{"id":152092,"date":"2021-01-05T05:40:04","date_gmt":"2021-01-05T05:40:04","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=152092"},"modified":"2021-01-05T05:40:04","modified_gmt":"2021-01-05T05:40:04","slug":"050121-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/050121-afternoon-session-analysis\/","title":{"rendered":"050121 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Dollar surged amid heightening of market uncertainties.<\/strong><\/span><\/p>\n

Dollar index which gauges its value against a basket of six major currencies spiked amid rising of market concerns over the resurgence of mutated virus in UK. According to the Worldometer Statistics, UK has reported more than 57k cases per day as of Monday while the virus-related death toll had been pushed to the level of 75K in total. With the backdrop of exacerbating pandemic in UK, local government has decided to re-implement lockdown measure in order to curb the spread of new strain of coronavirus. Under the new tier of lockdown, primary school and secondary forced to close, and all nonessential shops are not allowed to operate during the lockdown period. The implementation of lockdown measure ignited the market worries as they are expecting more countries to follow UK step on, or stricter movement control could be seen as well. Besides, with two runoff races in Georgia on Tuesday set to determine the balance of power in the U.S. Senate, investors are moving their capital to safe-haven asset while putting their attention over the election result. As of writing, dollar index retraces 0.05% to 89.60.<\/p>\n

In the commodities market, the crude oil price rebounds by 0.89% to $47.65 per barrel after slumping more than 5% last night. Yesterday, OPEC+ decided to adjourn its meeting about oil production plan in February as they opposed against Russia proposal for a supply hike in February. Besides, gold price surged 0.05% to $1942.45 per troy ounce as heightening of virus pandemic sapped the investor\u2019s demand over riskier asset.<\/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

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 \u00a0\u00a0\u00a0 German Unemployment Change (Dec)<\/td>\n-39K<\/td>\n10K<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Dec)<\/td>\n57.5<\/td>\n56.6<\/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 retracement from the resistance level at 89.90. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward the support level at 89.60.<\/p>\n

 <\/p>\n

Resistance level: 89.90, 90.25<\/p>\n

Support level: 89.60, 89.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3535. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward 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, H1: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.2260. MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher toward the resistance level at 1.2300.<\/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, H1: <\/strong>USDJPY was traded lower while currently testing the support level at 103.00. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level at 103.00.<\/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, H1: <\/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 be traded higher toward the resistance level at 0.7740.<\/p>\n

 <\/p>\n

Resistance level: 0.7740, 0.7785<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.7170. MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher toward 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, H1: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2770. MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower 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, H1: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.8820. MACD which illustrated diminishing bullish 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, H1: <\/strong>Crude oil price was traded higher following pr support level at 47.90. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 48.15.<\/p>\n

 <\/p>\n

Resistance level: 48.15, 48.65<\/p>\n

Support level: 47.10, 46.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the support level at1936.85. MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher toward the resistance level at 1950.00.<\/p>\n

 <\/p>\n

Resistance level: 1950.00, 1958.70<\/p>\n

Support level: 1936.85, 1923.00<\/p>\n","protected":false},"excerpt":{"rendered":"

05 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar surged amid heightening of market uncertainties. Dollar index which gauges its value against a basket of six major currencies spiked amid rising of market concerns over the resurgence of mutated virus in UK. According to the Worldometer Statistics, UK has reported more than 57k cases per day […]<\/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\/152092"}],"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=152092"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/152092\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=152092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=152092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=152092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}