{"id":175618,"date":"2021-05-26T05:40:05","date_gmt":"2021-05-26T05:40:05","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=175618"},"modified":"2021-05-26T05:40:05","modified_gmt":"2021-05-26T05:40:05","slug":"260521-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260521-afternoon-session-analysis\/","title":{"rendered":"260521 Afternoon Session Analysis"},"content":{"rendered":"

26 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 lingered over the high level amid mixed economic data.<\/strong><\/span><\/p>\n

The Euro was traded within a range while hovered in high level following the European region released mixed economic data on yesterday. According to ifo Institute for Economic Research, Germany Ifo Business Climate Index had increased significantly from the previous reading of 96.6 to 99.2, confounding market forecast for a reading of up to 98.2. Though, the gains experienced by the Euro was limited over the backdrop of bearish economic data from Germany region. The Statistisches Bundesamt reported that the Germany Gross Domestic Product (GDP) for last quarter came in at only -1.8%, missing the market forecast at -1.7%. On the Covid-19 pandemic front, as for now market participants remained optimism toward the vaccination progress in the European region, which dialled up the market optimism toward the economic momentum in European. According to Reuters, the European Union expects to have received more than a billion doses of Covid-19 vaccines by the end of September. Indeed, the document shows the EU is confident of having enough vaccines to immunise its entire eligible population by September, well beyond the initial goal of inoculating 70% of the adult population by end the of summer. As of writing, EUR\/USD appreciated by 0.03% to 1.2250.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price extends its gains 0.15% to $66.10 per barrel as of writing. The oil market edged higher amid positive prospect of the Covid-19 vaccine development had spurred market demand on this black-commodity. On the other hand, the gold price surged 0.26% to $1904.00 per troy ounces as of writing as institutional investors have shift their portfolio toward safe-haven gold in order to hedge against the future inflation risk.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n1.321M<\/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 89.70. MACD which illustrate bearish bias signal suggest the dollar to extend its losses towards the support level 89.25.<\/p>\n

 <\/p>\n

Resistance level: 89.70, 90.45<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remain traded in a sideway channel following recent rebound from the support level 1.4105. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher 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 the resistance level 1.2260. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 1.2260.<\/p>\n

 <\/p>\n

Resistance level: 1.2260, 1.2290<\/p>\n

Support level: 1.2225, 1.2175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel. Due to lack of momentum and clear direction from MACD, it is suggested to wait until further signal appear before entering the market.<\/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 following prior breakout above the previous resistance level 0.7805. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.7805.<\/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 higher following prior breakout above the previous resistance level 0.7280. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.7330.<\/p>\n

 <\/p>\n

Resistance level: 0.7330, 0.7395<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel while currently testing near 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 was traded lower while currently testing the support level 0.8940. 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: 0.8990, 0.9045<\/p>\n

Support level: 0.8940, 0.8880<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded flat near the resistance level 66.60. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower towards the support level 64.25.<\/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 higher while currently testing the resistance level 1909.00. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1909.00, 1928.25<\/p>\n

Support level: 1887.60, 1863.25<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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 lingered over the high level amid mixed economic data. The Euro was traded within a range while hovered in high level following the European region released mixed economic data on yesterday. According to ifo Institute for Economic Research, Germany Ifo Business Climate Index had increased significantly from […]<\/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\/175618"}],"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=175618"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/175618\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=175618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=175618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=175618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}