{"id":172036,"date":"2021-05-05T03:59:14","date_gmt":"2021-05-05T03:59:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=172036"},"modified":"2021-05-05T03:59:14","modified_gmt":"2021-05-05T03:59:14","slug":"050521-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/050521-afternoon-session-analysis\/","title":{"rendered":"050521 Afternoon Session Analysis"},"content":{"rendered":"

05 May 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

Pound rose following positive data.<\/strong><\/span><\/p>\n

During late Asian session, the pound sterling which traded against the greenback and other currency pairs have jumped following recent release of upbeat data. According to Markit Economics, Manufacturing PMI have further improved to 60.9, higher than market expectation of 60.7. The results in the manufacturing sector have reached its highest level since July 1994. Thus, the positive data have raised the appeal of pound sterling. On top of that, expectation of economy reopening in the U.K also continue to support the pound sterling as the U.K is expected to reopen all sectors of economy in mid-May following efficient vaccination progress and falling COVID-19 cases. At the time of writing, pound sterling rose 0.09% to 1.3908.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price soars 0.36% to 66.35 per barrel as of writing following optimism toward global oil demand. The U.S. is setting a new target of 70% of U.S. adults receiving at least one Covid-19 vaccine shot by July 4, while British Prime Minister Boris Johnson stated that his country\u2019s lockdown rules are will be scrapped in seven weeks, offsetting concerns about weaker demand in parts of virus-hit Asia, including key importer India. On the other hand, gold price rebounds 0.13% to $1780.98 a troy ounce at the time of writing following dollar retreat.<\/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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20:15<\/td>\nUSD – ADP Nonfarm Employment Change (Apr)<\/td>\n517K<\/td>\n815K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Non-Manufacturing PMI (Apr)<\/td>\n63.7<\/td>\n64.3<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n0.090M<\/td>\n–<\/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 lower following prior retracement from the resistance level at 91.30. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward support level at 90.80.<\/p>\n

 <\/p>\n

Resistance level: 91.30, 91.70<\/p>\n

Support level: 90.80, 90.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3910. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3910, 1.4000<\/p>\n

Support level: 1.3800, 1.3755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.2055. 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: 1.2055, 1.2130<\/p>\n

Support level: 1.1985, 1.1920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level at 109.20. 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: 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 0.7755.<\/p>\n

 <\/p>\n

Resistance level: 0.7755, 0.7815<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently near the support level at 0.7110. 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: 0.7235, 0.7320<\/p>\n

Support level: 0.7110, 0.7015<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2260. 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: 1.2410, 1.2620<\/p>\n

Support level: 1.2260, 1.2140<\/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 be traded higher in short-term as technical correction.<\/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 higher while currently testing the resistance level at 66.20. 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: 66.20, 67.60<\/p>\n

Support level: 64.80, 63.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded within a range while currently testing the resistance level at 1794.40. MACD which illustrated increasing bearish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1794.40, 1853.30<\/p>\n

Support level: 1745.35, 1684.45<\/p>\n

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

05 May 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 Pound rose following positive data. During late Asian session, the pound sterling which traded against the greenback and other currency pairs have jumped following recent release of upbeat data. According to Markit Economics, Manufacturing PMI have further improved to 60.9, higher than market expectation of 60.7. The results in […]<\/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\/172036"}],"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=172036"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/172036\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=172036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=172036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=172036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}