Technical Analysis with Candlestick Charts – 19 October 2021

Technical Analysis with Candlestick Charts – 19 October 2021

Asia Pacific stocks were up on Tuesday morning. The Shanghai Composite is up 0.70% at 3,593.23. Overall, the Singapore MSCI is up 0.53% at 369.40. Over in Hong Kong, the Hang Seng Index is up 1.02% at 25,695.00. In Japan, the Nikkei 225 is up 1.21% at 29,260.00, while the Topix index is up 0.80% at 2028.5. South Korea’s Kospi is up 0.67% to 3026.63. Australia S&P/ASX 200 up 0.25% at 7399.5.

European equities Monday closing. The DAX futures contract in Germany traded down 0.72% at 15474.47, CAC 40 futures up 0.81% at 6673.11 and the UK 100 futures contract in the U.K. up 0.14% at 7,215.2.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.09% at 35258.62. The S&P 500 up 0.34% at 4486.47 and the Nasdaq 100 down 0.01% at 15302.3, NYSE closes at 16862.00 down 0.06%.

In the Forex market, GBPUSD up 0.34% at 1.37694. The USDJPY down 0.18% at 114.109. The USDCHF down 0.30% at 0.9208. EURUSD up 0.38% at 1.16531, EUR/GBP up 0.12% at 0.84625. The USD/CNY down 0.31% at 6.41 at the time of writing.

In the commodity market U.S. Gold futures up 0.55% at $1,775.42. Elsewhere, Silver futures up 1.27% to $23.48 per ounce, Platinum up 1.29% at $1049.90 per ounce, and Palladium down 0.74% at $2034.00.

Crude Oil up on Tuesday; Brent crude oil up 0.26% at $84.34 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.01% at $80.04.

In the Cryptocurrency Markets, BTCUSD at 62761.29 up 1.17%, Ethereum up 2.55% at 3840.41, Litecoin at 190.68 up 2.78%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Gap Inc. up 4.562% at $23.15, Twitter Inc. up 3.298% at $64.84, Biogen Inc. down 4.076% to $269.73, Walt Disney Co. down 3.015% to $171.14, AES Corp. down 2.294% to $23.85, Amgen Inc. down 2.266% at $203.13.

Economic news:

US: Worries that the U.S. economy is heading into stagflation are overblown, several high-profile bond market investors said Monday at the 2021 Milken Global Conference program.

Stagflation – when stagnant economic activity is combined with high inflation – is “extremely unlikely,” PIMCO Chief Executive Emmanuel Roman said in a panel discussion at the conference, held in Beverly Hills, California.

Other participants in the panel discussion – including PGIM CEO David Hunt; Invesco CEO Martin Flanagan; Elizabeth Burton, chief investment officer for the Employees’ Retirement System of Hawaii; and Scott Minerd, Guggenheim Partners global chief investment officer – largely agreed that the threat of stagflation was remote.

With energy prices on the rise even as the economy remains constrained by supply-chain gridlock, an increasing number of investors have started to fret about the specter of stagflation in recent months.

In the past, a stagflation environment has tended to weigh on stock performance, analysts at Goldman Sachs (NYSE: GS) said in a report published earlier this month.

Eurozone: Britain said on Monday it was intervening in a proposed 6.3 billion-pound ($8.65 billion) takeover by U.S. engineering and aerospace firm Parker-Hannifin (NYSE: PH) of its British rival Meggitt (LON: MGGT), citing national security grounds.

The business minister Kwasi Kwarteng issued a so-called “intervention notice” to review the impact of the takeover.

“The UK is open for business; however, we will take steps to protect our national security, when necessary,” Kwarteng said.

Parker-Hannifin said in August it had agreed to buy London-listed Meggitt and promised a series of commitments, including on UK jobs, in an attempt to fend off concerns about the deal.

The planned takeover was the latest by U.S. investors for British firms which have become attractively priced after the COVID-19 pandemic and Brexit which hit the value of the pound.

Important Data: US Building Permits (Sep) today at 8:30 this time estimated 1.68M, previously which was 1.721M. US API Weekly Crude Oil Stock today at 16:30, previously which was 5.213M. JAPAN Exports (YoY) (Sep) today at 19:50 this time estimated 11%, previously which was 26.2%. JAPAN Trade Balance (Sep) today at 19:50 this time estimated -519.2B, previously which was -637.2B.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.37548, TAKE PROFIT AT 1.37913 AND STOP LOSS AT 1.37225

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.16339, TAKE PROFIT AT 1.16622 AND STOP LOSS AT 1.16088

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 157.080, TAKE PROFIT AT 157.264 AND STOP LOSS AT 156.928

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 123.783, TAKE PROFIT AT 123.846 AND STOP LOSS AT 123.7393.

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 35108 TAKE PROFIT AT 35259 AND STOP LOSS AT 34884

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 82.36 TAKE PROFIT AT 82.96 AND STOP LOSS AT 82.03

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1773.45, TAKE PROFIT AT 1764.71 AND STOP AT 1779.32

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3816.97 TAKE PROFIT AT 3882.89 AND STOP AT 3732.21

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