Technical Analysis with Candlestick Charts – 24 September 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 24 September 2021

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 0.41% at 3,627.71. Overall, the Singapore MSCI down 0.36% at 356.60. Over in Hong Kong, the Hang Seng Index down 0.11% at 24,495.00. In Japan, the Nikkei 225 up 1.11% at 30,100.00, while the Topix index is up 1.29% at 2076.0. South Korea’s Kospi down 0.09% to 3124.73. Australia S&P/ASX 200 down 0.41% at 7340.3.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.88% at 15643.97, CAC 40 futures up 0.98% at 6701.99 and the UK 100 futures contract in the U.K. down 0.07% at 7,078.36.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.48% at 34764.83. The S&P 500 up 1.21% at 4448.99 and the Nasdaq 100 down 0.12% at 15295.30, NYSE closes at 16657.26 up 1.32%.

In the Forex market, GBPUSD down 0.01% at 1.37174. The USDJPY up 0.19% at 110.532. The USDCHF up 0.19% at 0.9255. EURUSD down 0.02% at 1.17365, EUR/GBP up 0.01% at 0.85548. The USD/CNY up 0.02% at 6.4602 at the time of writing.

In the commodity market U.S. Gold futures up 0.71% at $1,755.31. Elsewhere, Silver futures up 1.06% to $22.721 per ounce, Platinum down 0.36% at $986.47 per ounce, and Palladium up 1.28% at $2008.47.

Crude Oil up on Friday; Brent crude oil up 0.32% at $77.48 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.16% at $70.71.

In the Cryptocurrency Markets, BTCUSD at 44432.63 down 1.05%, Ethereum down 1.88% at 3094.78, Litecoin at 161.17 down 1.73%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Marathon Oil Corp. up 5.907% at $12.73, Hess Corp. up 5.479% at $74.70,

Mosaic Co. up 5.395% to $34.97, NVIDIA Corp. up 2.466% to $224.82, Cisco Systems Inc. up 2.107% to $56.69, Microchip Technology Inc. up 2.279% at $165.17.

Economic news:

US: U.S. household wealth jumped to a new high of $141.7 trillion at the end of June, a report from the Federal Reserve showed on Thursday, boosted by stock market gains and a pandemic-induced real-estate boom.

Soaring equity markets fuelled the increase in overall wealth, adding $3.5 trillion to household assets in the second quarter – a period in which the S&P 500 saw a total return of just over 8.5% after factoring in reinvested dividends.

Rising real estate values added around $1.2 trillion, according to the U.S. central bank’s latest quarterly report https://www.federalreserve.gov/releases/z1 on household, business and government financial accounts.

Overall U.S. household wealth rose by $5.9 trillion from the first quarter.

The amount held in household savings deposits fell to $10.6 trillion in the second quarter from $10.8 trillion in the first quarter. Balances in checking accounts rose to $3.6 trillion from $3.3 trillion in the first quarter, the report showed.

Eurozone: Many of the drivers of a recent spike in euro zone inflation are temporary and due to fade in the next year, European Central Bank President Christine Lagarde said in an interview aired on CNBC on Friday.

Euro zone prices have been rebounding faster than expected as the economy reopened after pandemic-induced lockdowns, and several ECB policymakers think inflation will be close to, or even above, the ECB’s target of 2% next year.

Lagarde blamed much of the rise on supply disruptions and said inflation should stabilise next year.

“We think that there will be a return to much more stability in the year to come because many of the causes of higher prices are temporary,” Lagarde said.

“When you look at what’s causing it, a lot of it has to do with energy prices”.

She added “things will fall into place” when new sources of supply are found but cautioned higher energy prices might persist as they related to a transition away from fossil fuels.

Important Data: US New Home Sales (Aug) today at 10:00 this time estimated 714K, previously which was 708K. Germany Ifo Business Climate Index (Sep) today at 4:00 this time estimated 98.9, previously which was 99.4. CANADA Budget Balance (Jul) at 11:00 previously which was -12.71B. EURO ZONE ECB’s Lane Speaks today at 09:15.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37203, TAKE PROFIT AT 1.36904 AND STOP LOSS AT 1.37478

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17310, TAKE PROFIT AT 1.17203 AND STOP LOSS AT 1.17465

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 151.662, TAKE PROFIT AT 151.957 AND STOP LOSS AT 151.379

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 119.362, TAKE PROFIT AT 119.596 AND STOP LOSS AT 119.230

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 34599.00 TAKE PROFIT AT 34499 AND STOP LOSS AT 34746.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 73.32 TAKE PROFIT AT 72.86 AND STOP LOSS AT 73.85

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1758.71, TAKE PROFIT AT 1741.23 AND STOP AT 1765.63

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3088.20 TAKE PROFIT AT 2966.83 AND STOP AT 3170.67

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