Technical Analysis with Candlestick Charts – 26 January 2022

Technical Analysis with Candlestick Charts – 26 January 2022

Technical Analysis

Asia Pacific stocks were mostly up on Wednesday morning. The Shanghai composite is up 0.65% at 3,455.91. Overall, the Singapore MSCI up 0.97% at 336.95. Over in Hong Kong, the Hang Seng Index down 0.05% at 24,227.00. In Japan, the Nikkei 225 down 0.18% at 27,010.00, while the Topix index is down 0.05% at 1891.00. South Korea’s Kospi down 0.41% to 2709.24. Australia S&P/ASX 200 down 2.49% at 6961.60.

European equities Tuesday closing. The DAX futures contract in Germany traded up 0.75% at 15123.87, CAC 40 futures up 0.74% at 6837.97 and the UK 100 futures contract in the U.K. up 1.02% at 7,371.47.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.19% at 34297.74. The S&P 500 down 1.22% at 4356.46 and the Nasdaq 100 down 2.48% at 14149.12, NYSE closes down 0.45% at 16340.32.

In the Forex market, GBPUSD up 0.02% at 1.3504. The USDJPY up 0.09% at 113.959. The USDCHF up 0.05% at 0.91857. EURUSD down 0.05% at 1.12948, EUR/GBP down 0.04% at 0.8363. The USD/CNY down 0.07% at 6.3212 at the time of writing.

In the commodity market U.S. Gold futures down 0.08% at $1,846.42. Elsewhere, Silver futures down 0.39% at $23.708 per ounce, Platinum up 0.24% at $1029.00 per ounce, and Palladium down 0.59% at $2187.00.

Crude Oil up on Wednesday; Brent crude oil up 0.50% at $88.30 per barrel while U.S. West Texas Intermediate (CLc1) up 0.39% at $85.13.

In the Cryptocurrency Markets, Bitcoin at 37326.20 up 0.95%, Ethereum down 0.25% at 2453.71, Litecoin at 108.28 up 0.31%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

American Express Co. up 8.922% at $173.11, Marathon Oil Corp. up 6.557% at $19.50, Devon Energy Corp. up 6.063% to $51.26, Xilinx Inc. down 6.657% at $173.16, Fortinet Inc. down 5.999% to $272.95, General Electric Co. down 5.985% at $91.11.

Economic news:

US: U.S. House of Representatives leaders on Tuesday unveiled a bill aimed at increasing U.S. competitiveness with China and supporting the U.S. chip industry, including $52 billion to subsidize semiconductor manufacturing and research.

President Joe Biden’s administration is pushing to persuade Congress to approve funding to help boost chip production in the United States, as shortages of the key components used in autos and computers have exacerbated supply chain bottlenecks.

House Speaker Nancy Pelosi said the 2,900-page bill, called the “America Competes” act, would “supercharge” investment in chips and boost U.S. manufacturing and research capacity, as well as advancing U.S. competitiveness and leadership.

The Senate passed the U.S. Innovation and Competition Act last year, which includes $52 billion to increase U.S. semiconductor production and authorizes $190 billion to strengthen U.S. technology and research to compete with China.

Eurozone: The euro hovered near its weakest in a month versus the safe-haven dollar and yen on Wednesday as traders fretted over a potential military conflict in Ukraine and the possibility of accelerated Federal Reserve policy tightening.

The euro was about flat at $1.1303 after dipping to $1.1264 overnight for the first time since Dec. 21. It slipped 0.06% to 128.64 yen, after touching 128.25 in the previous session, also a first since Dec. 21.

Western leaders stepped up preparations for any Russian military action in Ukraine while Moscow said it was watching with great concern after 8,500 U.S. troops were put on alert to deploy to Europe in the event of an escalation.

Meanwhile, the Fed ends a two-day policy meeting later in the global day, with market players anxiously awaiting further clues on the timing and pace of interest rate hikes, as well as how the central bank will go about slimming down its almost $9 trillion balance sheet, a process dubbed quantitative tightening (QT).

Money markets are currently priced for a first hike in March, followed by three more quarter-point increases by year-end.

Important Data: US New Home Sales (Dec) today at 10:00 this time estimated 760K, previously which was 744K. US  Crude Oil Inventories today at 10:30 this time estimated -0.728M, previously which was 0.515M. NEW ZEALAND CPI (QoQ) (Q4) today at 16:45 this time estimated 1.3%, previously which was 2.2%. AUSTRALIA Import Price Index (QoQ) (Q4) today at 19:30 this time estimated 1.4%, previously which was 5.4%.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34975, TAKE PROFIT AT 1.34623 AND STOP LOSS AT 1.35423

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.12890, TAKE PROFIT AT 1.12695 AND STOP LOSS AT 1.13112

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 113.914, TAKE PROFIT AT 113.762 AND STOP LOSS AT 114.088

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.9190, TAKE PROFIT AT 0.9217 AND STOP LOSS AT 0.9177

DAX 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 15243.70 TAKE PROFIT AT 15150.50 AND STOP LOSS AT 15279.70.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 85.34 TAKE PROFIT AT 85.84 AND STOP LOSS AT 84.54

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1844.90, TAKE PROFIT AT 1848.67 AND STOP AT 1842.73

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2462.240 TAKE PROFIT AT 2355.18 AND STOP AT 2538.33

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