281221 Afternoon Session Analysis
28 December 2021 Afternoon Session Analysis
Yen slumped amid risk-on sentiment.
The Japanese Yen extend its losses amid risk-on sentiment in the global financial market following traders had shrugged off the Omicron fears, which dragging down the appeal for the safe-haven Japanese Yen. According to Reuters, authorities in UK and France have ruled out from imposing tough Covid-19 restrictions, claiming that high vaccination rates will reduce the hospitalization rate from being overwhelmed even as the Covid-19 cases surged significantly. Besides, the UK Health Security Agency claimed that its early findings are “encouraging”, the reports from South Africa, Denmark, England and Scotland had pointed that the Omicron variant are less severity compare to the earlier Delta variant. Nonetheless, market participants would still require significant data to determine the severity rate for the new Omicron variant, hence it would crucial for investors to continue to scrutinize the latest updates with regards of the Covid-19 development to gauge the likelihood movement for the Japanese Yen. As of writing, USD/JPY appreciated by 0.04% to 114.85.
In the commodities market, the crude oil price depreciated by 0.24% to $76.10 per barrel as of writing amid technical correction. Nonetheless, the overall momentum for the crude oil commodity remained bullish amid easing concerns of Omicron from the global investors. On the other hand, the gold price slumped 0.13% to $1809.85 per troy ounces as of writing amid rising risk appetite in the global financial market had stoked a shift in sentiment toward riskier asset.
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 while currently near the support level at 95.65. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.
Resistance level: 96.90, 97.50
Support level: 95.65, 94.90
GBPUSD, H4: GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3355. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3505.
Resistance level: 1.3505, 1.3630
Support level: 1.3355, 1.3195
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1345. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.1345, 1.1440
Support level: 1.1235, 1.1175
USDJPY, Daily: USDJPY was traded higher following prior breakout above the previous resistance level at 114.20. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 115.40.
Resistance level: 115.40, 116.80
Support level: 114.20, 112.80
AUDUSD, Daily: AUDUSD was traded higher following prior breakout above the resistance level at 0.7175. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7365.
Resistance level: 0.7365, 0.7535
Support level: 0.7175, 0.6995
NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6825. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.6825, 0.6920
Support level: 0.6710, 0.6570
USDCAD, H4: USDCAD was traded lower following prior breakout below the previous support level at 1.2840. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.2840, 1.2935
Support level: 1.2765, 1.2695
USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level at 0.9190. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9150.
Resistance level: 0.9260, 0.9315
Support level: 0.9150, 0.9105
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 75.70. However MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 75.70, 79.00
Support level: 72.65, 69.55
GOLD_, H4: Gold price was traded higher while currently testing the resistance level at 1811.50. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 1811.50, 1830.55
Support level: 1786.30, 1762.20
281221 Morning Session Analysis
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
271221 Afternoon Session Analysis
27 December 2021 Afternoon Session Analysis
Yen slumped amid inflation fears.
The Japanese Yen slumped following the Japan’s cabinet approved an annual budget of $940 billion that is a record for a tenth straight year, underscoring a priority of boosting the economic momentum in Japan region. Investors remained concerns that such significant government spending combined with the ultra-loose monetary policy would cause the Bank of Japan to release more money circulation into the economy, which leads to higher inflation rate in future. Public debt in Japan as for now is more than twice the size of its $5 trillion economy, the highest among industrialised countries. Nonetheless, the gains experienced by the Japanese Yen was limited over the backdrop of bullish economic data. According to Ministry of Economy, Trade and Industry, Japan Retail Sales notched up significantly from the previous reading of 0.9% to 1.9%, exceeding the market forecast at 1.7%. As of writing, USD/JPY appreciated by 0.01% to 114.42.
In the commodities market, the crude oil price depreciated by 0.53% to $73.65 per barrel as of writing. The crude oil price edged lower amid spiking numbers of Omicron variant around the world had continue to weigh down the appeal for this black-commodity. On the other hand, the gold price appreciated by 0.10% to $1810.65 per troy ounces as of writing amid prospect negative toward the Omicron variant had stoked a shift in sentiment toward safe-haven asset, spurring market demand on gold.
Today’s Holiday Market Close
Time Market Event
All Day US Christmas
All Day Germany Christmas
All Day Switzerland Christmas
All Day UK Christmas
All Day Australia 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 while currently near the support level at 95.65. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.
Resistance level: 96.90, 97.50
Support level: 95.65, 94.90
GBPUSD, H4: GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3355. MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.3505, 1.3630
Support level: 1.3355, 1.3195
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1345. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.1345, 1.1440
Support level: 1.1235, 1.1175
USDJPY, Daily: USDJPY was traded higher while currently testing the resistance level at 114.40. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 114.40, 115.40
Support level: 112.80, 112.05
AUDUSD, Daily: AUDUSD was traded higher following prior breakout above the resistance level at 0.7175. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7365.
Resistance level: 0.7365, 0.7535
Support level: 0.7175, 0.6995
NZDUSD, Daily: NZDUSD was traded higher while currently testing the resistance level at 0.6895. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.6895, 0.7150
Support level: 0.6690, 0.6510
USDCAD, H4: USDCAD was traded lower following prior breakout below the previous support level at 1.2840. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.2840, 1.2935
Support level: 1.2765, 1.2695
USDCHF, H4: USDCHF was traded lower while currently testing the support level at 0.9190. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.9260, 0.9315
Support level: 0.9190, 0.9150
CrudeOIL, H4: Crude oil price was traded lower while currently testing the support level at 73.10. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.
Resistance level: 75.10, 78.85
Support level: 73.10, 69.55
GOLD_, H4: Gold price was traded higher while currently testing the resistance level at 1811.50. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 1811.50, 1830.55
Support level: 1786.30, 1762.20
271221 Morning Session Analysis
27 December 2021 Morning Session Analysis
Market silenced during holiday season.
Financial market was rather quiet during last Friday as we enter into trading session ahead of Christmas and New Year’s holidays. Last week, US dollar continues to trade within a tight range as market participants waits for more economic data from the US. Earlier, investors shifted their focus from US dollar to other risky assets in the market following positive reports with regards to Omicron variant. Observations shows that Omicron variant has a lower hospitalization rate and lesser severity of symptoms when being compared to Delta variant. However, investors remain cautious as Omicron has a far higher infectability rate which may jeopardize the healthcare system if precautions were not being taken. For the time being, investors will place their attention upon upcoming jobless data from US in order to determine US dollar’s trend direction. As of writing, the dollar index was down 0.01% to 95.98.
In the commodities market, crude oil price was down 0.57% to $73.34 per barrel. Oil prices were opened lower on Monday following rising Omicron variant around the globe which may jeopardize demand for crude oil if lockdown were initiated. On the other hand, gold price was down 0.03% to $1,807.83 a troy ounce as market participants waits for more signals in the financial market.
Today’s Holiday Market Close
Time Market Event
All Day US Christmas
All Day Germany Christmas
All Day Switzerland Christmas
All Day UK Christmas
All Day Australia 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 higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the index to be traded higher 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: 1.3410, 1.3470
Support level: 1.3355, 1.3290
EURUSD, H4: EURUSD was traded lower following prior retrace from higher level. MACD which illustrate diminished bullish momentum suggests the pair to be traded lower in short-term.
Resistance level: 1.1320, 1.1370
Support level: 1.1285, 1.1250
USDJPY, H4: USDJPY was traded higher following breakout from 114.35. However, MACD which illustrate bearish signal suggests the pair to be traded lower in short-term.
Resistance level: 114.35, 114.90
Support level: 113.70, 113.15
AUDUSD, H4: AUDUSD was traded lower following retracement from higher level. MACD which illustrate diminished bullish 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 diminished upward momentum 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 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: 0.9190, 0.9210
Support level: 0.9165, 0.9130
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from lower levels. However, MACD which diminished bullish momentum suggests its price to be traded lower in short-term.
Resistance level: 75.65, 78.95
Support level: 73.00, 70.40
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: 1808.70, 1821.70
Support level: 1792.60, 1777.00
241221 Afternoon Session Analysis
24 December 2021 Afternoon Session Analysis
Pound surged amid risk-on mood.
The risky currency such as Pound Sterling surged significantly yesterday over the backdrop of risk-on sentiment in the global financial market following the Omicron variant concerns faded. According to Reuters, fresh data from Denmark, U.K. and South Africa had shown evidence that the new Omicron strain is less likely to cause serious illness. Meanwhile, AstraZeneca, Pfizer and Moderna trial results indicated that a booster jab of their Covid-19 vaccine largely restored the immune response to the virus. Besides, Pfizer and Merck Covid-19 pill received emergency use authorization from the U.S. Food and Drug Administration. Nonetheless, the overall movement and volume for the pair of GBP/USD would remain subdued amid many markets are closed or operating with reduced hours for the holidays. As of writing, GBP/USD appreciated by 0.04% to 1.3410.
In the commodities market, the crude oil price appreciated by 0.97% to $74.05 per barrel as of writing. The oil market surged over the backdrop of hopes upon the resolution of Covid-19 pandemic, spurring positive prospect toward the market demand toward this black-commodity. On the other hand, the gold price was traded flat at $1808.90 per troy ounces as of writing amid market participants waited for further catalyst from Federal Reserve before entering the safe-haven market.
Today’s Holiday Market Close
Time Market Event
All Day US Christmas
All Day Germany Christmas
All Day Switzerland Christmas
Early close UK Christmas
Early close Australia 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 while currently near the support level at 95.65. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.
Resistance level: 96.90, 97.50
Support level: 95.65, 94.90
GBPUSD, Daily: GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3355. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.3505.
Resistance level: 1.3505, 1.3630
Support level: 1.3355, 1.3195
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1345. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.1345, 1.1440
Support level: 1.1235, 1.1175
USDJPY, Daily: USDJPY was traded higher while currently testing the resistance level at 114.40. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 114.40, 115.40
Support level: 112.80, 112.05
AUDUSD, Daily: AUDUSD was traded higher following prior breakout above the resistance level at 0.7175. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7260.
Resistance level: 0.7260, 0.7365
Support level: 0.7175, 0.7090
NZDUSD, Daily: NZDUSD was traded higher following prior rebound from the support level at 0.6690. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6895.
Resistance level: 0.6895, 0.7150
Support level: 0.6690, 0.6405
USDCAD, H4: USDCAD was traded lower following prior breakout below the previous support level at 1.2840. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.2840, 1.2935
Support level: 1.2765, 1.2680
USDCHF, Daily: USDCHF was traded lower while currently testing the support level at 0.9170. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.9260, 0.9315
Support level: 0.9170, 0.9105
CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level at 72.65. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 75.10, 78.85
Support level: 72.65, 69.55
GOLD_, H4: Gold price was traded higher while currently testing the resistance level at 1811.50. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 1811.50, 1830.55
Support level: 1786.30, 1762.20
241221 Morning Session Analysis
24 December 2021 Morning Session Analysis
Quiet market as holidays approaches.
US dollar was unfazed during Asian trading session while market participants gears up for upcoming Christmas and New Years holiday. Previously, market participants shifted their focus from US dollar to other risky assets in the market following positive findings with regards to Omicron variant. According to AstraZeneca, three dosage of its vaccine is expected to provide some level of protection towards the Omicron variant. Likewise, a recent observation conducted by University of Edinburgh finds that Omicron infected individuals is 68% less likely to be hospitalized when being compared to Delta variant. While hospitalization rate is significantly lower, scientist believes that a higher infectability rate of Omicron variant may jeopardize the healthcare system if authorities did not take precaution measures. As of writing, dollar index was traded flat at around 95.98.
In the commodities market, crude oil price was up 0.03% to $73.68 per barrel. Oil futures receives higher demand over the backdrop of less severity and hospitalization rate of Omicron variant. On the other hand, gold price was down 0.01% to $1,809.10 a troy ounce while traders wait for more market signals.
Today’s Holiday Market Close
Time Market Event
All Day US Christmas
All Day Germany Christmas
All Day Switzerland Christmas
Early close UK Christmas
Early close Australia 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 higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the index to be traded higher 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: 1.3410, 1.3470
Support level: 1.3355, 1.3290
EURUSD, H4: EURUSD was traded lower following prior retrace from higher level. MACD which illustrate diminished bullish momentum suggests the pair to be traded lower in short-term.
Resistance level: 1.1370, 1.1440
Support level: 1.1320, 1.1285
USDJPY, H4: USDJPY was traded higher following breakout from 114.35. MACD which illustrate bullish signal suggests the pair to be traded higher 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 diminished bullish 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 diminished upward momentum 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 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: 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: 75.65, 78.95
Support level: 73.00, 70.40
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: 1808.70, 1821.70
Support level: 1792.60, 1777.00
231221 Afternoon Session Analysis
23 December 2021 Afternoon Session Analysis
Pound surged amid upbeat economic data.
The Pound Sterling surged over the backdrop of upbeat economic data yesterday. According to Office for National Statistics, U.K. Gross Domestic Product (GDP) came in at 6.8%, exceeding the market forecast at 6.6%. Such data had indicated that the U.K economy has recovered from the pandemic faster than market expectation, dialed up the market optimism toward the economic progression in United Kingdom. Nonetheless, the spiking numbers of the Covid-19 cases in the UK region had limited the gains experienced by the Pound Sterling. According to the Guardian, the Daily cases of Covid-19 have passed 100,000 as the Omicron variant sweeps across U.K., reaching the highest number recorded since the pandemic began. Confirmed cases of Omicron variant in England have risen by 13,106 to 69,147, the UK Health Security Agency said. Such sentiment would increase the odds for the UK government to reimpose the early lockdown restrictions, which spurring negative prospect for the economic momentum. As of writing, GBP/USD appreciated by 0.02% to 1.3350.
In the commodities market, the crude oil price surged 0.03% to $73.35 per barrel as of writing. The oil market edged higher following the fresh evidence had shown that the Omicron variant of Covid-19 is not as dangerous as the strains that have dominated the first two years of the pandemic. On the other hand, the gold price surged 0.11% to $1805.65 per troy ounces as of writing amid weakening US Dollar.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 21:30 | USD – Core Durable Goods Orders (MoM) (Nov) | 0.50% | 0.60% | – |
| 21:30 | USD – Initial Jobless Claims | 206K | 205K | – |
| 21:30 | CAD – GDP (MoM) (Oct) | 0.10% | 0.80% | – |
| 23:00 | USD – New Home Sales (Nov) | 745K | 770K | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower while currently near the support level at 95.65. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 95.65.
Resistance level: 96.90, 97.50
Support level: 95.65, 94.90
GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level at 1.3355. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1.3355, 1.3505
Support level: 1.3195, 1.3050
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1345. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1.1345, 1.1440
Support level: 1.1235, 1.1175
USDJPY, Daily: USDJPY was traded higher while currently testing the resistance level at 114.40. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 114.40, 115.40
Support level: 112.80, 112.05
AUDUSD, Daily: AUDUSD was traded higher following prior breakout above the resistance level at 0.7175. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7260.
Resistance level: 0.7260, 0.7365
Support level: 0.7175, 0.7090
NZDUSD, Daily: NZDUSD was traded higher following prior rebound from the support level at 0.6690. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6895.
Resistance level: 0.6895, 0.7150
Support level: 0.6690, 0.6405
USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2840. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2935, 1.3020
Support level: 1.2840, 1.2765
USDCHF, H4: USDCHF was traded lower while currently testing the support level at 0.9190. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.9260, 0.9315
Support level: 0.9190, 0.9150
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 73.10. MACD which illustrated bullish momentum suggest the commodity extend its gains after it successfully breakout above the resistance level.
Resistance level: 72.10, 75.10
Support level: 69.55, 66.50
GOLD_, H4: Gold price was traded higher following prior rebound from the support level at 1786.30. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1811.50.
Resistance level: 1811.50, 1830.55
Support level: 1786.30, 1762.20
231221 Morning Session Analysis
23 December 2021 Morning Session Analysis
Greenback down, led by risky asset demand.
Demand for risky assets rose sharply on yesterday, initiating a broad selloff upon US dollar following positive reports with regards to Omicron variant. According to new research, hospitalization rate among Omicron-infected individuals were 80% lower as compared to Delta variant. The research also pointed out that while Omicron has higher infectivity rate, its side effects that comes along is significantly milder. The hypothesis was made based on observation conducted among hospitalized patient which exert 30% lower severe symptoms and health complications when being compared to previous variants. However, losses on the US dollar were limited following bullish economic report from the US. For the month of December, CB Consumer Confidence notched up to 115.8, significantly higher than forecast of 110.8. The increase in consumer confidence came with higher expectation towards US economic progression in short to mid-term while the data also suggests higher consumer spending which may contribute to an up rise in inflation for the coming months. As of writing, the dollar index was up 0.01% to 96.03.
In the commodities market, crude oil price extended gains by 0.02% to $73.02 per barrel. Oil prices advanced further on yesterday following a draw in US inventory by -4.72 million barrels last week, significantly larger than forecasted reading of -2.75 million barrels. On the other hand, gold price depreciates by 0.04% to $1,804.44 a troy ounce over the backdrop of stronger greenback.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 21:30 | USD – Core Durable Goods Orders (MoM) (Nov) | 0.50% | 0.60% | – |
| 21:30 | USD – Initial Jobless Claims | 206K | 205K | – |
| 21:30 | CAD – GDP (MoM) (Oct) | 0.10% | 0.80% | – |
| 23:00 | USD – New Home Sales (Nov) | 745K | 770K | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the index to be traded higher 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: 1.3355, 1.3410
Support level: 1.3290, 1.3220
EURUSD, H4: EURUSD was traded lower following prior retrace from higher level. MACD which illustrate diminished bullish momentum suggests the pair to be traded lower in short-term.
Resistance level: 1.1370, 1.1440
Support level: 1.1320, 1.1285
USDJPY, H4: USDJPY was traded lower following prior retracement from higher levels. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.
Resistance level: 114.35, 114.90
Support level: 113.70, 113.15
AUDUSD, H4: AUDUSD was traded lower following retracement from higher level. MACD which illustrate diminished bullish signal suggests the pair to be traded lower short-term.
Resistance level: 0.7225, 0.7280
Support level: 0.7180, 0.7140
NZDUSD, H4: NZDUSD was traded lower following prior retracement from higher levels. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.
Resistance level: 0.6820, 0.6875
Support level: 0.6725, 0.6670
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: 1.2910, 1.2975
Support level: 1.2835, 1.2765
USDCHF, H4: USDCHF 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: 0.9210, 0.9230
Support level: 0.9190, 0.9165
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 after closing above 73.00.
Resistance level: 73.00, 75.65
Support level: 70.40, 69.30
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: 1808.35, 1821.43
Support level: 1792.15, 1777.00
221221 Afternoon Session Analysis
22 December 2021 Afternoon Session Analysis
The safe-haven Yen slumped amid hopes upon resolution of Covid-19 pandemic.
The safe-haven Japanese Yen slumped over the backdrop of risk-on sentiment in the global financial market following the upbeat news with regards of Covid-19 treatment pill, which prompting investor to shift their portfolio toward other risky asset such as Pound Sterling and Australian Dollar. According to the Guardian, US Federal regulators are expected to approve the first Covid-19 pills as early as this week. According to clinical trials data, both Pfizer and Merck offered 89% reduction in the risk of hospitalization for unvaccinated patients when the patients began treatment within three days of the first symptoms appearing. Merck’s lowered the risk by 30% for patients who began treatment within five days of symptoms appearing. Besides, the US government has ordered 10 million courses of the Pfizer pill and 3 million from Merck, according to Bloomberg. Nonetheless, the medicines are still not expected to immediately be widely available in short-term basis. As of writing, USD/JPY appreciated by 0.01% to 114.10.
In the commodities market, the crude oil price surged 0.15% to $71.75 per barrel as of writing. The oil market rebounded significantly amid the positive news with regards of the Covid-19 treatment pill, which dialed up the market optimism toward the prospect for the crude oil demand. On the other hand, the gold price depreciated by 0.04% to $1790.35 per troy ounces as of writing amid increasing risk appetite in the market, dragging down the appeal for safe-haven gold.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 15:00 | GBP – GDP (YoY) (Q3) | 6.60% | 6.60% | – |
| 21:30 | USD – GDP (QoQ) (Q3) | 2.10% | 2.10% | – |
| 23:00 | USD – CB Consumer Confidence (Dec) | 109.5 | 110.2 | – |
| 23:00 | USD – Existing Home Sales (Nov) | 6.34M | 6.50M | – |
| 23:30 | CrudeOIL – Crude Oil Inventories | -4.584M | -2.082M | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from lower levels. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.
Resistance level: 96.90, 97.50
Support level: 95.65, 94.90
GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level at 1.3195. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.3355.
Resistance level: 1.3355, 1.3505
Support level: 1.3195, 1.3050
EURUSD, H4: EURUSD was traded higher following prior rebound from the support level at 1.1235. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1345.
Resistance level: 1.1345, 1.1440
Support level: 1.1235, 1.1175
USDJPY, Daily: USDJPY was traded higher while currently testing the resistance level at 114.40. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 114.40, 115.40
Support level: 112.80, 112.05
AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level at 0.7090. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7175
Resistance level: 0.7175, 0.7260
Support level: 0.7090, 0.6995
NZDUSD, Weekly: NZDUSD was traded lower while currently testing the support level at 0.6895. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.6895, 0.7150
Support level: 0.6690, 0.6405
USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level at 1.2935. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2840.
Resistance level: 1.2935, 1.3020
Support level: 1.2840, 1.2765
USDCHF, H4: USDCHF was traded higher following prior rebound from the support level at 0.9200. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.2960.
Resistance level: 0.9260, 0.9315
Support level: 0.9200, 0.9155
CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level at 69.55. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 72.65.
Resistance level: 72.65, 75.10
Support level: 69.55, 66.50
GOLD_, H4: Gold price was traded lower while currently testing the support level at 1787.00. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.
Resistance level: 1811.50, 1830.55
Support level: 1787.00, 1762.20
221221 Morning Session Analysis
22 December 2021 Morning Session Analysis
Pound sterling rebounds as Brexit fear eases.
Pound sterling rebounds during late European trading session on yesterday after comments from UK officials eases market fear over Brexit complications. During an interview, Ireland Prime Minister Michael Martin commented that talks in between UK and EU are going smoothly. The comment was given after ex Brexit Minister David Frost resigned last weekend while being replaced by UK Foreign Secretary Liz Truss. Prior, investors were concerned over complications that may arise following Frost departure after conceding to recent by-election defeat, losing formerly safe seat of North Shropshire to Liberal Democrats. Nonetheless, any major upside upon pound sterling remains limited following rising coronavirus cases in the region. On yesterday, UK government reported 90,629 new coronavirus cases as Omicron variant spreads rapidly over the past few days. As of writing, pair of GBP/USD ticked up 0.01% to 1.3263.
In the commodities market, crude oil price appreciates by 0.10% to $71.27 per barrel. Oil futures extended its gains this morning after American Petroleum Institute reported a draw in their oil inventories by 3.7 million barrels last week. On the other hand, gold price was up 0.08% to $1,789.53 a troy ounce following weaker greenback.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 15:00 | GBP – GDP (YoY) (Q3) | 6.60% | 6.60% | – |
| 21:30 | US – GDP (QoQ) (Q3) | 2.10% | 2.10% | – |
| 23:00 | USD – CB Consumer Confidence (Dec) | 109.5 | 110.2 | – |
| 23:00 | USD – Existing Home Sales (Nov) | 6.34M | 6.50M | – |
| 23:30 | CrudeOIL – Crude Oil Inventories | -4.584M | -2.082M | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from higher levels. MACD which illustrate downward momentum suggests the index to be traded lower after a breakout occur at 96.35.
Resistance level: 96.60, 96.80
Support level: 96.35, 96.10
GBPUSD, H4: GBPUSD was traded higher following prior rebound from lower level. MACD which illustrate bullish signals suggests the pair to be traded higher in short-term.
Resistance level: 1.3290, 1.3355
Support level: 1.3220, 1.3150
EURUSD, H4: EURUSD was traded higher following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term after closing above 1.1285.
Resistance level: 1.1285, 1.1320
Support level: 1.1250, 1.1210
USDJPY, H4: USDJPY was traded lower following prior retracement from higher levels. MACD which illustrate bullish signal suggests the pair to be traded lower in short-term.
Resistance level: 114.35, 114.90
Support level: 113.70, 113.15
AUDUSD, H4: AUDUSD was traded higher following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to be traded higher short-term.
Resistance level: 0.7180, 0.7225
Support level: 0.7140, 0.7085
NZDUSD, H4: NZDUSD was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term.
Resistance level: 0.6820, 0.6875
Support level: 0.6735, 0.6670
USDCAD, H4: USDCAD was traded lower following prior retracement from higher levels. MACD which illustrate negative divergence suggests the pair to be traded lower after closing below 1.2910.
Resistance level: 1.2975, 1.3045
Support level: 1.2910, 1.2835
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: 0.9255, 0.9280
Support level: 0.9210, 0.9190
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 after breaking the downward trendline.
Resistance level: 73.00, 75.65
Support level: 70.40, 69.30
GOLD_, H4: Gold price was traded lower following prior retracement from higher levels. MACD which illustrate bearish momentum suggests its price to be traded lower in short-term.
Resistance level: 1792.15, 1808.35
Support level: 1777.00, 1765.95
211221 Afternoon Session Analysis
21 December 2021 Afternoon Session Analysis
Australia Dollar slumped amid Omicron fears.
The Australia Dollar extend its losses over the backdrop of risk-off sentiment in the global financial market amid resurgence of Omicron variant, which prompting investors to shift their portfolio toward other safe-haven currency. According to the US Disease Control and Prevention (CDC), the US had reported its first death linked to the Omicron variant in Texas. Besides, the World Health Organization (WHO) had stated that the Omicron variant is spreading much faster than the Delta variant and is causing infections in people already vaccinated or who have recovered from the Covid-19 disease. Nonetheless, the losses experienced by the Australia Dollar was limited following the Reserve Bank of Australia’s (RBA) unleashed their hawkish tone toward the economic progression in Australia. According to the latest RBA meeting minutes, the Australia’s central bank remained optimism that the spread of Omicron variant will not derail the ongoing economic recovery, while claiming that they might end the quantitative easing earlier than expected. As of writing, AUD/USD slumped 0.01% to 0.7108.
In the commodities market, the crude oil price surged 0.23% to $69.70 per barrel as of writing amid technical correction. Nonetheless, the overall trend for the crude oil commodity remained bearish amid spiking numbers of Omicron variant around the world had weighed down the appeal for this black-commodity. On the other hand, the gold price slumped 0.04% to $1790.20 per troy ounces as of writing as market participants speculated the higher odds for Federal Reserve to increase its interest rates in short-term basis.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 17:30 | CAD – Core Retail Sales (MoM) (Oct) | -0.2% | 1.6% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the index to be traded higher after a breakout occur at 96.90.
Resistance level: 96.90, 97.50
Support level: 95.65, 94.90
GBPUSD, H4: GBPUSD was traded lower while currently testing the support level at 1.3195. MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.3355, 1.3505
Support level: 1.3195, 1.3050
EURUSD, H4: EURUSD was traded higher following prior rebound from the support level at 1.1235. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1345.
Resistance level: 1.1345, 1.1440
Support level: 1.1235, 1.1175
USDJPY, H4: USDJPY was traded higher following prior rebound from the support level at 112.80. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 114.40.
Resistance level: 114.40, 115.40
Support level: 112.80, 112.05
AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.7090. MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.7175, 0.7260
Support level: 0.7090, 0.6995
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.6705. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.6895, 0.7150
Support level: 0.6705, 0.6405
USDCAD, H4: USDCAD was traded higher while currently testing the resistance level at 1.29335. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.2935, 1.3020
Support level: 1.2840, 1.2765
USDCHF, H4: USDCHF was traded lower while currently testing the support level at 0.9200. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.9260, 0.9315
Support level: 0.9200, 0.9155
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 69.55. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 69.55, 72.65
Support level: 66.50, 62.55
GOLD_, H4: Gold price was traded lower while currently testing the support level at 1790.20. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.
Resistance level: 1811.50, 1830.55
Support level: 1790.20, 1762.20
2111221 Morning Session Analysis
21 December 2021 Morning Session Analysis
Sentiment towards US dollar remains positive.
US dollar recuperated its losses on yesterday as market sentiment towards the currency remains positive. Last week, Federal Reserve officials has agreed to reduce its bond purchasing program and ending it earlier next March due to rising inflation in the United States. Likewise, dot plot suggests that Fed officials are currently expecting 3 interest rates hikes next year, significantly more bullish when compared to market’s speculation. On yesterday, Fed official Chris Waller signaled that interest rate hike may be initiated during March’s policy meeting if inflation continues to rises for the coming months. On the other hand, pound sterling was traded lower on yesterday following widespread of Omicron variant in the UK. Last weekend, UK officials has reported more than 12,000 Omicron cases while total coronavirus cases have risen more than 50% within the period of 7 days. As of writing, the dollar index was down 0.03% to 96.46 while GBP/USD was up 0.02% to 1.3210.
In the commodities market, crude oil price rose 0.26% to $69.11 per barrel. Oil futures received strong buyback after Libya shutdown its oil rigs in several areas prior to election in order to avoid any equipment damages due to riots. Otherwise, gold price rose 0.14% to $1,791.16 a troy ounce following weaker greenback.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 17:30 | CAD – Core Retail Sales (MoM) (Oct) | -0.2% | 1.6% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the index to be traded higher in short-term.
Resistance level: 96.60, 96.80
Support level: 96.35, 96.10
GBPUSD, H4: GBPUSD was traded lower following prior retracement from higher level. However, MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.
Resistance level: 1.3220, 1.3290
Support level: 1.3150, 1.3070
EURUSD, H1: EURUSD was traded lower following prior retracement from higher levels. MACD which begin to form bearish signal suggests the pair to be traded lower in short-term.
Resistance level: 1.1285, 1.1320
Support level: 1.1250, 1.1210
USDJPY, H4: USDJPY was traded higher following prior rebound from lower levels. MACD which begins to form bullish signal suggests the pair to be traded higher in short-term after closing above 113.70.
Resistance level: 113.70, 114.35
Support level: 113.15, 112.60
AUDUSD, H4: AUDUSD 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: 0.7140, 0.7180
Support level: 0.7085, 0.7040
NZDUSD, Daily: NZDUSD was traded lower following prior retracement from higher levels. MACD which illustrate diminished bearish signal suggests the pair to be traded lower in mid-term.
Resistance level: 0.6725, 0.6820
Support level: 0.6670, 0.6615
USDCAD, H4: USDCAD was traded higher following prior rebound from lower levels. However, MACD which illustrate diminished bullish signal suggests the pair to be traded lower in short-term.
Resistance level: 1.2975, 1.3045
Support level: 1.2910, 1.2835
USDCHF, H4: USDCHF was traded higher following prior rebound from lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.
Resistance level: 0.9230, 0.9255
Support level: 0.9210, 0.9190
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from lower levels. MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term.
Resistance level: 69.30, 70.40
Support level: 67.10, 65.50
GOLD_, H4: Gold price was traded lower following prior retracement from higher levels. MACD which illustrate bearish signal suggests its price to be traded lower in short-term.
Resistance level: 1792.15, 1808.35
Support level: 1776.95, 1765.95
201221 Afternoon Session Analysis
20 December 2021 Afternoon Session Analysis
Safe-haven Yen surged amid rising Covid-19 fears.
The safe-haven Japanese Yen received significant bullish momentum, which buoyed by the rising fears upon the Covid-19 Omicron variant. According to CNBC, nations across Europe have been tightening Covid-19 restrictions in order to combat the spread of Omicron variant around the world. The Netherlands became the first European country to announce a full lockdown to fight the variant. The re-implementation of highly stringent lock-down would continue to spur negative prospect for the global economy, which stoked a shift in sentiment toward safe-haven asset such as Japanese Yen. Besides, Japanese Yen received further bullish momentum following the Bank of Japan announced plans to scale back its emergency economic support programmed, tapering its bond purchasing program to pre-pandemic levels in response to surging inflation. Nonetheless, the Bank of Japan decided to maintain its current monetary levers in place, setting overnight interest rates at -0.1%. As of writing, USD/JPY depreciated by 0.10% to 113.55.
In the commodities market, the crude oil price slumped 1.70% to $69.35 per barrel as of writing. The oil market edged lower amid rising Omicron variant around the world had continue to weigh down the appeal for the demand of this black-commodity. On the other hand, the gold price appreciated by 0.20% to 1801.50 per troy ounces as of writing amid risk-off sentiment in the global financial market.
Today’s Holiday Market Close
Time Market Event
N/A
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 higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the index to be traded higher after a breakout occur at 96.90.
Resistance level: 96.90, 97.50
Support level: 95.65, 94.90
GBPUSD, H4: GBPUSD was traded lower following prior retracement from higher level. MACD which illustrate bearish signals suggests the pair to be traded lower after closing below 1.3195.
Resistance level: 1.3355, 1.3505
Support level: 1.3195, 1.3050
EURUSD, H4: EURUSD was traded lower while currently near the support level at 1.1175. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.1370, 1.1530
Support level: 1.1175, 1.1010
USDJPY, H4: USDJPY 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: 114.40, 115.40
Support level: 112.80, 112.05
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: 0.7175, 0.7365
Support level: 0.6995, 0.6825
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.6720. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.6815, 0.6890
Support level: 0.6720, 0.6640
USDCAD, H4: USDCAD was traded higher following prior rebound from lower levels. MACD which illustrate bullish signals suggests the pair to be traded higher in short-term.
Resistance level: 1.2895, 1.3020
Support level: 1.2720, 1.2595
USDCHF, H4: USDCHF was traded higher following prior rebound from the support level at 0.9200. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9260.
Resistance level: 0.9260, 0.9315
Support level: 0.9200, 0.9155
CrudeOIL, H4: Crude oil price was traded lower following prior retracement from higher levels. MACD which illustrate bearish signal suggests its price to be traded lower in short-term after closing below 68.40.
Resistance level: 70.35, 72.65
Support level: 68.40, 65.70
GOLD_, H4: Gold price was traded lower following prior retracement from higher levels. MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term.
Resistance level: 1811.50, 1830.55
Support level: 1790.20, 1762.20
201220 Morning Session Analysis
20 December 2021 Morning Session Analysis
Fed member suggests earlier interest rate hike.
US dollar rebounds sharply last Friday as market participants reacts to hawkish signal from one of Federal Reserve members. According to Fed Official Christopher Waller, he expects inflationary pressure to rise further next year over the backdrop of temporary factors in the market such as supply chain issues and raw material shortage. Waller emphasized that Fed’s monetary policy meeting in March will be the key turning point as they might discuss possibility of initiating an interest rate hike. He reiterates that a faster than expected interest rate hike still dependent on future data while such moves will rely on economic resilient despite Omicron risks in the US. Following his remarks, investors speculate that an interest rate hike may occur as early as March 2022 after Fed’s bond purchasing program ends during that month. According to Fed Rate Monitor Tool, investors are currently pricing in with 56% and 85% of interest rate hike possibility during March and June 2022 respectively. As of writing, the dollar index was up 0.02% to 96.59.
In the commodities market, crude oil price slumped by 1.53% to $69.25 per barrel. Bears continues to take over oil futures as Omicron spreads rapidly across the globe, dialing down market expectation for a recovery in demand next year. On the other hand, gold price was down by 0.02% to $1,800.91 a troy ounce due to stronger greenback.
Today’s Holiday Market Close
Time Market Event
N/A
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 higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the index to be traded higher after a breakout occur at 96.60.
Resistance level: 96.60, 96.80
Support level: 96.35, 96.10
GBPUSD, H4: GBPUSD was traded lower following prior retracement from higher level. MACD which illustrate bearish signals suggests the pair to be traded lower after closing below 1.3220.
Resistance level: 1.3290, 1.3355
Support level: 1.3220, 1.3150
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: 1.1250, 1.1285
Support level: 1.1210, 1.1160
USDJPY, H4: USDJPY 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: 113.70, 114.35
Support level: 113.15, 112.60
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: 0.7140, 0.7180
Support level: 0.7085, 0.7040
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 after closing below 0.6725.
Resistance level: 0.6820, 0.6875
Support level: 0.6725, 0.6670
USDCAD, H4: USDCAD was traded higher following prior rebound from lower levels. MACD which illustrate bullish signals suggests the pair to be traded higher in short-term.
Resistance level: 1.2910, 1.2975
Support level: 1.2835, 1.2765
USDCHF, H4: USDCHF was traded lower following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term.
Resistance level: 0.9255, 0.9280
Support level: 0.9230, 0.9210
CrudeOIL, H4: Crude oil price was traded lower following prior retracement from higher levels. MACD which illustrate bearish signal suggests its price to be traded lower in short-term after closing below 69.30.
Resistance level: 70.40, 73.00
Support level: 69.30, 67.10
GOLD_, H4: Gold price was traded lower following prior retracement from higher levels. MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term.
Resistance level: 1807.15, 1819.85
Support level: 1791.40, 1776.95
171221 Afternoon Session Analysis
17 December 2021 Afternoon Session Analysis
Euro rose following ECB rate decision.
The Euro which traded against the dollar and other currency pairs have rose after ECB anoounced its policy decision recently. The ECB have continue to maintain its monetary policy settings unchanged as widely expected with the interest rate at 0.00%. However, in the accompanying statement, the European Central Bank announced that it would end its 1.85 trillion euro emergency bond purchase program in March 2022. The members of the European Central Bank believe that the EU economy has continued to recover and is expected to move towards the medium-term goal next year. However, the central bank stated that the bond purchase program (APP) will serve as a transition and will continue to purchase a total of 20 billion euros per month. They stated that they need to continue to implement adequate easing policies to control the inflation level. The lack of fresh dovish signals from the ECB have help lifted the market sentiment. At the time of writing, EUR/USD rose 0.05% to 1.1322.
In the commodities market, crude oil price retreat 0.11% to $71.65 a troy ounce as of writing amid rising global Omicron cases. In Denmark, South Africa and the United Kingdom, the number of new Omicron cases has been doubling every two days. Denmark’s Prime Minister Mette Frederiksen on Thursday warned the government may impose further curbs to limit the spread of Omicron. On the other hand, gold price surge 0.20% to $1803.01 a troy ounce at the time of writing following dollar strength.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 15:00 | GBP – Retail Sales (MoM) (Nov) | 0.8% | 0.8% | – |
| 17:00 | EUR – German Ifo Business Climate Index (Dec) | 96.5 | 95.3 | – |
| 18:00 | EUR – CPI (YoY) (Nov) | 4.9% | 4.8% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower while currently testing near the support level 95.65. MACD which illustrate bearish momentum signal suggest the dollar to extend its losses after it breaks below the support level.
Resistance level: 96.35, 96.85
Support level: 95.65, 95.00
GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level 1.3325. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 1.3325.
Resistance level: 1.3325, 1.3430
Support level: 1.3190, 1.3055
EURUSD, H4: EURUSD remain traded in a sideway channel while currently testing near the resistance level 1.1355. However, MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 1.1355, 1.1455
Support level: 1.1260, 1.1170
USDJPY, H4: USDJPY was traded lower following prior breakout below the previous support level 113.80. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its losses towards the support level 112.75.
Resistance level: 113.80, 114.60
Support level: 112.75, 112.00
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level 0.7175. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses towards the support level 0.7095.
Resistance level: 0.7175, 0.7260
Support level: 0.7095, 0.7005
NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level 0.6815. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.6725.
Resistance level: 0.6815, 0.6905
Support level: 0.6725, 0.6830
USDCAD, H4: USDCAD was traded higher following prior rebound from its low level. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.2835.
Resistance level: 1.2835, 1.2955
Support level: 1.2735, 1.2615
USDCHF, H4: USDCHF remain traded in a sideway channel while currently testing near the support level 0.9170. However, MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 0.9250, 0.9320
Support level: 0.9170, 0.9105
CrudeOIL, H4: Crude oil price was traded higher while currently testing near the resistance level 72.70. MACD which illustrate bullish bias signal suggest the commodity to extend its gains after it breaks above the resistance level 72.70.
Resistance level: 72.70, 75.25
Support level: 68.90, 65.25
GOLD_, H4: Gold price was traded higher while currently testing near the resistance level 1806.80. MACD which illustrate bullish bias signal suggest the commodity to extend its gains after it breaks above the resistance level.
Resistance level: 1806.80, 1831.50
Support level: 1787.75, 1763.05