{"id":175355,"date":"2021-05-25T07:08:09","date_gmt":"2021-05-25T07:08:09","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=175355"},"modified":"2021-05-25T07:08:09","modified_gmt":"2021-05-25T07:08:09","slug":"250521-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250521-afternoon-session-analysis\/","title":{"rendered":"250521 Afternoon Session Analysis"},"content":{"rendered":"

25 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

Aussie surged amid upbeat economic data.<\/strong><\/span><\/p>\n

The Australian Dollar surged over the backdrop of upbeat economic data from International Merchandise Trade Australia. The statistics mostly contains preliminary estimates of international merchandise trade, includes breakdowns of imports, exports, source and destination countries. According to the data, the overall exportation of the Australia remained resilient while the exports of goods for the month of April 2021 had increased $13 million to #35,952 million. The imports of goods in April 2021 declined $1,896m to $25,811m. A higher level of exports would enhance the trade surplus in the country, which prompting a high level of output from the country\u2019s factories and industrial facilities, as well as a greater number of people that are being employed. The majority of export in Australia was mainly driven by its major trade partner United States, Germany and Malaysia. Nonetheless, the gains experienced by the Australia dollar was limited amid the resurgence of Covid-19 in Australia region, which prompting the authorities to reimpose its Covid-19 restriction in Australia\u2019s second-largest city in Melbourne in order to combat the pandemic. As of writing, AUD\/USD appreciated by 0.08% to 0.7757.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.27% to $66.20 per barrel as of writing. The oil price surged as hopes of an early return of oil exporter Iran to international crude markets had diminished. According to Reuters, U.S. Secretary of State Blinken claimed that Iran currently had no indication to comply with nuclear commitments, which raising the tensions between U.S. and Iran. On the other hand, the gold price appreciated by 0.05% to $1879.95 per troy ounces as of writing amid depreciation of US Dollar.<\/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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nEUR – German GDP (QoQ) (Q1)<\/td>\n-1.7%<\/td>\n-1.7%<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR – German Ifo Business Climate Index (May)<\/td>\n96.8<\/td>\n98.1<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – CB Consumer Confidence (May)<\/td>\n121.7<\/td>\n119.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – New Home Sales (Apr)<\/td>\n1,021K<\/td>\n975K<\/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 while currently testing the support level 89.70. MACD which illustrate diminishing bullish momentum signal with the formation of death cross suggest the dollar to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 90.45, 91.25<\/p>\n

Support level: 89.70, 89.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level 1.4105. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.4205.<\/p>\n

 <\/p>\n

Resistance level: 1.4205, 1.4285<\/p>\n

Support level: 1.4105, 1.4010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level 1.2230. MACD which illustrate bullish bias signal with formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 1.2175, 1.2130<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from its high level. MACD which illustrate bearish bias signal suggest the pair to extend its losses in short term 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 higher while currently testing the resistance level 0.7760. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7760, 0.7860<\/p>\n

Support level: 0.7700, 0.7655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level 0.7225. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 0.7225.<\/p>\n

 <\/p>\n

Resistance level: 0.7225, 0.7280<\/p>\n

Support level: 0.7145, 0.7065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel while currently testing the support level 1.2030. However, MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support level.<\/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 remain traded in a sideway channel while currently testing near the support level 0.8950. However, MACD which illustrate bearish bias 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 higher while currently near the resistance level 66.60. MACD which illustrate ongoing bullish momentum signal suggest the commodity to extend its gains after it breaks above the resistance 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 remain traded in a sideway channel following prior retracement from the resistance level 1887.60. MACD which illustrate bearish momentum signal suggest the commodity to extend its retracement towards the support level 1863.25.<\/p>\n

 <\/p>\n

Resistance level: 1887.60, 1909.22<\/p>\n

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

25 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   Aussie surged amid upbeat economic data. The Australian Dollar surged over the backdrop of upbeat economic data from International Merchandise Trade Australia. The statistics mostly contains preliminary estimates of international merchandise trade, includes breakdowns of imports, exports, source and destination countries. According to the data, the overall exportation […]<\/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\/175355"}],"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=175355"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/175355\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=175355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=175355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=175355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}