{"id":157589,"date":"2021-02-23T04:52:43","date_gmt":"2021-02-23T04:52:43","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=157589"},"modified":"2021-02-23T04:52:43","modified_gmt":"2021-02-23T04:52:43","slug":"230221-afternon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/230221-afternon-session-analysis\/","title":{"rendered":"230221 Afternon Session Analysis"},"content":{"rendered":"

23 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

Pound soars as UK loosen restriction.<\/strong><\/span><\/p>\n

During late Asian session, the pound sterling which traded against the greenback and other currency pairs continue to extend its gains following announcement of COVID-19 lockdown exit strategy from Boris Johnson. According to reports, UK Prime Minister Boris Johnson stated that the coronavirus epidemic prevention and control plan is divided into 4 phases and each phase lasted for 5 weeks to ensure that the trend of the epidemic spread steadily decline. In the first phase, all schools will be reopened, and recreational activities in public places will be slowly reopen, with no more than 2 people per group. Most economic sectors will only be allowed to reopen in the second phase beginning on April 12. He stated that all social restrictions that imposed due to Covid-19 could be lifted by June 21 at the earliest. As a result, investors are more optimistic towards U.K economy in the months ahead. At the time of writing, GBP\/USD rose 0.10% to 1.4073.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price soars 0.87% to $62.64 per barrel as of writing following slow output return. According to reports, oil producers in Texas could take at least two weeks to restart the of crude output of more than 2 million barrels per day (bpd) that shut down as frozen pipes and power supply interruptions due to cold weather slowing their recovery, On the other hand, gold price edge higher 0.23% to $1813.54 a troy ounce at the time of writing amid 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

23:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Testifies<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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 Average Earning Index + Bonus (Dec)<\/td>\n3.6%<\/td>\n4.1%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nGBP \u2013 Claimant Count Change (Jan)<\/td>\n7.0K<\/td>\n35.0K<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 CPI (YoY)(Jan)<\/td>\n0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 CB Consumer Confidence (Feb)<\/td>\n89.3<\/td>\n90.0<\/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 breakout below the previous support level at 90.15. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 89.60.<\/p>\n

 <\/p>\n

Resistance level: 90.15, 90.85<\/p>\n

Support level: 89.60, 89.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.4085. 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: 1.4085, 1.4175<\/p>\n

Support level: 1.3955, 1.3855<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

Support level: 1.2110, 1.2065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level at 104.95. 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: 105.65, 106.00<\/p>\n

Support level: 104.95, 104.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7940. MACD which increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7880.<\/p>\n

 <\/p>\n

Resistance level: 0.7940, 0.7980<\/p>\n

Support level: 0.7880, 0.7800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Weekly: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7335. 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: 0.7335, 0.7510<\/p>\n

Support level: 0.7155, 0.6890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2595. 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: 1.2690, 1.2770<\/p>\n

Support level: 1.2595, 1.2540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.8980. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.8925.<\/p>\n

 <\/p>\n

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

Support level: 0.8925, 0.8845<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 62.55. 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: 62.55, 64.40<\/p>\n

Support level: 58.90, 55.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently near the resistance level at 1818.80. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1818.80, 1844.50<\/p>\n

Support level: 1788.40, 1764.10<\/p>\n

 <\/p>\n

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

23 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 Pound soars as UK loosen restriction. During late Asian session, the pound sterling which traded against the greenback and other currency pairs continue to extend its gains following announcement of COVID-19 lockdown exit strategy from Boris Johnson. According to reports, UK Prime Minister Boris Johnson stated that the coronavirus […]<\/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\/157589"}],"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=157589"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/157589\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=157589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=157589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=157589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}