TECHNICAL ANALYSIS REPORT TODAY

TECHNICAL ANALYSIS REPORT TODAY – 22 JULY 2021

- July 22, 2021

Asia Pacific stocks were up on Thursday morning. The Shanghai composite is up 0.28% at 3,572.43. Overall, the Singapore MSCI up 1.69% at 361.15. Over in Hong Kong, the Hang Seng Index up 1.66% at 27,678. In Japan, the Nikkei 225 flat at 27,910, while the Topix index is flat at 1935.5. South Korea’s Kospi up 1.07% to 3250.21. Australia S&P/ASX 200 up 1.06% at 7386.4.

European equities Wednesday closing. The DAX futures contract in Germany traded up 1.36% at 15422.50, CAC 40 futures up 0.53% at 6498.79 and the UK 100 futures contract in the U.K. down 0.13% at 6,996.10.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.83% at 34798.01. The S&P 500 up 0.82% to 4358.68 and the Nasdaq 100 up 0.25% at 14887.9, NYSE closes at 16503.46 up 1.11%.

In the Forex market, GBPUSD up 0.25% at 1.37418. The USDJPY down 0.10% at 110.17. The USDCHF down 0.09% at 0.91696. EURUSD up 0.06% at 1.17965, EUR/GBP down 0.13% at 0.85841. The USD/CNY up 0.02% at 6.46418, at the time of writing.

In the commodity market U.S. Gold futures down 0.10% at $1,801.43. Elsewhere, Silver futures down 0.15% to $25.22 per ounce, Platinum up 0.40% at $1082.61 per ounce, and Palladium up 0.49% to $2,673.00.

Crude Oil mix on Thursday; Brent crude oil down 0.19% at $72.08 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.68% at $72.19.

In the Cryptocurrency Markets, BTCUSD at 32179.52 up 0.13%, Ethereum at 1992.99 down 0.17%, Litecoin at 118.20 up 0.66%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

CARNIVAL Corp. up 9.438% at $23.19, NETFLIX Inc. down 3.28% at $513.63, AMEREN Corp. down 2.001% to $82.3, NVIDIA Corp. up 4.288% to $194.1, SEAGEN Inc. down 1.17% to $143.6, BOEING Co. up 2.482% at $222.54.

Economic news:

US: The International Monetary Fund is estimating this month that global growth for 2021 will be about 6%, the same as forecast in April, but with some countries growing faster and others more slowly, IMF Managing Director Kristalina Georgieva said on Wednesday.

Georgieva, speaking at an online event sponsored by the Peterson Institute for International Economics, said that economic recovery will be held back unless the pace of COVID-19 vaccination picks up, adding that a goal of ending the pandemic by the end of 2022 will not be reached at the current pace.

The IMF projected in April that 2021 global growth would hit 6%, a rate unseen since the 1970s, as vaccine availability improves and economies reopen with the help of unprecedented fiscal stimulus, particularly in the United States.

But Georgieva said the relative lack of vaccine access in developing countries and the rapid spread of the COVID-19 Delta variant was threatening to slow the recovery’s momentum.

Eurozone: The European Central Bank is all but certain to promise an even longer period of stimulus on Thursday to make good on its commitment to boost inflation, but the debate among policymakers is likely to be tense and no new measures will be announced.

The Governing Council will meet for the first time since the ECB unveiled a tweaked inflation target earlier this month, the culmination of an 18-month strategic review of its roles in an array of areas from inflation to climate change.

Among its conclusions, it said longer periods of ultra-low inflation such as the current one requires “especially forceful or persistent” support — an ambiguous formulation that is proving difficult to convert into actual policy.

Rate-setters squabbled in early July over how to tailor their policy guidance to fit that commitment and eventually put off making any change in order to maintain unanimous support for the ambitious new strategy document.

Important Data: US Existing Home Sales (Jun) today at 10:00 this time estimated

5.9M, previously which was 5.8M. US Existing Home Sales (MoM) (Jun) today at 10:00 previously which was -0.9%. UK CBI Industrial Trends Orders (Jul) today at 6:00 this time estimated 16, previously which was 19. EURO ZONE Deposit Facility Rate (Jul) today at 7:45 this time estimated -0.5%, previously which was -0.5%.

TECHNICAL SUMMARY

GBPUSD