{"id":186507,"date":"2021-07-20T04:10:05","date_gmt":"2021-07-20T04:10:05","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=186507"},"modified":"2021-07-20T04:10:05","modified_gmt":"2021-07-20T04:10:05","slug":"200721-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200721-afternoon-session-analysis\/","title":{"rendered":"200721 Afternoon Session Analysis"},"content":{"rendered":"

20 July 2021\u00a0\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 jumped amid risk-off sentiment.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs surged following the threat of the Delta Coronavirus variant hit global equity markets, which stoked a shift in sentiment toward safe-haven asset such as US Dollar. The, significant drop in commodity price had also further diminished risk appetite in the global market while prompting investors to headed for the risk-free government bonds, which spurring further bullish momentum on the US Dollar. Nonetheless, the gains experienced by the US Dollar was limited by the earlier dovish statement from Federal Reserve. According to Reuters, Federal Reserve Chair Jerome Powell claimed that the U.S. economy was still a way offs from levels of the central bank\u2019s goal before tapering its monetary support. Though, the overall statement from Fed remained vague, hence investors would continue to scrutinize the latest updates with regards of the Fed\u2019s monetary policy plan as well as Covid-19 development to gauge the likelihood movement for the US Dollar. As of writing, the Dollar Index appreciated by 0.05% to 92.85.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.01% to 66.85 per barrel as of writing. The oil market extends its losses amid the concerns over the spiking numbers of the Delta variant as well as the increase production from OPEC+ had continue to weigh down the appeal of this black commodity. On the other hand, the gold price depreciated by 0.10% to $1816.90 per troy ounces as of writing amid strengthening 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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits<\/td>\n1.683M<\/td>\n1.700M<\/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 at 92.70. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 93.25, 94.10<\/p>\n

Support level: 92.70, 92.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.3740. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3740, 1.3900<\/p>\n

Support level: 1.3565, 1.3415<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.1850. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1850, 1.1955<\/p>\n

Support level: 1.1725, 1.1635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 109.05. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 109.75.<\/p>\n

 <\/p>\n

Resistance level: 109.75, 110.45<\/p>\n

Support level: 109.05, 108.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7320. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7410, 0.7495<\/p>\n

Support level: 0.7320, 0.7240<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6915. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7120, 0.7305<\/p>\n

Support level: 0.6915, 0.6770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2770. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2770, 1.2935<\/p>\n

Support level: 1.2595, 1.2440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9230. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9135.<\/p>\n

 <\/p>\n

Resistance level: 0.9230, 0.9305<\/p>\n

Support level: 0.9135, 0.9035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower while currently testing the support level at 65.90. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 70.60, 76.20<\/p>\n

Support level: 65.90, 61.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1813.05. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1832.25.<\/p>\n

 <\/p>\n

Resistance level: 1832.25, 1851.85<\/p>\n

Support level: 1813.05, 1789.00<\/p>\n

 <\/p>\n

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

20 July 2021\u00a0\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 jumped amid risk-off sentiment. The Dollar Index which traded against a basket of six major currency pairs surged following the threat of the Delta Coronavirus variant hit global equity markets, which stoked a shift in sentiment toward safe-haven asset such as US Dollar. The, significant drop in commodity […]<\/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\/186507"}],"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=186507"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/186507\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=186507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=186507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=186507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}