Technical Analysis with Candlestick Charts – 18 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 18 November 2021

Asia Pacific stocks were mostly down on Thursday morning. The Shanghai composite is down 0.31% at 3,526.56. Overall, the Singapore MSCI down 0.22% at 366.95. Over in Hong Kong, the Hang Seng Index down 1.46% at 25,257.00. In Japan, the Nikkei 225 down 0.37% at 29,580.00, while the Topix index is down 0.15% at 2033.0. South Korea’s Kospi down 0.31% to 2953.24. Australia S&P/ASX 200 up 0.13% at 7379.2.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.02% at 16251.13, CAC 40 futures up 0.06% at 7156.86 and the UK 100 futures contract in the U.K. down 0.49% at 7,291.21.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.58% at 35931.06. The S&P 500 down 0.26% at 4688.68 and the Nasdaq 100 up 0.18% at 16355.5, NYSE closes down 0.64% at 17192.65.

In the Forex market, GBPUSD up 0.05% at 1.3491. The USDJPY up 0.14% at 114.237. The USDCHF up 0.08% at 0.9287. EURUSD down 0.02% at 1.13169, EUR/GBP flat at 0.83875. The USD/CNY down 0.02% at 6.3765 at the time of writing.

In the commodity market U.S. Gold futures down 0.15% at $1,864.36. Elsewhere, Silver futures down 0.38% to $24.970 per ounce, Platinum down 0.05% at $1058.97 per ounce, and Palladium down 0.46% at $2181.00.

Crude Oil down on Thursday; Brent crude oil down 0.45% at $79.84 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.79% at $81.24.

In the Cryptocurrency Markets, Bitcoin at 59853.00 down 0.86%, Ethereum down 0.70% at 4261.92, Litecoin at 221.59 down 3.64%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 3.393% at $242.23, Tesla Inc. up 3.25% at $1,089.01, Pfizer Inc. up 2.561% to $50.87, Gap Inc. down 5.188% to $23.76, PayPal Holdings Inc. down 4.359% to $206.27, Western Digital Corp. down 3.403% at $56.49.

Economic news:

US: U.S. single-family homebuilding tumbled in October while the number of houses authorized for construction but not yet started jumped to a 15-year high, underscoring the disruption to the housing market from an ongoing shortage of materials and labor.

Though the report from the Commerce Department on Wednesday showed an increase in permits for future homebuilding, the rise was concentrated in the volatile multi-family housing segment. This will do little to alleviate an acute shortage of houses on the market, which has led to record annual gains in home prices.

“Residential housing construction activity continues to flounder,” said Christopher Rupkey, chief economist at FWDBONDS in New York. “There are zoning problems, higher land costs, a lack of labor, and inflation has inflated the cost of raw building materials.”

Single-family housing starts, which account for the largest share of the housing market, dropped 3.9% to a seasonally adjusted annual rate of 1.039 million units last month. The fourth-straight monthly decline pushed starts to the lowest level since August 2020. Homebuilding fell in all four regions, with large decreases in the Northeast, Midwest and West.

Eurozone: British households, businesses and financial markets remain confident that the Bank of England will return inflation to its 2% target, BoE policymaker Catherine Mann said, after official data on Wednesday showed inflation at a 10-year high.

BoE Governor Andrew Bailey said on Monday that he had been concerned last month that markets might lose faith in the BoE’s commitment to fighting inflation as prices rose, which in turn had prompted him to signal a rate rise was coming.

The BoE did not raise rates at its November meeting, wrong-footing investors who thought Bailey had implied a rate rise was imminent. But financial markets expect rates to rise next month, after strong jobs data and a jump in inflation to 4.2%.

Mann, who joined the BoE’s Monetary Policy Committee in September, told an online event hosted by J.P. Morgan that she expected higher inflation to be temporary.

Rising rates of pay for newly-hired staff, especially junior roles, were not feeding through into across-the-board pay rises for existing employees, she said.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 260K, previously which was 267K. CANADA Foreign Securities Purchases (Sep) at 8:30 previously which was 26.3B. RUSSIA Central Bank reserves (USD) today at 8:00 previously which was 622.1B. JAPAN National Core CPI (YoY) (Oct) today at 18:30 this time estimated 0.1%, previously which was 0.1%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34866, TAKE PROFIT AT 1.34465 AND STOP LOSS AT 1.35283

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.13172, TAKE PROFIT AT 1.12949 AND STOP LOSS AT 1.13322 

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8384, TAKE PROFIT AT 0.8301 AND STOP LOSS AT 0.8456

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 129.223, TAKE PROFIT AT 129.000 AND STOP LOSS AT 129.453.

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 7273.2 TAKE PROFIT AT 7254.7 AND STOP LOSS AT 7313.8

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 76.43 TAKE PROFIT AT 75.41 AND STOP LOSS AT 77.11

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1868.1, TAKE PROFIT AT 1874.46 AND STOP AT 1862.31

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 59747.11 TAKE PROFIT AT 57785.40 AND STOP AT 61429.92

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