{"id":170057,"date":"2021-04-26T03:43:05","date_gmt":"2021-04-26T03:43:05","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=170057"},"modified":"2021-04-26T03:43:05","modified_gmt":"2021-04-26T03:43:05","slug":"260421-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260421-afternoon-session-analysis\/","title":{"rendered":"260421 Afternoon Session Analysis"},"content":{"rendered":"

26 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 plummeted ahead of Thursday Fed meeting.<\/strong><\/span><\/p>\n

During late Asian session, the dollar index which traded against a basket of six major currency pairs failed to recoup from its losses while extending its bearish trend toward the lowest level in 2 months as market participants are expecting US Central Bank to remain their expansionary monetary policy. Prior to now, Federal Reserve Chairman Jerome Powell kept repeating that they will maintain their cash rate at low level, any adjustment could be seen only when the inflation rate surge above their targeted rate while employment market has fully recovered from the fallout of pandemic. Moreover, investors are also betting that Fed Powell will shun talk of tapering bond purchases at the policy meeting this week as it is still premature to decide before the pandemic is fully reined. With the expectation of neutral-titled statement from Fed, investors chose to temporarily avoid from dollar index and shifted their capital into other market with higher return such as pound and euro. As of writing, the dollar index depreciated by 0.16% to 90.70.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fall by 0.16% to $61.88 per barrel as of writing following the talks on the Iranian nuclear deal in Vienna hit more positive notes on last week. Besides, the negotiator from Tehran and Washington commented that they will continue indirect negotiations in the hope of reviving the 2015 accord. Besides, the gold prices ticked up by 0.25% to $1781.50 per troy ounce amid weakening of dollar index.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 German Ifo Business Climate (Apr)<\/td>\n93.0<\/td>\n94.4<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM)(Mar)<\/td>\n-0.9%<\/td>\n1.6%<\/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 following prior breakout below the previous support le el at 90.80. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 90.15.<\/p>\n

 <\/p>\n

Resistance level: 90.80, 91.25<\/p>\n

Support level: 90.15, 89.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3915. 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: 1.3915, 1.4010<\/p>\n

Support level: 1.3815, 1.3690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.2095. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward the resistance level at 1.2170.<\/p>\n

 <\/p>\n

Resistance level: 1.2170, 1.2225<\/p>\n

Support level: 1.2095, 1.2035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level at 107.75. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 108.50, 109.25<\/p>\n

Support level: 107.75, 106.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7710. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7800.<\/p>\n

 <\/p>\n

Resistance level: 0.7800, 0.7880<\/p>\n

Support level: 0.7710, 0.7660<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7225. 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: 0.7225, 0.7315<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2470. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2385.<\/p>\n

 <\/p>\n

Resistance level: 1.2470, 1.2540<\/p>\n

Support level: 1.2385, 1.2300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9130. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9220, 0.9305<\/p>\n

Support level: 0.9130, 0.9040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 62.20. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 62.20, 63.70<\/p>\n

Support level: 60.85, 59.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1772.85. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1810.50, 1850.40<\/p>\n

Support level: 1772.85, 1752.60<\/p>\n

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

26 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 plummeted ahead of Thursday Fed meeting. During late Asian session, the dollar index which traded against a basket of six major currency pairs failed to recoup from its losses while extending its bearish trend toward the lowest level in 2 months as market participants are expecting US […]<\/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\/170057"}],"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=170057"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/170057\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=170057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=170057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=170057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}