Technical Analysis with Candlestick Charts – 16 February 2022

Technical Analysis with Candlestick Charts – 16 February 2022

Technical Analysis

Asia Pacific stocks were up on Wednesday morning. The Shanghai composite is up 0.35% at 3,458.06. Overall, the Singapore MSCI up 1.16% at 353.00. Over in Hong Kong, the Hang Seng Index up 0.51% at 24,631.00. In Japan, the Nikkei 225 up 2.20% at 27,430.00, while the Topix index is up 1.73% at 1945.50. South Korea’s Kospi up 1.99% to 2729.68. Australia S&P/ASX 200 up 1.08% at 7284.90.

European equities Tuesday closing. The DAX futures contract in Germany traded up 1.98% at 15412.71, CAC 40 futures up 1.86% at 6979.98 and the UK 100 futures contract in the U.K. up 1.03% at 7,608.92.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.22% at 34988.85. The S&P 500 up 1.58% at 4471.08 and the Nasdaq 100 up 2.47% at 14620.82, NYSE closes up 1.30% at 16745.83.

In the Forex market, GBPUSD up 0.16% at 1.3553. The USDJPY up 0.07% at 115.657. The USDCHF up 0.09% at 0.9252. EURUSD up 0.01% at 1.13595, EUR/GBP down 0.07% at 0.8380. The USD/CNY down 0.05% at 6.3354 at the time of writing.

In the commodity market U.S. Gold futures up 0.10% at $1,855.08. Elsewhere, Silver futures up 0.23% at $23.412 per ounce, Platinum up 0.19% at $1028.00 per ounce, and Palladium up 1.40% at $2282.50.

Crude Oil up on Wednesday; Brent crude oil up 0.10% at $93.46 per barrel while U.S. West Texas Intermediate (CLc1) up 0.21% at $90.43.

In the Cryptocurrency Markets, Bitcoin at 44145.82 down 0.99%, Ethereum down 1.40 at 3142.38, Litecoin at 129.41 down 1.78%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVIDIA Corp. up 9.181% at $264.95, American Airlines Group Inc. up 8.089% at $18.84, Expedia Group Inc. up 7.486% to $211.93, Marathon Oil Corp. down 2.838% at $20.54, Phillips 66 down 2.32% to $88.42, IQVIA Holdings Inc. down 4.694% at $228.64.

Economic news:

US: The Biden administration is seeking $30 billion in additional funds from Congress to fight the COVID-19 pandemic to bolster vaccines, treatments, testing supply, and research, according to sources familiar with the matter.

The $30 billion request includes $17.9 billion for vaccines and therapeutics, two sources familiar with it said.

Administration officials and congressional staff have been in talks about the issue, a Department of Health and Human Services spokesperson confirmed on Tuesday.

“These resources would help us continue expanding the tools the country needs to stay ahead of the virus and help us move toward the time when COVID-19 will not disrupt our daily lives.”

Democratic President Joe Biden secured a $1.9 trillion “American Rescue Plan” last year to fight the pandemic. But the Delta and Omicron variants of the coronavirus, coupled with ongoing vaccine hesitancy among a portion of the U.S. population, have fueled coronavirus cases, hospitalizations and deaths nationwide.

Eurozone: Forcing foreign bank branches in the European Union to become subsidiaries would be a “last resort” to shed light on regulatory blind spots, a senior EU official said on Tuesday.

The bloc has proposed tightening up how foreign banks from Switzerland, Britain, Japan, the United States and elsewhere can offer wholesale market services to customers in the EU.

The proposals follow Brexit, which saw UK banks setting up branches in the bloc, and have rung alarm bells at some foreign banks, Reuters reported last month.

Many foreign lenders currently offer wholesale services directly from abroad, while others use a branch in an EU state, both cheaper than a subsidiary, which would require more capital and liquidity held locally, an expensive undertaking.

In some cases, there would not be enough business to justify a branch, let alone a subsidiary, and EU customers would end up having less choice if the banks pulled out of the bloc, foreign bank officials say privately.

Important Data: UK CPI (YoY) (Jan) today at 2:00 this time estimated 5.40%, previously which was 5.40%. EURO ZONE Industrial Production (MoM) (Dec) today at 5:00 this time estimated 0.30%, previously which was 2.30%. US Core Retail Sales (MoM) (Jan) today at 8:30 this time estimated 0.8%, previously which was -2.3%. CANADA Core CPI (MoM) (Jan) today at 8:30 this time estimated 0.0%, previously which was 0.0%. US Industrial Production (MoM) (Jan) today at 9:15 this time estimated 0.4%, previously which was -0.1%.

Technical Summary

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35555, TAKE PROFIT AT 1.35764 AND STOP LOSS AT 1.35262

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.13724, TAKE PROFIT AT 1.13948 AND STOP LOSS AT 1.13577

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 115.636, TAKE PROFIT AT 115.834 AND STOP LOSS AT 115.495

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.92479, TAKE PROFIT AT 0.92667 AND STOP LOSS AT 0.92336

CAC 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 7005.80 TAKE PROFIT AT 6957.80 AND STOP LOSS AT 7045.60

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 91.29 TAKE PROFIT AT 92.96 AND STOP LOSS AT 90.40

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1856.22, TAKE PROFIT AT 1865.69 AND STOP AT 1850.74

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3147.13 TAKE PROFIT AT 3270.94 AND STOP AT 3045.83

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