{"id":153752,"date":"2021-01-22T04:15:02","date_gmt":"2021-01-22T04:15:02","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=153752"},"modified":"2021-01-22T04:15:02","modified_gmt":"2021-01-22T04:15:02","slug":"220121-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220121-afternoon-session-analysis\/","title":{"rendered":"220121 Afternoon Session Analysis"},"content":{"rendered":"

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

Aussie slips amid weak data.<\/strong><\/span><\/p>\n

During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell following the release of a weaker-than-expected Retail Sales data recently. According to the Australian Bureau of Statistic, Australia\u2019s consumer spending which is represented by Retail Sales have fell by 4.2% in December, lower than market expectation for a 1.5% drop and previous reading of 7.1%. The decline in consumer spending in the holiday season have raise doubts on the strength of recovery from coronavirus and support the RBA\u2019s dovish stance, thus exerting pressure for the pair. At the time of writing, AUD\/USD fell 0.21% to 0.7744.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 1.34% to $52.23 per barrel as of writing following worries on new COVID-19 cases in China. Following latest development, the commercial hub of Shanghai reported its first locally transmitted cases in two months on Thursday. Concerns towards new pandemic restrictions in China due to rising new cases will curb fuel demand in the world’s biggest oil importer, thus dragging the value of the commodity. On the other hand, gold price remains steady and edge higher 0.12% to $1861.65 a troy ounce at the time of writing following ongoing dollar weakness.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\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
15:00<\/td>\nGBP \u2013 Retail Sales (MoM)(Dec)<\/td>\n-3.8%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nEUR \u2013 German Manufacturing PMI (Jan)<\/td>\n58.3<\/td>\n57.5<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Composite PMI (Jan)<\/td>\n50.7<\/td>\n50.7<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing PMI (Jan)<\/td>\n57.3<\/td>\n57.3<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Services PMI (Jan)<\/td>\n49.9<\/td>\n49.9<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Core Retail Sales (MoM)(Nov)<\/td>\n1.0%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Existing Home Sales(Dec)<\/td>\n6.69M<\/td>\n6.55M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following retracement from the resistance level at 90.45. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 89.80.<\/p>\n

 <\/p>\n

Resistance level: 90.45, 90.90<\/p>\n

Support level: 89.80, 89.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded within a range while currently testing the support level at 1.3685. MACD which illustrated diminishing bearish momentum suggest the pair to be traded lower after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3795, 1.3860<\/p>\n

Support level: 1.3685, 1.3625<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.2145. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2215.<\/p>\n

 <\/p>\n

Resistance level: 1.2215, 1.2310<\/p>\n

Support level: 1.2145, 1.2075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 103.40. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 103.65.<\/p>\n

 <\/p>\n

Resistance level: 103.65, 104.15<\/p>\n

Support level: 103.40, 103.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7735. 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: 0.7785, 0.7815<\/p>\n

Support level: 0.7735, 0.7670<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7165. 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: 0.7235, 0.7305<\/p>\n

Support level: 0.7165, 0.7110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2640. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.2720.<\/p>\n

 <\/p>\n

Resistance level: 1.2720, 1.2805<\/p>\n

Support level: 1.2640, 1.2545<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.8845. 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: 0.8920, 0.8980<\/p>\n

Support level: 0.8845, 0.8800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 53.70. MACD which illustrated increasing bearish suggest the commodity to extend its losses toward support level at 51.95<\/p>\n

 <\/p>\n

Resistance level: 53.70, 55.65<\/p>\n

Support level: 51.95, 50.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded within a range while currently testing the support level at 1861.20. MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1899.95, 1931.00<\/p>\n

Support level: 1861.20, 1827.50<\/p>\n","protected":false},"excerpt":{"rendered":"

22 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Aussie slips amid weak data. During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell following the release of a weaker-than-expected Retail Sales data recently. According to the Australian Bureau of Statistic, Australia\u2019s consumer spending which is represented by Retail Sales […]<\/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\/153752"}],"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=153752"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/153752\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=153752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=153752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=153752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}