{"id":152691,"date":"2021-01-12T04:03:30","date_gmt":"2021-01-12T04:03:30","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=152691"},"modified":"2021-01-12T04:03:30","modified_gmt":"2021-01-12T04:03:30","slug":"120121-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120121-afternoon-session-analysis\/","title":{"rendered":"120121 Afternoon Session Analysis"},"content":{"rendered":"

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

Dollar surged over the rising treasury yields.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs extend its gains amid the recent spike in U.S. Treasury yields and positive prospect of the U.S. economic with the expectation on higher U.S. fiscal stimulus. A sharp gain in U.S. yields had prompted investors to shift their portfolio from other region into United States, insinuating market demand on the US Dollar. Market participants remained confident over the President-elect Joe Biden, who takes office on 20th<\/sup> January 2021 with the Democrats power to control both houses of Congress would able to boost up the economic momentum in the United States. Besides, US Dollar extend its gains following the investors expected that the U.S. policymakers would slowdown the bond buying program by the end of 2021. According to Reuters, Chicago Fed President Charles Evans and Atlanta\u2019s Raphael Bostic, said last week that they might agree to reduce the pace of bond buying by the year-end if the economy rebounded significantly. Lower bond buying process would be decreasing the money supply in circulation, which spurring further bullish momentum for the US Dollar. As of writing, the Dollar Index appreciated by 0.13% to 90.50.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.13% to $52.20 per barrel as of writing. The oil price extends its gains amid hopes upon the Covid-19 vaccines development had spurred positive prospect for the crude oil demand in future. On the other hand, the gold price depreciated by 0.10% to $1845.65 per troy ounces as of writing amid strengthening US Dollar.<\/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\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

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

20.00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\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 EIA Short-Term Energy Outlook<\/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
23.00<\/td>\nUSD \u2013 JOLTs Job Openings (Nov)<\/td>\n6.652M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level at 90.50. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 90.50, 90.95<\/p>\n

Support level: 89.75, 89.30<\/p>\n

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level 1.3480. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.3555.<\/p>\n

 <\/p>\n

Resistance level: 1.3555, 1.3650<\/p>\n

Support level: 1.3480, 1.3400<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.2160. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2210, 1.2210<\/p>\n

Support level: 1.2105, 1.2060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 104.30. 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: 104.30, 104.65<\/p>\n

Support level: 103.85, 103.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7665. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.7735.<\/p>\n

 <\/p>\n

Resistance level: 0.7735, 0.7770<\/p>\n

Support level: 0.7665, 0.7610<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Weekly: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.7110. 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: 0.7320, 0.7555<\/p>\n

Support level: 0.7110, 0.6915<\/p>\n

 <\/p>\n

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USDCAD, H1: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2765. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.2795.<\/p>\n

 <\/p>\n

Resistance level: 1.2795, 1.2830<\/p>\n

Support level: 1.2765, 1.2720<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.8915. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the support level 0.8765.<\/p>\n

 <\/p>\n

Resistance level: 0.8915, 0.8980<\/p>\n

Support level: 0.8825, 0.8765<\/p>\n

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 52.45. However, MACD which illustrated increasing bearish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 52.45, 56.10<\/p>\n

Support level: 49.35, 47.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1850.25. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1850.25, 1861.10<\/p>\n

Support level: 1837.40, 1817.80<\/p>\n

 <\/p>\n

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

12 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Dollar surged over the rising treasury yields. The Dollar Index which traded against a basket of six major currency pairs extend its gains amid the recent spike in U.S. Treasury yields and positive prospect of the U.S. economic with the expectation on higher U.S. fiscal stimulus. A sharp gain […]<\/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\/152691"}],"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=152691"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/152691\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=152691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=152691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=152691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}