{"id":198237,"date":"2021-09-16T03:43:16","date_gmt":"2021-09-16T03:43:16","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=198237"},"modified":"2021-09-16T03:43:16","modified_gmt":"2021-09-16T03:43:16","slug":"160921-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160921-afternoon-session-analysis\/","title":{"rendered":"160921 Afternoon Session Analysis"},"content":{"rendered":"

16 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound rose following positive economic data.<\/strong><\/span><\/p>\n

The pound sterling which traded against the dollar and other currency pairs have rebound from its recent low after recent release of positive economic data. According to National Statistics, U.K Consumer Price Index (CPI) rose to 3.2%, much higher than the forecast of 2.9%. It has also recorded the highest increase in 24 years. Following Reuter\u2019s report, the increase in the inflation rate in the UK has been driven by a faster job market recovery after the UK recorded a recruitment of 241,000 individuals last month. The positive data has also strengthened the view of the Central Bank of England that the minimum conditions for initiating monetary policy tightening have been met and a reduction in the volume of bond purchases is likely to be implemented in the near term. At the time of writing, GBP\/USD rose 0.04% to $1.3840.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.09% to $72.28 per barrel as of writing amid dwindling supply. According to reports, oil drillers in the Gulf of Mexico are still struggling to restore output more than two weeks after Hurricane Ida made landfall on the coast of Louisiana, with almost a third of production still idled. Operators have shut down 36 platforms out of 560, resulting in a loss of production of about half a million barrels of oil on Wednesday, according to the Bureau of Safety and Environmental Enforcement. On the other hand, gold price rose 0.10% to $1795.60 a troy ounce at the time 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\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core Retail Sales (MoM) (Aug)<\/td>\n-0.40%<\/td>\n-0.10%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n310K<\/td>\n318K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Philadelphia Fed Manufacturing Index (Sep)<\/td>\n19.4<\/td>\n19<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Retail Sales (MoM) (Aug)<\/td>\n-1.10%<\/td>\n-1.00%<\/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 following recent retracement from the resistance level 92.70. MACD which illustrate bearish momentum signal suggest the dollar to extend its losses towards the support level 92.05.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remain traded in a sideway channel. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to traded higher in short term towards the resistance level 1.3875.<\/p>\n

 <\/p>\n

Resistance level: 1.3875, 1.3990<\/p>\n

Support level: 1.3765, 1.3600<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat while currently testing near the support level 1.1800. 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: 1.1885, 1.1950<\/p>\n

Support level: 1.1800, 1.1705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level 109.15. 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: 109.60, 110.20<\/p>\n

Support level: 109.15, 108.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level 0.7335. However, MACD which illustrate persistent bearish momentum signal suggest the pair to be traded lower 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 remain traded in a sideway channel while currently testing near the resistance level 0.7145. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher after it breaks above the resistance 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 remain traded in a sideway channel following recent retracement from the resistance level 1.2685. MACD which illustrate bearish momentum signal suggest the pair to extend its retracement in short term towards the support level 1.2585.<\/p>\n

 <\/p>\n

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

Support level: 1.2585, 1.2510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.9200. 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: 0.9200, 0.9245<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level 70.45. MACD which illustrate ongoing bullish momentum signal suggest the commodity to extend its gains towards the resistance level 74.30.<\/p>\n

 <\/p>\n

Resistance level: 74.30, 77.00<\/p>\n

Support level: 70.45, 68.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded in a sideway channel following recent retracement from the resistance level 1806.85. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its retracement in short term towards the support level 1785.80.<\/p>\n

 <\/p>\n

Resistance level: 1806.85, 1831.20<\/p>\n

Support level: 1785.80, 1760.35<\/p>\n","protected":false},"excerpt":{"rendered":"

16 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 Afternoon Session Analysis   Pound rose following positive economic data. The pound sterling which traded against the dollar and other currency pairs have rebound from its recent low after recent release of positive economic data. According to National Statistics, U.K Consumer Price Index (CPI) rose to 3.2%, much higher than the forecast […]<\/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\/198237"}],"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=198237"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/198237\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=198237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=198237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=198237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}