Technical Analysis with Candlestick Charts – 18 January 2022

Technical Analysis with Candlestick Charts – 18 January 2022

Technical Analysis

Asia Pacific stocks were mostly up on Tuesday morning. The Shanghai Composite is up 0.61% at 3,563.73. Overall, the Singapore MSCI up 0.12% at 344.80. Over in Hong Kong, the Hang Seng Index down 0.23% at 24,135.00. In Japan, the Nikkei 225 is down 0.32% at 28,250.00, while the Topix index is up 0.53% at 1977.50. South Korea’s Kospi down 0.89% to 2864.24. Australia S&P/ASX 200 down 0.11% at 7408.80.

European equities Monday closing. The DAX futures contract in Germany traded up 0.32% at 15933.72, CAC 40 futures up 0.82% at 7201.65 and the UK 100 futures contract in the U.K. up 0.91% at 7,611.24.

In 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 down 0.05% at 1.36369. The USDJPY up 0.26% at 114.905. The USDCHF up 0.22% at 0.9152. EURUSD down 0.04% at 1.13982, EUR/GBP up 0.06% at 0.8358. The USD/CNY down 0.08% at 6.3434 at the time of writing.

In the commodity market U.S. Gold futures down 0.11% at $1,816.59. Elsewhere, Silver futures up 0.11% at $22.961 per ounce, Platinum down 0.26% at $969.00 per ounce, and Palladium up 0.29% at $1881.00.

Crude Oil up on Tuesday; Brent crude oil up 1.41% at $87.75 per barrel while U.S. West Texas Intermediate (CLc1) is up 1.27% at $84.74.

In the Cryptocurrency Markets, Bitcoin at 42314.35 up 0.14%, Ethereum down 0.24% at 3203.54, Litecoin at 147.80 down 2.36%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Microsoft Corp. up 1.772% at $310.20, Chevron Corp. up 1.704% at $128.96,

Intel Corp. up 1.383% to $55.70, Dow Inc. up 1.335% to $60.74, JPMorgan Chase & Co. down 6.146% to $157.89, American Express Co. down 2.822% at $168.40.

Economic news:

US: The chief executives of major U.S. passenger and cargo carriers on Monday warned of an impending “catastrophic” aviation crisis in less than 36 hours when AT&T (NYSE:T) and Verizon (NYSE:VZ) are set to deploy new 5G service.

The airlines warned the new C-Band 5G service set to begin on Wednesday could render a significant number of widebody aircraft unusable, “could potentially strand tens of thousands of Americans overseas” and cause “chaos” for U.S. flights.

“Unless our major hubs are cleared to fly, the vast majority of the traveling and shipping public will essentially be grounded,” wrote the chief executives of American Airlines (NASDAQ:AAL), Delta Air Lines (NYSE:DAL), United Airlines, Southwest Airlines (NYSE:LUV) and others in a letter first reported by Reuters.

The Federal Aviation Administration (FAA) has warned that potential interference could affect sensitive airplane instruments such as altimeters and significantly hamper low-visibility operations.

Eurozone: European Union countries broadly agree they need to change EU laws to allow slower debt reduction, move away from complex calculated indicators and come up with an EU fiscal framework that is actually respected, senior euro zone officials said.

The EU’s fiscal rules, called the Stability and Growth Pact, are to stop governments borrowing too much to safeguard the value of the euro. But the rules have often been disregarded, leading in part to the 2010 sovereign debt crisis, with little attempt made to enforce them by applying financial penalties.

The rules are now under review because the COVID-19 pandemic boosted EU public debt so much that existing laws can no longer apply, while fighting climate change requires enormous investment over decades that many argue should be reflected in EU laws.

“Some areas of broad agreement seem to be emerging concerning the more gradual adjustment path of debt reduction and specifically the so-called 1/20th rule,” European Commission Vice President Valdis Dombrovskis told reporters on Monday.

The current rule is that governments must cut public debt every year by 1/20th of the excess above 60% of GDP. With many countries running debts well above 100% of GDP, such a rule is seen as unrealistic by finance ministers.

Important Data: UK Average Earnings Index +Bonus (Nov) today at 2:00 this time estimated 4.2%, previously which was 4.9%. GERMANY ZEW Economic Sentiment (Jan) today at 5:00 this time estimated 32.0, previously which was 29.9. US API Weekly Crude Oil Stock today at 16:30 previously which was -1.077M. EURO ZONE Economic Sentiment (Jan) today at 5:00 this time estimated 29.20, previously which was 26.80.

TECHNICAL REPORT

GBPUSD

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- BUY AT 1.36354, TAKE PROFIT AT 1.36617 AND STOP LOSS AT 1.36171

EURUSD

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- BUY AT 1.13929, TAKE PROFIT AT 1.14317 AND STOP LOSS AT 1.13576

USDJPY

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- BUY AT 114.862, TAKE PROFIT AT 115.159 AND STOP LOSS AT 114.625

USDCHF

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- SELL AT 0.91456, TAKE PROFIT AT 0.91193 AND STOP LOSS AT 0.91682

HANG SENG

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- BUY AT 24047.00 TAKE PROFIT AT 24300.00 AND STOP LOSS AT 23842.00.

WTI CRUDE OIL

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- BUY AT 84.92 TAKE PROFIT AT 85.08 AND STOP LOSS AT 84.80

GOLD

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- BUY AT 1816.00, TAKE PROFIT AT 1820.15 AND STOP AT 1812.19

ETHEREUM

Candlestick Charts
Technical Analysis

TRADE SUGGESTION- SELL AT 3172.52 TAKE PROFIT AT 3047.22 AND STOP AT 3259.60

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