Weekly Technical Analysis with Candlestick Charts – 02 January 2022

Weekly Technical Analysis with Candlestick Charts – 02 January 2022

5 KEY EVENTS TO WATCH OUT

     Construction PMI (Dec), U.K.

 WHEN:                                                              WHAT IT INFLUENCES:

 07th JANUARY 2022                                        GBP and its subsequent 

                                                                            Pairs

WHAT’S HAPPENING: The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager’s Index (PMI) measures the activity level of purchasing managers in the construction industry. A reading above 50 indicates expansion in the construction industry; a reading below indicates contraction. 

A higher-than-expected reading ought to be taken as positive/bullish for the GBP, whereas a lower-than-expected reading should be taken as negative/bearish for the GBP.

      ADP Nonfarm Employment Change (Dec), U.S.

WHEN:                                                                WHAT IT INFLUENCES:

05th JANUARY 2022                                                 USD and its subsequent 

                                                                             Pairs

WHAT’S HAPPENING: The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients

A higher-than-expected reading ought to be taken as positive/bullish for the USD, whereas a lower-than-expected reading should be taken as negative/bearish for the USD.

    RBA Interest Rate Decision (Jan), AUSTRALIA 

WHEN:                                                               WHAT IT INFLUENCES:

03rd JANUARY 2022                                         AUD and its subsequent 

                                                                            Pairs

WHAT’S HAPPENING: Reserve Bank of Australia (RBA) board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short-term interest rates are the primary factor in currency valuation.

A higher-than-expected reading ought to be taken as positive/bullish for the AUD, whereas a lower-than-expected reading should be taken as negative/bearish for the AUD.

Employment Change (Dec), CANADA

WHEN:                                                               WHAT IT INFLUENCES:

07th JANUARY 2022                                         CAD and its subsequent 

                                                                            Pairs 

WHAT’S HAPPENING:  Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.

A higher-than-expected reading ought to be taken as positive/bullish for the CAD, whereas a lower-than-expected reading should be taken as negative/bearish for the CAD.

Unemployment Change (Dec), GERMANY

WHEN:                                                               WHAT IT INFLUENCES:

04th JANUARY 2022                                         EUR and its subsequent 

                                                                            pairs

WHAT’S HAPPENING: German Unemployment Change measures the change in the number of unemployed people during the previous month.

A higher-than-expected reading ought to be taken as negative/bearish for the EUR, whereas a lower-than-expected reading should be taken as positive/bullish for the EUR.

EQUITIES IN THE COMING WEEK

1. Smart Global (SGH) to announce its Quarterly Results on 4th JANUARY 2022, EPS estimated to 1.49 per share while revenue estimated 452.39M. 

2. Unifirst (UNF) to announce its Quarterly Results on 5th JANUARY 2022, EPS estimated to 1.95 per share while revenue estimated 475.13M.

3. WD-40 (WDFC) to announce its Quarterly Results on 6th JANUARY 2022, EPS estimated to 1.57 per share while revenue estimated 130.80M.

4. Schnitzer (SCHN) to announce its Quarterly Results on 6th JANUARY 2022, EPS estimated to 1.67 per share while revenue estimated 813.72M.

5. Acuity Brands (AYI) to announce its Quarterly Results on 7th JANUARY 2022, EPS estimated to 2.42 per share while revenue estimated 880.24M.

TOP COMMODITIES IN THE COMING WEEK

GOLD

Technical Analysis

GOLD is currently in the upward channel. Further upside can be seen in the coming week. 

SILVER

Technical Analysis

SILVER is trading in the upward channel. Further upside can be seen in the coming week.

WTI CRUDE OIL

Technical Analysis

WTI CRUDE OIL is trading in the up channel. Further upside can be seen in the coming week.

TOP CRYPTO IN THE COMING WEEK

BTCUSD

Technical Analysis

BTCUSD is trading in the down channel; downside will be seen in the coming days. 

ETHEREUM

Technical Analysis

ETHEREUM is currently in the downward channel. Further downside can be seen in the coming week.   

 TOP CURRENCY IN THE COMING WEEK

EURUSD

Technical Analysis

EURUSD is trading in the up channel; further upside can be seen in the coming days.

GBPUSD

Technical Analysis

GBPUSD is trading in the up channel; further upside can be seen in the coming days.

USDCHF

Technical Analysis

USDCHF is currently in the downward channel. The further downside can be seen in the coming week.

TOP INDEX IN THE COMING WEEK

S&P 500

Technical Analysis

S&P 500 is trading in the up channel; further upside will be seen in the coming days.

FTSE 100

Technical Analysis

FTSE 100 is trading in the up channel; further upside will be seen in the coming days.

DATA WATCH

Technical Analysis

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