{"id":195671,"date":"2021-09-03T06:47:21","date_gmt":"2021-09-03T06:47:21","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=195671"},"modified":"2021-09-03T06:47:21","modified_gmt":"2021-09-03T06:47:21","slug":"030921-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030921-afternoon-session-analysis\/","title":{"rendered":"030921 Afternoon Session Analysis"},"content":{"rendered":"

3 September 2021\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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Swiss Franc appreciated despite mixed economic data.<\/strong><\/span><\/p>\n

The Swiss Franc was traded higher against US dollar and other currency pair over the backdrop of mixed economic data. According to Swiss Federal Statistical Office, Switzerland Consumer Price Index (CPI) in August edged higher from the previous reading of -0.1% to 0.2%, while exceeding the forecasted reading of 0.1%. Meanwhile, the Switzerland Gross Domestic Product (GDP) in second quarter had ticked up to 1.8% from the previous reading of -0.4%, slightly lower than the forecasted reading of 2.0%. Despite with the underperformance of GDP figure, both data suggested a strong economic momentum hence fueled up the market optimism toward the Swiss Franc. Moreover, the pair of USD\/CHF was pressured by the bearish US\u2019s ADP Nonfarm Employment Change data which implies subdued recovery in US jobs market. Nevertheless, the bullish momentum of Swiss Franc was limited by the rallying equity market following dovish stance from Fed. A firmer equity market had prompted investors to shift their portfolio into riskier assets, hence diminishing the appeal of safe haven Swiss Franc. As of writing, the pair of USD\/CHF slumped 0.02% to 0.9135.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price was up 0.1% to $69.87 per barrel as of writing amid easing oil production. According to the Bureau of Safety and Environmental Enforcement, it stated that there were about 1.7 million of barrels of US oil output remained shut. Not only that, oil production in Gulf of Mexico remained constrained following the Hurricane Ida which induced large scale of damage. On the other hand, the gold price rose 0.2% to $1813.33 a troy ounce as of writing amid weakening 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\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Composite PMI (Aug)<\/td>\n55.3<\/td>\n55.4<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Services PMI (Aug)<\/td>\n55.5<\/td>\n55.5<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Nonfarm Payrolls (Aug)<\/td>\n943K<\/td>\n728K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Unemployment Rate (Aug)<\/td>\n5.40%<\/td>\n5.20%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Non-Manufacturing PMI (Aug)<\/td>\n64.1<\/td>\n61.8<\/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 92.15. MACD which illustrate ongoing bearish momentum signal suggest the dollar to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 92.70, 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 rebound from the support level 1.3760. MACD which illustrate ongoing 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

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level 1.1880. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 1.1830, 1.1765<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel. However, MACD which illustrate bearish momentum signal suggest the pair to be traded lower towards the support level 109.60.<\/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 the resistance level 0.7415. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the support level 0.7330.<\/p>\n

 <\/p>\n

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

Support level: 0.7330, 0.7250<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing near the resistance level 0.7135. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction towards the support level 0.7075.<\/p>\n

 <\/p>\n

Resistance level: 0.7135, 0.7225<\/p>\n

Support level: 0.7075, 0.6990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level 1.2585. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 1.2440.<\/p>\n

 <\/p>\n

Resistance level: 1.2585, 1.2675<\/p>\n

Support level: 1.2440, 1.2310<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded in sideway channel. However, MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to be traded lower towards the support level 0.9100.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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

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

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following recent rebound from the support level 68.35. MACD which illustrate bullish momentum signal suggest the commodity to extend its gains towards the resistance level 71.00.<\/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 remain trade flat in a sideway channel. However, MACD which illustrate bearish momentum signal suggest the commodity to be traded lower 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":"

3 September 2021\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 Afternoon Session Analysis   Swiss Franc appreciated despite mixed economic data. The Swiss Franc was traded higher against US dollar and other currency pair over the backdrop of mixed economic data. According to Swiss Federal Statistical Office, Switzerland Consumer Price Index (CPI) in August edged higher from the previous reading of -0.1% […]<\/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\/195671"}],"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=195671"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/195671\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=195671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=195671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=195671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}