TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 27 SEPTEMBER 2021

Technical Analysis

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 27 SEPTEMBER 2021

Asia Pacific stocks were mostly up on Monday morning. The Shanghai composite is down 0.98% at 3,577.65. Overall, the Singapore MSCI up 1.89% at 361.15. Over in Hong Kong, the Hang Seng Index up 0.53% at 24,292.00. In Japan, the Nikkei 225 down 0.17% at 30,100.00, while the Topix index is down 0.26% at 2076.0. South Korea’s Kospi up 0.27% to 3133.64. Australia S&P/ASX 200 up 0.57% at 7384.2.

European equities Friday closing. The DAX futures contract in Germany traded down 0.72% at 15531.75, CAC 40 futures down 0.95% at 6638.47 and the UK 100 futures contract in the U.K. down 0.38% at 7,051.49.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.10% at 34798.01. The S&P 500 up 0.15% at 4455.47 and the Nasdaq 100 up 0.32% at 15386.20, NYSE closes at 16539.14 down 0.17%.

In the Forex market, GBPUSD down 0.02% at 1.36630. The USDJPY down 0.06% at 110.677. The USDCHF up 0.26% at 0.9266. EURUSD down 0.02% at 1.17178, EUR/GBP up 0.16% at 0.85762. The USD/CNY down 0.11% at 6.4592 at the time of writing.

In the commodity market U.S. Gold futures up 0.49% at $1,758.41. Elsewhere, Silver futures up 0.97% to $22.607 per ounce, Platinum up 1.28% at $994.59 per ounce, and Palladium up 0.81% at $1987.50.

Crude Oil up on Monday; Brent crude oil up 1.19% at $78.94 per barrel while U.S. West Texas Intermediate (CLc1) is up 5.40% at $74.53.

In the Cryptocurrency Markets, BTCUSD at 44112.60 up 2.10%, Ethereum up 2.07% at 3127.70, Litecoin at 153.18 up 1.62%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Carnival Corp. up 3.038% at $25.44, Tesla Inc. up 2.753% at $774.39, Nike Inc. down 6.26% to $149.59, Moderna Inc. down 5.381% to $430.14, Dexcom Inc. down 2.094% to $560.74, NVIDIA Corp. down 1.784% at $220.81.

Economic news:

US: Early in the pandemic, there were encouraging and surprising signs about the decline of credit card debt.

Now, that trendline seems to be changing.

Many Americans stayed at home at the start of COVID-19 and did not spend like they usually do. They also received several rounds of emergency cash assistance, helping to chip away at those credit-card bills, at least temporarily. Spending is ticking back up – and the results are starting to show up on our monthly statements.

In fact, 42% of those with credit card debt, or 59 million Americans, say they have added to their balances since the beginning of the pandemic, according to a new study by personal finance site Bankrate.com.

“Things are better for some, but they are not better for everybody,” explains Ted Rossman, Bankrate’s senior industry analyst.

The end of stimulus checks, expanded unemployment benefits and the eviction moratorium does not bode well for debt management, Rossman added.

Eurozone: Britain’s opposition Labour Party hinted on Sunday at new taxes on wealth, identifying landlords and shareholders as possible targets if it won power at the next election.

Labour’s would-be finance minister Rachel Reeves used an interview before her speech at the party’s annual conference in Brighton to preview what she called “a fair tax system”.

“I do think that people who get their income through wealth should have to pay more,” Reeves told the Sunday Times, specifying “people who get their incomes through stocks and shares and buy-to-let properties”.

Conservative Prime Minister Boris Johnson is two years into what could be a five-year term, after winning over many traditional Labour voters at the last election with a focus on finishing Brexit.

But the COVID-19 panic has forced his centre-right government to rapidly increase government spending and rack up debts that are likely to take generations to pay off.

A Labour government would look to shift that burden further towards the wealthy, Reeves said.

Important Data: US Core Durable Goods Orders (MoM) (Aug) today at 8:30 this time estimated 0.5%, previously which was 0.8%. AUSTRALIA Retail Sales (MoM) (Aug) today at 21:30 this time estimated -2.5%, previously which was -2.7%. UK BoE Gov Bailey Speaks at 11:00. EURO ZONE ECB President Lagarde Speaks   today at 07:45.     

TECHNICAL SUMMARY        

GBPUSD

TRADE SUGGESTION- SELL AT 1.36782, TAKE PROFIT AT 1.36541 AND STOP LOSS AT 1.36971

EURUSD

TRADE SUGGESTION- SELL AT 1.17034, TAKE PROFIT AT 1.16964 AND STOP LOSS AT 1.17138

USDJPY

TRADE SUGGESTION- BUY AT 110.646, TAKE PROFIT AT 110.80 AND STOP LOSS AT 110.520

USDCHF

TRADE SUGGESTION- BUY AT 0.92718, TAKE PROFIT AT 0.92839 AND STOP LOSS AT 0.92669

S&P 500

TRADE SUGGESTION- BUY AT 4456.24 TAKE PROFIT AT 4473.88 AND STOP LOSS AT 4441.33

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 74.70 TAKE PROFIT AT 75.39 AND STOP LOSS AT 74.13

GOLD

TRADE SUGGESTION- SELL AT 1753.90, TAKE PROFIT AT 1743.93 AND STOP AT 1760.78

BTCUSD

TRADE SUGGESTION- SELL AT 43783.00 TAKE PROFIT AT 42950.58 AND STOP AT 44739.99

About Author