{"id":160943,"date":"2021-03-11T03:56:59","date_gmt":"2021-03-11T03:56:59","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=160943"},"modified":"2021-03-11T03:56:59","modified_gmt":"2021-03-11T03:56:59","slug":"110321-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/110321-afternoon-session-analysis\/","title":{"rendered":"110321 Afternoon Session Analysis"},"content":{"rendered":"

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

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Aussie dips following mixed signals.<\/strong><\/span><\/p>\n

During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell amid mixed catalyst in Australia such as fear of mass unemployment. As Australia governments wage subsidy program Jobkeeper is set to expire this month, market fears that at least 300,000 jobs will be lost. On top of that, soaring house prices in Sydney also weigh on the sentiment. According to data, Sydney house price have official broke past its previous 2017 peak. However, losses may be limited following upbeat data. Aussie Consumer Inflation Expectation grew 4.1%, higher than market expectation of 3.5%. Also, on the positive side was Aussie government announced A$1.2 billion package to boost tourism and travelling industry which could help recover economy. At the time of writing, AUD\/USD dips 0.02% to 0.7727.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.45% to $64.92 per barrel as of writing following positive economic outlook. The U.S. House of Representatives gave final approval on Wednesday to one of the largest economic stimulus measures. The stimulus is expected to help speeding economic recovery in U.S and bolstered demand for crude oil in near term. On the other hand, gold price rose 0.27% to $1731.45 a troy ounce at the time of writing following weakness in greenback.<\/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

21:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB Press Conference<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
20:45<\/td>\nEUR – ECB Interest Rate Decision (Mar)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n745K<\/td>\n725K<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – JOLTs Job Openings (Jan)<\/td>\n6.646M<\/td>\n6.500M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the upward trendline. MACD which illustrated bearish bias momentum suggest the index to extend its losses toward the support level at 91.55.<\/p>\n

 <\/p>\n

Resistance level: 92.10, 92.60<\/p>\n

Support level: 91.55, 90.90<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3945. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3945, 1.4085<\/p>\n

Support level: 1.3845, 1.3755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1890. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.1950.<\/p>\n

 <\/p>\n

Resistance level: 1.1950, 1.2025<\/p>\n

Support level: 1.1890, 1.1830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 108.50. However, MACD which illustrated bearish bias momentum signal suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 108.50, 109.15<\/p>\n

Support level: 107.85, 107.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7730. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.7730.<\/p>\n

 <\/p>\n

Resistance level: 0.7730, 0.7780<\/p>\n

Support level: 0.7660, 0.7600<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7175. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.7225.<\/p>\n

 <\/p>\n

Resistance level: 0.7225, 0.7290<\/p>\n

Support level: 0.7175, 0.7105<\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2610. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level.<\/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 following prior rebound from the support level at 0.9280. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9370.<\/p>\n

 <\/p>\n

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

Support level: 0.9280, 0.9225<\/p>\n

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 64.55. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after its candle successfully closed above the resistance level at 64.55.<\/p>\n

 <\/p>\n

Resistance level: 64.55, 66.10<\/p>\n

Support level: 63.70, 62.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the resistance level at 1718.15. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 1738.10.<\/p>\n

 <\/p>\n

Resistance level: 1738.10, 1765.20<\/p>\n

Support level: 1718.15, 1694.30<\/p>\n","protected":false},"excerpt":{"rendered":"

11 March 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Aussie dips following mixed signals. During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have fell amid mixed catalyst in Australia such as fear of mass unemployment. As Australia governments wage subsidy program Jobkeeper is set to expire this month, market […]<\/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\/160943"}],"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=160943"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/160943\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=160943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=160943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=160943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}