WEEKLY TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 21 AUGUST 2022

-

 

WEEKLY SNAPSHOT

    CPI (YoY) (Jul), U.K.

    WHEN:                                                                 WHAT IT HAD INFLUENCED:

17th AUGUST 2022                                                      GBP and its subsequent pairs

WHAT HAPPENED: The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

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

    Retail Sales (MoM) (Jul), U.S.

    WHEN:                                                                 WHAT IT HAD INFLUENCED:

     17th AUGUST 2022                                                      USD and its subsequent pairs

WHAT HAPPENED: Retail Sales measure the change in the total value of sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. 

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

CPI (YoY) (Jul), EUROZONE

WHEN:                                                                WHAT IT HAD INFLUENCED:

18th AUGUST 2022                                                     EUR and its subsequent pairs 

WHAT HAPPENED: The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

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

Gold Down 3% on Week as Mixed Data Raises Questions on Next Fed Move

WHAT IT HAD INFLUENCED:

GOLD 

WHAT HAPPENED: 

Gold fell almost 3% for the week as mixed data raises questions on whether the fledgling U.S. recession will deepen or the dollar will pick up steam again as the Federal Reserve weighs more outsized rate hikes.

The benchmark gold futures contract on New York’s Comex, December, settled at $1,762.90 per ounce, down $8.30, or 0.5% on Friday. For the week, December gold lost almost $53, or 2.9%.

The spot price of bullion, more closely followed than futures by some traders, was at $1,747.68 by 15:40 ET (19:40 GMT), down 0.6% on the day and 3% on the week.


TOP COMMODITIES IN THE COMING WEEK

     GOLD

Weekly Technical Analysis

GOLD is trading in the down channel. The further downside will be seen in the coming week. 


Read full report here

Comments

Post a Comment

Popular posts from this blog

TECHNICAL ANALYSIS REPORT – 12 AUGUST 2022

-
Image
  WALLSTREET LOWER ON THE EXPECTATION THAT FED STILL NEEDS AN INTEREST RATE HIKE   Asia-Pacific stocks tracked Wall Street losses and the yen fell on Friday. The Shanghai Composite is down 0.11% at 3,278.39. Overall, the Singapore MSCI is down 0.03% at 308.45. Over in Hong Kong, the Hang Seng Index is up 0.61% at 20,150.00. In Japan, the Nikkei 225 is up 2.63% at 28,510.00, while the Topix index is up 2.07% at 1972.50. South Korea’s Kospi is up 0.11% at 2,526.55. Australia S&P/ASX 200 down 0.65% at 7024.90. Top News of the Day: The Nasdaq and S&P 500 retreated to close lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The S&P 500 closed a tad lower after earlier hitting fresh three-month highs following data that showed the U.S. producer price index (PPI) unexpectedly fell in July. Market Summary as per 11/08/2022: European equit...
Read more

Day Trading Guide - Best Stocks to Buy Today - March 04, 2022

-
Image
  TOP 5 STOCKS TO WATCHOUT:- 1.HYUNDAI :     South Korea’s Hyundai Motor Co said on Friday it has not decided when to resume operations at its assembly plant in St Petersburg, Russia, citing ongoing issues with components delivery. “Hyundai Motor Company is deeply concerned by the situation in Ukraine. We can confirm operations of the Hyundai Motor Manufacturing Russia (HMMR) are suspended until further notice due to ongoing global logistics issues with components delivery,” it said in a statement to Reuters. “The safety of our employees and caring for our customers remains the utmost priority of Hyundai Motor. We sincerely hope the situation is resolved peacefully as soon as possible,” it added. Operations at the St Petersburg plant have been suspended since March 1. The South Korean automaker, which together with affiliate Kia Corp is among the world’s top 10 biggest automakers by sales, builds about 200,000 vehicles per year in Russia, about 4% of its global production...
Read more

HOW TO CHOOSE BEST FOREX BROKER

-
Image
 The foreign exchange market accounts for more than $4 trillion in average traded value every day, making it the world’s largest financial market. Since there is no central marketplace for the forex market, traders must select a forex broker to help them conduct their trading activity. There are a large and growing number of forex brokers, and choosing the right one requires. 5 Tips For Selecting A Forex Broker:- Regulatory Compliance:- In the U.S., a reputable forex broker will be a member of the National Futures Association (NFA) and will be registered with the U. S. Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant and Retail Foreign Exchange Dealer. The NFA is an industry-wide, self-regulatory organization for the futures industry in the United States. It develops rules, programs and services to protect the integrity of the market, traders and investors, and to help members meet regulatory responsibilities. The CFTC is an independent government agency...
Read more