{"id":206721,"date":"2021-10-28T04:16:36","date_gmt":"2021-10-28T04:16:36","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=206721"},"modified":"2021-10-28T04:16:36","modified_gmt":"2021-10-28T04:16:36","slug":"281021-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/281021-afternoon-session-analysis\/","title":{"rendered":"281021 Afternoon Session Analysis"},"content":{"rendered":"

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

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Australian dollar rose following upbeat economic data.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pair have rose over the backdrop of upbeat economic data. According to Australian Bureau of Statistic, Australia Consumer Price Index (CPI) in third quarter recorded at the reading of 0.8%, in line with the forecasted reading. In addition, Australia Trimmed Mean Consumer Price Index (CPI) in third quarter came at the reading of 2.1% while exceeding the forecasted reading of 1.8%. Both inflation data suggested that current global supply chain disruption has resulted in rising construction input costs as well as housing prices. According to an economist at Capital Economics, the rising inflation pressure is expected to push the Reserve Bank of Australia (RBA) to scale back its stimulus in the months ahead. However, the overall sentiment toward Australian dollar remains bleak as RBA Governor Philip Lowe argued that the current wage growth of the region remains subdued and unable to keep the inflation sustainably within the 2% band. As of writing, the pair of AUD\/USD was up 0.23% to 0.7501.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.12% to $82.18 per barrel as of writing following Iran nuclear talk resurface. According to reports, Iran’s top nuclear negotiator said on Wednesday that Tehran\u2019s talks with six world powers, aimed at reviving its 2015 nuclear deal, will resume by the end of November. On the other hand, gold price rose 0.01% to $1796.25 a troy ounce at the time of writing following dollar retracement.<\/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 \u00a0JPY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoJ Monetary Policy Statement<\/p>\n

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0JPY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoJ Outlook Report (YoY)<\/p>\n

19:45\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB Interest Rate Decision (Oct)<\/p>\n

20:30\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB 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
15:55<\/td>\nEUR – German Unemployment Change (Oct)<\/td>\n-30K<\/td>\n-20K<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR – ECB Interest Rate Decision (Oct)<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – GDP (QoQ) (Q3)<\/td>\n6.70%<\/td>\n2.80%<\/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 retracement from the resistance level 93.85. MACD which illustrate diminishing bullish momentum signal with the formation of death cross suggest the dollar to extend its retracement towards the support level 93.40.<\/p>\n

 <\/p>\n

Resistance level: 93.85, 94.45<\/p>\n

Support level: 93.40, 93.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat while currently testing the resistance level 1.3755. 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: 1.3755, 1.3880<\/p>\n

Support level: 1.3650, 1.3555<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat while currently testing the resistance level 1.1615. However, MACD which illustrate diminishing bearish momentum signal with the starting formation of golden cross suggest the pair to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1615, 1.1680<\/p>\n

Support level: 1.1530, 1.1455<\/p>\n

 <\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level 113.20. 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: 114.60, 115.85<\/p>\n

Support level: 113.20, 112.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded flat while currently testing near the support level 0.7485. However, 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

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Resistance level: 0.7565, 0.7660<\/p>\n

Support level: 0.7485, 0.7410<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded flat while currently testing the support level 0.7155. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher towards the resistance level 0.7230.<\/p>\n

 <\/p>\n

Resistance level: 0.7230, 0.7300<\/p>\n

Support level: 0.7155, 0.7080<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel. However, MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to be traded lower towards the support level 1.2295.<\/p>\n

 <\/p>\n

Resistance level: 1.2410, 1.2500<\/p>\n

Support level: 1.2295, 1.2200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level 0.9215. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its retracement towards the support level 0.9140.<\/p>\n

 <\/p>\n

Resistance level: 0.9215, 0.9295<\/p>\n

Support level: 0.9140, 0.9080<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing near the support level 79.35. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 84.55, 88.40<\/p>\n

Support level: 79.35, 75.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1781.40. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its rebound towards the resistance level 1812.80.<\/p>\n

 <\/p>\n

Resistance level: 1812.80, 1831.50<\/p>\n

Support level: 1781.40, 1748.55<\/p>\n","protected":false},"excerpt":{"rendered":"

28 October 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\u00a0\u00a0\u00a0 Afternoon Session Analysis   Australian dollar rose following upbeat economic data. The Australian dollar which traded against the dollar and other currency pair have rose over the backdrop of upbeat economic data. According to Australian Bureau of Statistic, Australia Consumer Price Index (CPI) in third quarter recorded at the reading of 0.8%, […]<\/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\/206721"}],"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=206721"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/206721\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=206721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=206721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=206721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}