{"id":151955,"date":"2021-01-04T05:49:37","date_gmt":"2021-01-04T05:49:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=151955"},"modified":"2021-01-04T05:56:46","modified_gmt":"2021-01-04T05:56:46","slug":"040121-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040121-afternoon-session-analysis\/","title":{"rendered":"040121 Afternoon Session Analysis"},"content":{"rendered":"

04 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Safe-haven Yen surged on risk-off sentiment.<\/strong><\/span><\/p>\n

Asian share markets plunged on Monday following reports of the possibility of tightening the lock-down policy for Tokyo, which diminishing risk appetite in the FX market while prompting investors to shift their portfolio toward safe-haven asset such as Japanese Yen. According to Reuters, Japanese Prime Minister Yoshihide Suga claimed on Monday that the Japanese government would consider to declare a state of emergency amid spiking numbers of Covid-19 infections had strained the country\u2019s medical system. On 31st<\/sup> December 2020, Japan had recorded 4,520 new Covid-19 cases in a fresh wave of infections. As an interim measure, restaurants and entertainment in the Tokyo area are being forced to close at 8 p.m., while businesses that serve alcohol should close at 7 p.m. Nonetheless, as for now investors would continue to scrutinize the latest updates with regards of effective of Covid-19\u2019s vaccination program as well as the latest government restrictions to combat the spiking Covid-19 infections rate in order to gauge the likelihood movement for the currency. As of writing, the pair of USD\/JPY depreciated by 0.20% to 103.00.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged 1.39% to $49.05 per barrel as of writing. The crude oil price edged higher amid the market participants remained optimism toward the Covid-19\u2019s vaccination program could curb the problem of the pandemic. On the Covid-19 vaccine front, India on Saturday had started one of the world\u2019s biggest coronavirus vaccination programs following the drug regulator approved the AstraZeneca-Oxford University shot. On the other hand, the gold price appreciated by 1.46% to $1921.50 per troy ounces as of writing amid diminishing risk appetite in the global financial market.<\/p>\n

 <\/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

N\/A<\/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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Manufacturing PMI (Dec)<\/td>\n58.6<\/td>\n58.6<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing PMI<\/td>\n57.3<\/td>\n57.3<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Weekly: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 91.70. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 88.55.<\/p>\n

 <\/p>\n

Resistance level: 91.70, 94.35<\/p>\n

Support level: 88.55, 84.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3675. 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: 1.3670, 1.3780<\/p>\n

Support level: 1.3580, 1.3495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.2205. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.2305.<\/p>\n

 <\/p>\n

Resistance level: 1.2305, 1.2450<\/p>\n

Support level: 1.2205, 1.2130<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the support level at 103.05. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 103.70, 104.55<\/p>\n

Support level: 103.05, 102.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Weekly: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7570. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7860.<\/p>\n

 <\/p>\n

Resistance level: 0.7860, 0.8135<\/p>\n

Support level: 0.7570, 0.7130<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Weekly: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7110. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7340.<\/p>\n

 <\/p>\n

Resistance level: 0.7340, 0.7550<\/p>\n

Support level: 0.7110, 0.6905<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2690. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2980, 1.3295<\/p>\n

Support level: 1.2690, 1.2415<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.8830. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.8895, 0.8945<\/p>\n

Support level: 0.8830, 0.8790<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 49.25 MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 49.25, 50.00<\/p>\n

Support level: 47.90, 46.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1912.45. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1930.55.<\/p>\n

 <\/p>\n

Resistance level: 1930.55, 1950.55<\/p>\n

Support level: 1912.45, 1891.30<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

04 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Safe-haven Yen surged on risk-off sentiment. Asian share markets plunged on Monday following reports of the possibility of tightening the lock-down policy for Tokyo, which diminishing risk appetite in the FX market while prompting investors to shift their portfolio toward safe-haven asset such as Japanese Yen. According to […]<\/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\/151955"}],"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=151955"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/151955\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=151955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=151955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=151955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}