Technical Analysis with Candlestick Charts – 30 March 2022

Technical Analysis with Candlestick Charts – 30 March 2022

DAILY FUNDAMENTAL SNAPSHOTS

Asia Pacific stocks were mostly up on Wednesday morning. The Shanghai Composite is down 0.33% at 3,203.93. Overall, the Singapore MSCI is up 1.26% at 340.35. Over in Hong Kong, the Hang Seng Index up 1.48% at 22,278.00. In Japan, the Nikkei 225 is up 0.29% at 28,000.00, while the Topix index is up 0.36% at 1968.00. South Korea’s Kospi up 0.21% to 2746.74. Australia S&P/ASX 200 up 0.67% at 7514.50.

Market Summary as per 29/03/2022:

European equities Tuesday closing. The DAX futures contract in Germany traded up 2.79% at 14,820.33, CAC 40 futures up 3.08% at 6792.17 and the UK 100 futures contract in the U.K. up 0.86% at 7,537.26.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.97% at 35294.20. The S&P 500 up 1.23% at 4631.61 and the Nasdaq 100 up 1.68% at 15239.32, NYSE closes up 1.29% at 17014.76.

Top Market News Today:

In the Forex market, GBPUSD up 0.28% at 1.3126. The USDJPY down 0.81% at 121.866. The USDCHF down 0.29% at 0.9279. EURUSD up 0.23% at 1.1110, EUR/GBP up 0.04% at 0.8466. The USD/CNY down 0.07% at 6.3555 at the time of writing.

In the Commodity market U.S. Gold futures up 0.24% at $1,923.83. Elsewhere, Silver futures up 0.33% at $24.860 per ounce, Platinum up 1.22% at $995.00 per ounce, and Palladium up 2.22% at $2206.00.

Crude Oil up on Wednesday; Brent crude oil up 0.85% at $112.12 per barrel while U.S. West Texas Intermediate (CLc1) up 1.34% at $102.30.

In the Cryptocurrency Markets, Bitcoin at 47391.89 down 0.18%, Ethereum down 1.00% at 3418.50, Litecoin at 128.95 down 1.02%, at the time of writing.

Top Market Segment to Watch Out Today:

UBS: UBS spent 3.81 billion Swiss francs ($4.10 billion) repurchasing its shares equivalent to 6.49% of its share capital in its 2021 buyback, the Swiss bank said on Wednesday.

The cancellation of most of the repurchased shares will be proposed at the bank’s upcoming shareholder meeting on April 6. The lender plans to repurchase up to $6 billion of its shares under its latest scheme, equivalent to around 8.52% of its share capital.

Economic News:

US: U.S. consumer confidence edged higher in March from a year-low reading a month earlier, with Americans’ assessment of current economic conditions improving on the back of a healthy job market, offsetting concerns over the war in Ukraine and inflation that have further darkened their outlook.

The Conference Board said on Tuesday its consumer confidence index rose to a reading of 107.2 this month from a downwardly revised 105.7 in February. Economists polled by Reuters had forecast the index decreasing to 107.0 from the initially reported reading of 110.5 in February.

The large downward revision to February put that reading at the lowest in a year. Russia invaded Ukraine in late February, an event that triggered a global surge in oil prices, which sent U.S. gasoline prices to a record high earlier this month.

Eurozone: The European Union plans to lend Tunisia 450 million euros ($500 million) to support its budget and invest 4 billion euros in the coming years, as the North African country seeks international help to address a looming crisis in public finances.

Speaking after a meeting with Tunisian government officials in Tunis on Tuesday, the EU commissioner for enlargement, Olivier Varhelyi, said the loan would be sent by April and included 300 million euros allocated last year.

Credit rating agency Fitch this month downgraded Tunisian sovereign debt to junk status and investment bank Morgan Stanley (NYSE:MS) said it expected the government to default on loans.

Tunisia’s public finances were already stretched before the pandemic and political turmoil since President Kais Saied suspended parliament and moved to one-man rule last year has delayed efforts to seek additional help.

Top Economic Releases Today:

  1. U.S. GDP (QoQ) (Q4) today at 8:30 this time estimated 7.1%, previously which was 2.3%. 
  2. U.S. Crude Oil Inventories today at 10:30 this time estimated -1.022M, previously which was -2.508M.
  3. JAPAN Industrial Production (MoM) (Feb) today at 19:50 this time estimated 0.5%, previously which was -0.8%.
  4. AUSTRALIA Private Sector Credit (MoM) (Feb) today at 20:30 previously which was 0.6%.
  5. CHINA Manufacturing PMI (Mar) today at 21:30 this time estimated 49.90, previously which was 50.20.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.3121, TAKE PROFIT AT 1.3081 AND STOP LOSS AT 1.3155

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.1124, TAKE PROFIT AT 1.1153 AND STOP LOSS AT 1.1103

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 159.823, TAKE PROFIT AT 158.998 AND STOP LOSS AT 160.093

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 131.200, TAKE PROFIT AT 130.721 AND STOP LOSS AT 131.642

NASDAQ 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 15193.44 TAKE PROFIT AT 15403.60 AND STOP LOSS AT 14985.44

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 105.58 TAKE PROFIT AT 103.84 AND STOP LOSS AT 107.65

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1920.72, TAKE PROFIT AT 1903.58 AND STOP AT 1940.55

BITCOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 47485.31 TAKE PROFIT AT 48161.76 AND STOP AT 47155.97

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