{"id":160391,"date":"2021-03-09T04:04:15","date_gmt":"2021-03-09T04:04:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=160391"},"modified":"2021-03-09T04:05:51","modified_gmt":"2021-03-09T04:05:51","slug":"090321-morning-session-analysis-2","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090321-morning-session-analysis-2\/","title":{"rendered":"090321 Afternoon Session Analysis"},"content":{"rendered":"

09 March 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar extend gains on rising yields and recovery.<\/strong><\/span><\/p>\n

During late Asian session, the dollar index which traded against a basket of six major currency pairs have continue to soar following higher bond yields and expectation of fast economy recovery added advantage for the greenback. U.S 10-year Treasury yields remain resilient and hovered around 1.6% as market continue to expect higher inflation and upbeat prospect for U.S economy. The expectation of faster recovery also increased following data reported about 30 million people, or 9.2% of the U.S. population have been vaccinated. On top of that, greenback sentiment was also supported by recent passing of U.S stimulus. The plan will be returned and voted in the House of Representatives on Wednesday before it is sent to U.S. President Joe Biden for signature and formal implementation. At the time of writing, dollar index rose 0.10% to 92.36.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 1.04% to $65.30 per barrel as of writing following expectation of global economic recovery that could increase fuel demand. Market focus remains on economic recovery as U.S. Treasury Secretary Janet Yellen stated on Monday that President Joe Biden’s $1.9 trillion coronavirus aid package will provide enough resources to fuel a “very strong” U.S. economic recovery. On the other hand, gold price slips 0.11% to $1686.53 a troy ounce at the time of writing amid rising dollar strength.<\/p>\n

\u00a0<\/u><\/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 Market\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 Market\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 CrudeOIL\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\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 92.10. However, MACD which illustrated diminishing bullish momentum suggest the index to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 92.60, 93.00<\/p>\n

Support level: 92.10, 91.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat near the resistance level at 1.3845. 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: 1.3845, 1.3945<\/p>\n

Support level: 1.3755, 1.3625<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1830. However, MACD which illustrated diminishing bearish momentum suggest the pair to undergo technical correction in short term toward higher level.<\/p>\n

 <\/p>\n

Resistance level: 1.1890, 1.1950<\/p>\n

Support level: 1.1830, 1.1755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 109.15. MACD which illustrated bullish bias momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 109.15, 109.65<\/p>\n

Support level: 108.55, 107.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the support level at 0.7660. However, MACD which illustrated diminishing bearish momentum suggest the pair to undergo technical correction in short term toward higher level.<\/p>\n

 <\/p>\n

Resistance level: 0.7660, 0.7730<\/p>\n

Support level: 0.7600, 0.7560<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.7105. However, MACD which illustrated diminishing bearish momentum suggest the pair to undergo technical rebound in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.7165, 0.7225<\/p>\n

Support level: 0.7105, 0.7075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2685. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 1.2610.<\/p>\n

 <\/p>\n

Resistance level: 1.2685, 1.2770<\/p>\n

Support level: 1.2610, 1.2555<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9370. However, MACD which illustrated diminishing bullish momentum suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.9370, 0.9430<\/p>\n

Support level: 0.9290, 0.9225<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 64.55. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 66.10.<\/p>\n

 <\/p>\n

Resistance level: 66.10, 67.70<\/p>\n

Support level: 64.55, 63.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the bottom level of downward channel. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains in short term.<\/p>\n

 <\/p>\n

Resistance level: 1694.05, 1712.45<\/p>\n

Support level: 1666.70, 1637.45<\/p>\n","protected":false},"excerpt":{"rendered":"

09 March 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar extend gains on rising yields and recovery. During late Asian session, the dollar index which traded against a basket of six major currency pairs have continue to soar following higher bond yields and expectation of fast economy recovery added advantage for the greenback. U.S 10-year Treasury yields […]<\/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\/160391"}],"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=160391"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/160391\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=160391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=160391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=160391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}