Technical Analysis Report on 11 November 2020
Asian Stocks Up, Vaccine Optimism Gains Continue.The Shanghai composite isdown0.39% at 3,346.81 Overall, the Singapore MSCIdown0.55% to 307.3.Over in Hong Kong, the Hang Seng Index down by 0.03% to 26,354. In Japan, the Nikkei 225 up1.52% to 25,330 ,while the Topix index was up1.50% to 1727. South Korea’s Kospi up1.22% to 2,482.7. Australia S&P/ASX 200 up1.72% to6449.7.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.51% up at 13163, CAC 40 futures in France up1.55% at5519 and the UK 100 futures contract in the U.K.up1.79% at 6,296.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up0.90% to 29420 the S&P 500down 0.14% to 3545.5 and the Nasdaq Composite down1.37% to 11553,NYSE closes at 13707down0.71%.
In the Forex market, GBPUSD down 0.11% at 1.3255. The USDJPY up 0.07% to 105.328.The USDCHF up 0.02% at 0.91519.EURUSD up0.06% at 1.182, EUR/GBPup 0.20% at 0.89173. The USD/CNY down 0.19% at 6.6021, at the time of writing.
In the commodity market U.S. Gold futures up0.27% $1,882.24. Elsewhere, Silver futures up0.63% to $24.363 per ounce, Platinum up0.38% at $889.33 per ounce, and Palladium up0.06% to $2,463.5.
Crude Oil uponTuesday, Brent crude oilup0.30% to $44.13a barrel while U.S. West Texas Intermediate (CLc1) isup 0.25%, to $41.89.
In the Cryptocurrency Markets, BTCUSD at 15412up 0.64%, Ethereum at462.44 up2.64%, Litecoin up2.52% at 59.38, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
General Motorsup5.44%at $41.08,Carnival Corpdown13.09% at$16.73,NVIDIA Corp. down6.315% to $510.8,PepsiCo Inc. up 2.362% to $141.72,CSX Corpup3.628% to $91.4,Procter & Gamble Co up1.645% at $140.26.
US:Kansas City Federal Reserve Bank President Esther George said Tuesday she was encouraged and surprised by the strength of the third-quarter bounceback from the coronavirus downturn, but said she expects growth to moderate, and believes Fed monetary policy is where it should be.
“The calibration right now is appropriate,” George said of the Fed’s near-zero interest rates and current pace of bond buys. The key risk to growth, she said in a virtual event put on by Monmouth University, is the coronavirus, which has put women and people of color out of work at higher rates than others, and continues to weigh on some sectors more than others.
Eurozone: Negotiators from the European Parliament and EU governments agreed the details of the 2021-2027 EU budget on Tuesday, in a crucial step for the activation of the bloc’s 1.8 trillion euro (£1.6 trillion) recovery package to make the economy greener and more digital.
“A deal for Europe – Council and European Parliament negotiators reach political agreement on the EU budget & recovery package,” the spokesman for the German presidency of the EU Sebastian Fischer said on Twitter.
The deal, which took almost four months to negotiate, now needs to be formally endorsed by EU governments and the European Parliament.
Important Data:US OPEC Monthly Report today at 06:00.UK NIESR GDP Estimateto be published today , previously which was 15.2%.JAPANTertiary Industry Activity Indexto be published today at 23:30 , previously which was 0.8%.
US Seevol Cushing Storage Report today at 9:30, previously which was 2.411M.
TRADE SUGGESTION- BUY AT 1.3296, TAKE PROFIT AT 1.34055 AND STOP AT 1.31649
TRADE SUGGESTION- SELL AT 1.18202 , TAKE PROFIT AT 1.17826 AND STOP LOSS AT 1.18572
TRADE SUGGESTION- BUY AT 0.6687, TAKE PROFIT AT 0.6709 AND STOP AT 0.6679
TRADE SUGGESTION- BUY AT 1.73069 , TAKE PROFIT AT 1.73746 AND STOP AT 1.72454
TRADE SUGGESTION- BUY AT 29495 , TAKE PROFIT AT 30000 AND STOP AT 29000
TRADE SUGGESTION- SELL AT 1878 TAKE PROFIT AT 1847 AND STOP AT 1889
TRADE SUGGESTION- BUY AT 42.3 , TAKE PROFIT AT 43.48 AND STOP AT 41.37
TRADE SUGGESTION- SELL AT 55 TAKE PROFIT AT 52.82 AND STOP AT 55.96
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