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Report Daily Report and Market Analysis By CapitalStreetFx

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TECHNICAL ANALYSIS REPORT – 24 MARCH 2021

Asia Pacific stocks were mostly down Wednesday morning. The Shanghai Composite is down 1.36% at 3,365.20. Overall, the Singapore MSCI up 0.09% at 352.65. Over in Hong Kong, the Hang Seng Index down 2.24% to 27,842. In Japan, the Nikkei 225 down 1.80% at 28,300, while the Topix index is down 2.04% at 1919.0. South Korea’s Kospi down 0.31% to 2995.55. Australia S&P/ASX 200 up 0.50% at 6778.8.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.03% up at 1465762.02, CAC 40 futures down 0.39% at 5945.3 and the UK 100 futures contract in the U.K. down 0.40% at 6,699.2.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.94% at 32423.2, the S&P 500 down 0.76% to 3910.5 and the Nasdaq 100 down 0.53% at 13017.8, NYSE closes at 15346.52 down 1.32%.

In the Forex market, GBPUSD down 0.24% at 1.37124. The USDJPY down 0.06% at 108.503. The USDCHF up 0.05% at 0.93448. EURUSD down 0.05% at 1.18420, EUR/GBP up 0.31% at 0.86353. The USD/CNY up 0.14% at 6.5254, at the time of writing.

In the commodity market U.S. Gold futures up 0.26% at $1,731.58. Elsewhere, Silver futures up 0.21% to $25.123 per ounce, Platinum up 0.25% at $1169.38 per ounce, and Palladium up 0.10% to $2,604.50.

Crude Oil mix on Wednesday; Brent Crude Oil up 0.96% to $60.98 barrel while U.S. West Texas Intermediate (CLc1) is down 0.94% at $63.16.

In the Cryptocurrency Markets, BTCUSD at 53766.76 down 1.09%, Ethereum at 1662.92 down 0.43%, Litecoin at 190.00 up 2.11%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:
NETFLIX Inc. up 2.29% at $535.09, GAP Inc. down 7.715% at $27.87, INTEL Corp. down 3.276% at $63.48, DOW Inc. down 4.346% at $60.75, BOEING Co. down 3.973% at $241.25, GOLDMAN SACHS at 2.228% at $331.77, HONEYWELL Inter. Down 1.669% at $208.59, JP MORGAN Chase down 1.0% at $149.46.

Economic news:

US: The U.S. Treasury said on Tuesday it would issue further guidance on a contested provision in President Joe Biden’s $1.9 trillion coronavirus relief package that prohibits states from using stimulus money to replace revenue lost in tax cuts.

The provision has drawn criticism from 21 Republican state attorneys general, with Ohio’s top lawyer suing the Biden administration last week, arguing that broad language in the American Rescue Plan Act violated the state’s constitutional right to determine its own tax policies.

Treasury Secretary Janet Yellen said in a written response to those concerns: “It is well established that Congress may place such reasonable conditions on how states may use federal funding.”

“Nothing in the act prevents states from enacting a broad variety of tax cuts,” Yellen said, refuting the attorneys general arguments that the stimulus measure denies states the ability to cut taxes in any manner whatsoever.

Eurozone: The City of London may be better off staying out of the EU’s financial services market as it would have to sacrifice autonomy over setting rules to win full access, a report by Britain’s upper house of parliament said on Wednesday.

The European Union has yet to grant Britain direct financial market access after it left the bloc on Dec. 31 and large amounts of trading in stocks and derivatives denominated in euros has shifted to Amsterdam from London.

Brussels will consider whether to grant full access, known as equivalence, once it has agreed a memorandum of understanding with Britain on a new forum for cooperating on financial rules, an agreement that is due by the end of March.

“We agree that broad positive equivalence determinations would best meet the needs of practitioners in both the UK and the EU, but recognize that in many areas the EU is unlikely to grant these without the UK sacrificing more decision-making autonomy than equivalence is worth,” the lawmaker’s report said.

Important Data: UK CPI (YoY) (Feb) today at 3:00 this time estimated 0.8%, previously which was 0.7%. UK Services PMI (Mar) today at 5:30 previously which was 49.5. US Core Durable Goods Orders (MoM) (Feb) today at 8:30 this time estimated 0.6%, previously which was 1.3%. US Crude Oil Inventories today at 10:30 previously which was 2.396M.

TECHNICAL SUMMARY

GBPUSD



TRADE SUGGESTION- SELL AT 1.37065, TAKE PROFIT AT 1.36733 AND STOP LOSS AT 1.37510
EURUSD



TRADE SUGGESTION- SELL AT 1.18390, TAKE PROFIT AT 1.18059 AND STOP LOSS AT 1.18689
EURGBP



TRADE SUGGESTION- BUY AT 0.86324, TAKE PROFIT AT 0.86653 AND STOP LOSS AT 0.86013
EURJPY



TRADE SUGGESTION- SELL AT 128.516, TAKE PROFIT AT 128.232 AND STOP LOSS AT 128.747
FTSE 100



TRADE SUGGESTION- SELL AT 6666.6 TAKE PROFIT AT 6628.8 AND STOP LOSS AT 6698.1
WTI CRUDE OIL



TRADE SUGGESTION- SELL AT 58.33 TAKE PROFIT AT 57.22 AND STOP LOSS AT 59.11
GOLD



TRADE SUGGESTION- SELL AT 1729.74, TAKE PROFIT AT 1723.24 AND STOP AT 1739.21
BTC USD



TRADE SUGGESTION- SELL AT 55424 TAKE PROFIT AT 53707 AND STOP AT 56590


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Market Report as on 21st April 2021

ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.05% to 3,470.68. Hong Kong’s Hang Seng Index was down about 1.76% to 28,606.75.

EUROPEAN MARKET:-
The FTSE MIB climbed down by 2.44% to 24,088.46 In the cash markets, the DAX futures Germany was trading 1.55% lower at 15,29.25. CAC 40 futures in France climbed down by 2.09% to 6,165.11, while the FTSE 100 futures in the U.K. fell by 2.00% to 6,859.08, at the time of writing.

US MARKET:-
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.75% down at 33,821.30 the S&P 500 was down 0.68% to 4,134.94 and the Nasdaq 100 was down 0.92% at 13,786.27.

FOREX MARKET:-
In the Forex market, GBPUSD rose 0.04% at 1.3942. The USDJPY was down 0.05% at 108.03. The USDCHF was down 0.01% at 0.9158. EURUSD was down 0.04% at 1.2029, EUR/GBP was down 0.06% at 0.8628, at the time of writing.

COMMODITY MARKET;-
In the commodity market, U.S. Gold futures rose 0.51% at $1,787.70. Elsewhere, Silver futures rose 1.23% to $26.157 per ounce, Platinum rose 1.04% at $1,201.05 per ounce, and Palladium was up 0.91% at $2,785.50.

CRYPTO-CURRENCY MARKET:-
In the Cryptocurrency Markets, BTCUSD is at $55,661 up 3.45%, Ethereum at 2,321.18 up 11.90%, Litecoin at 265.442 up 11.46%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:
Barclays down 3.13% at 181.80, Apple Inc. down 1.28% at $133.11, Amazon down 1.28% at $ 3,334.44, TESLA Inc. up 0.61% at $718.99, Toyota Motor flat at 8,418.0, Microsoft down 0.77% at $258.74, SAP down 0.77% at 115.290.

TECHNICAL SUMMARY

EUR/USD:-
TRADE SUGGESTION- BUY AT 1.2010, TAKE PROFIT AT 1.2060 AND STOP LOSS AT 1.1985.

NASDAQ 100:- TRADE SUGGESTION- SELL AT 0.9175, TAKE PROFIT AT 0.9115 AND STOP LOSS AT 0.9205.

SILVER:- TRADE SUGGESTION- Buy AT 25.960, TAKE PROFIT AT 26.110 AND STOP LOSS AT 25.935.

BITCOIN :- TRADE SUGGESTION- SELL AT 55,510.50, TAKE PROFIT AT 57,510.50 AND STOP LOSS 54,510.50.

Please check out the link to read full Report.
 
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