{"id":180563,"date":"2021-06-21T04:40:04","date_gmt":"2021-06-21T04:40:04","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=180563"},"modified":"2021-06-21T04:40:04","modified_gmt":"2021-06-21T04:40:04","slug":"210621-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/210621-afternoon-session-analysis\/","title":{"rendered":"210621 Afternoon Session Analysis"},"content":{"rendered":"

21 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

Dollar stay strong amid hawkish Fed.<\/strong><\/span><\/p>\n

The dollar index has continued to held multi-months high against the against a basket of six major currency pairs after market continue to react towards rate hike signal surprise from U.S Federal Reserve last week. The jolt to foreign exchanges was triggered on Wednesday by Fed forecasts showing 13 of the 18-person policy board saw rates rising in 2023, versus only six previously, with the median board member tipping two hikes in 2023. On top of that, the dollar was further boosted by comments from St Louis Fed Governor after St. Louis Federal Reserve Governor James Bullard stated recently that the U.S. central bank’s shift toward a faster tightening of monetary policy was a “natural” response to economic growth and particularly inflation moving quicker than expected as the country reopens from the coronavirus pandemic. At the time of writing, dollar index rose 0.04% to 92.26.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price soars 1.29% to $72.31 per barrel at the time of writing following a pause in Iran nuclear deal talks. Negotiations to revive the Iran nuclear deal have been halted temporary after hardline judge Ebrahim Raisi won Iran’s presidential election amid a low turnout on Saturday. Two diplomats said they expected a break of around 10 days. On the other hand, gold price edge lower 0.11% to $1775.50 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

 <\/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

22:15\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

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

N\/A<\/p>\n

<\/u><\/p>\n

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 92.25. However, MACD which illustrate diminishing bullish momentum signal suggest the dollar to experience a technical correction in short term towards the support level 91.80.<\/p>\n

 <\/p>\n

Resistance level: 92.25, 92.70<\/p>\n

Support level: 91.80, 91.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat while currently testing near the resistance level 1.3830. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3830, 1.3925<\/p>\n

Support level: 1.3755, 1.3675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat awhile currently testing the resistance level 1.1870. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher after it breaks back above the level.<\/p>\n

 <\/p>\n

Resistance level: 1.1870, 1.1985<\/p>\n

Support level: 1.1805, 1.1740<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 110.30. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 109.75.<\/p>\n

 <\/p>\n

Resistance level: 110.30, 110.85<\/p>\n

Support level: 109.75, 109.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level 0.7505. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7505, 0.7550<\/p>\n

Support level: 0.7445, 0.7395<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6945. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 0.7000.<\/p>\n

 <\/p>\n

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

Support level: 0.6945, 0.6890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following recent breakout above the previous resistance level 1.2420. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction in short term back towards the level 1.2420.<\/p>\n

 <\/p>\n

Resistance level: 1.2505, 1.2560<\/p>\n

Support level: 1.2420, 1.2350<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded flat after recent breakout above the previous resistance level 0.9180. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower in short term towards the support level 0.9180.<\/p>\n

 <\/p>\n

Resistance level: 0.9245, 0.9280<\/p>\n

Support level: 0.9180, 0.9135<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance level 72.40. MACD which illustrate bullish bias 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: 72.40, 74.20<\/p>\n

Support level: 70.50, 68.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1767.85. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its rebound towards the resistance level 1812.10.<\/p>\n

 <\/p>\n

Resistance level: 1812.10, 1856.00<\/p>\n

Support level: 1767.85, 1725.50.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

21 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 stay strong amid hawkish Fed. The dollar index has continued to held multi-months high against the against a basket of six major currency pairs after market continue to react towards rate hike signal surprise from U.S Federal Reserve last week. The jolt to foreign exchanges was triggered on […]<\/p>\n","protected":false},"author":25,"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\/180563"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=180563"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/180563\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=180563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=180563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=180563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}