Technical Analysis with Candlestick Charts – 23 February 2022

Technical Analysis with Candlestick Charts – 23 February 2022

Technical Analysis

Asia Pacific stocks were down on Tuesday morning following Russia’s troops into breakaway regions of eastern Ukraine. The Shanghai composite is down 1.21% at 3,448.11. Overall, the Singapore MSCI down 0.85% at 345.50. Over in Hong Kong, the Hang Seng Index down 2.79% at 23,493.00. In Japan, the Nikkei 225 down 1.89% at 26,430.00, while the Topix index is down 1.60% at 1881.50. South Korea’s Kospi down 1.35% to 2706.79. Australia S&P/ASX 200 down 1.00% at 7161.30.

European equities Monday closing. The DAX futures contract in Germany traded down 2.07% at 14731.12, CAC 40 futures down 2.04% at 6788.35 and the UK 100 futures contract in the U.K. down 0.04% at 7,417.00.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.68% at 34079.19. The S&P 500 down 0.72% at 4348.88 and the Nasdaq 100 down 1.14% at 14009.54, NYSE closes down 0.60% at 16392.32.

In the Forex market, GBPUSD down 0.06% at 1.3587. The USDJPY down 0.04% at 114.680. The USDCHF up 0.05% at 0.9162. EURUSD down 0.04% at 1.1303, EUR/GBP up 0.12% at 0.8319. The USD/CNY up 0.11% at 6.3412 at the time of writing.

In the commodity market U.S. Gold futures up 0.33% at $1,909.64. Elsewhere, Silver futures up 1.04% at $24.149 per ounce, Platinum up 1.26% at $1087.50 per ounce, and Palladium up 0.82% at $2404.50.

Crude Oil up on Tuesday; Brent crude oil up 0.43% at $97.42 per barrel while U.S. West Texas Intermediate (CLc1) up 0.69% at $93.10.

In the Cryptocurrency Markets, Bitcoin at 36868.13 down 0.56%, Ethereum down 1.65% at 2529.25, Litecoin at 102.00 down 0.64%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Ford Motor Co. up 2.851% at $18.04, Cisco Systems Inc. up 2.582% at $57.21,

Kellogg Co. up 1.897% to $66.07, Intel Corp. down 5.319% at $45.04, ETSY Inc. down 3.685% to $127.30, Match Group Inc. down 3.861% at $107.56.

Economic news:

US: The U.S.-European Union Trade and Technology Council, set up last year to mend strained transatlantic trade relations and help the allied democracies better compete with China, will meet for the second time on May 15-16 in France, EU antitrust chief Vestager said on Monday.

“This forum is crucial for global leadership across a range of key issues,” Vestager said in a tweet.

U.S. Trade Representative Katherine Tai also said the TTC would address shared challenges.

The TTC convened for the first time on Sept. 29 in Pittsburg with U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, Tai, EU trade chief Valdis Dombrovskis and Vestager.

One of its objectives is taking a more unified approach to curb the power of tech giants while another is to set standards and rules for the 21st century.

Eurozone: After work in the evenings, Nicola Frape turns off the heating and huddles under a blanket with her daughter and a hot water bottle. Adding a layer cost nothing, she says, but leaving the boiler on drains her inflation-hit bank account.

Treats such as cinema tickets have been scrapped as the 38-year-old care worker’s food and fuel bills climb, and she has tried to cancel her pay-tv service but cannot get through to her provider: she assumes everyone is doing the same thing.

Frape is one of millions of normally financially comfortable Britons who are facing a cost-of-living crisis as a double-whammy of accelerating inflation – driven by soaring energy bills – and tax increases kicks in this year.

Fast-rising prices are inflicting what the Bank of England says will be the biggest one-year fall in disposable income, adjusted for inflation, in at least 30 years.

After a decade of stagnant living standards – and in stark contrast to promises of a high-wage economy by Prime Minister Boris Johnson – Frape, like others, is bracing for a further hit to her finances in April.

That is when energy bills are due to jump 54% to around 2,000 pounds ($2,723) a year per household – only some of which will be offset by emergency government support – and when social security contributions paid by workers are also due to increase, all against the backdrop of rising interest rates.

Important Data: Germany Ifo Business Climate Index (Feb) today at 4:00 this time estimated 96.50, previously which was 95.70. UK CBI Industrial Trends Orders (Feb) today at 6:00 this time estimated 25.00, previously which was 24.00. US CB Consumer Confidence (Feb) today at 10:00 this time estimated 110.00, previously which was 113.80. AUSTRALIA Wage Price Index (QoQ) (Q4) today at 19:30 this time estimated 0.7%, previously which was 0.6%. NEW ZEALAND RBNZ Interest Rate Decision today at 20:00 this time estimated 1.00%, previously which was 0.75%.

Technical Summary

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35833, TAKE PROFIT AT 1.36183 AND STOP LOSS AT 1.35691

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.12933, TAKE PROFIT AT 1.12819 AND STOP LOSS AT 1.13104

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 114.626, TAKE PROFIT AT 114.482 AND STOP LOSS AT 114.761

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.9154, TAKE PROFIT AT 0.9139 AND STOP LOSS AT 0.9165

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3888.00 TAKE PROFIT AT 3872.00 AND STOP LOSS AT 3951.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 93.01 TAKE PROFIT AT 93.62 AND STOP LOSS AT 91.74

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1908.22, TAKE PROFIT AT 1913.79 AND STOP AT 1902.27

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2516.58 TAKE PROFIT AT 2470.48 AND STOP AT 2567.37

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