Technical Analysis with Candlestick Charts – 25 April 2022

Technical Analysis with Candlestick Charts – 25 April 2022

Technical Analysis

THE WEEK FULL OF RESULTS AHEAD

Asia Pacific stocks were down on Monday morning. The Shanghai Composite is down 4.32% at 2,953.51. Overall, the Singapore MSCI is down 1.21% at 310.50. Over in Hong Kong, the Hang Seng Index is down 3.41% at 19,903. In Japan, the Nikkei 225 is down 1.99% at 26,560.00, while the Topix index is down 1.47% at 1875.00. South Korea’s Kospi is down 1.76% at 2657.14. Australia S&P/ASX 200 down 1.57% at 7473.30.

Top News of the Day:

Almost 180 companies listed in the S&P 500, worth approximately half of the benchmark index’s market value, are due to report results in the coming week, including the four largest U.S. companies by market capitalization: Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN) and Google parent Alphabet (NASDAQ:GOOGL).

Market Summary as per 22/04/2022:

European equities Friday closing. The DAX futures contract in Germany traded up 2.48% at 14,142.09, CAC 40 futures down 1.99% at 6581.43 and the UK 100 futures contract in the U.K. down 1.39% at 7,521.68.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 2.82% at 33811.41. The S&P 500 down 2.77% at 4271.79 and the Nasdaq 100 down 2.65% at 13356.87, NYSE closes down 2.68% at 16056.88.

Top Market News Today:

In the Forex market, GBPUSD down 0.63% at 1.2751. The USDJPY down 0.16% at 128.265. The USDCHF up 0.28% at 0.9594. EURUSD down 0.78% at 1.0711, EUR/GBP down 0.11% at 0.8403. The USD/CNY up 0.80% at 6.552 at the time of writing.

In the Commodity market U.S. Gold futures down 0.90% at $1,912.53. Elsewhere, Silver futures down 1.82% at $23.666 per ounce, Platinum down 0.86% at $922.50 per ounce, and Palladium down 2.86% at $2309.50.

Crude Oil down on Monday; Brent crude oil down 3.32% at $102.58 per barrel while U.S. West Texas Intermediate (CLc1) down 0.22% at $102.95.

In the Cryptocurrency Markets, Bitcoin at 38978.11 down 1.24%, Ethereum down 2.71% at 2843.30, Litecoin at 101.35 down 3.11%, at the time of writing.

Top Market Segment to Watch Out Today:

CRUDE OIL: Oil prices slumped to near two-week lows on Monday, extending losses from last week, as concerns grew that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would hurt global economic growth and fuel demand.

Brent crude futures were down $3.15, or 3.0%, at $103.50 a barrel by 0326 GMT. They touched $103.41 earlier in the session, the lowest since April 12. U.S. West Texas Intermediate (WTI) crude futures fell $3.01, or 3.0%, to $99.06 a barrel, having skidded earlier to $98.93, the lowest since April 12.

Economic News:

US: The heads of some of the largest U.S. regional banks see mounting risks for a recession brought on by the Federal Reserve’s interest-rate hikes, even as those increases are set to bolster lending revenue.

Fed policy makers are struggling to contain consumer prices that surged 8.5% from a year earlier in March, with Chair Jerome Powell saying a half-point interest-rate hike “will be on the table” in May.

While the increases will benefit banks in the short-term by increasing the interest they collect on loans, executives say there’s a danger the central bank will tighten too aggressively.

Eurozone: European Central Bank policymakers are keen to end their bond purchase scheme at the earliest possible moment and raise interest rates as soon as July but certainly no later than September, nine sources familiar with ECB thinking told Reuters.

The ECB has been removing stimulus at the slowest possible pace this year but a surge in inflation is now putting pressure on policymakers to end their nearly decade-long experiment with unconventional support.

The big obstacle so far has been that longer-term forecasts still showed inflation falling back below the ECB’s 2% target but fresh estimates shared with policymakers at their April 14 meeting showed even 2024 inflation over target, several of the sources said.

Top Economic Releases Today:

  1. JAPAN Jobs/applications ratio (Mar) today at 19:30 this time estimated 1.22, previously which was 1.21. 
  2. GERMANY Ifo Business Climate Index (Apr) today at 4:00 this time estimated 89.1, previously which was 90.8.
  3. CANADA Wholesale Sales (MoM) today at 8:30 previously which was -0.4%.
  4. U.K. CBI Industrial Trends Orders (Apr) today at 6:00 this time estimated 21, previously which was 26.
  5. U.S. 6-Month Bill Auction today at 11:30 previously which was 1.25%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 1.2734, TAKE PROFIT AT 1.2726 AND STOP LOSS AT 1.2748

EURUSD

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 1.0733, TAKE PROFIT AT 1.0713 AND STOP LOSS AT 1.0765

EURGBP

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- BUY AT 0.8420, TAKE PROFIT AT 0.8448 AND STOP LOSS AT 0.8400

EURJPY

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- BUY AT 137.382, TAKE PROFIT AT 138.178 AND STOP LOSS AT 136.864

S&P 200

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 7289.00 TAKE PROFIT AT 7254.00 AND STOP LOSS AT 7331.00

WTI CRUDE OIL

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 97.91 TAKE PROFIT AT 93.76 AND STOP LOSS AT 99.77

GOLD

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 1915.44, TAKE PROFIT AT 1902.98 AND STOP AT 1926.48

LITECOIN 

Technical Analysis of Financial Markets
Technical Analysis of Financial Markets

TRADE SUGGESTION- SELL AT 98.09 TAKE PROFIT AT 94.84 AND STOP AT 103.88

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