220921 Afternoon Session Analysis
22 September 2021 Afternoon Session Analysis
Swiss Franc rose following upbeat economic data.
The Swiss Franc which traded against the dollar and other currency pairs have rose following the release of upbeat trade data from Switzerland. According to the Federal Statistical Office, Switzerland Trade Balance came in with the reading of 5.055B, higher than the forecasted reading of 4.5B. The better-than-expected data has provided a positive tone towards the economic growth of the region. Besides that, the potential default risk of China Evergrande has spurred investors’ concerns over spillover effect into the global economy, which has reiterated the appeal of Swiss Franc as safe haven. China Evergrande which is currently in debt of $310 billion is expected to make a series of interest payments starting on Thursday and credit rating agencies stated that a default is “likely”. On the other hand, the Swiss Franc also receive further support from higher inflow of currencies. According to analysts, the recent foreign investment flows into Swiss stocks, particularly into Swiss heavyweights such as Nestle and Roche, have resulted in an uptick on Swiss Balance of Payments figures. As of writing, the pair of USD/CHF was down 0.11% to 0.9239.
In the commodities market, the crude oil price surged 0.2% to $71.11 per barrel as of writing following concerns over tight supply. Supply is expected to remain tight after Royal Dutch Shell, the largest U.S. Gulf of Mexico producer, stated that damage to its offshore transfer facilities would cut production into early next year. Moreover, API also reported a better-than-expected crude oil inventories which further confirms tightening crude oil supply. On the other hand, gold price rebound 0.16% to $1777.45 a troy ounce at the time of writing amid dollar retreat.
Pasaran Tutup Hari Ini
Masa Pasaran Acara
N/A
Acara Kemuncak Hari Ini
Masa Pasaran Acara
02:00 USD FOMC Economic Projections
(23hb)
02:00 USD FOMC Statement
(23hb)
02:30 USD FOMC Press Conference
(23hb)
Data Ekonomi Kemuncak Hari Ini
| Masa | Pasaran & Acara | Terdahulu | Ramalan | Sebenar |
| 22:00 | USD – Existing Home Sales (Aug) | 5.99M | 5.88M | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -6.422M | – | – |
| 02:00
(23hb) |
USD – Fed Interest Rate Decision | 0.25% | 0.25% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level 91.10. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its gains towards the resistance level 91.70.
Resistance level: 93.70, 94.20
Support level: 93.10, 92.70
GBPUSD, H4: GBPUSD was traded lower while currently testing near the support level 1.3605. However, MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to be traded higher towards the resistance level 1.3765.
Resistance level: 1.3765, 1.3875
Support level: 1.3605, 1.3460
EURUSD, H4: EURUSD was traded lower while currently testing near the support level 1.1705. However, MACD which illustrate bullish momentum signal suggest the pair to be traded higher towards the resistance level 1.1800.
Resistance level: 1.1800, 1.1885
Support level: 1.1705, 1.1625
USDJPY, H4: USDJPY was traded higher while currently testing near the resistance level 109.60. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 109.60.
Resistance level: 109.60, 110.20
Support level: 109.15, 108.65
AUDUSD, H4: AUDUSD was traded lower while currently testing the support level 0.7235. However, MACD which illustrate bullish momentum signal suggest the pair to experience a technical correction towards the resistance level 0.7335.
Resistance level: 0.7335, 0.7415
Support level: 0.7250, 0.7150
NZDUSD, H4: NZDUSD was traded lower while currently testing near the support level 0.6990. However, MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to be traded higher towards the resistance level 0.7075.
Resistance level: 0.7075, 0.7145
Support level: 0.6990, 0.6920
USDCAD, H4: USDCAD was traded lower while currently testing near the support level 1.2770. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 1.2870, 1.2955
Support level: 1.2770, 1.2685
USDCHF, H4: USDCHF was traded higher following prior rebound from the support level 0.9240. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 0.9310.
Resistance level: 0.9310, 0.9375
Support level: 0.9245, 0.9200
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the support level 70.45. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its rebound towards the resistance level 72.45.
Resistance level: 72.45, 74.30
Support level: 70.45, 68.05
GOLD, H4: Gold price was traded higher while currently testing near the resistance level 1785.80. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower towards the support level 1753.05.
Resistance level: 1785.80, 1806.85
Support level: 1753.05, 1725.50
220921 Morning Session Analysis
22 September 2021 Morning Session Analysis
Dollar surged amid bullish economic data.
The Dollar Index which traded against a basket of six major currency pairs surged over the backdrop of bullish economic data from United States region yesterday, dialed up the market optimism toward the economic progression in the United States. According to Census Bureau, U.S. Building Permits notched up from the previous reading of 1.630M to 1.728M, exceeding the market forecast at 1.600M. Besides, US Dollar received further bullish momentum following the diminishing risk appetite in the FX market amid the debt crisis at China’s biggest property developer, Evergrande, which prompting investors to shift their portfolio from other risky asset into the safe-haven asset such as US Dollar. In addition, the overall trend for the US Dollar remained bullish this week, which also bolstered by the hawkish expectation from the Federal Reserve during the FOMC meeting this week. As of writing, the Dollar Index appreciated by 0.06% to 93.25.
In the commodities market, the crude oil price appreciated by 0.03% to $71.11 per barrel as of writing amid bullish inventory data which released in the early morning. According to American Petroleum Institute (API), U.S API Weekly Crude Oil Stock came in at -6.108M, better than the market forecast at 2.400M. Besides, the gold price slumped 0.10% to $1773.05 per troy ounces as of writing amid strengthening US Dollar.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
02:00 USD FOMC Economic Projections
(23rd)
02:00 USD FOMC Statement
(23rd)
02:30 USD FOMC Press Conference
(23rd)
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 22:00 | USD – Existing Home Sales (Aug) | 5.99M | 5.88M | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -6.422M | – | – |
| 02:00
(23rd) |
USD – Fed Interest Rate Decision | 0.25% | 0.25% | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher following prior breakout above the previous resistance level at 92.65. However, MACD which illustrated increasing bearish momentum suggest the index to be traded lower in short-term as technical correction.
Resistance level: 93.25, 94.10
Support level: 92.65, 91.80
GBPUSD, H4: GBPUSD was traded lower prior breakout below the previous support level at 1.3695. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.3695, 1.3755
Support level: 1.3605, 1.3515
EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1705. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.1760, 1.1800
Support level: 1.1705, 1.1665
USDJPY, H4: USDJPY was traded higher while currently testing the resistance level at 109.60. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 109.60, 110.40
Support level: 109.20, 108.45
AUDUSD, H4: AUDUSD was traded higher while currently near the resistance level at 0.7280. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.7280, 0.7345
Support level: 0.7220, 0.7115
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.7015. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.7080, 0.7160
Support level: 0.7015, 0.6940
USDCAD, H4: USDCAD was traded lower while currently near the support level at 1.2780. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2850, 1.2905
Support level: 1.2780, 1.2725
USDCHF, H4: USDCHF was traded lower while currently testing the support level at 0.9230. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.9305, 0.9375
Support level: 0.9330, 0.9100
CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 72.30. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 72.30, 73.75
Support level: 70.40, 67.75
GOLD_, H4: Gold price was traded higher while currently testing the resistance level at 1778.55. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1778.55, 1796.55
Support level: 1765.95, 1749.35
Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.
210921 Afternoon Session Analysis
21 September 2021 Afternoon Session Analysis
New Zealand Kiwi slips following RBNZ dovish stance.
The New Zealand dollar which traded against the greenback and other currency pairs have fell over the backdrop of dovish note from the Reserve Bank of New Zealand (RBNZ). According to RBNZ Assistant Governor Christian Hawkesby, the central bank globally tends to follow a smoothed path and keep their policy rate unchanged due to uncertainty and risk. He conveyed the decision of Reserve Bank of New Zealand (RBNZ) to delay its rate hike in order to deliver stimulus to support the economic recovery. On top of that, ongoing fear towards China Evergrande woes also weigh heavily on the pair. The widespread speculation that Evergrande is on the verge of bankruptcy has diminishing the risk-on sentiment while prompting investors to shift their portfolio into US dollar as safe haven. The pair also extended its loss amid rising market speculation over Fed’s tapering announcement during its upcoming monetary policy meeting. The highly anticipated tapering monetary policy in US is expected to lower the money supply in circulation hence reiterated the appeal of US dollar. As of writing, the pair of NZD/USD slumped 0.11% to 0.7016.
In the commodities market, the crude oil price surged 0.2% to $70.79 per barrel as of writing amid the positive demand outlook. The oil price extended its gains following rising market optimism toward the vaccination campaign and easing lockdown restriction around the globe. On the other hand, the gold price was up 0.15% to $1758.50 per troy ounces as of writing amid risk-off market sentiment.
Today’s Holiday Market Close
Time Market Event
All Day CNY Mid-Autumn Festival
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | USD – Building Permits (Aug) | 1.600M | 1.630M | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower while currently testing the support level 93.10. MACD which illustrate diminishing bullish momentum signal suggest the dollar to extend its losses after it breaks below the support level.
Resistance level: 93.70, 94.20
Support level: 93.10, 92.70
GBPUSD, H4: GBPUSD was traded lower while currently testing near the support level 1.3605. However, MACD which illustrate diminishing bearish momentum signals suggest the pair to experience a technical correction towards the resistance level 1.3765.
Resistance level: 1.3765, 1.3875
Support level: 1.3605, 1.3460
EURUSD, H4: EURUSD was traded higher following prior rebound from the support level 1.1705. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.1800.
Resistance level: 1.1800, 1.1885
Support level: 1.1705, 1.1625
USDJPY, H4: USDJPY was traded higher while currently testing the resistance level 109.60. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 109.60, 110.20
Support level: 109.15, 108.65
AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level 0.7250. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7335.
Resistance level: 0.7335, 0.7415
Support level: 0.7250, 0.7150
NZDUSD, H4: NZDUSD was traded lower while currently testing near the support level 0.6990. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience a technical correction towards the resistance level 0.7075.
Resistance level: 0.7075, 0.7145
Support level: 0.6990, 0.6920
USDCAD, H4: USDCAD was traded lower while currently testing the support level 1.2770. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 1.2870, 1.2955
Support level: 1.2770, 1.2685
USDCHF, H4: USDCHF was traded lower following recent retracement from the resistance level 0.9310. MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to extend its losses towards the support level 0.9245.
Resistance level: 0.9310, 0.9375
Support level: 0.9245, 0.9200
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the support level 70.45. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its rebound towards the resistance level 72.45.
Resistance level: 72.45, 74.30
Support level: 70.45, 68.05
GOLD, H4: Gold price was traded higher following prior rebound from the support level 1753.50. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 1785.80.
Resistance level: 1785.80, 1806.85
Support level: 1753.05, 1725.50
210921 Morning Session Analysis
21 September 2021 Morning Session Analysis
Japanese Yen surged amid risk-off mood.
The safe-haven Japanese Yen received significant bullish momentum yesterday following troubles at property group China Evergrande had spurred concerns over the spillover effect into the global economy, which stoked a shift in sentiment from the riskier asset into other safe-haven asset such as Japanese Yen and Swiss Franc. According to Reuters, China Evergrande Group, the second largest property company in China has more than $300 billion in liabilities, and reports suggest the company unable to repay its interest payment deadline on its offshore bonds due Thursday. Failure of debt repayments could force the company into bankruptcy, sparking a wider liquidity crisis in real estate sector. Besides, market participants speculated the Federal Reserve might be unleashing their hawkish tone during the FOMC meeting this week. Higher interest rate expectation tends to negatively affect earnings and the company intrinsic value, which weighing down the global stock market while increase the appeal of the safe-haven Japanese Yen. As of writing, USD/JPY depreciated by 0.05% to 109.55.
In the commodities market, the crude oil price surged 0.42% to $70.90 per barrel as of writing. The oil market edged higher amid investors remained optimism toward the Covid-19 vaccination program around the world. On the other hand, the gold price appreciated by 0.05% to $1763.50 per troy ounces as of writing amid risk-off sentiment in the market, increasing the appeal for the safe-haven gold.
Today’s Holiday Market Close
Time Market Event
All Day CNY Mid-Autumn Festival
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | USD – Building Permits (Aug) | 1.600M | 1.630M | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher following prior breakout above the previous resistance level at 92.65. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.
Resistance level: 93.25, 94.10
Support level: 92.65, 91.80
GBPUSD, H4: GBPUSD was traded lower prior breakout below the previous support level at 1.3695. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.3695, 1.3755
Support level: 1.3605, 1.3515
EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1705. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.1760, 1.1800
Support level: 1.1705, 1.1665
USDJPY, H4: USDJPY was traded higher while currently testing the resistance level at 109.60. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 109.60, 110.40
Support level: 109.20, 108.45
AUDUSD, H4: AUDUSD was traded higher while currently near the resistance level at 0.7280. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.7280, 0.7345
Support level: 0.7220, 0.7115
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.7015. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.7080, 0.7160
Support level: 0.7015, 0.6940
USDCAD, H4: USDCAD was traded lower while currently near the support level at 1.2780. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2850, 1.2905
Support level: 1.2780, 1.2725
USDCHF, Daily: USDCHF was traded lower following prior retracement from the resistance level at 0.9305. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9330.
Resistance level: 0.9305, 0.9375
Support level: 0.9330, 0.9100
CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 72.30. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 72.30, 73.75
Support level: 70.40, 67.75
GOLD_, H4: Gold price was traded higher while currently testing the resistance level at 1763.70. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1763.70, 1778.55
Support level: 1749.35, 1737.05
Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.
200921 Afternoon Session Analysis
20 September 2021 Afternoon Session Analysis
Australian dollar depreciated following negative economic outlook.
The Australian dollar which traded against the dollar and other currency pairs have fell following China Evergrande woes dampened market sentiment. Recently, incapability of the largest property developer China Evergrande to repay its debt has led to widespread of speculation that it is on the verge of bankruptcy. The risk of collapse of the China property market may result in significant reduction in China’s demand of raw material from Australia, thus reducing Australia’s economic income. Moreover, Australia real estate market was dampened due to the liquidation of Australian property assets by China investors in order to cover bad debts. This will lead to contraction of economic activities in Australia. On top of that, the pair also suffered further losses following rising market speculation over Fed’s tapering announcement during its upcoming monetary policy meeting. As of writing, the pair of AUD/USD slumped 0.72% to 0.7227.
In the commodities market, the crude oil price slumped 0.20% to $71.15 per barrel as of writing amid the recovery of oil production. The oil refiners are set to restart their production as they recover from the strike of Hurricane Ida. On the other hand, the gold price was down 0.47% to $1748.21 a troy ounce as of writing amid strengthening US dollar.
Today’s Holiday Market Close
Time Market Event
All Day JPY Public Holiday
All Day CNY Public Holiday
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 breakout above the previous resistance level 93.10. MACD which illustrate persistent bullish momentum signal suggest the dollar to extend its gains towards the resistance level 93.70.
Resistance level: 93.70, 94.20
Support level: 93.10, 92.70
GBPUSD, H4: GBPUSD was traded lower following prior breakout below the previous support level 1.3765. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 1.3605.
Resistance level: 1.3765, 1.3875
Support level: 1.3605, 1.3460
EURUSD, H4: EURUSD was traded lower while currently testing the support level 1.1705. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 1.1800, 1.1885
Support level: 1.1705, 1.1625
USDJPY, H4: USDJPY remain traded in a sideway channel. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower in short term towards the support level.
Resistance level: 110.20, 110.75
Support level: 109.60, 109.15
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level 0.7250. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 0.7150.
Resistance level: 0.7250, 0.7335
Support level: 0.7150, 0.7075
NZDUSD, H4: NZDUSD was traded lower while currently testing near the support level 0.6990. However, MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 0.7075, 0.7145
Support level: 0.6990, 0.6920
USDCAD, H4: USDCAD was traded higher following prior breakout above the previous resistance level 1.2770. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains towards the resistance level 1.2870.
Resistance level: 1.2870, 1.2955
Support level: 1.2770, 1.2685
USDCHF, H4: USDCHF was traded higher following recent breakout above the previous resistance level 0.9310. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the level 0.9310.
Resistance level: 0.9375, 0.9430
Support level: 0.9310, 0.9245
CrudeOIL, H4: Crude oil price was traded lower while currently testing near the support level 70.45. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.
Resistance level: 72.45, 74.30
Support level: 70.45, 68.05
GOLD, H4: Gold price was traded lower following prior breakout below the previous support level 1754.40. MACD which illustrate ongoing bearish momentum signal suggest the commodity to extend its losses towards the support level 1725.50
Resistance level: 1806.85, 1831.20
Support level: 1785.80, 1760.35
200921 Morning Session Analysis
20 September 2021 Morning Session Analysis
Pound slumped amid bearish data.
Pound Sterling slumped significantly on last Friday over the backdrop of bearish economic data from the United Kingdom region. The U.K. Retail Sales unexpectedly fell again last month in what is now a record streak of monthly declines, which dialed down the market optimism toward the economic progression in the United Kingdom. According to Office for National Statistics, U.K. Retail Sales for last month came in at -0.9%, missing the market forecast at 0.5%. Many retailers have been struggling to keep their items fully stocked due to supply chain bottlenecks, caused by a mix of global shortages. Such negative economic data would be spurring hopes for the Bank of England to maintain their expansionary monetary policy plan in longer-term basis in order to boost up the economic momentum. Though, most economist do not expect the BoE to begin to tighten until late next year, financial markets put the probability of a first rate rise in February at nearly 60%, according to Reuters. As of writing, investors would continue to scrutinize further economic data to receive further trading signal. As of writing, GBP/USD slumped 0.13% to 1.3725.
In the commodities market, the crude price appreciated by 0.05% to $71.75 per barrel as of writing. The crude oil price maintained its bullish trend, supported by favorable demand outlooks following the rapid Covid-19 vaccination program around the world. On the other hand, the gold price slumped 0.13% to $1752.60 per troy ounces as of writing amid market participants speculated the Federal Reserve might provide some hawkish stance during the FOMC meeting this week.
Today’s Holiday Market Close
Time Market Event
All Day JPY Public Holiday
All Day CNY Public Holiday
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
N/A
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher following prior breakout above the previous resistance level at 92.65. MACD which illustrated increasing bullish momentum suggest the index to extend its gains toward resistance level at 93.25.
Resistance level: 93.25, 94.10
Support level: 92.65, 91.80
GBPUSD, H4: GBPUSD was traded lower prior breakout below the previous support level at 1.3735. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3695
Resistance level: 1.3735, 1.3805
Support level: 1.3695, 1.3605
EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1705. MACD which illustrated increasing bearish suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.1760, 1.1800
Support level: 1.1705, 1.1665
USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level at 109.60. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 110.40, 111.10
Support level: 109.60, 109.20
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level at 0.7280. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7220.
Resistance level: 0.7280, 0.7345
Support level: 0.7220, 0.7115
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.7015. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.7080, 0.7160
Support level: 0.7015, 0.6940
USDCAD, H4: USDCAD was traded higher following prior rebound from the support level at 1.2725. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2780
Resistance level: 1.2780, 1.2850
Support level: 1.2725, 1.2625
USDCHF, Daily: USDCHF was traded higher following prior breakout above the previous resistance level at 0.9305. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9375
Resistance level: 0.9375, 0.9440
Support level: 0.9305, 0.9230
CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 72.30. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 70.40.
Resistance level: 72.30, 73.75
Support level: 70.40, 67.75
GOLD_, H4: Gold price was traded lower while currently testing the support level at 1749.35. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1763.70, 1778.55
Support level: 1749.35, 1737.05
Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.
170921 Afternoon Session Analysis
17 September 2021 Afternoon Session Analysis
New Zealand Kiwi remains weak despite positive data.
The New Zealand dollar was traded lower against US dollar and other currency pairs despite with bullish economic data. According to Statistics New Zealand, Gross Domestic Product (GDP) in second quarter edged higher from the previous reading of 1.4% to 2.8%, exceeding forecasted reading of 1.3%. The uptick in New Zealand GDP data was mainly due to the increase in consumer spending following easing Covid-19 figures. Firmer economic data may result in higher speculation that Reserve Bank of New Zealand (RBNZ) to initiate its rate hike before end of this year. Nevertheless, the bullish momentum of the pair of NZD/USD was limited following upbeat US retails data. The better-than-expected US retails data has risen market speculation over Fed’s tapering announcement during its monetary policy meeting next week. As of writing, the pair of NZD/USD slumped 0.18% to 0.7061.
In the commodities market, the crude oil price surged 0.2% to $72.15 per barrel as of writing amid the easing oil production. According to the Energy Information Administration (EIA), US oil production has eased from 11.5 million to 10 million barrels per day after the strike of Hurricane Ida which induced a large scale of damage to the oil refiner platform. On the other hand, the gold price was down 0.25% to $1757.77 per troy ounces as of writing amid strengthening 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 |
| 14:00 | GBP – Retail Sales (MoM) (Aug) | -2.50% | 0.50% | – |
| 17:00 | EUR – CPI (YoY) (Aug) | 2.20% | 3.00% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout above the previous resistance level 92.70. MACD which illustrate bullish bias signal suggest the dollar to extend its gains towards the resistance level 93.10.
Resistance level: 93.10, 93.70
Support level: 92.70, 92.05
GBPUSD, H4: GBPUSD remain traded in a sideway channel while currently testing the support level 1.3765. However, MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 1.3875, 1.3990
Support level: 1.3765, 1.3600
EURUSD, H4: EURUSD was traded lower following prior breakout below the previous support level 1.1800. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 1.1705.
Resistance level: 1.1800, 1.1885
Support level: 1.1705, 1.1625
USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level 109.60. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 110.20.
Resistance level: 110.20, 110.75
Support level: 109.60, 109.15
AUDUSD, H4: AUDUSD was traded lower following recent retracement from the resistance level 0.7335. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 0.7250.
Resistance level: 0.7335, 0.7415
Support level: 0.7250, 0.7150
NZDUSD, H4: NZDUSD was traded lower following prior breakout below the previous support level 0.7075. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 0.6990.
Resistance level: 0.7075, 0.7145
Support level: 0.6990, 0.6920
USDCAD, H4: USDCAD remain traded in a sideway channel while currently testing the resistance level 1.2685. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level 1.2685.
Resistance level: 1.2685, 1.2770
Support level: 1.2585, 1.2510
USDCHF, H4: USDCHF was traded higher following prior breakout above the previous resistance level 0.9245. MACD which illustrate bullish bias signal suggest the pair to extend its gains towards the resistance level 0.9310.
Resistance level: 0.9310, 0.9355
Support level: 0.9245, 0.9200
CrudeOIL, H4: Crude oil price was traded flat after recent breakout above the previous resistance level 70.45. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower as a technical correction towards the support level 70.45.
Resistance level: 74.30, 77.00
Support level: 70.45, 68.05
GOLD, H4: Gold price was traded lower while currently testing the support level 1754.40. MACD which illustrate diminishing bearish momentum signal suggest the commodity to experience a technical correction towards the resistance level 1785.80.
Resistance level: 1806.85, 1831.20
Support level: 1785.80, 1760.35
170921 Morning Session Analysis
17 September 2021 Morning Session Analysis
Dollar surged amid positive data.
The Dollar Index which traded against a basket of six major currency surged significantly over the backdrop of a string of upbeat economic data yesterday, spurring positive prospect toward the economic progression in the United States. According to Federal Reserve Bank of Philadelphia, U.S. Philadelphia Fed Manufacturing Index notched up significantly from the previous reading of 19.4 to 30.7, exceeding the market forecast at 18.8. Meanwhile, Census Bureau reported that the U.S. Retail Sales for last month increased from the previous reading of -1.8% to 0.7%, which also fared much better than market expectation at -0.8%. As both crucial data were fared better-than-expectation, which easing some concerns about a sharp slowdown in economic growth while increasing hopes for the Federal Reserve to start tapering the monetary policy in short-term basis. As of writing, the Dollar Index appreciated by 0.05% to 92.95.
In the commodities market, the crude oil price extends its gains by 0.20% to $72.50 per barrel as of writing. The oil market continues to edge higher as market participants remained optimism toward the rapid Covid-19 vaccination process around the world would increase the appeal for this black-commodity in future. On the other hand, the gold price slumped 0.05% to $1755.60 per troy ounces as of writing amid strengthening 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 |
| 14:00 | GBP – Retail Sales (MoM) (Aug) | -2.50% | 0.50% | – |
| 17:00 | EUR – CPI (YoY) (Aug) | 2.20% | 3.00% | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher following prior breakout above the previous resistance level at 92.65. MACD which illustrated increasing bullish momentum suggest the index to extend its gains toward resistance level at 93.25.
Resistance level: 93.25, 94.10
Support level: 92.65, 91.80
GBPUSD, H4: GBPUSD was traded lower prior breakout below the previous support level at 1.3805. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3735.
Resistance level: 1.3805, 1.3880
Support level: 1.3735, 1.3695
EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1800. MACD which illustrated increasing bearish suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.1800, 1.1840
Support level: 1.1760, 1.1705
USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level at 109.60. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 110.40.
Resistance level: 110.40, 111.10
Support level: 109.60, 109.20
AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.7280. MACD which illustrated increasing bearish suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.7345, 0.7780
Support level: 0.7280, 0.7220
NZDUSD, H4: NZDUSD was traded lower following prior breakout below the previous support level at 0.7080. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7015.
Resistance level: 0.7080, 0.7160
Support level: 0.7015, 0.6940
USDCAD, H4: USDCAD was traded higher following prior rebound from the support level at 1.2625. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2725.
Resistance level: 1.2725, 1.2780
Support level: 1.2625, 1.2580
USDCHF, Daily: USDCHF was traded higher following prior breakout above the previous resistance level at 0.9230. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9305.
Resistance level: 0.9305, 0.9375
Support level: 0.9230, 0.9100
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 72.30. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 72.30, 73.75
Support level: 70.40, 67.75
GOLD_, H4: Gold price was traded lower while currently testing the support level at 1754.70. MACD which illustrated increasing bearish suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1778.55, 1796.55
Support level: 17, 1727.20
Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.
160921 Afternoon Session Analysis
16 September 2021 Afternoon Session Analysis
Pound rose following positive economic data.
The pound sterling which traded against the dollar and other currency pairs have rebound from its recent low after recent release of positive economic data. According to National Statistics, U.K Consumer Price Index (CPI) rose to 3.2%, much higher than the forecast of 2.9%. It has also recorded the highest increase in 24 years. Following Reuter’s report, the increase in the inflation rate in the UK has been driven by a faster job market recovery after the UK recorded a recruitment of 241,000 individuals last month. The positive data has also strengthened the view of the Central Bank of England that the minimum conditions for initiating monetary policy tightening have been met and a reduction in the volume of bond purchases is likely to be implemented in the near term. At the time of writing, GBP/USD rose 0.04% to $1.3840.
In the commodities market, crude oil price rose 0.09% to $72.28 per barrel as of writing amid dwindling supply. According to reports, oil drillers in the Gulf of Mexico are still struggling to restore output more than two weeks after Hurricane Ida made landfall on the coast of Louisiana, with almost a third of production still idled. Operators have shut down 36 platforms out of 560, resulting in a loss of production of about half a million barrels of oil on Wednesday, according to the Bureau of Safety and Environmental Enforcement. On the other hand, gold price rose 0.10% to $1795.60 a troy ounce at the time of writing following dollar retreat.
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 |
| 20:30 | USD – Core Retail Sales (MoM) (Aug) | -0.40% | -0.10% | – |
| 20:30 | USD – Initial Jobless Claims | 310K | 318K | – |
| 20:30 | USD – Philadelphia Fed Manufacturing Index (Sep) | 19.4 | 19 | – |
| 20:30 | USD – Retail Sales (MoM) (Aug) | -1.10% | -1.00% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following recent retracement from the resistance level 92.70. MACD which illustrate bearish momentum signal suggest the dollar to extend its losses towards the support level 92.05.
Resistance level: 92.70, 93.10
Support level: 92.05, 91.60
GBPUSD, H4: GBPUSD remain traded in a sideway channel. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to traded higher in short term towards the resistance level 1.3875.
Resistance level: 1.3875, 1.3990
Support level: 1.3765, 1.3600
EURUSD, H4: EURUSD was traded flat while currently testing near the support level 1.1800. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower after it breaks below the support level.
Resistance level: 1.1885, 1.1950
Support level: 1.1800, 1.1705
USDJPY, H4: USDJPY was traded lower while currently testing near the support level 109.15. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 109.60, 110.20
Support level: 109.15, 108.65
AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level 0.7335. However, MACD which illustrate persistent bearish momentum signal suggest the pair to be traded lower towards the support level 0.7250.
Resistance level: 0.7330, 0.7415
Support level: 0.7250, 0.7150
NZDUSD, H4: NZDUSD remain traded in a sideway channel while currently testing near the resistance level 0.7145. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher after it breaks above the resistance level.
Resistance level: 0.7145, 0.7225
Support level: 0.7075, 0.6990
USDCAD, H4: USDCAD remain traded in a sideway channel following recent retracement from the resistance level 1.2685. MACD which illustrate bearish momentum signal suggest the pair to extend its retracement in short term towards the support level 1.2585.
Resistance level: 1.2685, 1.2770
Support level: 1.2585, 1.2510
USDCHF, H4: USDCHF was traded higher while currently testing the resistance level 0.9200. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 0.9200, 0.9245
Support level: 0.9100, 0.9025
CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level 70.45. MACD which illustrate ongoing bullish momentum signal suggest the commodity to extend its gains towards the resistance level 74.30.
Resistance level: 74.30, 77.00
Support level: 70.45, 68.05
GOLD, H4: Gold price was traded in a sideway channel following recent retracement from the resistance level 1806.85. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its retracement in short term towards the support level 1785.80.
Resistance level: 1806.85, 1831.20
Support level: 1785.80, 1760.35
160921 Morning Session Analysis
16 September 2021 Morning Session Analysis
NZD surged amid upbeat data.
The New Zealand Dollar surged over the backdrop of a string of upbeat economic data in the early trading hour. According to Statistics New Zealand, New Zealand Gross Domestic Product (GDP) for last quarter notched up significantly from the previous reading of 1.4% to 2.8%, better than the market forecast at 1.3%. Services industries were the largest contributor to GDP growth in the June 2021 quarter. The main contributor was the retail, accommodation and restaurant following the Covid-19 pandemic was eased in New Zealand. Overall, most industries recorded positive results in the June 21 quarter compared with the December 2019 quarter. As a result, the June quarter GDP is above pre Covid-19 levels, rising 4.3% when compared with the December 2019. Besides, such upbeat economic data would increase probability for the central bank to start tapering their monetary policy, which spurring further bullish momentum for the New Zealand Dollar. As of writing, the pair of NZDUSD surged by 0.32% to 0.7125.
In the commodities market, the crude oil price appreciated by 0.15% to 72.50 per barrel as of writing. The oil market edged higher amid bullish inventory data yesterday. According to Energy Information Administration (EIA), U.S. Crude Oil Inventories notched down significantly from the previous reading of -1.529M to -6.422M, better than the market forecast at -3.544M. On the other hand, the gold price slumped 0.05% to $1794.20 per troy ounces as of writing as market participants speculated the Federal Reserve might implement contractionary monetary policy in order to combat the higher inflation risk in future.
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 |
| 20:30 | USD – Core Retail Sales (MoM) (Aug) | -0.40% | -0.10% | – |
| 20:30 | USD – Initial Jobless Claims | 310K | 318K | – |
| 20:30 | USD – Philadelphia Fed Manufacturing Index (Sep) | 19.4 | 19 | – |
| 20:30 | USD – Retail Sales (MoM) (Aug) | -1.10% | -1.00% | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher while currently testing the resistance level at 92.70. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.
Resistance level: 92.70, 93.5
Support level: 91.80, 90.75
GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level at 1.3805. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 1.3880, 1.3945
Support level: 1.3805, 1.3735
EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1800. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.1840, 1.18495
Support level: 1.1800, 1.1760
USDJPY, H4: USDJPY was traded lower while currently testing the support level at 109.60. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 109.60, 110.40
Support level: 109.20, 108.45
AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7345. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.7345, 0.7780
Support level: 0.7280, 0.7220
NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.7160. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.7160, 0.7255
Support level: 0.7080, 0.7015
USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2625. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2725, 1.2780
Support level: 1.2625, 1.2580
USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 0.9230. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 0.9230, 0.9305
Support level: 0.9100, 0.9035
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 72.30. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.
Resistance level: 72.30, 73.75
Support level: 70.40, 67.75
GOLD_, H4: Gold price was traded lower following prior breakout below the previous support level at 1796.55. However, MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1778.55.
Resistance level: 1796.55, 1807.15
Support level: 1778.55, 1754.70
Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.
150921 Afternoon Session Analysis
15 September 2021 Afternoon Session Analysis
Pound Sterling fell despite bullish employment data.
The Pound Sterling was traded lower against US dollar and other currency pairs despite with bullish U.K employment data. According to the Office for National Statistics, the Claimant Count Change for August came in with the reading of -58.6K, lower than the previous reading of -48.9K. Meanwhile, the Average Earnings Index for July came in at 8.3%, higher than the market expectation of 8.2%. Both employment data suggested that a growing labor market in UK with lesser unemployed worker and higher payroll which may result in higher consumer spending in the nation. Nevertheless, the bullish momentum of the Pound Sterling was pressured by the Brexit woes. Following latest development of Brexit woes, majority of the UK exporters encountered strict custom checks on their goods before entering EU. Meanwhile, both UK and Europe impasse continues over the Northern Ireland Protocol as the EU rejected the requests from UK to renegotiate on the terms of the protocol. As of writing, the pair of GBP/USD slumped 0.08% to 1.3793.
In the commodities market, the crude oil price surged 0.25% to $70.69 amid improving demand outlook. According to statement from EIA, Covid-19 vaccine rollouts could drive an economic rebound. On the other hand, production in the Gulf of Mexico remain struggling to return which could continue to tighten supply and help lifting the price. On the other hand, the gold price rose 0.1% to $1802.59 per troy ounces as of writing amid softer 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 |
| 14:00 | GBP – CPI (YoY) (Aug) | 2.00% | 2.90% | – |
| 20:30 | CAD – Core CPI (MoM) (Aug) | 0.60% | – | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -1.529M | – | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher while currently testing near the resistance level 92.70. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its gains after it breaks above the resistance level 92.70.
Resistance level: 92.70, 93.10
Support level: 92.05, 91.60
GBPUSD, H4: GBPUSD was traded lower while currently testing near the support level 1.3765. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses after it breaks below the support level 1.3765.
Resistance level: 1.3875, 1.3990
Support level: 1.3765, 1.3600
EURUSD, H4: EURUSD was traded lower while currently testing the support level 1.1800. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level 1.1800.
Resistance level: 1.1885, 1.1950
Support level: 1.1800, 1.1705
USDJPY, H4: USDJPY remain traded in a sideway channel while currently testing the support level 109.60. However, MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 110.20, 110.75
Support level: 109.60, 109.15
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level 0.7330. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 0.7250.
Resistance level: 0.7330, 0.7415
Support level: 0.7250, 0.7150
NZDUSD, H4: NZDUSD remain traded flat in a sideway channel while currently testing near the support level 0.7075. MACD which illustrate bearish bias signal suggest the pair to be traded lower after it breaks below the support level.
Resistance level: 0.7145, 0.7225
Support level: 0.7075, 0.6990
USDCAD, H4: USDCAD remain traded in a sideway channel while currently testing the resistance level 1.2685. However, MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to be traded higher after it breaks above the resistance level.
Resistance level: 1.2685, 1.2770
Support level: 1.2585, 1.2510
USDCHF, H4: USDCHF was traded flat while currently testing the resistance level 0.9200. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to be traded lower towards the support level 0.9100.
Resistance level: 0.9200, 0.9245
Support level: 0.9100, 0.9025
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level 70.55. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience a technical correction towards the support level 68.05.
Resistance level: 70.55, 74.30
Support level: 68.05, 65.35
GOLD, H4: Gold price was traded higher following prior breakout above the previous resistance level 1795.45. MACD which illustrate bullish momentum signal suggest the commodity to extend its gains towards the resistance level 1831.20.
Resistance level: 1831.20, 1866.85
Support level: 1795.45, 1760.35
150921 Morning Session Analysis
15 September 2021 Morning Session Analysis
Dollar slumped amid bearish inflation data.
The Dollar Index which traded against a basket of six major currency slumped over the backdrop of bearish economic data yesterday, which creating conflict about the timing of the Federal Reserve’s contractionary monetary policy. Earlier, several Monetary Policy Committee (MPC) have suggested the Federal Reserve to reduce its bond buying program by the end of the year in order to combat the high inflation risk. Nonetheless, U.S. Bureau of Labor Statistics showed that the U.S. Core Consumer Price Index (CPI) for last month had notched down from the preliminary reading of 0.3% to 0.1%, missing the market forecast at 0.3%. Such negative inflation data had dialed down the market optimism toward the economic progression in the United States, which increasing the probability for the Federal Reserve to extend their expansionary monetary policy in longer-basis. Though, the overall statement from the Federal Reserve remained vague, investors would continue to continue scrutinize the latest updates with regards of the future FOMC meeting as well as further economic data to receive further trading signal. As of writing, the Dollar Index depreciated by 0.05% to 92.65.
In the commodities market, the crude oil price surged 0.17% to 70.95 per barrel as of writing. The crude oil price surged amid bullish inventory data in the early morning. According to American Petroleum Institute (API), U.S. API Weekly Crude Oil Stock came in at -5.437M, better than the market forecast at -3.903M. On the other hand, the gold price jumped 0.05% to $1803.15 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 |
| 14:00 | GBP – CPI (YoY) (Aug) | 2.00% | 2.90% | – |
| 20:30 | CAD – Core CPI (MoM) (Aug) | 0.60% | – | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -1.529M | – | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher while currently testing the resistance level at 92.70. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.
Resistance level: 92.70, 93.5
Support level: 91.80, 90.75
GBPUSD, H4: GBPUSD was traded lower while currently testing the support level at 1.3805. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.3880, 1.3945
Support level: 1.3805, 1.3735
EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1800. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.1840, 1.18495
Support level: 1.1800, 1.1760
USDJPY, H4: USDJPY was traded lower while currently testing the support level at 109.60. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 110.40, 111.10
Support level: 109.60, 109.20
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level at 0.7345. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7280.
Resistance level: 0.7345, 0.7780
Support level: 0.7280, 0.7220
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.7080. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.7160, 0.7255
Support level: 0.7080, 0.7015
USDCAD, H4: USDCAD was traded higher following prior rebound from the support level at 1.2625. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2725.
Resistance level: 1.2725, 1.2780
Support level: 1.2625, 1.2580
USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 0.9230. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.9230, 0.9305
Support level: 0.9100, 0.9035
CrudeOIL, H1: Crude oil price was traded higher while currently testing the resistance level at 70.75. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 70.75, 71.55
Support level: 69.70, 67.75
GOLD_, H4: Gold price was traded higher while currently testing the resistance level at 1807.15 MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1807.15, 1818.80
Support level: 1796.55, 1778.55
Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.
140921 Afternoon Session Analysis
14 September 2021 Afternoon Session Analysis
Australian dollar rose following positive economic outlook.
The Australian dollar was traded higher against US dollar and other currency pairs over the backdrop of positive economic outlook. The recent Sino-US talk which could lead to more trade deals has boosted the market sentiment toward the Australian dollar. According to Chinese Ambassador to U.S Qin Gang, China has been faithfully implementing China-U.S phase one economic trade agreement and hope U.S side to work with China to create necessary environment for the agreement. Foreign Ministry spokesman Zhao Lijian also called on the US to uphold the spirit of the telephone conversation last week between President Joe Biden and Xi Jinping and hopes that both sides could get relationship back to the right track of steady development. On the other hand, Australian Prime Minister Scott Morrison was invited to attend the ‘Quad’ summit hosted by U.S. President Joe Biden which aims to strengthen the four-way partnership between US, Japan, Australia, and India in the Indo-Pacific region. At the time of writing, AUD/USD edge higher 0.03% to $0.7357.
In the commodities market, the crude oil price surged 0.15% to $70.53 per barrel as of writing amid the prediction of Tropical Storm Nicholas. According to the prediction from the U.S. National Hurricane Center, tropical Storm Nicholas will be landing at the South Texas which could result in US oil refiners continue to delay their production. On the other hand, the gold price was down 0.05% to $1790.55 per troy ounces as 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 |
| 14:00 | GBP – Average Earnings Index +Bonus (Jul) | 8.80% | 8.20% | – |
| 14:00 | GBP – Claimant Count Change (Aug) | -7.8K | – | – |
| 20:30 | USD – Core CPI (MoM) (Aug) | 0.30% | 0.30% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the resistance level 92.70. MACD which illustrate diminishing bullish momentum signal with the formation of death cross suggest the dollar to extend its retracement towards the support level 92.05.
Resistance level: 92.70, 93.10
Support level: 92.05, 91.60
GBPUSD, H4: GBPUSD was traded higher following prior rebound from its low level. MACD illustrate bullish bias suggest the pair to extend its rebound towards the resistance level 1.3875.
Resistance level: 1.3875, 1.3990
Support level: 1.3765, 1.3600
EURUSD, H4: EURUSD was traded higher following prior rebound from the the support level 1.1800. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains towards the resistance level 1.1885.
Resistance level: 1.1885, 1.1950
Support level: 1.1800, 1.1705
USDJPY, H4: USDJPY remain traded in a sideway channel while currently testing near the resistance level 110.20. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher after it breaks above the resistance level.
Resistance level: 110.20, 110.75
Support level: 109.60, 109.15
AUDUSD, H4: AUDUSD remain traded in a sideway channel. Due to lack of momentum and clear direction from MACD, it is suggested to wait until further signal appear before entering market.
Resistance level: 0.7415, 0.7485
Support level: 0.7330, 0.7250
NZDUSD, H4: NZDUSD remain traded flat in a sideway channel. However, MACD which illustrate bearish momentum signal suggest the pair to be traded lower in short term towards the support level 0.7075.
Resistance level: 0.7145, 0.7225
Support level: 0.7075, 0.6990
USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level 1.2685. MACD which illustrate bearish momentum signal suggest the pair to extend its retracement towards the support level 1.2585.
Resistance level: 1.2685, 1.2770
Support level: 1.2585, 1.2510
USDCHF, H4: USDCHF was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement in short term towards the support level 0.9200.
Resistance level: 0.9245, 0.9310
Support level: 0.9200, 0.9100
CrudeOIL, H4: Crude oil price remain traded in a sideway channel while currently testing the resistance level 70.55. MACD which illustrate bullish momentum signal suggest the commodity to be traded higher after it breaks above the resistance level 70.55.
Resistance level: 70.55, 74.30
Support level: 68.05, 65.35
GOLD, H4: Gold price remain traded flat near the resistance level. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower towards the support level 1760.35.
Resistance level: 1795.45, 1831.20
Support level: 1760.35, 1725.50
140921 Morning Session Analysis
14 September 2021 Morning Session Analysis
Dollar surged amid hawkish expectation.
The Dollar Index which traded against a basket of six major currency extend its gains, bolstered by the hawkish expectations that Federal Reserve might start to reduce its bond buying program by the end of the year despite a surged in Covid-19 cases. According to Reuters, Philadelphia Fed President Patrick Harker official claims that he supports the US Central Bank to start tapering this year. Besides, others Federal Reserve members such as Cleveland Fed President Loretta Mester also expressed the importance of tightening monetary policy in order to combat the high inflation risk in future. Reduction in bond buying program means a step toward tighter monetary policy, which would reduce the money circulation in the market while increasing the appeal for the US Dollar. Nonetheless, due to lack of crucial economic data from United States yesterday, the overall movement for the US Dollar remained subdued. Hence, investors would continue to scrutinize the latest updates with regards of crucial data from US region this week in order to gauge the likelihood movement for the US Dollar. As of writing, the Dollar Index appreciated by 0.05% to 92.60.
In the commodities market, the crude oil price surged 0.05% to 70.70 per barrel as of writing. The oil market extends its gains amid concerns over the U.S. oil supply following the destruction from Hurricane Ida, along with expectation for higher demand amid positive prospect for the Covid-19 vaccination. On the other hand, the gold price slumped 0.03% to $1793.10 per troy ounces as of writing.
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 |
| 14:00 | GBP – Average Earnings Index +Bonus (Jul) | 8.80% | 8.20% | – |
| 14:00 | GBP – Claimant Count Change (Aug) | -7.8K | – | – |
| 20:30 | USD – Core CPI (MoM) (Aug) | 0.30% | 0.30% | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher while currently testing the resistance level at 92.70. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.
Resistance level: 92.70, 93.25
Support level: 91.80, 90.75
GBPUSD, H4: GBPUSD was traded lower while currently testing the support level at 1.3805. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.3880, 1.3945
Support level: 1.3805, 1.3735
EURUSD, H4: EURUSD was traded higher while currently testing the resistance level at 1.1810. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1.1810, 1.1840
Support level: 1.1760, 1.1705
USDJPY, H4: USDJPY was traded higher following prior rebounded from the support level at 109.65. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 110.40, 111.10
Support level: 109.65, 109.20
AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.7340. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.7480, 0.7590
Support level: 0.7340, 0.7280
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.7080. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.7160, 0.7255
Support level: 0.7080, 0.7015
USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2625. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.2690, 1.2725
Support level: 1.2625, 1.2580
USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 0.9230. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 0.9230, 0.9305
Support level: 0.9100, 0.9035
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 70.40. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 70.40, 71.55
Support level: 67.70, 66.10
GOLD_, H4: Gold price was traded higher while currently testing the resistance level at 1796.55. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1796.55, 1807.15
Support level: 1778.55, 1754.70
Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.
130921 Afternoon Session Analysis
13 September 2021 Afternoon Session Analysis
Euro remains weak following recent dovish ECB.
The Euro which traded against the greenback and other currency pairs remains pressured and fell amid recent dovish statement from European Central Bank (ECB). According to report, the President of the European Central Bank Christine Lagarde stated that the central bank still intends to supply adequate support to EU financial market. Lagarde noted that any changes taken will depend on current economic data and it will remain flexible so that a strong economic recovery can be achieved. While the economic situation in the EU has showed a recovery from a number of key factors, Lagarde noted that it is too early to make drastic changes and it still needs further monitoring. The signal delivered by Lagarde displays that policy easing will remain in the EU for a longer period of time so that the economy recovers and stabilizes rather than for a while. At the time of writing, EUR/USD fell 0.09% to 1.1801.
In the commodities market, crude oil price rose 0.56% to $70.14 per barrel as of writing following concerns over U.S supplies along with higher demand expectations. Following latest development, about three-quarters of the U.S. Gulf’s offshore oil production, or about 1.4 million barrels per day, has remained halted since late August. On the other hand, gold price slips 0.09% to $1789.39 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
N/A
Technical Analysis
DOLLAR_INDX, H4: Dollar was traded higher while currently testing near the resistance level 92.70. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the dollar to extend its gains after it breaks above the resistance level 92.70.
Resistance level: 92.70, 93.10
Support level: 92.05, 91.60
GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level 1.3875. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 1.3765.
Resistance level: 1.3875, 1.3990
Support level: 1.3765, 1.3600
EURUSD, H4: EURUSD was traded lower while currently testing the support level 1.1800. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.
Resistance level: 1.1885, 1.1950
Support level: 1.1800, 1.1705
USDJPY, H4: USDJPY remain traded in a sideway channel following recent rebound from the support level 109.60. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound in short term towards the resistance level 110.20.
Resistance level: 110.20, 110.75
Support level: 109.60, 109.15
AUDUSD, H4: AUDUSD remain traded in a sideway channel while currently testing near the support level 0.7330. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher in short term towards the resistance level 0.7415.
Resistance level: 0.7415, 0.7485
Support level: 0.7330, 0.7250
NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level 0.7145. MACD which illustrate bearish momentum signal suggest the pair to extend its losses toward the support level 0.7075.
Resistance level: 0.7145, 0.7225
Support level: 0.7075, 0.6990
USDCAD, H4: USDCAD was traded higher while currently testing the resistance level 1.2685. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 1.2685, 1.2770
Support level: 1.2585, 1.2510
USDCHF, H4: USDCHF remain traded in a sideway channel while currently testing near the resistance level 0.9200. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 0.9200, 0.9245
Support level: 0.9100, 0.9025
CrudeOIL, H4: Crude oil price remain traded in a sideway channel while currently testing near the resistance level 70.55. However, MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.
Resistance level: 70.55, 74.30
Support level: 68.05, 65.35
GOLD, H4: Gold price was traded lower following recent retracement from the resistance level 1795.40. MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to extend its losses towards the support level 1760.35.
Resistance level: 1795.40, 1831.20
Support level: 1760.35, 1725.50