Technical Analysis with Candlestick Charts – 21 January 2022

Technical Analysis with Candlestick Charts – 21 January 2022

Asia Pacific stocks were down on Friday morning. The Shanghai composite is down 0.84% at 3,525.34. Overall, the Singapore MSCI up 0.07% at 343.50. Over in Hong Kong, the Hang Seng Index down 0.85% at 24,775.00. In Japan, the Nikkei 225 down 1.08% at 27,490.00, while the Topix index is down 0.72% at 1924.50. South Korea’s Kospi down 1.11% to 2830.82. Australia S&P/ASX 200 down 2.27% at 7175.80.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.65% at 15912.33, CAC 40 futures up 0.30% at 7194.17 and the UK 100 futures contract in the U.K. down 0.06% at 7,585.00.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.89% at 34715.40. The S&P 500 down 1.10% at 4482.74 and the Nasdaq 100 down 1.34% at 14846.46, NYSE closes down 0.92% at 16663.76.

In the Forex market, GBPUSD down 0.04% at 1.35924. The USDJPY down 0.23% at 113.814. The USDCHF down 0.24% at 0.9148. EURUSD up 0.16% at 1.13281, EUR/GBP up 0.21% at 0.8334. The USD/CNY down 0.02% at 6.3392 at the time of writing.

In the commodity market U.S. Gold futures up 0.10% at $1,840.71. Elsewhere, Silver futures up 0.17% at $24.510 per ounce, Platinum down 0.14% at $1036.50 per ounce, and Palladium down 0.90% at $2046.00.

Crude Oil down on Friday; Brent crude oil down 0.26% at $87.00 per barrel while U.S. West Texas Intermediate (CLc1) down 0.44% at $83.92.

In the Cryptocurrency Markets, Bitcoin at 38677.71 down 5.05%, Ethereum down 4.65% at 2860.20, Litecoin at 124.76 down 3.91%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Morgan Stanley up 4.283% at $99.83, Marriott International Inc. up 1.621% at $156.70, Micron Technology Inc. down 5.478% to $85.07, Moderna Inc. down 3.763% at $167.52, NVIDIA Corp. down 3.658% to $241.50, Microchip Technology Inc. down 3.509% at $73.97.

Economic news:

US: A bipartisan group of more than 140 U.S. lawmakers called on U.S. Trade Representative Katherine Tai to immediately revive and expand a tariff exclusion process on Chinese goods to help U.S. manufacturers.

The House of Representatives members said in a letter to Tai that her current proposal to re-launch exclusions for a limited number of Chinese imports subject to “Section 301” is too narrow, and the tariffs paid since a broader exclusion programs lapsed a year ago have hurt American companies and workers.

“These increased costs are undermining the competitiveness of American manufacturing workers whose inputs are now more expensive compared to those made by foreign competitors,” said the lawmakers, led by Democrats Ron Kind of Wisconsin and Suzan DelBene of Washington and Republicans Darin LaHood of Illinois and Jackie Walorski of Indiana.

“Sadly, the Section 301 tariffs have broadly impacted U.S. businesses in the manufacturing, agriculture, fishing, retail, energy, technology, and services industries.”

Eurozone: German producer prices rose 24.2% year on the year in December, with the record annual jump driven by higher energy prices, official data showed on Thursday.

The jump from the previous December was the largest year-on-year increase for any month since the Federal Statistics Office began compiling the producer price numbers in 1949, the office said.

December’s figures marked the third consecutive month of very high numbers after October and November showed increases of 18.4% and 19.2% respectively.

The average expectation among analysts polled by Reuters was an annual increase of 19.4%. Producer prices also registered a record jump of 5% month on month, against 0.8% in November.

Energy prices were up 69% compared with December 2020, the Federal Statistics Office said. Stripping out energy prices, producer prices rose 10.4% on the year.

Important Data: UK Core Retail Sales (MoM) (Dec) today at 2:00 this time estimated -0.5%, previously which was 1.1%. CANADA Core Retail Sales (MoM) (Nov) today at 8:30 this time estimated 1.3%, previously which was 1.3%. CANADA Wholesale Sales (MoM) (Nov) today at 8:30 previously which was 1.4%. EURO ZONE Consumer Confidence (Jan) today at 10:00 this time estimated -9.0, previously which was -8.3.       

TECHNICAL SUMMARY

GBPUSD

DE SUGGESTION- BUY AT 1.35854, TAKE PROFIT AT 1.36181 AND STOP LOSS AT 1.35556

EURUSD

TRADE SUGGESTION- SELL AT 1.13279, TAKE PROFIT AT 1.13098 AND STOP LOSS AT 1.13520

USDJPY

TRADE SUGGESTION- SELL AT 113.824, TAKE PROFIT AT 113.609 AND STOP LOSS AT 114.000

USDCHF

TRADE SUGGESTION- SELL AT 0.91444, TAKE PROFIT AT 0.91288 AND STOP LOSS AT 0.91657

CAC 40

TRADE SUGGESTION- SELL AT 7095.00 TAKE PROFIT AT 7059.80 AND STOP LOSS AT 7134.90.

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 84.07 TAKE PROFIT AT 84.86 AND STOP LOSS AT 83.32

GOLD

TRADE SUGGESTION- BUY AT 1842.22, TAKE PROFIT AT 1848.41 AND STOP AT 1839.33

ETHEREUM

TRADE SUGGESTION- SELL AT 2844.75 TAKE PROFIT AT 2823.22 AND STOP AT 2893.30

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