Daily Market Report: April 16, 2021
Latest events and figures - make your trading smarter by following the daily summary of the hottest market news and announcements.
April 16, 2021
Dow Cracks 34,000 For the First Time
US stocks were higher after the close on Thursday, as gains in the Technology, Healthcare and Basic Materials sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average added 0.90% to hit a new all-time high, while the S&P 500 index gained 1.11%, and the NASDAQ Composite index climbed 1.31%.
The RSI is bullish and calls for further upside.
Long positions above 33,890.00, with targets at 34,130.00 & 34,290.00 in extension.
Below 33,890.00, look for further downside with 33,700.00 & 33,540.00 as targets.
The USD/CAD exchange rate pared early losses and looked to post modest daily gains around 1.2540.
The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50-period moving average (respectively at 1.2526 and 1.2517).
The upside prevails as long as 1.2505 remains as support.
The downside breakout of 1.2505 would call for 1.2475 and 1.2457.
Gold jumped as US sanctions on Russia reintroduce the political hedge trade.
The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. Prices could retrace in the short term. Gold is above its 20 and 50-period moving average (respectively at 1759.20 and 1747.70).
As long as 1,755.50 remains as support, look for 1,784.00.
Below 1,755.50, expect 1,745.00 and 1,739.00.
Crude oil prices edged higher Thursday, trading near one-month highs on increasing optimism for demand growth as the global economy continues to recover.
The RSI is mixed with a bullish bias.
Long positions above 62.00, with targets at 63.70 & 64.45 in extension.
Below 62.00, look for further downside with 61.40 & 60.90 as targets.
The EUR/USD currency pair loses traction before testing 1.2000, steadies around 1.1970.
The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero levels to trigger further gains.
A rebound to 1.2009 levels.
Below 1.1948, expect 1.1919 and 1.1902 as targets.
The GBP/USD exchange rate inched down 0.07% to 1.3769 before recovering to 1.3787 later in the trading session.
The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50-period moving average (respectively at 1.3785 and 1.3781).
The upside prevails as long as 1.3759 remains as support.
Below 1.3759, expect 1.3726 and 1.3706.
Customer Notice: The charts are provided by Trading Central, which is a respected third party research provider. The information provided should not be considered as trading or investment advice. 1Market provides Trading Central chart analysis to support clients in their trading decisions, which should be independently evaluated. The recipient acknowledges that he is solely responsible for his decisions. The analysis offered reflects the views of Trading Central and are subject to change at any time. Past performance of a financial asset is not a reliable indicator of its future performance. 1Market cannot be held liable for any information provided by Trading Central. 1Market makes no representation and assumes no liability as to the accuracy or completeness of the information provided nor any loss arising from any investment based on this material, forecast or other information supplied by an employee of 1Market, a third party or otherwise.
Trade with a Licensed Broker
Licensed by CySEC
Our EU client portal, operated by Exelcius Prime Ltd. under CySEC Regulation, license number 366/18.
Our global client portal.