{"id":179159,"date":"2021-06-14T04:19:59","date_gmt":"2021-06-14T04:19:59","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=179159"},"modified":"2021-06-14T04:19:59","modified_gmt":"2021-06-14T04:19:59","slug":"140621-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140621-afternoon-session-analysis\/","title":{"rendered":"140621 Afternoon Session Analysis"},"content":{"rendered":"

14 June 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

Dollar remains firm ahead of Fed meeting this week.<\/strong><\/span><\/p>\n

The dollar index which traded against a basket of six major currency pairs have held steady after posting its biggest weekly gain in more than a month as traders remain cautious ahead of a Fed meeting this week. In recent weeks, market continue to digest inflationary pressure that could force the Fed to tighten their policy earlier than expected. The latest data show that the US CPI has risen to 5.0%, the highest level in 13 years. While recent comments from policy makers insist that the inflation would be temporary, markets now expect the Fed may giving clues on changing its asset purchase program. On top of that, investors also continue to bet on U.S economic rebound where coronavirus cases continue to drop in the country. At the time of writing, dollar index rose 0.03% to 90.48.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price jump 0.58% to $71.18 per barrel as of writing following improved outlook for demand. According to data, vehicle traffic is returning to pre-pandemic levels in North America and much of Europe and more planes are in the air as lockdowns and other restrictions are being eased. On top of that, IEA also mention that OPEC need to increase output to meet recovery demand. On the other hand, gold price slips 0.64% to $1856.16 a troy ounce at the time of writing following dollar strength.<\/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

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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

21:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoE Gov Bailey Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level 90.50. MACD which illustrate bullish momentum signal suggest the dollar to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 90.50, 90.75<\/p>\n

Support level: 90.15, 89.70<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD remain traded in a sideway channel while currently testing the support level 1.4100. However, MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level<\/p>\n

 <\/p>\n

Resistance level: 1.4195, 1.4275<\/p>\n

Support level: 1.4100, 1.4020<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing near the support level 1.2070. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2160, 1.2240<\/p>\n

Support level: 1.2070, 1.1985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel while currently testing the resistance level 109.75. However, MACD which display bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 109.75, 110.30<\/p>\n

Support level: 109.30, 108.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel while currently testing the support level 0.7695. However, MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7765, 0.7805<\/p>\n

Support level: 0.7695, 0.7650<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level 0.7135. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 0.7225.<\/p>\n

 <\/p>\n

Resistance level: 0.7135, 0.7225<\/p>\n

Support level: 0.7065, 0.7000<\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level 1.2175. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 1.2125.<\/p>\n

 <\/p>\n

Resistance level: 1.2175, 1.2270<\/p>\n

Support level: 1.2125, 1.2035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.8990. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.8990, 0.9040<\/p>\n

Support level: 0.8935, 0.8890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 70.50. MACD which illustrate bullish bias signal suggest the commodity to extend its gains towards the resistance level 72.30.<\/p>\n

 <\/p>\n

Resistance level: 72.30, 74.20<\/p>\n

Support level: 70.50, 68.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1856.05. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1885.35, 1913.30<\/p>\n

Support level: 1856.05, 1812.10<\/p>\n","protected":false},"excerpt":{"rendered":"

14 June 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   Dollar remains firm ahead of Fed meeting this week. The dollar index which traded against a basket of six major currency pairs have held steady after posting its biggest weekly gain in more than a month as traders remain cautious ahead of a Fed meeting this week. In […]<\/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\/179159"}],"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=179159"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/179159\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=179159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=179159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=179159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}