{"id":196531,"date":"2021-09-08T06:26:49","date_gmt":"2021-09-08T06:26:49","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=196531"},"modified":"2021-09-08T06:39:04","modified_gmt":"2021-09-08T06:39:04","slug":"080921-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080921-afternoon-session-analysis\/","title":{"rendered":"080921 Afternoon Session Analysis"},"content":{"rendered":"

8 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

Euro fell amid downbeat economic data.<\/strong><\/span><\/p>\n

The Euro was traded lower against US dollar and other currency pairs amid negative economic data. According to the Zentrum f\u00fcr Europ\u00e4ische Wirtschaftsforschung, German ZEW Economic Sentiment in September eased from the previous reading of 40.4 to 26.5, lower than the forecasted reading of 30.0. The Germany\u2019s economic outlook deteriorated following shortage in global chip supply as well as construction materials which weighed on the profit expectations. Nevertheless, the better-than-expected Eurozone Gross Domestic Product (GDP) in second quarter which came in at the reading of 2.2%, while exceeding the forecasted reading of 2.0, has limited the bearish momentum of the Euro. Market sentiments remain optimistic amid speculation on possible monetary policy tightening in the EU. On Thursday, investors anticipated that the European Central Bank (ECB) will announce to taper its Pandemic Emergency Purchase Programme (PEPP) in order to scale down its market stimulus. As of writing, the pair of EUR\/USD was down 0.1% to 1.1840.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.1% to $68.38 per barrel as of writing amid the price cutting in Saudi Arabia. Oil price was pressured following the price cutting made by Saudi Arabia in addition to weaker demand of oil demand outlook. On the other hand, the gold price slumped 0.2% to $1797.73 per troy ounces as of writing amid strengthening US dollar.<\/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

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 BOC Press Conference<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
22:00<\/td>\nUSD – JOLTs Job Openings (Jul)<\/td>\n10.073M<\/td>\n9.281M<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD – BoC Interest Rate Decision<\/td>\n0.25%<\/td>\n0.25%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD – Ivey PMI (Aug)<\/td>\n56.4<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

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DOLLAR_INDX, H4: <\/strong>Dollar was traded higher following recent rebound from the support level 92.05. MACD which illustrate bullish momentum signal suggest the dollar to extend its rebound towards the resistance level 92.70.<\/p>\n

 <\/p>\n

Resistance level: 92.70, 93.10<\/p>\n

Support level: 92.05, 91.60<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level 1.3760. 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: 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 lower while currently testing the support level 1.1830. 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: 1.1885, 1.1950<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level 110.15. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 110.75.<\/p>\n

 <\/p>\n

Resistance level: 110.75, 111.55<\/p>\n

Support level: 110.15, 109.60<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level 0.7415. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses 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 lower while currently testing near the support level 0.7075. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7145, 0.7225<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing near the resistance level 1.2685. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 1.2685.<\/p>\n

 <\/p>\n

Resistance level: 1.2685, 1.2770<\/p>\n

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

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded in sideway channel while currently testing the resistance level 0.9200. However, 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: 0.9200, 0.9245<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level 68.05. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 70.55, 74.30<\/p>\n

Support level: 68.05, 65.35<\/p>\n

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\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded lower while currently testing the support level 1792.35. MACD which illustrate ongoing bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

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

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

8 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   Euro fell amid downbeat economic data. The Euro was traded lower against US dollar and other currency pairs amid negative economic data. According to the Zentrum f\u00fcr Europ\u00e4ische Wirtschaftsforschung, German ZEW Economic Sentiment in September eased from the previous reading of 40.4 to 26.5, lower than the forecasted […]<\/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\/196531"}],"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=196531"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/196531\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=196531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=196531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=196531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}