{"id":154703,"date":"2021-02-02T03:58:25","date_gmt":"2021-02-02T03:58:25","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=154703"},"modified":"2021-02-02T03:58:25","modified_gmt":"2021-02-02T03:58:25","slug":"020221-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/020221-afternoon-session-analysis\/","title":{"rendered":"020221 Afternoon Session Analysis"},"content":{"rendered":"

02 February 2021\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 Afternoon Session Analysis<\/strong><\/p>\n

Euro remains pressured following vaccine woes.<\/strong><\/span><\/p>\n

During late Asian session, the euro which traded against the dollar and other currency pairs have fell following growing crisis over vaccine supply shortages in the EU. Following latest development, France and Germany have threaten to take legal action against AstraZeneca over a shortage of deliveries of coronavirus vaccines even as an inspection of a plant in Belgium confirmed the company\u2019s claims of production problems. With the shortage of vaccine and slow vaccination rollout, Europe still don\u2019t have any contingency plan to resolve the slowdown issue of the vaccination process and it resulted in a continuous decline in optimism towards economic recovery in the EU. On the other hand, IMF have cut its growth expectations for the EU region by 1 percentage point to 4.2% this year and does not expect the euro area economy to return to end-of-2019 growth levels before the end of 2022. This have added further pressure for the pair and dragging the value further down. At the time of writing, EUR\/USD sips 0.03% to 1.2079.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price soars 1.12% to $54.10 per barrel as of writing following demand recovery hopes. Saudi Aramco estimates that demand will return to pre-COVID-19 levels later in the year, adding that it is confident the worst of the pandemic is now over. At the same time, output cut from Saudi Arabia also continue to support the price. Next, gold price edge lower 0.25% to $1855.93 a troy ounce amid dollar strength.<\/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\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was lower following prior retracement from the resistance level at 90.90. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward support level at 90.45.<\/p>\n

 <\/p>\n

Resistance level: 90.90, 91.35<\/p>\n

Support level: 90.45, 90.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3665. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3740.<\/p>\n

 <\/p>\n

Resistance level: 1.3740, 1.3795<\/p>\n

Support level: 1.3665, 1.3610<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.2065. 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: 1.2165, 1.2215<\/p>\n

Support level: 1.2065, 1.1985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level at 105.00. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 105.00, 105.35<\/p>\n

Support level: 104.50, 103.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently near the resistance level at 0.7670. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 0.7615, 0.7565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.7165. 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: 0.7235, 0.7305<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2865. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2780.<\/p>\n

 <\/p>\n

Resistance level: 1.2865, 1.2925<\/p>\n

Support level: 1.2770, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently near the resistance level at 0.8980. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.8980, 0.9040<\/p>\n

Support level: 0.8920, 0.8845<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the resistance level at 53.70. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 55.60.<\/p>\n

 <\/p>\n

Resistance level: 55.60, 57.10<\/p>\n

Support level: 53.70, 52.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1875.95. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1847.30.<\/p>\n

 <\/p>\n

Resistance level: 1875.95, 1892.60<\/p>\n

Support level: 1847.30, 1824.50<\/p>\n

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

02 February 2021\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 Afternoon Session Analysis Euro remains pressured following vaccine woes. During late Asian session, the euro which traded against the dollar and other currency pairs have fell following growing crisis over vaccine supply shortages in the EU. Following latest development, France and Germany have threaten to take legal action against AstraZeneca over a […]<\/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\/154703"}],"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=154703"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/154703\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=154703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=154703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=154703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}