21 April 2022 Afternoon Session Analysis
Euro rallied amid pre-election debate on French.
The Euro extends its gains on yesterday following the French President Emmanuel Macron was found to be more convincing than far-right candidate Marine Le Pen in a pre-election debate on French television ahead of Sunday’s presidential runoff vote, according to Reuters. The snap survey by Elabe for BFM TV found that 59% of polled viewers found Macron more convincing than Le Pen. Polls of voting intentions for the April 24 election estimate that Macron will win with around 55.5% of the vote. In the year of 2017, Macron beat Le Pen with 66.1% of the vote.” Investors remained optimism that if Emmanuel Macron re-elected to become French President, it would more likely to reduce further geopolitical risk in France while spurring positive prospect on the economic progression in European region. As of writing, EURUSD edged down by 0.20% to 1.0828.
In commodities market, crude oil price appreciated by 0.91% to 103.12 per barrel as of writing after being rocked earlier in the week by supply losses from Libya and a worrying outlook for demand as the International Monetary Fund cut its global growth forecasts. On the other hand, gold price depreciated by 0.13% to 1953.05 per troy ounces as of writing amid the surge of US Dollar.
Today’s Holiday Market Close
Time Market Event
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Today’s Highlight Events
Time Market Event
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Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 17:00 | EUR – CPI (YoY) (Mar) | 7.50% | 7.50% | – |
| 20:30 | USD – Initial Jobless Claims | 185K | 175K | – |
| 20:30 | USD – Philadelphia Fed Manufacturing Index (Apr) | 27.4 | 20 | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher following prior rebound from the support level. However, MACD which illustrated decreasing bullish momentum suggest the index to be traded lower as technical correction.
Resistance level: 101.20, 101.95
Support level: 100.40, 99.10
GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.
Resistance level: 1.3090, 1.3135
Support level: 1.3010, 1.2930
EURUSD, H4: EURUSD was traded lower following prior breakout below the previous support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.
Resistance level: 1.0845, 1.0955
Support level: 1.0740, 1.0655
USDJPY, Daily: USDJPY was traded higher following prior rebound from the support level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains.
Resistance level: 129.05, 129.95
Support level: 128.00, 127.05
AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.
Resistance level: 0.7465, 0.7515
Support level: 0.7410, 0.7365
NZDUSD, H4: NZDUSD was traded lower following prior breakout below the previous support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.
Resistance level: 0.6800, 0.6870
Support level: 0.6740, 0.6675
USDCAD, H4: USDCAD was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.
Resistance level: 1.2520, 1.2565
Support level: 1.2465, 1.2415
USDCHF, H4: USDCHF was traded higher while currently testing the resistance level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains if successfully breakout the resistance level.
Resistance level: 0.9510, 0.9555
Support level: 0.9455, 0.9415
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level. MACD which illustrated decreasing bearish momentum suggest the commodity to extend its gains if successfully breakout the resistance level.
Resistance level: 103.75, 108.40
Support level: 98.55, 93.70
GOLD_, H4: Gold price was traded lower following prior retracement from the resistance level. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses.
Resistance level: 1957.85, 1969.05
Support level: 1942.40, 1929.90