Technical Analysis with Candlestick Charts – 21 September 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 21 September 2021

Asia Pacific stocks were down on Tuesday morning. The Shanghai Composite is up 0.19% at 3,613.96. Overall, the Singapore MSCI is up 0.35% at 353.95. Over in Hong Kong, the Hang Seng Index down 0.42% at 23,957.00. In Japan, the Nikkei 225 is down 1.85% at 29,790.00, while the Topix index is down 1.44% at 2057.5. South Korea’s Kospi up 0.33% to 3140.51. Australia S&P/ASX 200 up 0.32% at 7271.2.

European equities Monday closing. The DAX futures contract in Germany traded down 2.31% at 15132.06, CAC 40 futures down 1.74% at 6455.82 and the UK 100 futures contract in the U.K. down 0.86% at 6,903.92.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.78% at 33970.48. The S&P 500 is down 1.70% at 4357.72 and the Nasdaq 100 is up 0.40% at 15073.7, NYSE closes at 16168.16 down 1.78%.

In the Forex market, GBPUSD is up 0.13% at 1.36690. The USDJPY is up 0.12% at 109.508. The USDCHF flat at 0.92716. EURUSD up 0.08% at 1.17344, EUR/GBP up 0.11% at 0.85851. The USD/CNY flat at 6.4655 at the time of writing.

In the commodity market U.S. Gold futures down 0.09% at $1,762.90. Elsewhere, Silver futures up 0.21% to $22.29 per ounce, Platinum up 0.67% at $917.56 per ounce, and Palladium up 0.88% at $1900.50.

Crude Oil mix on Tuesday; Brent crude oil up 0.32% at $74.46 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.55% at $70.30.

In the Cryptocurrency Markets, BTCUSD at 42629.00 down 0.95%, Ethereum up 0.75% at 3002.72, Litecoin at 158.31 up 0.73%, at the time of writing.

TOP STOCKS TO WATCH OUT FOR TODAY:

American Airlines Group Inc. up 3.041% at $20.33, Delta Air Lines Inc. up 1.67% at $40.78, Pfizer Inc. up 0.706% to $44.20, Nucor Corp. down 7.637% to $96.88,

Ford Motor Co. down 5.388% to $12.82, Baidu Inc. down 4.753% at $154.50.

Economic news:

US: Spreads on 10-year U.S. interest rate swaps over Treasuries hit their widest in more than six months due in part to worries about the potential fallout of Chinese property group Evergrande’s financial troubles to the global economy.

In another sign of concern brewing in money markets, analysts cited three-month Libor, which rose to 12.5 basis points, a four-week peak, according to Refinitiv data, which may reflect some stress in the banking system.

Evergrande has been scrambling to raise funds to pay its many lenders, suppliers and investors. Regulators have warned that it’s $305 billion in liabilities could spark broader risks to China’s financial system if its debts are not stabilized.

Spreads of interest rate swaps are typically viewed as indicators of market risk, analysts said. A higher spread suggests market participants are willing to swap their risk exposures, suggesting overall risk aversion.

The spread on 10-year U.S. swaps over benchmark Treasuries rose to 5.25 basis points, from 4 basis points late on Friday. The spread was 3.25 basis points late Monday.

Eurozone: Australia Prime Minister Scott Morrison on Tuesday said any trade talks with the European Union will be worked through in “the weeks and months ahead” as he deals with the fallout of the decision to cancel a $40 billion submarine deal with France.

“It’s not an easy thing to do, to get an agreement with the European Union on trade, I think everyone understands that,” Morrison told reporters in New York, after reaching the United States for a meeting of the leaders of the Quad group.

Australia last week cancelled its order of a fleet of conventional submarines from France and said it would instead build at least eight nuclear-powered submarines with U.S. and British technology, prompting a recall by France of its envoys in the U.S. and Australia.

Important Data: US Building Permits (Aug) today at 8:30 this time estimated 1.6M, previously which was 1.63M. US Current Account (Q2) today at 8:30 this time estimated -191.0B, previously which was -195.7B. US API Weekly Crude Oil Stock at 16:30 previously which was -5.437M. JAPAN BOJ Press Conference today at 23:00.

TECHNICAL SUMMARY

GBPUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.36754, TAKE PROFIT AT 1.36501 AND STOP LOSS AT 1.36934

EURUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.1729, TAKE PROFIT AT 1.1700 AND STOP LOSS AT 1.1749

GBPJPY

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 149.767, TAKE PROFIT AT 149.283 AND STOP LOSS AT 150.413

CHFJPY

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 118.101, TAKE PROFIT AT 117.989 AND STOP LOSS AT 118.207

HANG SENG

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 24114.00 TAKE PROFIT AT 23886.00 AND STOP LOSS AT 24563.00

WTI CRUDE OIL

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 70.95 TAKE PROFIT AT 71.76 AND STOP LOSS AT 70.32

GOLD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1760.45, TAKE PROFIT AT 1752.07 AND STOP AT 1766.65

BTCUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 42828.00 TAKE PROFIT AT 41285.51 AND STOP AT 43944.41

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