Technical Analysis with Candlestick Charts – 18 February 2022

Technical Analysis with Candlestick Charts – 18 February 2022

Technical Analysis

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is up 0.49% at 3,485.17. Overall, the Singapore MSCI down 0.17% at 351.15. Over in Hong Kong, the Hang Seng Index down 0.18% at 24,669.00. In Japan, the Nikkei 225 down 0.26% at 27,090.00, while the Topix index is down 0.31% at 1921.00. South Korea’s Kospi up 0.02% to 2744.52. Australia S&P/ASX 200 down 1.02% at 7221.70.

European equities Thursday closing. The DAX futures contract in Germany traded down 0.67% at 15267.63, CAC 40 futures down 0.26% at 6946.83 and the UK 100 futures contract in the U.K. down 0.87% at 7,537.38.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.78% at 34312.04. The S&P 500 down 2.12% at 4380.26 and the Nasdaq 100 down 2.96% at 14171.74, NYSE closes down 1.66% at 16492.04.

In the Forex market, GBPUSD up 0.03% at 1.3619. The USDJPY up 0.22% at 115.172. The USDCHF up 0.14% at 0.9213. EURUSD up 0.12% at 1.13707, EUR/GBP up 0.14% at 0.8349. The USD/CNY down 0.16% at 6.3282 at the time of writing.

In the commodity market U.S. Gold futures up 0.33% at $1,891.98. Elsewhere, Silver futures up 0.35% at $23.915 per ounce, Platinum up 0.37% at $1090.50 per ounce, and Palladium down 0.80% at $2348.50.

Crude Oil down on Friday; Brent crude oil down 0.40% at $92.54 per barrel while U.S. West Texas Intermediate (CLc1) down 0.45% at $89.465.

In the Cryptocurrency Markets, Bitcoin at 40736.04 up 0.44%, Ethereum up 0.20% at 2905.67, Litecoin at 117.59 up 1.00%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Walmart Inc. up 4.007% at $138.88, Marathon Oil Corp. up 3.892% at $21.89,

Kraft Heinz Co. up 3.195% to $37.79, Cisco Systems Inc. up 2.802% at $55.77,

NVIDIA Corp. down 7.559% to $245.07, Dexcom Inc. down 6.378% at $387.25.

Economic news:

US: The number of Americans filing new claims for jobless benefits unexpectedly rose last week, but remained below pre-pandemic levels as labor market conditions continue to tighten.

The first increase in a month reported by the Labor Department on Thursday did not change economists’ expectations for another month of solid employment gains in February.

There is an acute shortage of workers, which has seen employers boosting wages and offering other incentives to retain their workforce as well as attract labor. Economists blamed the rise in claims on week-to-week volatility in the data and harsh weather in some parts of the country.

“Given the regular noise in the data and the range of factors that can impact filings we don’t think the recent jump in initial claims filings is particularly worrisome at this point,” said Daniel Silver, an economist at JPMorgan (NYSE:JPM) in New York. “Overall, we think that the labor market remains tight.”

Eurozone: Britain scrapped its so-called “golden visas” for wealthy investors on Thursday amid concerns about the inflow of illicit Russian money at a time of heightened tensions between Moscow and the West over Ukraine.

Hundreds of billions of dollars have flowed into London and Britain’s overseas territories from Russia since the fall of the Soviet Union in 1991, raising fears among some allies that illicit money was cascading into the global financial system.

British lawmakers on parliament’s Intelligence and Security Committee warned in 2020 that more work needed to be done to tackle “the illicit financial dealings of the Russian elite”, including overhauling the ‘Tier 1’ investor visa system.

Prime Minister Boris Johnson’s interior minister, Priti Patel, said on Thursday she had closed the Tier 1 system, which had offered a route to residency for those investing at least 2 million pounds ($2.72 million).

London has long been dubbed ‘Londongrad’ or ‘Moscow-on-Thames’ as the city of choice for the super-wealthy of Russia and other former Soviet republics.

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 Retail Sales (MoM) (Jan) today at 2:00 this time estimated 1.00%, previously which was -4.00%. CANADA Core Retail Sales (MoM) (Dec) today at 8:30 this time estimated -2.00%, previously which was 1.10%. US Existing Home Sales (Jan) today at 10:00 this time estimated 6.10M, previously which was 6.18M. CANADA Retail Sales (MoM) (Dec) today at 8:30 this time estimated -2.1%, previously which was 0.7%. EUROZONE ECB’s Elderson Speaks today at 8:00.

Technical Summary

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.36213, TAKE PROFIT AT 1.36502 AND STOP LOSS AT 1.35956

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.13694, TAKE PROFIT AT 1.13940 AND STOP LOSS AT 1.13569

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.83437, TAKE PROFIT AT 0.83263 AND STOP LOSS AT 0.83615

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 130.882, TAKE PROFIT AT 131.251 AND STOP LOSS AT 130.506

HANG SENG

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 24281.80 TAKE PROFIT AT 24126.00 AND STOP LOSS AT 24454.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 89.05 TAKE PROFIT AT 87.91 AND STOP LOSS AT 90.45

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1894.61, TAKE PROFIT AT 1900.00 AND STOP AT 1879.42

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 117.44 TAKE PROFIT AT 110.14 AND STOP AT 125.45

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