Technical Analysis with Candlestick Charts – 19 January 2022

Technical Analysis with Candlestick Charts – 19 January 2022

Technical Analysis

Asia Pacific stocks were mostly down on Wednesday morning. The Shanghai composite is down 0.63% at 3,547.44. Overall, the Singapore MSCI down 0.03% at 342.60. Over in Hong Kong, the Hang Seng Index down 0.10% at 24,013.00. In Japan, the Nikkei 225 down 3.08% at 27,380.00, while the Topix index is down 2.96% at 1919.00. South Korea’s Kospi down 0.75% to 2842.88. Australia S&P/ASX 200 down 1.03% at 7332.50.

European equities Tuesday closing. The DAX futures contract in Germany traded down 1.01% at 15772.56, CAC 40 futures down 0.94% at 7133.84 and the UK 100 futures contract in the U.K. down 0.63% at 7,563.54.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.51% at 35368.48. The S&P 500 down 1.84% at 4577.10 and the Nasdaq 100 down 2.57% at 15210.76, NYSE closes down 1.56% at 16950.91.

In the Forex market, GBPUSD up 0.10% at 1.36082. The USDJPY down 0.27% at 114.281. The USDCHF down 0.14% at 0.9159. EURUSD up 0.07% at 1.13320, EUR/GBP down 0.04% at 0.8327. The USD/CNY down 0.07% at 6.3482 at the time of writing.

In the commodity market U.S. Gold futures flat at $1,813.30. Elsewhere, Silver futures up 0.27% at $23.518 per ounce, Platinum down 0.41% at $979.00 per ounce, and Palladium down 0.26% at $1900.00.

Crude Oil down on Wednesday; Brent crude oil down 0.52% at $87.96 per barrel while U.S. West Texas Intermediate (CLc1) down 0.57% at $85.29.

In the Cryptocurrency Markets, Bitcoin at 41772.98 down 1.43%, Ethereum down 1.79% at 3106.57, Litecoin at 136.02 down 3.82%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Electronic Arts. up 2.66% at $133.91, Exxon Mobil Corp. up 1.684% at $73.08, Citrix Systems Inc. up 5.428% to $101.00, Moderna Inc. down 8.851% to $186.61, KLA Corp. down 7.196% to $412.98, Goldman Sachs Group Inc. down 6.967% at $354.40.

Economic news:

US: The $350 billion in coronavirus relief funds for state and local governments has allowed U.S. cities to respond stronger and more nimbly to an ever-changing COVID-19 pandemic, U.S. Treasury Secretary Janet Yellen said on Wednesday.

In remarks prepared for delivery to a meeting of the U.S. Conference of Mayors, Yellen said state and local governments have been creative in using the funding from last year’s American Rescue Plan to meet different needs at different times.

“This, I think, is some of what the $350 billion did: When Omicron started spreading around our cities, it did not find them broke and broken; it found them much readier to respond,” she said, referring to the State and Local Fiscal Recovery Fund.

“Rather than one burst of money that could only be spent in certain ways, it called for sustained funding, and our Treasury team has worked hard so you can use the money as flexibly as possible,” Yellen added.

She cited several examples of local uses of the funds, from $1,000 signing bonuses for new teachers at child-care centers in Columbus, Ohio, to Hawaii reversing its decision to furlough 10,000 state employees.

Eurozone: British employers hired a record number of staff last month and labour shortages deepened – increasing the chance that the Bank of England will raise interest rates again next month – but the pay was squeezed by rapidly rising inflation.

Tuesday’s data suggests the surge in cases of the Omicron variant of coronavirus in December did little to dent the resilience of Britain’s job market.

The figures are also unlikely to ease the BoE’s concern that a rising inflation tide will be slow to ebb. Concern about possible labour shortages and pay pressures over the medium term was a major reason why the BoE raised interest rates last month for the first time since the start of the pandemic.

Financial markets see an 85% chance that the BoE will raise rates again on Feb. 3 after its next meeting, and 10-year government borrowing costs rose to a three-month high after the data.

“Alongside rising headline inflation rates and growing evidence that Omicron’s impact has been modest, a February rate rise from the Bank of England looks increasingly likely,” ING economist James Smith said.

Important Data: UK CPI (YoY) (Dec) today at 2:00 this time estimated 5.2%, previously which was 5.1%. GERMANY CPI (MoM) (Dec) today at 2:00 this time estimated 0.5%, previously which was -0.2%. US Building Permits (Dec) today at 8:30 this time estimated 1.701M, previously which was 1.717M. CANADA Core CPI (MoM) (Dec) today at 8:30 previously which was 0.6%.

TECHNICAL REPORT

GBPUSD

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- BUY AT 1.36016, TAKE PROFIT AT 1.36328 AND STOP LOSS AT 1.35765

EURUSD

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- SELL AT 1.13330, TAKE PROFIT AT 1.13102 AND STOP LOSS AT 1.13516

EURGBP

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- SELL AT 0.8327, TAKE PROFIT AT 0.8321 AND STOP LOSS AT 0.8329

EURJPY

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- SELL AT 129.541, TAKE PROFIT AT 129.030 AND STOP LOSS AT 130.005

NIKKEI 225

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- SELL AT 27463.00 TAKE PROFIT AT 27448.00 AND STOP LOSS AT 27488.00.

WTI CRUDE OIL

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- BUY AT 85.19 TAKE PROFIT AT 85.71 AND STOP LOSS AT 84.73

GOLD

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- BUY AT 1813.20, TAKE PROFIT AT 1819.86 AND STOP AT 1807.96

LITECOIN USD

Technical Analysis Chart
Technical Analysis Chart

TRADE SUGGESTION- SELL AT 132.073 TAKE PROFIT AT 125.104 AND STOP AT 142.24

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