Technical Analysis with Candlestick Charts – 28 January 2022

Technical Analysis with Candlestick Charts – 28 January 2022

Technical Analysis

Asia Pacific stocks were mostly up on Friday morning. The Shanghai composite is down 0.24% at 3,385.96. Overall, the Singapore MSCI down 0.66% at 330.80. Over in Hong Kong, the Hang Seng Index down 1.08% at 23,581.00. In Japan, the Nikkei 225 up 1.83% at 26,700.00, while the Topix index is up 1.76% at 1875.00. South Korea’s Kospi up 1.92% to 2664.72. Australia S&P/ASX 200 up 2.19% at 6988.10.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.42% at 15524.27, CAC 40 futures up 0.60% at 7023.81 and the UK 100 futures contract in the U.K. up 1.13% at 7,554.32.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.02% at 34160.79. The S&P 500 down 0.54% at 4326.50 and the Nasdaq 100 down 1.20% at 14003.11, NYSE closes down 0.52% at 16152.11.

In the Forex market, GBPUSD up 0.23% at 1.34133. The USDJPY up 0.01% at 115.380. The USDCHF down 0.06% at 0.92987. EURUSD up 0.06% at 1.1152, EUR/GBP down 0.11% at 0.8314. The USD/CNY down 0.13% at 6.3563 at the time of writing.

In the commodity market U.S. Gold futures up 0.04% at $1,797.80. Elsewhere, Silver futures up 0.01% at $22.745 per ounce, Platinum up 0.34% at $1028.00 per ounce, and Palladium down 1.43% at $2339.00.

Crude Oil down on Friday; Brent crude oil down 0.08% at $89.86 per barrel while U.S. West Texas Intermediate (CLc1) down 0.71% at $84.84.

In the Cryptocurrency Markets, Bitcoin at 37340.99 up 0.36%, Ethereum up 1.41% at 2459.35, Litecoin at 108.26 up 1.28%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Ball Corp. up 8.571% at $93.99, Seagate Technology Holdings. up 7.652% at $103.68, Netflix Inc. up 7.506% to $386.70, Dow Inc. up 5.173% at $60.18, Tesla Inc. down 11.554% to $829.10, Intel Corp. down 7.042% at $48.05.

Economic news:

US: U.S. banks will enjoy stronger growth this year from their “bread-and-butter” business of taking deposits and lending money as the U.S. economy expands and the Federal Reserve prepares to raise interest rates for the first time in three years.

The Fed’s move could bring an end to the low interest-rate environment which banks have faced for most of the past decade and, particularly, through the COVID-19 pandemic.

Net interest income, the difference between what banks earn from lending and pay out on deposits and other funds, declined during the pandemic due to interest rate cuts and a drop in borrowing. But this is about to change in 2022.

The Fed on Wednesday signalled it is likely to raise U.S. interest rates in March. Federal funds futures have priced in another three rate hikes later in the year.

“Banks that, for the last ten years, were not able to enjoy a steady yield curve are going to get it,” said Ken Leon, research director at CFRA Research, referring to the line that shows the interest rates buyers of government debt require to lend over increasing periods of time.

Eurozone: Russia said on Thursday it was clear the United States was not willing to address its main security concerns in their standoff over Ukraine, but both sides kept the door open to further dialogue.

The United States and NATO submitted written responses on Wednesday to Russia’s demands for a redrawing of post-Cold War security arrangements in Europe since it massed troops near Ukraine, prompting Western fears of an invasion and new U.S. pledges of defense support.

Kremlin spokesman Dmitry Peskov said Moscow needed time for review and would not rush to conclusions, but that U.S. and NATO statements describing Russia’s main demands as unacceptable did not leave much room for optimism.

“Based on what our (U.S. and NATO) colleagues said yesterday, it’s absolutely clear that on the main categories outlined in those draft documents … we cannot say that our thoughts have been taken into account or that a willingness has been shown to take our concerns into account,” Peskov said. “But we won’t rush with our assessments.”

Important Data: German GDP (QoQ) (Q4) today at 4:00 this time estimated -0.3%, previously which was 1.7%. US Personal Spending (MoM) (Dec) today at 8:30 this time estimated -0.6%, previously which was 0.6%. US Employment Cost Index (QoQ) (Q4) today at 8:30 this time estimated 1.2%, previously which was 1.3%. Spanish GDP (QoQ) (Q4) today at 3:00 this time estimated 1.4%, previously which was 2.6%.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34039, TAKE PROFIT AT 1.33846 AND STOP LOSS AT 1.34252

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.11487, TAKE PROFIT AT 1.11371 AND STOP LOSS AT 1.11595

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 154.705, TAKE PROFIT AT 154.403 AND STOP LOSS AT 155.393

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 124.051, TAKE PROFIT AT 123.769 AND STOP LOSS AT 124.306

HANG SENG

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 23600.00 TAKE PROFIT AT 23388.00 AND STOP LOSS AT 23903.00.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 86.54 TAKE PROFIT AT 87.38 AND STOP LOSS AT 85.78

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1796.48, TAKE PROFIT AT 1789.94 AND STOP AT 1801.97

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 36908.49 TAKE PROFIT AT 35372.48 AND STOP AT 37412.10

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