Technical Analysis with Candlestick Charts – 26 October 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 26 October 2021

Asia Pacific stocks were mostly up on Tuesday morning. The Shanghai composite is down 0.39% at 3,595.32. Overall, the Singapore MSCI down 0.16% at 370.45. Over in Hong Kong, the Hang Seng Index down 0.75% at 25,943.00. In Japan, the Nikkei 225 up 1.78% at 29,130.00, while the Topix index is up 1.25% at 2021.0. South Korea’s Kospi up 0.94% to 3049.08. Australia S&P/ASX 200 up 0.03% at 7443.4.

European equities Monday closing. The DAX futures contract in Germany traded up 0.36% at 15599.23, CAC 40 futures down 0.31% at 6712.86 and the UK 100 futures contract in the U.K. up 0.19% at 7,240.8.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.18% at 35741.16. The S&P 500 up 0.47% at 4566.49 and the Nasdaq 100 up 0.26% at 15598.6, NYSE closes at 17169.07 up 0.27%.

In the Forex market, GBPUSD up 0.06% at 1.377. The USDJPY up 0.20% at 113.941. The USDCHF up 0.11% at 0.9208. EURUSD down 0.03% at 1.1603, EUR/GBP down 0.09% at 0.84250. The USD/CNY down 0.05% at 6.3823 at the time of writing.

In the commodity market U.S. Gold futures down 0.18% at $1,803.80. Elsewhere, Silver futures down 0.74% to $24.37 per ounce, Platinum down 0.62% at $1052.00 per ounce, and Palladium down 0.32% at $2050.50.

Crude Oil mix on Tuesday; Brent crude oil down 0.07% at $85.88 per barrel while U.S. West Texas Intermediate (CLc1) is up 4.30% at $83.69.

In the Cryptocurrency Markets, BTCUSD at 62457.02 down 1.06%, Ethereum down 0.56% at 4197.15, Litecoin at 195.36 up 0.03%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Tesla Inc. up 12.662% at $1024.86, Moderna Inc. up 7.05% at $349.56, Nucor Corp. down 6.929% to $109.42, ETSY Inc. down 4.684% to $252.57, Carmax Inc. down 2.412% to $139.97, Whirlpool Corp. down 2.375% at $208.37.

Economic news:

US: State and local governments distributed nearly $2.8 billion in Emergency Rental Assistance program funds in September, up from about $2.6 billion in August and bringing the year-to-date total to $10.3 billion, the U.S. Treasury said on Monday.

The Treasury said about 510,000 American households were helped by the aid to pay rent, utilities and arrears, compared to 459,000 in August

The figures show some acceleration of disbursements as programs administered by states and municipalities gain traction, with over 2 million payments made so far, but the pace is still behind the curve, Biden administration officials said.

Gene Sperling, the White House coordinator for coronavirus aid programs, said the program is on track for 3.5 million rental aid payments for all of 2021, “making a meaningful difference in preventing the feared surge in evictions, but it is still not good enough.”

Eurozone: Britain will announce a rise in its minimum wage for those aged 23 and over to 9.50 pounds ($13.06) per hour from 8.91 pounds in the government’s budget statement on Wednesday, the finance ministry said on Monday.

“This wage boost ensures we’re making work pay and keeps us on track to meet our target to end low pay by the end of this Parliament,” finance minister Rishi Sunak said in a statement ahead of his annual budget presentation on Wednesday.

The increase in the minimum wage is due to take effect in April 2022. Rates for people aged under 23, who are paid a lower minimum wage, are also due to rise, the finance ministry said.

Important Data: US New Home Sales (Sep) today at 10:00 this time estimated 760K, previously which was 740K. AUSTRLIA CPI (QoQ) (Q3) at 20:30 this time estimated 0.8%, previously which was 0.8%. NEW ZEALAND Trade Balance (YoY) (Sep) today at 17:45 previously which was -2,940M. US CB Consumer Confidence (Oct) today at 10:00 this time estimated 108.3, previously which was 109.3.   

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- BUY AT 1.37616, TAKE PROFIT AT 1.37879 AND STOP LOSS AT 1.37378

EURUSD

TRADE SUGGESTION- SELL AT 1.15939, TAKE PROFIT AT 1.15840 AND STOP LOSS AT 1.16088

EURGBP

TRADE SUGGESTION- SELL AT 0.84233, TAKE PROFIT AT 0.84203 AND STOP LOSS AT 0.84303

EURJPY

TRADE SUGGESTION- BUY AT 132.320, TAKE PROFIT AT 132.562 AND STOP LOSS AT 132.099.

EURO STOXX 50

TRADE SUGGESTION- BUY AT 4198.00 TAKE PROFIT AT 4217.00 AND STOP LOSS AT 4189.00

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 83.38 TAKE PROFIT AT 84.19 AND STOP LOSS AT 83.13

GOLD

TRADE SUGGESTION- BUY AT 1802.09, TAKE PROFIT AT 1807.86 AND STOP AT 1797.27

BTC USD

TRADE SUGGESTION- BUY AT 62392.64 TAKE PROFIT AT 63638.92 AND STOP AT 61695.30

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