{"id":194859,"date":"2021-08-30T05:30:58","date_gmt":"2021-08-30T05:30:58","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=194859"},"modified":"2021-08-30T05:30:58","modified_gmt":"2021-08-30T05:30:58","slug":"300821-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300821-afternoon-session-analysis\/","title":{"rendered":"300821 Afternoon Session Analysis"},"content":{"rendered":"

30 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

 <\/p>\n

Aussie rose following upbeat data.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs have rose following upbeat economics data at home and also support from dollar weakness caused by dovish Fed. According to Australian Bureau of Statistics, Australia\u2019s Company Gross Operating Profits jump to 7.1%, surpassed market expectation and previous reading of 3% and -0.6% respectively. On the other hand, dovish statement from Fed on last Friday have buoyed global risk appetite which further boosting the momentum for the Aussie. While Powell provide hints for tapering this year, the central banker has refrained from offering any exact timing of tapering and indicated a gap between the taper and rate hike. Also, comments like \u201cWe will be carefully assessing incoming data and the evolving risks,\u201d offered extra confirmation to the markets that the easy money policy is here to stay. AUD\/USD rose 0.09% to 0.7303.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price edge higher 0.02% to $68.69 per barrel as of writing amid ongoing concerns over Hurricane Ida. According to reports, Hurricane Ida is ploughing through the Gulf of Mexico and forced shutdowns and evacuations of hundreds of offshore oil platforms. Energy companies have halted more than 95% of crude production in the U.S Gulf of Mexico following the storm. On the other hand, gold price rose 0.05% to $1814.67 a troy ounce at the time of writing following dollar weakness.<\/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
22:00<\/td>\nUSD – Pending Home Sales (MoM) (Jul)<\/td>\n-1.9%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level 92.65. MACD which illustrate bearish bias signal with the formation of death cross suggest the dollar to extend its losses towards the support level 92.15.<\/p>\n

 <\/p>\n

Resistance level: 92.65, 93.10<\/p>\n

Support level: 92.15, 91.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following recent breakout above the previous resistance level 1.3760. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 1.3885.<\/p>\n

 <\/p>\n

Resistance level: 1.3885, 1.3990<\/p>\n

Support level: 1.3760, 1.3600<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following recent breakout above the previous resistance level 1.1765. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains towards the resistance level 1.1830.<\/p>\n

 <\/p>\n

Resistance level: 1.1830, 1.1880<\/p>\n

Support level: 1.1765, 1.1705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel while currently testing near the support level 109.60. 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: 110.15, 110.75<\/p>\n

Support level: 109.60, 109.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance level 0.7330. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction towards the support level 0.7250.<\/p>\n

 <\/p>\n

Resistance level: 0.7330, 0.7415<\/p>\n

Support level: 0.7250, 0.7150<\/p>\n

\u00a0<\/strong><\/p>\n

\"\"<\/strong><\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.6990. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7075, 0.7135<\/p>\n

Support level: 0.6990, 0.6920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel while currently testing near the support level 1.2585. However, MACD which illustrate bearish bias signal suggest the pair to be traded lower following prior breakout below the support level.<\/p>\n

 <\/p>\n

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

Support level: 1.2585, 1.2440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded in sideway channel while currently testing the support level 0.9100. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

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

Support level: 0.9100, 0.9025<\/p>\n

\u00a0<\/strong><\/p>\n

\"\"<\/strong><\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level 68.35. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its losses after it breaks below the support level 68.35.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 71.00, 74.60<\/p>\n

Support level: 68.35, 65.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded higher while currently testing near the resistance level 1831.85. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience its retracement towards the support level 1792.35.<\/p>\n

 <\/p>\n

Resistance level: 1831.85, 1866.85<\/p>\n

Support level: 1792.35, 1760.35<\/p>\n","protected":false},"excerpt":{"rendered":"

30 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Aussie rose following upbeat data. The Australian dollar which traded against the dollar and other currency pairs have rose following upbeat economics data at home and also support from dollar weakness caused by dovish Fed. According to Australian Bureau of Statistics, Australia\u2019s Company Gross Operating Profits jump to […]<\/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\/194859"}],"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=194859"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/194859\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=194859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=194859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=194859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}