Technical Analysis with Candlestick Charts – 31 January 2022

Technical Analysis with Candlestick Charts – 31 January 2022

Asia Pacific stocks were mostly up on Monday morning. The Shanghai composite is up 0.39% at 3,407.59. Overall, the Singapore MSCI up 1.11% at 332.90. Over in Hong Kong, the Hang Seng Index up 1.91% at 23,862.00. In Japan, the Nikkei 225 up 1.24% at 27,040.00, while the Topix index is up 1.15% at 1896.50. South Korea’s Kospi up 1.87% to 2663.34. Australia S&P/ASX 200 up 1.95% at 6971.60.

European equities Friday closing. The DAX futures contract in Germany traded down 1.32% at 15318.95, CAC 40 futures down 0.82% at 6965.89 and the UK 100 futures contract in the U.K. up 0.24% at 7,531.00.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.65% at 34725.48. The S&P 500 up 2.44% at 4431.86 and the Nasdaq 100 up 3.22% at 14454.61, NYSE closes up 1.52% at 16397.86.

In the Forex market, GBPUSD up 0.27% at 1.34231. The USDJPY up 0.26% at 115.487. The USDCHF up 0.02% at 0.9311. EURUSD up 0.17% at 1.1166, EUR/GBP up 0.09% at 0.83185. The USD/CNY flat at 6.3605 at the time of writing.

In the commodity market U.S. Gold futures down 0.11% at $1,789.16. Elsewhere, Silver futures down 0.16% at $22.417 per ounce, Platinum up 0.20% at $1012.00 per ounce, and Palladium flat at $2376.50.

Crude Oil up on Monday; Brent crude oil up 0.54% at $91.17 per barrel while U.S. West Texas Intermediate (CLc1) up 0.75% at $85.48.

In the Cryptocurrency Markets, Bitcoin at 36996.93 down 2.49%, Ethereum down 3.53% at 2510.48, Litecoin at 104.77 down 3.70%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Visa Inc. up 10.599% at $228.00, Mastercard Inc. up 9.123% at $382.51, Discovery Inc. up 7.567% to $27.15, Moderna Inc. up 7.301% at $159.47, Western Digital Corp. down 7.318% to $49.90, Caterpillar Inc. down 5.189% at $201.16.

Economic news:

US: U.S. consumer spending fell in December, suggesting the economy lost speed heading into the new year amid snarled supply chains and raging COVID-19 infections, while annual inflation increased at a pace last seen nearly 40 years ago.

Wage inflation is also building up amid an acute shortage of workers. Private industry wages rose strongly in the fourth quarter, posting their largest annual gain since the mid-1980s, other data showed on Friday. Mounting inflation pressures could force the Federal Reserve to aggressively hike interest rates, stifling growth, economists warned.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 0.6% last month after gaining 0.4% in November, the Commerce Department said. The decline was in line with economists’ expectations.

The data was included in the advance gross domestic product report for the fourth quarter published on Thursday. The economy grew at a 6.9% annualized rate last quarter, accelerating from the July-September quarter’s 2.3% pace. That helped to boost growth in 2021 to 5.7%, the strongest since 1984. The economy contracted 3.4% in 2020.

Eurozone: British businesses are scaling back plans for pay rises and hiring, but almost half intend to increase the prices they charge customers as they seek to manage rapidly rising costs, a survey showed on Monday.

The figures from a monthly Lloyds (LON:LLOY) Bank survey will give mixed signals to the Bank of England on the persistence of inflation pressures – and the extent to which they will hamper growth – as it considers a widely expected rate rise this week.

A record 49% of the 1,200 businesses surveyed between Jan. 4 and Jan. 18 said they expected to raise prices, up from 45% in December.

But the proportion expecting to raise pay by 2% – well below the current 5.4% rate of inflation – fell to a five-month low of 41% from 48% in December. The number planning pay rises of 3% fell to 21% from 26% and those shares of those planning 4% pay rises dropped to 12% from 14%.

Important Data: US Chicago PMI (Jan) today at 9:45 this time estimated 61.7, previously which was 63.1. AUSTRALIA AIG Manufacturing Index (Dec) today at 16:30 previously which was 54.80. AUSTRALIA Retail Sales (MoM) (Dec) today at 19:30 this time estimated 3.9%, previously which was 7.3%. JAPAN Jobs/applications ratio (Dec) today at 18:30 this time estimated 1.16, previously which was 1.15.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34203, TAKE PROFIT AT 1.33835 AND STOP LOSS AT 1.34569

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.11636, TAKE PROFIT AT 1.11362 AND STOP LOSS AT 1.11826

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 115.365, TAKE PROFIT AT 115.589 AND STOP LOSS AT 115.184

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.93145, TAKE PROFIT AT 0.93283 AND STOP LOSS AT 0.93008

DAX 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 15497.70 TAKE PROFIT AT 15426.30 AND STOP LOSS AT 15573.70.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 87.24 TAKE PROFIT AT 87.76 AND STOP LOSS AT 87.05

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1787.00, TAKE PROFIT AT 1780.35 AND STOP AT 1791.30

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2517.65 TAKE PROFIT AT 2344.33 AND STOP AT 2623.39

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