Technical Analysis with Candlestick Charts – 18 April 2022

Technical Analysis with Candlestick Charts – 18 April 2022

Technical Analysis

A Week of Economic Updates from the U.S.

Asia Pacific stocks were mostly down on Monday morning. The Shanghai Composite is down 0.52% at 3,194.21. Overall, the Singapore MSCI is down 0.38% at 316.85. Over in Hong Kong, the Hang Seng Index is down 0.79% at 21,352. In Japan, the Nikkei 225 is down 1.11% at 26,780.00, while the Topix index is down 0.87% at 1880.00. South Korea’s Kospi is down 0.11% at 2693.11. Australia S&P/ASX 200 down 0.12% at 2692.71.

Top News of the Day:

The U.S. economic calendar is relatively light in the coming week, featuring several updates on the housing market. Data on housing starts and building permits is due out on Tuesday, followed by an update on existing home sales on Wednesday. The housing data will be closely watched with U.S. mortgage rates on the increase in response to higher market interest rates.

Market Summary as per 14/04/2022:

(Markets were closed on 15/04/2022 on account of Good Friday)

European equities Thursday closing. The DAX futures contract in Germany traded up 0.62% at 14,163.85, CAC 40 futures up 0.72% at 6589.36 and the UK 100 futures contract in the U.K. up 0.47% at 7,616.37.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.33% at 34451.24. The S&P 500 down 1.21% at 4392.60 and the Nasdaq 100 down 2.28% at 13893.21, NYSE closes down 0.62% at 16511.51.

Top Market News Today:

In the Forex market, GBPUSD down 0.22% at 1.3026. The USDJPY up 0.23% at 126.642. The USDCHF up 0.23% at 0.9443. EURUSD down 0.12% at 1.0795, EUR/GBP up 0.18% at 0.8287. The USD/CNY up 0.02% at 6.3716 at the time of writing.

In the Commodity market U.S. Gold futures up 0.66% at $1,987.33. Elsewhere, Silver futures up 0.68% at $25.818 per ounce, Platinum up 1.26% at $1006.00 per ounce, and Palladium flat at $2369.50.

Crude Oil up on Monday; Brent crude oil up 0.66% at $111.129 per barrel while U.S. West Texas Intermediate (CLc1) up 0.64% at $106.467.

In the Cryptocurrency Markets, Bitcoin at 38920.00 down 2.27%, Ethereum down 2.85% at 2910.00, Litecoin at 106.53 down 2.13%, at the time of writing.

Top Market Segment to Watch Out Today:

CRUDE OIL: Oil prices climbed to nearly three-week highs on Monday as fears over tight global supply grew, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia.

Brent futures were up $1.09, or 1.0%, at $112.79 a barrel at 0445 GMT, after hitting its highest since March 30 of $113.80 earlier in the session. U.S. West Texas Intermediate futures rose $1.00, or 0.9%, to $107.95 a barrel, having gained to as high as $108.55, the highest since March 30.

Economic News:

US: The U.S. envoy for North Korea arrived in Seoul on Monday for talks with his South Korean counterparts on ways to address Pyongyang’s increased missile launches and concerns over the possible resumption of nuclear testing.

U.S. Special Representative Sung Kim and his deputy, Jung Pak, will meet with South Korean officials, including nuclear envoy Noh Kyu-duk, during a five-day visit.

Their arrival coincided with the start of a nine-day annual joint military drill by U.S. and South Korean troops. The exercise is a “defensive command post training using computer simulation” and will not involve field manoeuvres by troops, South Korea’s Joint Chiefs of Staff said on Sunday.

Eurozone: British employers are offering annual pay settlements worth an average increase of 2.8% to staff, well below the rate of inflation, a survey showed on Monday.

The Chartered Management Institute said many businesses were wary of offering pay rises when other costs were soaring and some feared that consumer demand would soon falter.

Pay settlements in the private sector averaged 3.2%, compared with 2.4% in the public sector, the CMI data showed, roughly in line with other similar surveys.

While bigger pay rises would help ease the cost-of-living squeeze being felt by most British workers, the Bank of England is concerned that hefty pay rises could make it harder to get inflation back to target.

Top Economic Releases Today:

  1. U.S. 6-Month Bill Auction today at 11:30 previously which was 1.22%. 
  2. U.S. 3-Month Bill Auction today at 11:30 previously which was 0.785%.
  3. CANADA ADP Nonfarm Employment Change today at 8:30 previously which was 475.0K.
  4. INDIA WPI Inflation (YoY) (Mar) this time estimated 13.00%, previously which was 13.11%.
  5. BRAZIL IGP-10 Inflation Index (MoM) (Apr) today at 7:00 this time estimated 2.2%, previously which was 1.2%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 1.3008, TAKE PROFIT AT 1.2985 AND STOP LOSS AT 1.3050

EURUSD

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 1.0789, TAKE PROFIT AT 1.0756 AND STOP LOSS AT 1.0819

GBPJPY

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- BUY AT 164.640, TAKE PROFIT AT 165.371 AND STOP LOSS AT 164.333

CHFJPY

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- BUY AT 134.048, TAKE PROFIT AT 134.425 AND STOP LOSS AT 133.549

DAX 40

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 14037.00 TAKE PROFIT AT 13841.50 AND STOP LOSS AT 14203.90

WTI CRUDE OIL

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- BUY AT 105.88 TAKE PROFIT AT 108.43 AND STOP LOSS AT 103.36

GOLD

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- BUY AT 1991.51, TAKE PROFIT AT 1998.59 AND STOP AT 1980.08

BITCOIN USD

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 39002.26 TAKE PROFIT AT 38177.32 AND STOP AT 39603.96

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