Technical Analysis with Candlestick Charts – 17 January 2022

Technical Analysis with Candlestick Charts – 17 January 2022

Capital street fx (7)

Asia Pacific stocks were mostly up on Monday morning. The Shanghai Composite is up 0.34% at 3,149.81. Overall, the Singapore MSCI was down 0.36% at 344.65. Over in Hong Kong, the Hang Seng Index down 0.69% at 24,217.00. In Japan, the Nikkei 225 is up 0.53% at 28,340.00, while the Topix index is up 0.30% at 1988.00. South Korea’s Kospi down 1.09% to 2890.10. Australia S&P/ASX 200 up 0.32% at 7417.30.

European equities Friday closing. The DAX futures contract in Germany traded down 0.93% at 15883.24, CAC 40 futures down 0.81% at 7143.01 and the UK 100 futures contract in the U.K. up 0.03% at 7,577.10.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.56% at 35911.82. The S&P 500 up 0.08% at 4662.84 and the Nasdaq 100 up 0.75% at 15611.59, NYSE closes down 0.23% at 17219.06.

In the Forex market, GBPUSD is flat at 1.36705. The USDJPY is up 0.33% at 114.525. The USDCHF is up 0.11% at 0.9149. EURUSD down 0.02% at 1.14125, EUR/GBP up 0.13% at 0.8347. The USD/CNY was down 0.08% at 6.3471 at the time of writing.

In the commodity market U.S. Gold futures are up 0.09% at $1,819.00. Elsewhere, Silver futures up 0.08% at $22.960 per ounce, Platinum flat at $971.50 per ounce, and Palladium down 0.13% at $1878.00.

Crude Oil mix on Monday; Brent crude oil flat at $86.32 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.04% at $83.65.

In the Cryptocurrency Markets, Bitcoin at 42759.36 down 0.81%, Ethereum down 2.29% at 3273.35, Litecoin at 148.04 up 1.13%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Discovery Inc. up 7.042% at $30.40, KLA Corp. up 5.58% at $445.00, Marathon Oil Corp. up 4.847% to $19.47, JPMorgan Chase & Co. down 6.146% to $157.89, Whirlpool Corp. down 4.30% to $217.02, Home Depot Inc. down 3.871% at $372.00.

Economic news:

US: U.S. producer price inflation slowed in December as the cost of goods fell amid signs that stretched supply chains were starting to ease, hopeful signs that inflation has probably peaked.

The producer price index for final demand increased 0.2% last month after surging 1.0% in November. Wholesale services prices rose 0.5%, accounting for the increase in the PPI. That followed a 0.9% jump in November.

Goods prices fell 0.4% after advancing 1.1% in the prior month. They were held down by decreases in wholesale food and energy prices. Excluding food and energy, goods prices rose 0.5% after increasing 0.8% in November.

In the 12 months through December, the PPI increased 9.7% after accelerating 9.8% in November.

Eurozone: British manufacturers have offered higher pay deals to staff but many others are holding off on settlements as they monitor fast-rising inflation and get ready for higher minimum wages and a tax hike, industry group MakeUK said on Monday.

Only 2% of the companies which took part in a MakeUK survey have frozen pay this year, way down from around a third of them a year ago.

Most pay increases ranged between 2% and 3%, below the recent pace of inflation, but went as high as 14% in some cases.

However, around 45% of companies said they had yet to agree to a pay deal, up from about 30% this time last year.

The Bank of England is keeping a close eye on the impact of rising inflation on pay deals, something it fears could lead to longer-term inflationary pressures. The BoE thinks inflation will hit a 30-year high of 6% in April when higher social security contributions are due to kick in.

Important Data: CANADA Foreign Securities Purchases (Nov) today at 8:30 this time estimated 23.50B, previously which was 23.92B. CANADA Manufacturing Sales (MoM) (Nov) today at 8:30 this time estimated 3.1%, previously which was 4.3%. JAPAN Industrial Production (MoM) (Nov) today at 23:30 this time estimated 7.2%, previously which was 7.2%. RUSSIA Trade Balance (Nov) today at 8:00 previously which was 19.78B.

TECHNICAL REPORT

GBPUSD Technical Analysis

Technical Analysis chart
GBPUSD Technical Analysis

TRADE SUGGESTION- BUY AT 1.36713, TAKE PROFIT AT 1.36965 AND STOP LOSS AT 1.36434

EURUSD Technical Analysis

Technical Analysis chart
EURUSD Technical Analysis

TRADE SUGGESTION- BUY AT 1.14190, TAKE PROFIT AT 1.14601 AND STOP LOSS AT 1.13966

GBPJPY Technical Analysis

Technical Analysis chart
GBPJPY Technical Analysis

TRADE SUGGESTION- BUY AT 156.538, TAKE PROFIT AT 157.049 AND STOP LOSS AT 156.000

CHFJPY Technical Analysis

Technical Analysis chart
CHFJPY Technical Analysis

TRADE SUGGESTION- SELL AT 125.152, TAKE PROFIT AT 124.741 AND STOP LOSS AT 125.393

EURO STOXX 50 Technical Analysis

Technical Analysis chart
EURO STOXX 50 Technical Analysis

TRADE SUGGESTION- SELL AT 4278.00 TAKE PROFIT AT 4249.00 AND STOP LOSS AT 4302.00.

WTI CRUDE OIL Technical Analysis

Technical Analysis chart
WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- BUY AT 83.75 TAKE PROFIT AT 84.87 AND STOP LOSS AT 83.18

GOLD Technical Analysis

Technical Analysis chart
GOLD Technical Analysis

TRADE SUGGESTION- BUY AT 1821.57, TAKE PROFIT AT 1827.36 AND STOP AT 1815.34

BTC USD Technical Analysis

Technical Analysis chart
BTC USD Technical Analysis

TRADE SUGGESTION- SELL AT 42618.16 TAKE PROFIT AT 40311.54 AND STOP AT 45425.06

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