Technical Analysis of the Financial Markets - 17 March 2021

Discussion in 'Technical Analysis' started by csfx, Mar 17, 2021.

  1. csfx

    csfx

    Asia Pacific stocks were mostly down Wednesday morning ahead of the U.S. Federal Reserve’s policy decision due later in the day. The Shanghai composite is down 0.03% at 3,445.63. Overall, the Singapore MSCI down 0.09% at 350.40. Over in Hong Kong, the Hang Seng Index up 0.15% to 28,995. In Japan, the Nikkei 225 up 0.07% at 29,740, while the Topix index is up 0.31% at 1966.0. South Korea’s Kospi down 0.54% to 3050.65. Australia S&P/ASX 200 down 0.47% at 6795.2.

    European equities Tuesday closing. The DAX futures contract in Germany traded 0.66% up at 14557.58, CAC 40 futures up 0.32% at 6055.4 and the UK 100 futures contract in the U.K. up 0.80% at 6,803.6.

    In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.39% up at 32826.0, the S&P 500 down 0.16% to 3962.7 and the Nasdaq 100 down 0.11% at 13154.9, NYSE closes at 15669.29 down 0.67%.

    In the Forex market, GBPUSD up 0.06% at 1.39. The USDJPY up 0.09% at 109.086. The USDCHF up 0.09% at 0.92543. EURUSD up 0.05% at 1.19076, EUR/GBP up 0.01% at 0.85654. The USD/CNY down 0.08% at 6.4998, at the time of writing.

    In the commodity market U.S Gold futures up 0.31% at $1,736.46. Elsewhere, Silver futures up 0.01% to $25.919 per ounce, Platinum down 0.33% at $1209.33 per ounce, and Palladium down 0.38% to $2,489.50.

    Crude Oil mix on Wednesday; Brent crude oil up 0.42% to $68.76 barrel while U.S. West Texas Intermediate (CLc1) is down 0.44% at $64.89.

    In the Cryptocurrency Markets, BTCUSD at 56182.31 down 1.28%, Ethereum at 1783.29 down 1.24%, Litecoin at 199.45 down 1.15%, at the time of writing.

    TOP STOCKS TO WATCH OUT TODAY:

    DISCOVERY Inc. up 2.905% at $75.81, MICRON TECHNOLOGY up 2.904% at $91.43, FORD MOTOR Co. down 5.379% to $12.49, CARNIVAL Corp. up 5.17% to $28.25, MODERNA Inc. up 8.604% to $156.02, FACEBOOK up 2.02% at $279.28.

    Economic news:

    US: U.S. companies are opting to issue bonds with fixed coupons rather than floating rates as the spectre of a rapid rise in yields impels them to lock in their costs of borrowing.

    Refinitiv data showed U.S. companies have issued $456 billion through fixed-coupon bonds until March 15, a 12% increase over the same period last year.

    At the same time, they have borrowed just $77 billion through floating-rate bonds in that period, a 33% decline.

    Eurozone: The European Central Bank won’t allow interest rates to rise too soon while the economy still grapples with the coronavirus pandemic, according to its chief economist.

    “Our objective is basically to make sure the yield curves, which play an important role in determining overall financing conditions, do not move ahead of the economy,” Philip Lane said in an interview with the Financial Times.

    “It is really a shift in monetary policy away from focusing on just the short-term rate by looking at all financing conditions,” because long-dated yields are key too.

    Policy makers decided last week to “significantly” increase the pace of buying in coming months amid concerns that higher yields will pull the rug out from under the euro-area economic recovery.

    Important Data: EURO ZONE CPI (YoY) (Feb) today at 6:00 this time estimated 0.9%, previously which was 0.9%. US Building Permits (Feb) today at 8:30 this time estimated 1.75M, previously which was 1.886M. CANADA Core CPI (MoM) (Feb) today at 8:30 previously which was 0.5%. US Crude Oil Inventories today at 10:30 this time estimated 2.964M, previously which was 13.798M.

    TECHNICAL SUMMARY

    GBPUSD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- SELL AT 1.3854, TAKE PROFIT AT 1.3824 AND STOP LOSS AT 1.3898

    EURUSD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- SELL AT 1.19266, TAKE PROFIT AT 1.19054 AND STOP LOSS AT 1.19636

    EURGBP

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- SELL AT 0.86080, TAKE PROFIT AT 0.85946 AND STOP LOSS AT 0.86203

    EURJPY

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 130.145, TAKE PROFIT AT 130.440 AND STOP LOSS AT 129.966

    S&P 500

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 3969.66 TAKE PROFIT AT 4000 AND STOP LOSS AT 3932.35

    WTI CRUDE OIL

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 64.61 TAKE PROFIT AT 65.30 AND STOP LOSS AT 64.31

    GOLD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- SELL AT 1727.55, TAKE PROFIT AT 1715.82 AND STOP AT 1739.42

    BTC USD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 55090.00 TAKE PROFIT AT 55993.00 AND STOP AT 54466.53
     
  2. csfx

    csfx

    Asia Pacific stocks were mostly up Thursday morning. The Shanghai composite is up 0.27% at 3,454.97. Overall, the Singapore MSCI up 0.84% at 354.45. Over in Hong Kong, the Hang Seng Index up 1.53% to 29,433. In Japan, the Nikkei 225 up 1.08% at 30,030, while the Topix index is up 1.53% at 1992.0. South Korea’s Kospi up 0.62% to 3066.53. Australia S&P/ASX 200 down 0.73% at 6745.9.

    European equities Wednesday closing. The DAX futures contract in Germany traded 0.27% up at 14596.61, CAC 40 futures down 0.01% at 6054.8 and the UK 100 futures contract in the U.K. down 0.60% at 6,762.7.

    In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.58% up at 33015.4, the S&P 500 up 0.29% to 3974.1 and the Nasdaq 100 up 0.38% at 13202.4, NYSE closes at 15731.14 up 0.39%.

    In the Forex market, GBPUSD up 0.02% at 1.39616. The USDJPY up 0.04% at 108.878. The USDCHF up 0.07% at 0.92308. EURUSD down 0.07% at 1.19687, EUR/GBP down 0.03% at 0.85724. The USD/CNY down 0.13% at 6.4947, at the time of writing.

    In the commodity market U.S Gold futures up 0.37% at $1,750.90. Elsewhere, Silver futures up 1.08% to $26.530 per ounce, Platinum up 0.52% at $1220.78 per ounce, and Palladium up 0.99% to $2,600.50.

    Crude Oil down on Thursday; Brent crude oil down 0.19% to $67.62 barrel while U.S. West Texas Intermediate (CLc1) is down 0.14% at $64.80.

    In the Cryptocurrency Markets, BTCUSD at 58851.98 down 0.08%, Ethereum at 1825.48 up 0.23%, Litecoin at 206.91 up 0.53%, at the time of writing.

    TOP STOCKS TO WATCH OUT TODAY:

    GENERAL MOTORS up 5.13% at $60.05, DOW Inc up 4.479% at $66.01, UNITED AIRLINES up 4.414% at $62.45, COMCAST Corp. down 0.93% at $57.50, FACEBOOK Inc. at 1.694% at $284.01, AMGEN Inc. up 1.644% at $244.27, 3M Co. up 0.776% at $188.3.

    Economic news:

    US: The global economy is set to grow by 4.7% this year thanks to a stronger-than-expected recovery in the United States, a report by the U.N. Conference on Trade and Development (UNCTAD) said on Thursday, revising up its previous forecast of 4.3%.

    The upwards revision from its previous forecast made last September factors in an expected boost in U.S. consumer spending on the back of progress distributing COVID-19 vaccines and a vast stimulus package, the report said.

    “The global recovery that began in the third quarter of 2020 is expected to continue through 2021, albeit with a good deal of unevenness and unpredictability, reflecting epidemiological, policy and coordination uncertainties,” the report said.

    Eurozone: The Bank of England will probably try on Thursday to keep a lid on expectations that Britain’s economy is heading for a strong, vaccine-boosted recovery after suffering its worst crash in three centuries last year.

    The central bank is not expected to change its huge, crisis-fighting stimulus programme at 1200 GMT, after its March policy meetings.

    Instead, investors will be trying to gauge how confident it is that Europe’s fastest COVID-19 vaccination campaign and yet more spending and tax cuts in finance minister Rishi Sunak’s March 3 budget will trigger a bounce-back in the months ahead.

    BoE Governor Andrew Bailey said on Monday he was more optimistic about the recovery. But he stressed his view came “with a large dose of caution” with Britain still in the grip of a third lockdown and facing the risk of new COVID-19 variants.

    Important Data: US Initial Jobless Claims today at 8:30 this time estimated 700K, previously which was 712K. AUSTRALIA Retail Sales (MoM) today at 20:30 previously which was 0.5%. UK BoE Interest Rate Decision (Mar) today at 8:00 this time estimated 0.1%, previously which was 0.1%. EURO ZONE Wages in euro zone (YoY) (Q4) today at 6:00 previously which was 2.2%.

    TECHNICAL SUMMARY

    GBPUSD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 1.39845, TAKE PROFIT AT 1.40 AND STOP LOSS AT 1.39438

    EURUSD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- SELL AT 1.19748, TAKE PROFIT AT 1.19491 AND STOP LOSS AT 1.19979

    USDJPY

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 108.822, TAKE PROFIT AT 109.006 AND STOP LOSS AT 108.614

    USDCHF

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- SELL AT 0.92214, TAKE PROFIT AT 0.91984 AND STOP LOSS AT 0.92407

    NIKKEI 225

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 30074.00 TAKE PROFIT AT 30266 AND STOP LOSS AT 29912

    WTI CRUDE OIL

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 64.30 TAKE PROFIT AT 64.93 AND STOP LOSS AT 63.74

    GOLD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 1750.12, TAKE PROFIT AT 1764.34 AND STOP AT 1723.69

    BTC USD

    [​IMG]
    [​IMG]
    TRADE SUGGESTION- BUY AT 58768 TAKE PROFIT AT 60437 AND STOP AT 57455.13
     
  3. maxinger

    maxinger

    1. did you copy this info from somewhere?

    2. What is your intention in posting this information?
    What is your expertise?
    What is your track record?
    Is your intention to teach others on analyzing the financial market?

    Do note that there are tons of similar information on the internet.
    You have to prove that you are the all-mightly one.
    If not, no one is going to read it.


    3. If the answer to Q2 is No, what do you intend to learn?
     
  4. vinc

    vinc

    I can draw straight vertical lines all right!

    now any other lines being drawn on charts need SOME KIND OF ALGORYTM..
    can you explain how you draw yours? and are they thicker than one tick?
    any kid can draw a line..but if you put your own cash on the line,so to speak, that makes you THINK.. and then what you realize is that placing random lines makes you a gambler and placing the right ones with clear steps behind it is no trivial matter..maybe even impossible,no?
    so is there a method behind YOUR LINES?
     
  5. wrbtrader

    wrbtrader

    Have you ever wonder why these types of threads have no education value / no purpose nor any explanation what the thread starter is doing with the same information that he / she posted to the public ???

    By the way, I can not see the charts....they must be linked to an outside source that my country doesn't allow access to or the outside source site is down. :rolleyes:

    TA-With-No-Chart-Examples.png

    wrbtrader
     
  6. ph1l

    ph1l

    I think the idea is once you see all this valuable, free information you will want to get your "325% bonus and 100% insurance.":)
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