{"id":171431,"date":"2021-05-03T03:46:41","date_gmt":"2021-05-03T03:46:41","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=171431"},"modified":"2021-05-03T03:46:41","modified_gmt":"2021-05-03T03:46:41","slug":"030521-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030521-afternoon-session-analysis\/","title":{"rendered":"030521 Afternoon Session Analysis"},"content":{"rendered":"

3 May 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\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Euro slumped amid downbeat GDP data.<\/strong><\/span><\/p>\n

The Euro was traded lower over the backdrop of bearish economic data from Germany region on last Friday. According to Statistisches Bundesamt Deutsche, Germany Gross Domestic Product (GDP) for last quarter had notched down significantly from the previous reading of 0.5% to -1.7%, worse than the market forecast at -1.5%. Such worse-than-expected crucial economic data had dialed down the market optimism toward the economic progression in European region, which spurring bearish momentum on the Euro. Nonetheless, the vaccination progress finally gain traction in Italy and elsewhere in the European Union, and Italian authorities had gradually reopened the economy. In Italy, the week through 25th<\/sup> April saw a 12% increase in vaccination rate compared with the previous period, with 2.4 million people receiving a shot. European official now expects 70% of adult population to be vaccinated by July. In Germany, more than 1.1 million people were vaccinated on Wednesday alone, setting a new daily record. The positive prospect for the vaccination progress had limited the losses experienced by the Euro. As of writing, EUR\/USD appreciated by 0.02% to 1.2025.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.04% to $63.50 per barrel as of writing amid spiking numbers of the Covid-19 cases in India had weighed down the market sentiment toward the crude oil demand in future. On the other hand, the gold price depreciated by 0.22% to $1777.40 per troy ounces as of writing amid strengthening US Dollar following the Federal Reserve Kaplan unleashed his hawkish statement.<\/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
15:55<\/td>\nEUR – German Manufacturing PMI (Apr)<\/td>\n66.4<\/td>\n66.4<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Manufacturing PMI (Apr)<\/td>\n64.7<\/td>\n65.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\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 91.30. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 91.30, 92.00<\/p>\n

Support level: 90.80, 90.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3805. 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: 1.3905, 1.4000<\/p>\n

Support level: 1.3805, 1.3755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.2055. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1995.<\/p>\n

 <\/p>\n

Resistance level: 1.2055, 1.2130<\/p>\n

Support level: 1.1995, 1.1920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 109.20. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 109.90.<\/p>\n

 <\/p>\n

Resistance level: 109.90, 110.80<\/p>\n

Support level: 109.20, 108.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7695. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.7740.<\/p>\n

 <\/p>\n

Resistance level: 0.7740, 0.7815<\/p>\n

Support level: 0.7695, 0.7655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.7270. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.7110.<\/p>\n

 <\/p>\n

Resistance level: 0.7270, 0.7435<\/p>\n

Support level: 0.7110, 0.6960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2275. However, MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2390.<\/p>\n

 <\/p>\n

Resistance level: 1.2390, 1.2470<\/p>\n

Support level: 1.2275, 1.2180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently near the support level at 0.9060. However, MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.9225.<\/p>\n

 <\/p>\n

Resistance level: 0.9225, 0.9365<\/p>\n

Support level: 0.9060, 0.8910<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 63.30. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 64.80, 66.20<\/p>\n

Support level: 63.30, 61.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1794.40. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 1755.80.<\/p>\n

 <\/p>\n

Resistance level: 1794.40, 1839.25<\/p>\n

Support level: 1755.80, 1728.35<\/p>\n

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

3 May 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\u00a0 Afternoon Session Analysis Euro slumped amid downbeat GDP data. The Euro was traded lower over the backdrop of bearish economic data from Germany region on last Friday. According to Statistisches Bundesamt Deutsche, Germany Gross Domestic Product (GDP) for last quarter had notched down significantly from the previous reading of 0.5% to -1.7%, […]<\/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\/171431"}],"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=171431"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/171431\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=171431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=171431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=171431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}