{"id":174190,"date":"2021-05-19T05:46:12","date_gmt":"2021-05-19T05:46:12","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=174190"},"modified":"2021-05-19T05:46:12","modified_gmt":"2021-05-19T05:46:12","slug":"190521-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/190521-afternoon-session-analysis\/","title":{"rendered":"190521 Afternoon Session Analysis"},"content":{"rendered":"

19 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

 <\/p>\n

Euro gains on easing lockdowns.<\/strong><\/span><\/p>\n

During late Asian session, the Euro which traded against the greenback and other currency pairs remain resilient and rose as COVID-19 cases in Europe continue to fell and prompt EU countries to ease lockdowns. According to the latest development, EU ambassadors are expected to sign off a plan to allow fully vaccinated individuals to fly to Europe without being required to undergo a Covid test or quarantine. Besides that, countries such as France and Germany also started to relaxed their lockdowns following COVID-19 cases fell below a key threshold. Market expected that such actions can help revive the momentum of economic recovery for the near term, thus boosting the demand for the Euro. At the time of writing, EUR\/USD rose 0.10% to 1.2230.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price plunged 0.75% to $64.80 per barrel at the time of writing following concerns of Iranian supply return. The oil markets continue to be pressured following reported progress on talks between the United States and Iran to revive a deal limiting its nuclear program, which could lead to a lifting of sanctions and a resurgence of Iranian oil exports. On the other hand, gold price rose 0.09% to $1868.95 amid ongoing dollar weakness.<\/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

02:00 (20th<\/sup>)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Meeting Minutes<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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 – CPI (YoY) (Apr)<\/td>\n0.7%<\/td>\n1.4%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR – CPI (YoY) (Apr)<\/td>\n1.6%<\/td>\n1.6%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD – Core CPI (MoM) (Apr)<\/td>\n0.3%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-0.427M<\/td>\n–<\/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 level 89.80. MACD which illustrate ongoing bearish momentum signal suggest the dollar to extend its losses towards the support level 89.25.<\/p>\n

 <\/p>\n

Resistance level: 89.80, 90.45<\/p>\n

Support level: 89.25, 88.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat near the support level 1.4165. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower after it breaks below the support level 1.4165.<\/p>\n

 <\/p>\n

Resistance level: 1.4280, 1.4395<\/p>\n

Support level: 1.4165, 1.4100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level 1.2230. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a short-term technical correction towards the support level 1.2180.<\/p>\n

 <\/p>\n

Resistance level: 1.2230, 1.2290<\/p>\n

Support level: 1.2180, 1.2130<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level 109.05. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 108.45.<\/p>\n

 <\/p>\n

Resistance level: 109.05, 109.75<\/p>\n

Support level: 108.45, 107.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level 0.7805. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.7760.<\/p>\n

 <\/p>\n

Resistance level: 0.7805, 0.7860<\/p>\n

Support level: 0.7760, 0.7700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level 0.7725. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7280, 0.7330<\/p>\n

Support level: 0.7225, 0.7145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level 1.2030. MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 1.2135.<\/p>\n

 <\/p>\n

Resistance level: 1.2135, 1.2270<\/p>\n

Support level: 1.2030, 1.1915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support level 0.8950. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9020, 0.9080<\/p>\n

Support level: 0.8950, 0.8880<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing near the support level 64.25. MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 66.60, 67.85<\/p>\n

Support level: 64.25, 62.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded flat near the support level 1863.25. MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1877.00, 1894.55<\/p>\n

Support level: 1863.25, 1846.00<\/p>\n","protected":false},"excerpt":{"rendered":"

19 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   Euro gains on easing lockdowns. During late Asian session, the Euro which traded against the greenback and other currency pairs remain resilient and rose as COVID-19 cases in Europe continue to fell and prompt EU countries to ease lockdowns. According to the latest development, EU ambassadors are expected […]<\/p>\n","protected":false},"author":54,"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\/174190"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=174190"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/174190\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=174190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=174190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=174190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}