Technical Analysis | Research Report 9th-october-2020

CapitalStreetFX

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Aug 6, 2015
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Asian stocks were mostly up on Friday morning, tracking U.S. markets and the news that Democrats and Republicans were continuing to try and iron out a COVID-19 stimulus deal. China’s markets also came back on stream after the Golden Week national holidays.

The Tokyo market’s index Nikkei 225 closed down by 0.18 % at 23,588.90 and the topix closed at 0.42% lower to 1,644.25 .Hong Kong’s Hang Seng index was down by 0.05 % to 24,084.05. Mainland Chinese stocks also edged lower today, as the Shanghai composite climbed up by 1.68% to about 3,272.05. South Korea’s Kospi climbed up by 0.21% to 2,391.96.

Australia stocks were higher after the close on Friday, as gains in the Gold and industrial sectors led shares higher., with the S&P/ASX 200 inched up by 0.13 % to 6,092.80, at the time of writing.

European stock markets are seen opening in a cautious manner Friday, with continued worries about the Covid-19 surge weighing despite growth in China’s service sector as well as renewed confidence of a U.S. stimulus package.

The pan-European Stoxx 50 climbed up by 0.20% to 3,262.19. In the cash markets, the DAX futures Germany was trading 0.11% higher at 13,055.87, CAC 40 futures in France climbed up 0.48% to 4,933.5, while the FTSE 100 futures in the U.K. rose by 0.12 % to 5966.8,at the time of writing.

The American stock market closed on a positive note. The Nasdaq 100 was up by 0.29% to 11,571.20 , the S&P 500 was up by 0.37% to 3,450.80 and the Dow Jones was up by 0.33% at 28,404.90, at the time of writing.

On the economic front, Britain’s economy grew much more slowly than expected in August, with gross domestic product rising by just 2.1% from July, its slowest month-on-month increase since the economy began its recovery in May. Additionally, French industrial production rose 1.3% in August from July, increasing at a much slower pace than in previous months, data from France’s statistics agency Insee showed Friday.

In the United States, Revenue from trading bundles of home loans at the biggest global banks – including JPMorgan (NYSE:JPM), Citi and Goldman Sachs (NYSE:GS) among others – is expected to top $3 billion in 2020, one source with direct knowledge of the banks’ trading revenue said, besting last year’s peak of $2.5 billion.

In the corporate news,Danish jewellery maker Pandora (OTC:pANDY) stock jumped 13% and German online fashion company Zalando SE (DE:ZALG) rose 4.6% and Danish pharma company Novo Nordisk (NYSE:NVO) gained 3.3% after all raising their outlooks for 2020. In Japan, Mitsubishi Motors Corp. (T:7211), which fell 4.24% or 10.0 points to trade at 226.0 at the close. Takashimaya Co., Ltd. (T:8233) declined 4.22% or 37.0 points to end at 839.0 and JGC Corp. (T:1963) was down 3.55% or 38.0 points to 1031.0.

On the data front, UK’s GDP MoM, Manufacturing Production (MoM) (Aug) and Monthly GDP 3M/3M Change released at 02:00 local time today; the actual figures are 2.1%, 0.7% and *% respectively. Late today In Canada, Employment Change for September is scheduled to release at 8:30 local time, the forecast is 156.6K and previous was 245.8K.

In the currency market ,EUR/USD was up by 0.11% to 1.1771 . The AUD/USD was up by 0.26% to 0.7185 and the NZD/USD pair edged up by 0.62% to 0.6612.. The GBP/USD pair inched up by 0.25% to 1.2965, at the time of writing.

In the Commodity Markets, Gold prices climbed up by 1.01% to $1,914.50 ,on Friday . Spot gold (XAU/USD) was up by 0.18% at $1,909.09 per ounce. Elsewhere, silver futures gained by 2.14% to $24.388 per ounce and platinum climbed up 1.38 % to $880.74, while palladium edged 1.07% higher to 2412.70, at the time of writing. .

U.S. West Texas Intermediate crude futures climbed up by 0.13 % to 41.25 per barrel. Brent crude futures also climbed up by 0.18%, to $43.46 a barrel.

In the Cryptocurrency Markets, BTC/USD inched up by 2.49% and was trading at 10,901. Ethereum was also up by 4.03% to $349.11. Litecoin advanced 1.22% to 39.895, and Dash inched up by 1.54 % to 66.59,at the time of writing.

TECHNICAL SUMMARY

EURUSD


EURUSD

EURUSD

TRADE SUGGESTION- BUY AT 1.17741 TAKE PROFIT AT 1.18334 AND STOP AT 1.16913

GBPUSD


GBPUSD

GBPUSD

TRADE SUGGESTION – BUY AT 1.29536, TAKE PROFIT AT 1.30374 AND STOP AT 1.28614

USDJPY


USDJPY

USDJPY

TRADE SUGGESTION- BUY AT 105.935, TAKE PROFIT AT 106.227 AND STOP AT 105.395

USDCHF


USDCHF

USDCHF

TRADE SUGGESTION- SELL AT 0.91529, TAKE PROFIT AT 0.91125 AND STOP AT 0.91982

NASDAQ 100 INDEX


NASDAQ 100 INDEX

NASDAQ 100 INDEX

TRADE SUGGESTION- BUY AT 11570.21, TAKE PROFIT AT 11588.33 AND STOP AT 11431.62

BRENT CRUDE OIL FUTURES


BRENT CRUDE OIL FUTURES

BRENT CRUDE OIL FUTURES

TRADE SUGGESTION- BUY AT 43.33, TAKE PROFIT AT 44.71 AND STOP AT 41.69

GOLD


GOLD

GOLD

TRADE SUGGESTION- BUY AT 1909.94, TAKE PROFIT AT 1935.72 AND STOP AT 1880.12

BTCUSD


BTCUSD

BTCUSD

TRADE SUGGESTION- BUY AT 10860.86, TAKE PROFIT AT 10998.89 AND STOP AT 10735.03



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