{"id":166695,"date":"2021-04-08T04:29:40","date_gmt":"2021-04-08T04:29:40","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=166695"},"modified":"2021-04-08T04:29:40","modified_gmt":"2021-04-08T04:29:40","slug":"080421-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080421-afternoon-session-analysis\/","title":{"rendered":"080421 Afternoon Session Analysis"},"content":{"rendered":"

8 April 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 Afternoon Session Analysis<\/strong><\/p>\n

Euro slips amid ongoing cautious mood.<\/strong><\/span><\/p>\n

During late Asian session, the Euro dollar which traded against the greenback and other currency pairs have fell as market remains cautious towards vaccinations issues in EU and third wave coronavirus. While EU insists on achieving a vaccination rate of more than 50% by the end of the second quarter of this year, most investors are being skeptical towards the plan. According to data released by European Centre for Disease Prevention, vaccination rates have sped up in many states, but figures still far below 80%. Third wave coronavirus in EU also continue to weigh on the sentiment where countries such as France, Italy, Germany and Spain are increasing being quarantined as of now. As of writing, EUR\/USD fell 0.03% to 1.1870.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price held steady and edge higher 0.09% to $59.52 per barrel as of writing following investors continue to weighing OPEC plans to increase production against vaccine rollout. OPEC is restoring more than 2 million barrels a day to ease productions curbs over three months to July. Despite that, sentiment also support by recent data from EIA which showed a pickup in oil demand while market awaits for more catalyst. On the other hand, gold price fell 0.08% to $1738.71 a troy ounce at the time of writing following slight recovery in dollar.<\/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

19:30\u00a0\u00a0\u00a0\u00a0\u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB Monetary Policy Statement<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:30<\/td>\nGBP \u2013 Construction PMI (Mar)<\/td>\n53.3<\/td>\n54.6<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n719K<\/td>\n680K<\/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 higher while currently testing the resistance level at 92.50. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 92.50, 92.95<\/p>\n

Support level: 91.95, 91.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3720. 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: 1.3815, 1.3895<\/p>\n

Support level: 1.3720, 1.3565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1895. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.1780.<\/p>\n

 <\/p>\n

Resistance level: 1.1890, 1.1930<\/p>\n

Support level: 1.1830, 1.1780<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 110.00. 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: 110.00, 110.75<\/p>\n

Support level: 109.20, 108.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7650. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7585.<\/p>\n

 <\/p>\n

Resistance level: 0.7650, 0.7710<\/p>\n

Support level: 0.7585, 0.7535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.7070. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6955.<\/p>\n

 <\/p>\n

Resistance level: 0.7070, 0.7140<\/p>\n

Support level: 0.6955, 0.6830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2630. 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: 1.2630, 1.2680<\/p>\n

Support level: 1.2515, 1.2460<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9305. 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: 0.9305, 0.9355<\/p>\n

Support level: 0.9225, 0.9150<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 18.15. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 62.05.<\/p>\n

 <\/p>\n

Resistance level: 62.05, 63.70<\/p>\n

Support level: 58.15, 55.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1745.10. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 1722.90.<\/p>\n

 <\/p>\n

Resistance level: 1745.10, 1759.00<\/p>\n

Support level: 1722.90, 1710.70<\/p>\n

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

8 April 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 Afternoon Session Analysis Euro slips amid ongoing cautious mood. During late Asian session, the Euro dollar which traded against the greenback and other currency pairs have fell as market remains cautious towards vaccinations issues in EU and third wave coronavirus. While EU insists on achieving a vaccination rate of more than 50% […]<\/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\/166695"}],"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=166695"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/166695\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=166695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=166695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=166695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}