{"id":189629,"date":"2021-08-03T05:44:10","date_gmt":"2021-08-03T05:44:10","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=189629"},"modified":"2021-08-03T05:44:10","modified_gmt":"2021-08-03T05:44:10","slug":"030821-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030821-afternoon-session-analysis\/","title":{"rendered":"030821 Afternoon Session Analysis"},"content":{"rendered":"

03 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Pound steady following recent upbeat PMI data.<\/strong><\/span><\/p>\n

The pound sterling which traded against the dollar and other currency pairs remains steady and edge higher after recent release of positive data from the U.K. According to Markit Economics, the U.K Markit Manufacturing PMI came in at 60.4, which was in line with expectations of 60.4, thus providing further optimism for the market. The data show that manufacturing sector are benefiting from U.K economic reopening and could help provide a boost in economic growth. Meanwhile, investors will continue to pay close attention to the U.K coronavirus situation to assess potential movement for the pair. Over the past period of time, the number of coronavirus cases in the UK has begun to gradually decline. The decline in COVID-19 cases indicates that the U.K government is unlikely to tighten social restrictions, which will benefit the normal operation of all economic sectors. At the time of writing, GBP\/USD rose 0.08% to $13889.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 0.32% to $71.42 per barrel as of writing following demand concerns. Investors are still expressing concern over slowed crude oil consumption as coronavirus cases continue to rose on several countries and regions. Besides that, recent downbeat factory data from China and U.S also weigh on the commodity sentiment. On the other hand, gold price edge higher 0.11% to $1810.80 a troy ounce at the time of writing following dollar weakness.<\/p>\n

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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

12:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\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 RBA Rate Statement<\/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
12:30<\/td>\nAUD – RBA Interest Rate Decision (Aug)<\/td>\n0.10%<\/td>\n0.10%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded flat while currently testing near the resistance level 92.05. MACD which illustrate ongoing bullish momentum signal suggest the dollar to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 91.60, 91.25<\/p>\n

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded flat while currently testing the support level 1.3890. However, MACD which illustrate bearish momentum signal suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3990, 1.4105<\/p>\n

Support level: 1.3890, 1.3735<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat near the resistance level 1.1880. However, MACD which illustrate bearish momentum signal suggest the pair to be traded lower towards the support level 1.1810.<\/p>\n

 <\/p>\n

Resistance level: 1.1880, 1.1950<\/p>\n

Support level: 1.1810, 1.1755<\/p>\n

\"\"<\/p>\n

 <\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level 109.20. 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: 109.70, 110.40<\/p>\n

Support level: 109.20, 108.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following recent rebound from the support level 0.7330. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.7415.<\/p>\n

 <\/p>\n

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

Support level: 0.7330, 0.7245<\/p>\n

 <\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing near the resistance level 0.7000. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

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

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

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USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level 1.2520. 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: 1.2520, 1.2595<\/p>\n

Support level: 1.2440, 1.2350<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded flat while currently testing near the support level 0.9040. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher in short term towards the resistance level 0.9090.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level 71.10. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 74.60, 77.00.<\/p>\n

Support level: 71.10, 68.40.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level 1814.80. MACD which illustrate bearish momentum signal suggest the commodity to extend its retracement towards the support level 1792.10.<\/p>\n

 <\/p>\n

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

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

03 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Pound steady following recent upbeat PMI data. The pound sterling which traded against the dollar and other currency pairs remains steady and edge higher after recent release of positive data from the U.K. According to Markit Economics, the U.K Markit Manufacturing PMI came in at 60.4, which was in […]<\/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\/189629"}],"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=189629"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/189629\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=189629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=189629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=189629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}