{"id":151814,"date":"2020-12-31T07:41:18","date_gmt":"2020-12-31T07:41:18","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=151814"},"modified":"2020-12-31T07:41:18","modified_gmt":"2020-12-31T07:41:18","slug":"311220-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/311220-afternoon-session-analysis\/","title":{"rendered":"311220 Afternoon Session Analysis"},"content":{"rendered":"

31 December 2020\u00a0\u00a0\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

 <\/p>\n

Dollar stunned ahead of year 2021.<\/strong><\/span><\/p>\n

Dollar index which gauges its value against a basket of six major currencies lingers around the two-year low level as market are waiting for more catalyst in this light trading volume day. Despite Senate Majority leader Mitch McConnell has slammed the door on the proposal of increasing the stimulus checks from $600 to $2000, but investors look beyond the stimulus check while expecting more stimulus plan will be launched in year 2021. Yesterday, Mitch McConnell revealed that there is no realistic path for the stimulus check to be quickly passed in the Senate as he believes that the recent $900 billion stimulus plan has struck a balance between broad support for all kinds of households and a lot more targeted relief for those who need help most. On the other side, Donald Trump has once again demanded that the $2000 direct payment should be passed as soon as possible. During Asian trading session, dollar index dropped 0.17% to 89.45.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.08% to $48.10 per barrel as of writing as market concern over the UK mutated virus may tamper the future demand of oil market. In the latest statistics, UK has reported more than 50k cases per day and the death toll is also rising significantly, exacerbating the market worries of further lockdown in UK. Besides, gold price appreciated by 0.02% to $1895.00 a troy ounce amid weakening of US dollar.<\/p>\n

 <\/p>\n

 <\/p>\n

\u00a0<\/u><\/p>\n

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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Switzerland\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 New Year\u2019s Day<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Japan\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market Holiday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Germany\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 New Year\u2019s Eve<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Italy\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 New Year\u2019s Day<\/p>\n

 <\/p>\n

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

N\/A<\/p>\n

 <\/p>\n

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
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n803K<\/td>\n835K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 89.60. MACD which illustrated bearish bias momentum suggest the index to extend its losses toward support level at 89.30.<\/p>\n

 <\/p>\n

Resistance level: 89.60, 89.90<\/p>\n

Support level: 89.30, 88.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3620. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.3620.<\/p>\n

 <\/p>\n

Resistance level: 1.3620, 1.3710<\/p>\n

Support level: 1.3535, 1.3470<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.2300. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2300, 1.2325<\/p>\n

Support level: 1.2260, 1.2205<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level at 103.00. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 103.65, 104.00<\/p>\n

Support level: 103.00, 102.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7680. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.7720.<\/p>\n

 <\/p>\n

Resistance level: 0.7720, 0.7750<\/p>\n

Support level: 0.7680, 0.7635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7225. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.7225.<\/p>\n

 <\/p>\n

Resistance level: 0.7225, 0.7270<\/p>\n

Support level: 0.7170, 0.7100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2770. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.2695.<\/p>\n

 <\/p>\n

Resistance level: 1.2770, 1.2825<\/p>\n

Support level: 1.2695, 1.2625<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.8820. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.8780.<\/p>\n

 <\/p>\n

Resistance level: 0.8820, 0.8855<\/p>\n

Support level: 0.8780, 0.8740<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the downward trendline. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 48.15.<\/p>\n

 <\/p>\n

Resistance level: 48.70, 49.40<\/p>\n

Support level: 48.15, 47.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1895.40. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 1883.45.<\/p>\n

 <\/p>\n

Resistance level: 1895.40, 1914.35<\/p>\n

Support level: 1883.45, 1870.15<\/p>\n","protected":false},"excerpt":{"rendered":"

31 December 2020\u00a0\u00a0\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   Dollar stunned ahead of year 2021. Dollar index which gauges its value against a basket of six major currencies lingers around the two-year low level as market are waiting for more catalyst in this light trading volume day. Despite Senate Majority leader Mitch McConnell has slammed the door […]<\/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\/151814"}],"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=151814"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/151814\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=151814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=151814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=151814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}