{"id":169767,"date":"2021-04-23T03:42:53","date_gmt":"2021-04-23T03:42:53","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=169767"},"modified":"2021-04-23T03:42:53","modified_gmt":"2021-04-23T03:42:53","slug":"230421-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/230421-afternoon-session-analysis\/","title":{"rendered":"230421 Afternoon Session Analysis"},"content":{"rendered":"

22 April 2021\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

 <\/p>\n

Dollar rose following plans of tax hike.<\/strong><\/span><\/p>\n

 <\/p>\n

During late Asian session, the dollar index which traded against a basket of six major currency pairs have rose following headlines of Joe Biden plans to increase capital gains tax. According to reports from Reuters, Biden is considering to raise tax rate for high-income groups from 37% to as high as 43.4%. The revenue from tax receipts will be channeled into government aid in terms of childcare, pre-kindergarten education and paid leave for employees. The plan could help reduce the burden and debt of government as well as increase the number of projects and stimulus plans for the future. Still, the proposal requires approval from Congress where the Democrats have only minority support. At the time of writing, dollar index rose 0.03% to $91.15.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price jumps 0.21% to $61.72 per barrel as of writing following hopes of demand recovery in EU and US. U.S. refiner Valero said gasoline and diesel demand were back to 93% and 100% of the levels they were at before the pandemic. Besides that, improving conditions in Europe also buoyed sentiment. France said schools would reopen on Monday and domestic travel curbs in place since early April restricting people to within 10 km (6 miles) of their homes would end on May 3. On the other hand, gold price slips 0.04% to $1786.83 a troy ounce at the time of writing following rebound in dollar.<\/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\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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Retail Sales (MoM) (Mar)<\/td>\n2.1%<\/td>\n1.5%<\/td>\n–<\/td>\n<\/tr>\n
1530<\/td>\nEUR – German Manufacturing PMI (Apr)<\/td>\n66.6<\/td>\n65.9<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Manufacturing PMI<\/td>\n58.9<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Services PMI<\/td>\n56.3<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – New Home Sales<\/td>\n775K<\/td>\n885K<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n


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

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 91.25. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward the support level at 90.95.<\/p>\n

 <\/p>\n

Resistance level: 91.25, 91.55<\/p>\n

Support level: 90.95, 90.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.3865.<\/p>\n

 <\/p>\n

Resistance level: 1.3865, 1.3910<\/p>\n

Support level: 1.3815, 1.3750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrated diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.2030.<\/p>\n

 <\/p>\n

Resistance level: 1.2030, 1.2065<\/p>\n

Support level: 1.1990, 1.1955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the upward trend line. MACD which illustrated bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the trend line.<\/p>\n

 <\/p>\n

Resistance level: 108.30, 109.20<\/p>\n

Support level: 107.65, 107.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7710. However, MACD which illustrated bearish bias momentum suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.7710, 0.7760<\/p>\n

Support level: 0.7665, 0.7565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7170.\u00a0 MACD which illustrated diminishing bearish momentum signal suggests the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7170, 0.7235<\/p>\n

Support level: 0.7110, 0.7060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2510. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 1.2510.<\/p>\n

 <\/p>\n

Resistance level: 1.2630, 1.2775<\/p>\n

Support level: 1.2510, 1.2390<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggests the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.9185, 0.9220<\/p>\n

Support level: 0.9110, 0.9030<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 61.35. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 62.55.<\/p>\n

 <\/p>\n

Resistance level: 62.55, 63.75<\/p>\n

Support level: 61.35, 59.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the upward trendline. MACD which illustrated diminishing bearish momentum signal suggest the commodity to extend its gains toward the resistance level at 1788.50.<\/p>\n

 <\/p>\n

Resistance level: 1788.50, 1803.40<\/p>\n

Support level: 1768.20, 1755.60<\/p>\n","protected":false},"excerpt":{"rendered":"

22 April 2021\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   Dollar rose following plans of tax hike.   During late Asian session, the dollar index which traded against a basket of six major currency pairs have rose following headlines of Joe Biden plans to increase capital gains tax. According to reports from Reuters, Biden is considering to raise […]<\/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\/169767"}],"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=169767"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/169767\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=169767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=169767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=169767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}