Technical Analysis with Candlestick Charts – 23 September 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 23 September 2021

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai Composite is up 0.18% at 3,634.81. Overall, the Singapore MSCI is up 1.62% at 358.10. Over in Hong Kong, the Hang Seng Index is up 0.90% at 24,386.00. In Japan, the Nikkei 225 is up 0.85% at 29,770.00, while the Topix index is flat at 2049.5. South Korea’s Kospi down 0.53% to 3123.72. Australia S&P/ASX 200 up 1.18% at 7382.9.

European equities Wednesday closing. The DAX futures contract in Germany traded up 1.03% at 15506.74, CAC 40 futures up 1.29% at 6637.01 and the UK 100 futures contract in the U.K. up 0.76% at 7,123.60.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.00% at 34258.33. The S&P 500 up 0.95% at 4395.63 and the Nasdaq 100 up 0.05% at 15204.70, NYSE closes at 16352.18 up 1.04%.

In the Forex market, GBPUSD up 0.20% at 1.36373. The USDJPY up 0.11% at 109.881. The USDCHF up 0.01% at 0.9256. EURUSD up 0.22% at 1.17127, EUR/GBP up 0.11% at 0.85884. The USD/CNY flat at 6.4655 at the time of writing.

In the commodity market U.S. Gold futures down 0.28% at $1,763.19. Elsewhere, Silver futures down 0.22% to $22.611 per ounce, Platinum up 0.51% at $999.62 per ounce, and Palladium up 0.27% at $2033.50.

Crude Oil up on Thursday; Brent crude oil up 0.62% at $76.34 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.36% at $70.60.

In the Cryptocurrency Markets, BTCUSD at 43787.75 up 0.45%, Ethereum up 0.79% at 3103.35, Litecoin at 159.49 down 1.27%, at the time of writing.

TOP STOCKS TO WATCH OUT FOR TODAY:

Marathon Oil Corp. up 5.346% at $12.02, Hess Corp. up 5.215% at $70.82,

FedEx Corp. down 9.121% to $229.08, Facebook down 3.992% to $343.21, Adobe Inc. down 3.067% to $626.08, United Parcel Service Inc. down 2.335% at $185.30.

Economic news:

US: U.S. Treasury Secretary Janet Yellen urged Paschal Donohoe, the finance minister of low-tax Ireland, to take a “once in a generation opportunity” for a global deal that would stop a race to the bottom on corporate tax rates, the Treasury said on Wednesday.

Despite pressure from Yellen and European Union officials, Ireland has not wavered in its opposition as an October deadline approaches to finalize a deal for a global minimum tax of at least 15% — well above Ireland’s 12.5% rate.

Donohoe said on Monday that Ireland was “still some bit away” from joining the Organisation for Economic Cooperation and Development (OECD) tax agreement as he waits to see whether a deeply divided U.S. Congress will accept the Biden administration’s proposed tax increases.

Yellen, during a call with Donohoe, “expressed appreciation for Ireland’s constructive participation” in the OECD tax reform talks, and the two ministers agreed to keep in close communication on the issue, the Treasury said in a statement.

Eurozone: Britain’s central bank looks set to keep interest rates steady later on Thursday as it approaches the end-point of its 895-billion-pound ($1.22 trillion) asset purchase programme and casts a wary eye over surging inflation pressures.

Investors will be keen to see if more Monetary Policy Committee (MPC) members join external member Michael Saunders who voted in August to halt the current year-long programme of asset purchases, which the Bank of England committed to last November.

The BoE is ahead of other major central banks in planning to stop quantitative easing by the end of this year, and half its policymakers judged in August that some preconditions for an interest rate rise had already been met.

Late on Wednesday, the U.S. Federal Reserve cleared the way to reduce its monthly bond purchases and signalled interest rate increases may follow more sooner than expected, with half of its policymakers projecting borrowing costs would rise in 2022.

In August the BoE revised up its forecast for inflation at the end of this year to 4%, reflecting higher energy prices and post-COVID-19 bottlenecks which have intensified this month.

Important Data: EURO ZONE Manufacturing PMI (Sep) today at 4:00 this time estimated 60.3, previously which was 61.4. UK Services PMI today at 4:30 previously which was 55.0. US Initial Jobless Claims at 8:30 this time estimated 320K, previously which was 332K. CANADA Core Retail Sales (MoM) (Jul) today at 08:30 this time estimated -1.5%, previously which was 4.7%.

TECHNICAL SUMMARY

GBPUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.36495, TAKE PROFIT AT 1.36103 AND STOP LOSS AT 1.36866

EURUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.17117, TAKE PROFIT AT 1.16629 AND STOP LOSS AT 1.17493

EURGBP

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 0.85817, TAKE PROFIT AT 0.85959 AND STOP LOSS AT 0.85744

EURJPY

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 128.784, TAKE PROFIT AT 128.570 AND STOP LOSS AT 129.094

HANG SENG

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 24438.00 TAKE PROFIT AT 24574 AND STOP LOSS AT 24175.00

WTI CRUDE OIL

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 72.20 TAKE PROFIT AT 73.10 AND STOP LOSS AT 71.75

GOLD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1764.02, TAKE PROFIT AT 1753.11 AND STOP AT 1771.49

BTCUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 44060.00 TAKE PROFIT AT 43261.00 AND STOP AT 44951.12

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