{"id":132204,"date":"2020-07-21T04:01:39","date_gmt":"2020-07-21T04:01:39","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=132204"},"modified":"2020-07-21T04:01:39","modified_gmt":"2020-07-21T04:01:39","slug":"210720-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/210720-afternoon-session-analysis\/","title":{"rendered":"210720 Afternoon Session Analysis"},"content":{"rendered":"

21 July 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

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Safe-haven Doller slumped over the risk-on sentiment.<\/strong><\/span><\/p>\n

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The safe-haven US Dollar retreated over the backdrop of the positive data from trials of three potential coronavirus vaccines, which increasing the risk appetite in the FX market while prompting investors to selloff significantly the safe-haven Dollar. According to Reuters, the early data from trials of three potential coronavirus vaccines released on Monday had increased the confidence that a vaccine can able to stimulate the immune system to recognize and fight the novel coronavirus without any serious side effects. Besides that, the hopes for economics stimulus package in Europe had also spurred the risk-on sentiment in the FX market, which weighing the market demand on the safe-haven asset. According to Reuters, the European Union (EU) leaders had appeared closer to reach agreement during late Monday for a likely \u20ac1.8 trillion coronavirus spending package in order to revive the economic growth in the European region. Nonetheless, investors would continue to scrutinize the latest updates with regards of the coronavirus and also vaccine development in order to gauge the likelihood movement for the pair. As of writing, the Dollar index depreciated by 0.15% to 95.60.<\/p>\n

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In the commodities market, the crude oil price surged 0.41% to $40.90 per barrel as of writing. The oil market edged higher amid the positive prospect of the vaccine development had lifted up the market hopes upon the demand recovery for crude oil in the future. On the other hand, the gold market surged 0.02% to $1817.40 per troy ounces amid weakening US Dollar.<\/p>\n

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Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

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Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20.30<\/td>\nCAD \u2013 Core Retail Sales (MoM) (May)<\/td>\n–<\/td>\n12.0%<\/td>\n-22.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Technical Analysis<\/u><\/strong><\/p>\n

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 95.65. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 94.95.<\/p>\n

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Resistance level: 95.65, 96.20<\/p>\n

Support level: 94.95, 94.60<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2665.\u00a0 MACD which illustrate bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.2665.<\/p>\n

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Resistance level: 1.2665, 1.2730<\/p>\n

Support level: 1.2580, 1.2525<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1435. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.1490.<\/p>\n

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Resistance level: 1.1490, 1.1555<\/p>\n

Support level: 1.1435, 1.1360<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 107.35. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 106.95.<\/p>\n

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Resistance level: 107.35, 107.50<\/p>\n

Support level: 106.95, 106.35<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7025. MACD which illustrate bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.7025.<\/p>\n

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Resistance level: 0.7025, 0.7070<\/p>\n

Support level: 0.6990, 0.6965<\/p>\n

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\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6580. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.6580.<\/p>\n

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Resistance level: 0.6580, 0.6755<\/p>\n

Support level: 0.6480, 0.6380<\/p>\n

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USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3500. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 1.3500.<\/p>\n

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Resistance level: 1.3675, 1.3865<\/p>\n

Support level: 1.3500, 1.3355<\/p>\n

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USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9365. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level at 0.9365.<\/p>\n

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Resistance level: 0.9430, 0.9475<\/p>\n

Support level: 0.9365, 0.9265<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the upward trendline. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains toward the resistance level at 41.35.<\/p>\n

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Resistance level: 41.35, 42.50<\/p>\n

Support level: 40.10, 39.00<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1813.90. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1823.80.<\/p>\n

 <\/p>\n

Resistance level: 1823.80, 1836.55<\/p>\n

Support level: 1813.90, 1803.85<\/p>\n","protected":false},"excerpt":{"rendered":"

21 July 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Safe-haven Doller slumped over the risk-on sentiment.   The safe-haven US Dollar retreated over the backdrop of the positive data from trials of three potential coronavirus vaccines, which increasing the risk appetite in the FX market while prompting investors to selloff significantly the safe-haven Dollar. According to Reuters, […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/132204"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=132204"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/132204\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=132204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=132204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=132204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}