{"id":203895,"date":"2021-10-13T05:30:19","date_gmt":"2021-10-13T05:30:19","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=203895"},"modified":"2021-10-13T05:30:19","modified_gmt":"2021-10-13T05:30:19","slug":"131021-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131021-afternoon-session-analysis\/","title":{"rendered":"131021 Afternoon Session Analysis"},"content":{"rendered":"

13 October 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound remain steady following upbeat jobs data.<\/strong><\/span><\/p>\n

The Pound sterling which traded against the dollar and other currency pairs remain steady and rose following upbeat economic data. According to Office for National Statistics, UK Average Earnings Index figures in August came at the reading of 7.2%, higher than the forecasted reading of 7.0%. In addition, UK Unemployment Rate in August came at the reading of 4.5%, matching with the forecasted reading. The positive data suggested a rapid expansion of UK labor market. Nevertheless, the recent supply shortages and ongoing energy crisis across Europe and Asia may dampened market sentiment due to the rising concerns that higher energy costs could derail the global economic recovery. As of writing, the pair of GBP\/USD rose 0.03% to 1.3613.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price was down 0.01% to $80.41 per barrel as of writing amid technical correction after oil price reached its recent high. The overall sentiment toward oil market remained bullish following increasing global demand of oil driven by shortages of natural gas and gasoline in Asia and Europe. On the other hand, the gold price was edge higher 0.02% to $1760.95 a troy ounce as 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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP – GDP (MoM)<\/td>\n0.10%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Manufacturing Production (MoM) (Aug)<\/td>\n0.20%<\/td>\n0.10%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core CPI (MoM) (Sep)<\/td>\n0.10%<\/td>\n0.30%<\/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 prior retracement from the resistance level 94.40. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 93.70.<\/p>\n

 <\/p>\n

Resistance level: 94.40, 94.90<\/p>\n

Support level: 93.70, 93.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat while currently testing the resistance level 1.3620. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3620, 1.3745<\/p>\n

Support level: 1.3435, 1.3300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD remain traded in a sideway channel following recent rebound from the support level 1.1515. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound in short term towards the resistance level 1.1610.<\/p>\n

 <\/p>\n

Resistance level: 1.1610, 1.1690<\/p>\n

Support level: 1.1515, 1.1440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level 113.40. MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the pair to extend its losses after it break below the support level.<\/p>\n

 <\/p>\n

Resistance level: 113.95, 114.55<\/p>\n

Support level: 113.40, 112.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level 0.7320. 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: 0.7415, 0.7485<\/p>\n

Support level: 0.7320, 0.7235<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD remain traded flat in a sideway channel. Due to lack of momentum and clear direction from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

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

Support level: 0.6880, 0.6805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded flat while currently testing the support level 1.2455. However, MACD which illustrate bullish bias signal suggest the pair to be traded higher as a technical correction towards the resistance level 1.2585.<\/p>\n

 <\/p>\n

Resistance level: 1.2585, 1.2695<\/p>\n

Support level: 1.2455, 1.2310<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded in a sideway channel following recent retracement from the resistance level 0.9305. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.9240.<\/p>\n

 <\/p>\n

Resistance level: 0.9305, 0.9365<\/p>\n

Support level: 0.9240, 0.9185<\/p>\n

 <\/p>\n

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

CrudeOIL, H4: <\/strong>Crude was traded lower following recent retracement from its high level. MACD which illustrate bearish momentum signal with the recent formation of death cross suggest the commodity to extend its losses towards the support level 79.40.<\/p>\n

 <\/p>\n

Resistance level: 82.50, 84.55<\/p>\n

Support level: 79.40, 76.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price remain traded flat in a sideway channel. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its gains towards the resistance level 1779.50.<\/p>\n

 <\/p>\n

Resistance level: 1779.50, 1806.85<\/p>\n

Support level: 1747.05, 1721.65<\/p>\n","protected":false},"excerpt":{"rendered":"

13 October 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Pound remain steady following upbeat jobs data. The Pound sterling which traded against the dollar and other currency pairs remain steady and rose following upbeat economic data. According to Office for National Statistics, UK Average Earnings Index figures in August came at the reading of 7.2%, higher than […]<\/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\/203895"}],"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=203895"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/203895\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=203895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=203895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=203895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}