{"id":176171,"date":"2021-05-28T06:48:54","date_gmt":"2021-05-28T06:48:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=176171"},"modified":"2021-05-28T06:48:54","modified_gmt":"2021-05-28T06:48:54","slug":"280521-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280521-afternoon-session-analysis\/","title":{"rendered":"280521 Afternoon Session Analysis"},"content":{"rendered":"

28 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

Pound surged amid hawkish tone from BoE<\/strong><\/span><\/p>\n

Pound Sterling surged over the backdrop of hawkish statement from Bank of England yesterday, which dragged up the appeal for the Pound Sterling. According to Reuters, The Bank of England claimed that they could increase the interest rates as soon as the first half of next year following the job market bounces back faster than expected, but it is more likely to wait until later in 2022, BoE policymaker Gertjan Vlieghe said on Thursday. The U.K. Government bond yields surged following Vlieghe\u2019s statement, which spurring market demand on the Pound Sterling. Besides, The BoE speculated the consumer price inflation will exceed 2.5% by the end of the year due to range of one-off effects related to the pandemic. Nonetheless, some Monetary Policy Committee still reiterated that the inflation risk will be muted in longer-term, reflecting a return of subdued wage growth before the pandemic. The overall statement from the BoE remained vague, hence investors would continue to scrutinize the latest updates with regards of the monetary policy from BoE to receive further trading signal. As of writing, GBP\/USD appreciated by 0.10% to 1.4190.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged 0.48% to $67.17 per barrel as of writing. The oil market edged higher amid positive crude oil demand outlook as some countries, such as U.S., Europe and China continue their economic recoveries. On the other hand, the gold price slumped 0.16% to $1893.55 per troy ounces amid strengthening jobs data from the U.S. region had spurred risk-on sentiment in the FX market, which diminishing the demand for this safe-haven commodity.<\/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\/A<\/p>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing near the resistance level 90.20. MACD which illustrate ongoing bullish momentum signal suggest the dollar to extend its gains after it breaks above the resistance level 90.20<\/p>\n

 <\/p>\n

Resistance level: 90.20, 90.65<\/p>\n

Support level: 89.50, 88.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remain traded in a sideway channel while currently testing the resistance level 1.4205. However, 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: 1.4205, 1.4285<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing near the support level 1.2175. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience a technical correction in short term towards the resistance level 1.2225.<\/p>\n

 <\/p>\n

Resistance level: 1.2225, 1.2260<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level 109.75. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains towards the resistance level 110.45.<\/p>\n

 <\/p>\n

Resistance level: 110.45, 110.95<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level 0.7735. 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: 0.7805, 0.7860<\/p>\n

Support level: 0.7735, 0.7680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.7265. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

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

Support level: 0.7265, 0.7210<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel following recent retracement from the resistance level 1.2135. However, MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its retracement in short term towards the support level 1.2030.<\/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. However, MACD which illustrate bullish bias signal suggest the pair to be traded higher in short term towards the resistance level 0.8990.<\/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 was traded higher following prior breakout above the previous resistance level 66.60. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its gains towards the resistance level 68.35.<\/p>\n

 <\/p>\n

Resistance level: 68.35, 70.40<\/p>\n

Support level: 66.60, 64.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1889.30. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level 1889.30.<\/p>\n

 <\/p>\n

Resistance level: 1909.20, 1928.25<\/p>\n

Support level: 1889.30, 1863.25<\/p>\n","protected":false},"excerpt":{"rendered":"

28 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 surged amid hawkish tone from BoE Pound Sterling surged over the backdrop of hawkish statement from Bank of England yesterday, which dragged up the appeal for the Pound Sterling. According to Reuters, The Bank of England claimed that they could increase the interest rates as soon as […]<\/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\/176171"}],"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=176171"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/176171\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=176171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=176171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=176171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}