28 December 2021 Morning Session Analysis
UK: No lockdown before New Years.
Market reacted positively towards pound sterling after UK government reiterated not to initiate any lockdown prior to New Year’s holiday. According to reports, UK government reluctant to enforce social distancing tightening or lockdown even though UK daily coronavirus cases increased significantly for the past 1 week. British Prime Minister Boris Johnson resisted any new measures which would be unpopular within his own party despite Scotland, Wales and Northern Ireland introduced new set of SOPs last weekend. British Health Minister Sajid Javid commented that they would like to wait more evidence with regards to Omicron variant and monitor whether UK healthcare can cope with high infection rates. Thus far, while UK has recorded more than 100,000 new cases in a day, hospitalization rate remains low while symptoms from Omicron infection remains mild. As of writing, GBP/USD was up 0.01% to 1.3441.
In the commodities market, crude oil price was up 0.10% to $75.75 per barrel. Oil prices extended its gains on yesterday over the backdrop of diminishing Omicron risks in the market. On the other hand, gold price was down 0.04% to $1,811.94 a troy ounce while market participants wait for more signals in the financial market.
Today’s Holiday Market Close
Time Market Event
All Day Australia Boxing Day
All Day UK Boxing Day
All Day Canada Boxing Day
All Day New Zealand Christmas
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
N/A
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from higher levels. MACD which illustrate diminished bullish signal suggests the index to be traded lower in short-term.
Resistance level: 96.10, 96.35
Support level: 95.85, 95.65
GBPUSD, H4: GBPUSD was traded lower following prior retracement from higher level. MACD which illustrate diminished bullish signals suggests the pair to be traded lower in short-term.
Resistance level: 1.3470, 1.3510
Support level: 1.3410, 1.3355
EURUSD, H4: EURUSD was traded higher following prior rebound from lower level. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term.
Resistance level: 1.1370, 1.1440
Support level: 1.1320, 1.1285
USDJPY, H4: USDJPY was traded lower following retracement from higher levels. MACD which illustrate diminished bullish signal suggests the pair to be traded lower in short-term.
Resistance level: 114.90, 115.45
Support level: 114.35, 113.70
AUDUSD, H4: AUDUSD was traded lower following retracement from higher level. MACD which illustrate bearish signal suggests the pair to be traded lower short-term.
Resistance level: 0.7280, 0.7320
Support level: 0.7225, 0.7180
NZDUSD, H4: NZDUSD was traded lower following prior retracement from higher levels. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term.
Resistance level: 0.6830, 0.6870
Support level: 0.6780, 0.6740
USDCAD, H4: USDCAD was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the pair to be traded higher in short-term.
Resistance level: 1.2835, 1.2910
Support level: 1.2765, 1.2690
USDCHF, H4: USDCHF was traded lower following prior retracement from higher level. MACD which illustrate diminished bullish momentum suggests the pair to be traded lower in short-term.
Resistance level: 0.9190, 0.9210
Support level: 0.9165, 0.9130
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests its price to be traded higher in short-term.
Resistance level: 77.35, 80.15
Support level: 75.15, 72.90
GOLD_, H4: Gold price was traded higher following prior rebound from lower levels. However, MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term.
Resistance level: 1812.80, 1830.20
Support level: 1797.60, 1784.90