{"id":155413,"date":"2021-02-09T05:12:42","date_gmt":"2021-02-09T05:12:42","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=155413"},"modified":"2021-02-09T05:12:42","modified_gmt":"2021-02-09T05:12:42","slug":"090221-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090221-afternoon-session-analysis\/","title":{"rendered":"090221 Afternoon Session Analysis"},"content":{"rendered":"

09 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

Dollar pressured following doubts over U.S recovery.<\/strong><\/span><\/p>\n

During late Asian session, the dollar index which traded against a basket of six major currency pair have fell to its lowest level in a week as market starting to doubt on a fast U.S economic recovery from COVID-19. On U.S stimulus front, Biden’s US$1.9 trillion Covid-19 relief package is expected to pass through Congress before March 15 even without Republican support. The package is expected to help the U.S economy to recover in near term, however, there are worries that huge fiscal spending, alongside the continuous ultra-easy Federal Reserve monetary policy, could see the dollar decline in the long term. Investors concern that the large amount of stimulus could widen further the problem of U.S current account deficit, thus weighing heavily on the greenback. At the time of writing, dollar index fell 0.20% to 90.68.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price continues to extend gains and soars 0.55% to $58.38 per barrel as of writing over ongoing supply cuts and hopes of fuel demand recovery. Implementation of additional supply cuts from Saudi Arabia in February are helping to reduce supply and support the commodity price. Also boosting investor hopes are the continuous global rollout of COVID-19 vaccines and data suggesting that the virus has peaked in countries such as the U.S. On the other hand, gold price jumps 0.56% to $1840.45 a troy ounce at the time of writing following 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

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\u00a0 EIA Short-Term Energy Outlook<\/p>\n

 <\/p>\n

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 (Dec)<\/td>\n6.527M<\/td>\n6.500M<\/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 prior breakout below the previous support level at 90.85. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 90.45.<\/p>\n

 <\/p>\n

Resistance level: 90.85, 91.55<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3795. 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: 1.3795, 1.3860<\/p>\n

Support level: 1.3740, 1.3685<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.2065. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2150.<\/p>\n

 <\/p>\n

Resistance level: 1.2150, 1.2215<\/p>\n

Support level: 1.2065, 1.2010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 105.15. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 104.50.<\/p>\n

 <\/p>\n

Resistance level: 105.15, 105.65<\/p>\n

Support level: 104.50, 104.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7670. 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: 0.7765, 0.7815<\/p>\n

Support level: 0.7670, 0.7590<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7255. 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: 0.7255, 0.7305<\/p>\n

Support level: 0.7165, 0.7115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2770. 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: 1.2770, 1.2840<\/p>\n

Support level: 1.2690, 1.2615<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.8980. MACD which illustrated increasing bearish momentum suggest the pair to extend its gains toward support level at 0.8920.<\/p>\n

 <\/p>\n

Resistance level: 0.8980, 0.9045<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Weekly: <\/strong>Crude oil price was traded higher while currently testing the resistance level 60.30. 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: 60.30, 65.35<\/p>\n

Support level: 49.95, 41.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1833.80. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1850.40.<\/p>\n

 <\/p>\n

Resistance level: 1850.40, 1871.95<\/p>\n

Support level: 1833.80, 1819.25<\/p>\n

 <\/p>\n

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

09 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 Dollar pressured following doubts over U.S recovery. During late Asian session, the dollar index which traded against a basket of six major currency pair have fell to its lowest level in a week as market starting to doubt on a fast U.S economic recovery from COVID-19. On U.S stimulus […]<\/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\/155413"}],"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=155413"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/155413\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=155413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=155413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=155413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}