{"id":187711,"date":"2021-07-26T05:52:52","date_gmt":"2021-07-26T05:52:52","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=187711"},"modified":"2021-07-26T05:52:52","modified_gmt":"2021-07-26T05:52:52","slug":"260721-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260721-afternoon-session-analysis\/","title":{"rendered":"260721 Afternoon Session Analysis"},"content":{"rendered":"

26 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

 <\/p>\n

Euro remains weak amid Covid-19.<\/strong><\/span><\/p>\n

The Euro which traded against the dollar and other currency pair continue to struggle and fell following coronavirus woes continue to dampen market expectation towards EU economic recovery. Recently, coronavirus cases in the EU have increased significantly where several countries such as Germany and Belgium seen a spike in infections. The majority of the cases are composed of Delta variants. Recent data show that the Delta variant is 60% higher in the probability of infection when compared to the original variant. Governments within the EU are beginning to re-tighten the SOP restriction to curb the increase in coronavirus cases. Investors are concerned that tightening restrictions will undermine the momentum of economic recovery in the EU. Besides that, it will also pressure the the European Central Bank to maintain its policy easing for a longer period of time to ensure a stable economic recovery. At the time of writing, EUR\/USD fell 0.04% to 1.1771.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slips 0.05% to $71.67 per barrel at the time of writing following covid-19 resurgence. The fast-spreading Delta variant have starting raising concerns about the short-term outlook where several countries have reimposed tight restrictions and could potentially affect demand for oil consumption. The top U.S. infectious disease expert, Anthony Fauci, warned that the U.S is moving in the \u201cwrong direction\u201d in combating the new wave of the pandemic. On the other hand, gold price rose 0.16% to $1805.09 a troy ounce as of writing following dollar retreat.<\/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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:00<\/td>\nEUR – German Ifo Business Climate Index (Jul)<\/td>\n101.8<\/td>\n102.1<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 New Home Sales (Jun)<\/td>\n769K<\/td>\n800K<\/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 higher following recent rebound from the support level 92.65. MACD which illustrate diminishing bearish momentum signal suggest the dollar to be traded higher in short term towards the resistance level 93.10.<\/p>\n

 <\/p>\n

Resistance level: 93.10, 93.45<\/p>\n

Support level: 92.65, 92.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat while currently testing the support level 1.3735. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3890, 1.3990<\/p>\n

Support level: 1.3735, 1.3575<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following recent breakout below the previous support level 1.1795. However, MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to be traded higher as a technical correction towards the resistance level 1.1795.<\/p>\n

 <\/p>\n

Resistance level: 1.1795, 1.1880<\/p>\n

Support level: 1.1705, 1.1625<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level 110.40. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 111.00, 111.65<\/p>\n

Support level: 110.40, 109.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level 0.7340. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7415, 0.7485<\/p>\n

Support level: 0.7340, 0.7245<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.6925.<\/p>\n

 <\/p>\n

Resistance level: 0.7000, 0.7075<\/p>\n

Support level: 0.6925, 0.6825<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level 1.2565. MACD which illustrate diminishing bearish momentum signal with the starting formation of golden cross suggest the pair to extend its gains towards the resistance level 1.2675.<\/p>\n

 <\/p>\n

Resistance level: 1.2675, 1.2770<\/p>\n

Support level: 1.2565, 1.2470<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level 0.9200. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its losses towards the support level 0.9135.<\/p>\n

 <\/p>\n

Resistance level: 0.9200, 0.9245<\/p>\n

Support level: 0.9135, 0.9090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its retracement towards the support level 70.85.<\/p>\n

 <\/p>\n

Resistance level: 74.60, 76.90<\/p>\n

Support level: 70.85, 68.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1792.10. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 1814.80.<\/p>\n

 <\/p>\n

Resistance level: 1814.80, 1831.85<\/p>\n

Support level: 1792.10, 1762.20<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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   Euro remains weak amid Covid-19. The Euro which traded against the dollar and other currency pair continue to struggle and fell following coronavirus woes continue to dampen market expectation towards EU economic recovery. Recently, coronavirus cases in the EU have increased significantly where several countries such as Germany […]<\/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\/187711"}],"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=187711"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/187711\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=187711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=187711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=187711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}