Technical Analysis with Candlestick Charts – 29 September 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 29 September 2021

Asia Pacific stocks were mostly down on Wednesday morning. The Shanghai composite is down 1.34% at 3,553.98. Overall, the Singapore MSCI down 0.46% at 354.40. Over in Hong Kong, the Hang Seng Index up 0.40% at 24,580.00. In Japan, the Nikkei 225 down 1.34% at 29,520.00, while the Topix index is down 1.00% at 2035.0. South Korea’s Kospi down 1.28% to 3058.36. Australia S&P/ASX 200 down 1.29% at 7181.8.

European equities Tuesday closing. The DAX futures contract in Germany traded down 2.09% at 15248.56, CAC 40 futures down 2.17% at 6506.51 and the UK 100 futures contract in the U.K. down 0.50% at 7,028.09.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.63% at 34300.00. The S&P 500 down 2.04% at 4352.64 and the Nasdaq 100 up 0.44% at 14852.00, NYSE closes at 16328.78 down 1.63%.

In the Forex market, GBPUSD up 0.08% at 1.3544. The USDJPY down 0.02% at 111.465. The USDCHF up 0.01% at 0.9293. EURUSD down 0.02% at 1.16817, EUR/GBP down 0.03% at 0.86242. The USD/CNY up 0.07% at 6.4643 at the time of writing.

In the commodity market U.S. Gold futures up 0.25% at $1,738.61. Elsewhere, Silver futures down 0.41% to $22.332 per ounce, Platinum down 0.08% at $963.20 per ounce, and Palladium up 1.01% at $1897.50.

Crude Oil down on Wednesday; Brent crude oil down 0.60% at $77.69 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.20% at $75.95.

In the Cryptocurrency Markets, BTCUSD at 42183.54 up 2.76%, Ethereum up 3.41% at 2903.66, Litecoin at 144.78 up 2.97%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Electronic Arts. up 1.356% at $133.77, Hewlett Packard Enterprise Co. up 1.286% at $14.18, MSCI Inc. down 6.401% to $597.80, Moderna Inc. down 6.401% to $597.80, ETSY Inc. down 5.948% to $212.35, IHS Markit Ltd. down 5.047% at $116.47.

Economic news:

US: U.S. Treasury Secretary Janet Yellen said on Tuesday she is looking for G20 countries to reach political agreement on a global minimum corporate tax deal at their summit in October and has not ruled out a rate higher than 15%.

Yellen, speaking to the National Association for Business Economics, said the Senate Finance Committee is looking at a “slightly higher” overseas minimum corporate tax rate than the 16.5% passed by the House of Representatives Ways and Means Committee.

“We’ll see where it all shakes out, but my hope is that when reconciliation (legislation) passes, we will come into compliance with this regime, and we’re looking for political agreement to be achieved at the G20 summit at the end of October, and then countries will quickly put this into place,” Yellen said.

Some 134 countries agreed over the summer to support a global minimum tax of at least 15%, but low-tax Ireland has held off on endorsing the deal as it waits to see if the U.S. Congress accepts the Biden administration’s proposed tax increases on corporations and wealthy Americans.

Eurozone: The European Union and China must continue engaging on a number of issues despite differences, the bloc’s foreign policy chief Josep Borrell told his Chinese counterpart Wang Yi in a video call on Tuesday, according to an EU statement.

“The High Representative noted that while disagreements still persisted, the EU and China needed to continue engaging intensively in a number of important areas,” the EU said, adding Borrell underscored the inclusive and cooperative character of Europe’s Indo-Pacific strategy.

China’s foreign minister Wang said that both sides must continue the trend of increased engagement in an effort to boost political trust and manage their differences, according to a statement on the ministry website.

The EU is taking a softer stance on China, one of its most important trade partners, than the United States which has struck a new security deal (AUKUS) with Britain and Australia that is widely seen as designed to counter China’s growing assertiveness in the Pacific.

Important Data: US Crude Oil Inventories today at 10:30 this time estimated -1.652M, previously which was -3.481M. US Crude Oil Inventories today at 10:00 this time estimated 1.4%, previously which was -1.8%. JAPAN Industrial Production (MoM) (Aug) at 19:40 this time estimated -0.5%, previously which was -1.5%. AUSTRALIA Private Sector Credit (MoM) (Aug) today at 21:30 previously which was 0.7%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35489, TAKE PROFIT AT 1.35301 AND STOP LOSS AT 1.35583

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.16775, TAKE PROFIT AT 1.16604 AND STOP LOSS AT 1.16960

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 150.938, TAKE PROFIT AT 150.522 AND STOP LOSS AT 151.351

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 119.858, TAKE PROFIT AT 120.380 AND STOP LOSS AT 119.641

NASDAQ 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 14848.24 TAKE PROFIT AT 14772.51 AND STOP LOSS AT 14928.35

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 73.79 TAKE PROFIT AT 74.82 AND STOP LOSS AT 72.92

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1736.99, TAKE PROFIT AT 1730.90 AND STOP AT 1752.32

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 42439.00 TAKE PROFIT AT 40738.43 AND STOP AT 44046.17

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