Technical Analysis with Candlestick Charts – 21 December 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 21 December 2021

Asia Pacific stocks were mostly up on Tuesday morning. The Shanghai composite is up 0.67% at 3,617.67. Overall, the Singapore MSCI up 0.44% at 330.75. Over in Hong Kong, the Hang Seng Index up 0.52% at 22,900.00. In Japan, the Nikkei 225 up 1.90% at 28,430.00, while the Topix index is up 1.26% at 1964.0. South Korea’s Kospi up 0.52% to 2978.34. Australia S&P/ASX 200 up 0.86% at 7355.0.

European equities Monday closing. The DAX futures contract in Germany traded down 1.88% at 15239.67, CAC 40 futures down 0.82% at 6870.11 and the UK 100 futures contract in the U.K. down 0.99% at 7,198.04.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.23% at 34932.17. The S&P 500 down 1.14% at 4568.01 and the Nasdaq 100 down 1.10% at 15627.64, NYSE closes down 1.36% at 16442.31.

In the Forex market, GBPUSD up 0.10% at 1.32189. The USDJPY up 0.12% at 113.713. The USDCHF up 0.21% at 0.92173. EURUSD up 0.07% at 1.12825, EUR/GBP flat at 0.85347. The USD/CNY down 0.04% at 6.3729 at the time of writing.

In the commodity market U.S. Gold futures up 0.16% at $1,793.03. Elsewhere, Silver futures up 0.66% at $22.410 per ounce, Platinum down 0.43% at $932.00 per ounce, and Palladium up 0.77% at $1764.50.

Crude Oil mix on Tuesday; Brent crude oil up 0.21% at $72.23 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.76% at $70.18.

In the Cryptocurrency Markets, Bitcoin at 48335.03 up 3.12%, Ethereum up 1.46% at 4003.87, Litecoin at 152.57 down 0.07%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Carnival Corp. up 3.392% at $18.90, Pfizer Inc. up 2.589% at $61.02, Expedia Group Inc. up 1.958% to $162.43, AT&T Inc. up 1.724% to $24.19, Moderna Inc. down 6.248% to $276.38, Nucor Corp. down 5.822% at $111.13.

Economic news:

US: Some economists expect the U.S. economy to grow more slowly next year after a key Democratic lawmaker dealt a seemingly fatal blow to President Joe Biden’s $1.75 trillion spending plan, further clouding an outlook that was facing heightened risk from the rapid spread of the Omicron variant of COVID-19.

Goldman Sachs (NYSE:GS) lowered its GDP growth forecast for 2022 as did Mark Zandi, chief economist for Moody’s (NYSE:MCO) Analytics, after U.S. Senator Joe Manchin said on Sunday he could not support Biden’s ambitious “Build Back Better” proposal, which would expand the social safety net and tackle climate change.

“If BBB doesn’t become law, the economic recovery will be vulnerable to stalling out if we suffer another serious wave of the pandemic; an increasingly likely scenario with Omicron spreading rapidly,” Zandi wrote on Twitter (NYSE:TWTR) on Monday, adding that he expects real GDP growth to be lower by half a percentage point in 2022 if the proposed legislation doesn’t become law.

Democrats are absorbing the legislative setback as the Biden administration faces criticism from health experts amid a surge in COVID-19 infections.

Eurozone: British manufacturers reported a near-record inflow of new orders this month but also a worsening shortage of stocks of finished goods, which deteriorated at an unprecedented pace for a second month in a row, an industry survey showed on Monday.

The figures from the Confederation of British Industry, collected between Nov. 22 and Dec. 10, show little evidence of a knock from the Omicron variant of coronavirus, which has been a major blow for face-to-face consumer services businesses.

The CBI’s monthly order book balance for manufacturers slipped to +24 in December from November’s record high of +26, while output growth over the past three months was the highest since July.

Growth is expected to slow slightly over the next three months but remains well above its long-run average.

“UK manufacturing demand remains strong, and output accelerated to meet this demand in December. However, behind the scenes, firms are battling pressures on a number of fronts,” said Anna Leach, the CBI’s deputy chief economist.

Important Data: US API Weekly Crude Oil Stock today at 17:30 previously which was -0.815M. CANADA Core Retail Sales (MoM) (Oct) at 8:30 this time estimated 1.5%, previously which was -0.2%. US Current Account (Q3) today at 8:30 this time estimated -205.0B, previously which was -190.3B. UK CBI Industrial Trends Orders (Dec) today at 6:00 this time estimated 13, previously which was 26.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.32148, TAKE PROFIT AT 1.31862 AND STOP LOSS AT 1.32412

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.12763, TAKE PROFIT AT 1.12504 AND STOP LOSS AT 1.13024

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 113.722, TAKE PROFIT AT 113.937 AND STOP LOSS AT 113.469

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.92186, TAKE PROFIT AT 0.91941 AND STOP LOSS AT 0.92322.

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4141.00 TAKE PROFIT AT 4097.00 AND STOP LOSS AT 4163.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 69.36 TAKE PROFIT AT 67.55 AND STOP LOSS AT 70.34

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1791.27, TAKE PROFIT AT 1785.14 AND STOP AT 1798.56

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4015.13 TAKE PROFIT AT 3959.52 AND STOP AT 4095.06

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