Technical Analysis with Candlestick Charts – 18 October 2021

Technical Analysis with Candlestick Charts – 18 October 2021

Asia Pacific stocks were mostly down on Monday morning. The Shanghai composite is down 0.35% at 3,559.95. Overall, the Singapore MSCI up 0.05% at 367.20. Over in Hong Kong, the Hang Seng Index down 0.45% at 25,203.00. In Japan, the Nikkei 225 down 0.45% at 28,990.00, while the Topix index is down 0.57% at 2016.5. South Korea’s Kospi down 0.24% to 3007.76. Australia S&P/ASX 200 up 0.07% at 7366.9.

European equities Friday closing. The DAX futures contract in Germany traded up 0.81% at 15587.36, CAC 40 futures up 0.63% at 6727.53 and the UK 100 futures contract in the U.K. down 0.20% at 7,229.1.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.09% at 35294.77. The S&P 500 up 0.75% at 4471.38 and the Nasdaq 100 down 0.35% at 15106.2, NYSE closes at 16871.74 up 0.76%.

In the Forex market, GBPUSD down 0.10% at 1.3731. The USDJPY up 0.14% at 114.359. The USDCHF up 0.22% at 0.9250. EURUSD down 0.14% at 1.15789, EUR/GBP up 0.06% at 0.84328. The USD/CNY up 0.05% at 6.4369 at the time of writing.

In the commodity market U.S. Gold futures down up 0.11% at $1,768.17. Elsewhere, Silver futures up 0.20% to $23.308 per ounce, Platinum down 0.25% at $1052.41 per ounce, and Palladium down 0.30% at $2067.88.

Crude Oil up on Monday; Brent crude oil up 1.00% at $85.74 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.39% at $80.03.

In the Cryptocurrency Markets, BTCUSD at 62418.87 up 1.45%, Ethereum up 0.48% at 3863.31, Litecoin at 186.93 up 1.81%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Wells Fargo & Co up 6.776% at $48.38, Goldman Sachs Group Inc. up 3.801% at $406.07, Mastercard Inc. up 3.314% to $356.00, Gap Inc. down 2.639% to $22.14,

Biogen Inc. down 1.427% to $281.19, Facebook down 1.148% at $324.76.

Economic news:

US: U.S. Democratic Senator Joe Manchin from West Virginia slammed fellow lawmaker Bernie Sanders late Friday over his attempts to garner support for President Joe Biden’s multi-trillion-dollar spending package in the latest example of infighting among key lawmakers over the plan.

Manchin tweeted out his concern over the scope of the legislation in response to an editorial from Sanders, an independent senator from Vermont, advocating for it.

On Friday, West Virginia paper the Charleston Gazette-Mail published an editorial from Sanders urging support for the Democratic plan to address wealth inequity, soaring pharmaceutical costs, an increasingly expensive healthcare system and costly childcare.

Eurozone: Bank of England Governor Andrew Bailey sent a fresh signal on Sunday that the British central bank is gearing up to raise interest rates for the first time since the onset of the coronavirus crisis as inflation risks mount.

Bailey said he continued to believe that the recent jump in inflation would be temporary, but that a surge in energy prices would push it higher and make its climb last longer, raising the risk of higher inflation expectations.

“Monetary policy cannot solve supply-side problems – but it will have to act and must do so if we see a risk, particularly to medium-term inflation and to medium-term inflation expectations,” Bailey said during an online panel discussion organised by the Group of 30 consultative group.

“And that’s why we at the Bank of England have signalled, and this is another such signal, that we will have to act,” he said. “But of course, that action comes in our monetary policy meetings.”

Important Data: US Industrial Production (YoY) (Sep) today at 9:15 previously which was 5.95%. CANADA Foreign Securities Purchases (Aug) today at 8:30, previously which was 14.19B. US Federal Budget Balance today at 14:00 previously which was -171B. CANADA Housing Starts (Sep) today at 8:15 this time estimated 255K, previously which was 260.2K.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.37225, TAKE PROFIT AT 1.37487 AND STOP LOSS AT 1.36882

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.15769, TAKE PROFIT AT 1.15667 AND STOP LOSS AT 1.15956

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.84331, TAKE PROFIT AT 0.84207 AND STOP LOSS AT 0.84578

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 132.325, TAKE PROFIT AT 132.555 AND STOP LOSS AT 132.271

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4454.49 TAKE PROFIT AT 4466.95 AND STOP LOSS AT 4441.40

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 83.37 TAKE PROFIT AT 83.59 AND STOP LOSS AT 83.29

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1764.09, TAKE PROFIT AT 1753.43 AND STOP AT 1771.59

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 187.20 TAKE PROFIT AT 193.09 AND STOP AT 183.54

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