{"id":158144,"date":"2021-02-25T04:05:36","date_gmt":"2021-02-25T04:05:36","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=158144"},"modified":"2021-02-25T04:05:36","modified_gmt":"2021-02-25T04:05:36","slug":"250221-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250221-afternoon-session-analysis\/","title":{"rendered":"250221 Afternoon Session Analysis"},"content":{"rendered":"

25 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 extend gains following reports of faster lockdown exit.<\/strong><\/span><\/p>\n

During late Asian session, the pound sterling which traded against the dollar and other currency pairs have rose following reports of UK to exit from lockdown could be faster. According to reports from the Telegraph, U.K.\u2019s exit from lockdown could be accelerated if data on the effect of vaccines proves better than expected. According to the Bloomberg\u2019s tracker, U.K. has administered more than 27 doses per 100 people. Compared to EU, the data outpaces the nation by six doses. The expectation of strong UK vaccine rollout will allow UK to reopen economy quicker than other countries continue to increase market confidence and boosting the price for the pair. At the time of writing, GBP\/USD rose 0.06% to 1.4135.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.11% to $63.42 per barrel as of writing following ongoing optimism on demand recovery. Despite with EIA reported a build in inventories recently, the market was unfazed and supported by latest vaccine news. According to a study published in NEJM, Pfizer’s Covid-19 vaccine has been 92% effective against severe cases of Covid-19 after two doses and 94% effective in preventing symptomatic cases after two doses. On the other hand, gold price slips 0.43% to $1797.09 a troy ounce at the time of writing amid dollar rebound.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM)(Jan)<\/td>\n1.1%<\/td>\n0.7%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 GDP (QoQ)(Q4)<\/td>\n4.0%<\/td>\n4.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n861K<\/td>\n838K<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Pending Home Sales Index (Jan)<\/td>\n125.5<\/td>\n–<\/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 while currently testing the support level at 90.00. However, MACD which illustrated diminishing bullish momentum suggest the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 90.90, 91.50<\/p>\n

Support level: 90.00, 89.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.4085. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.4175.<\/p>\n

 <\/p>\n

Resistance level: 1.4175, 1.4240<\/p>\n

Support level: 1.4085, 1.3955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.2165. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/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 higher while currently testing the resistance level at 106.00. 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: 106.00, 106.50<\/p>\n

Support level: 105.65, 104.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7985. 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: 0.7985, 0.8105<\/p>\n

Support level: 0.7860, 0.7770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7385. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7510.<\/p>\n

 <\/p>\n

Resistance level: 0.7510, 0.7660<\/p>\n

Support level: 0.7385, 0.7260<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2615. However, MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2460.<\/p>\n

 <\/p>\n

Resistance level: 1.2615, 1.2720<\/p>\n

Support level: 1.2460, 1.2300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9045. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9145.<\/p>\n

 <\/p>\n

Resistance level: 0.9145, 0.9280<\/p>\n

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

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 62.55. 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: 64.40, 66.45<\/p>\n

Support level: 62.55, 60.95<\/p>\n

 <\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1788.40. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1816.05, 1844.50<\/p>\n

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

 <\/p>\n

 <\/p>\n

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

25 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 extend gains following reports of faster lockdown exit. During late Asian session, the pound sterling which traded against the dollar and other currency pairs have rose following reports of UK to exit from lockdown could be faster. According to reports from the Telegraph, U.K.\u2019s exit from lockdown could […]<\/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\/158144"}],"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=158144"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/158144\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=158144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=158144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=158144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}