{"id":211083,"date":"2021-11-22T01:18:46","date_gmt":"2021-11-22T01:18:46","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=211083"},"modified":"2021-11-22T01:18:46","modified_gmt":"2021-11-22T01:18:46","slug":"221121-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/221121-morning-session-analysis\/","title":{"rendered":"221121 Morning Session Analysis"},"content":{"rendered":"

22 November 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound Sterling dipped amid stronger US dollar.<\/strong><\/span><\/p>\n

The Pound Sterling was traded lower amid firmer US dollar. Previously, the better-than-expected US retail sales data has spurred a positive prospect toward US dollar as investors strongly speculated that Fed will initiate its interest rate hike earlier. On the other hand, according to Office for National Statistics, U.K. Retail Sales in October came at the reading of 0.8%, exceeding market forecast at 0.5%. According to TheEdgeMarkets, the higher British retail sales were driven by sale of Auction houses and purchases of new clothes for the Christmas holidays. As for now, the inflation in British has risen to a 10-year high while the labor data has not pointed towards higher unemployment after the end of the furlough scheme. Investor would continue to scrutinize on further UK labor data since overall wage growth after furlough scheme is the key concern by BOE to initiate its contractionary monetary policy. As of writing, the pair of GBP\/USD slumped 0.08% to 1.3430.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price was down 0.56% to $75.32 per barrel as of writing amid negative demand outlook. Domestic fuel retails reported that they may slash their oil prices as international crude oil prices declined over demand concerns due to the resurgence of Covid-19 cases in Europe. On the other hand, the gold price slumped 0.14% to $1843.60 per troy ounces amid strengthening 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
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 (Oct)<\/td>\n54.1<\/td>\n54.1<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – Existing Home Sales (Oct)<\/td>\n6.29M<\/td>\n6.20M<\/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 higher following prior rebound from 95.75. MACD which shows diminished downward momentum suggests the index to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 96.15, 96.50<\/p>\n

Support level: 95.75, 95.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior closure below 1.3470. MACD which illustrate bearish signal suggests the pair to extend its losses in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.3470, 1.3540<\/p>\n

Support level: 1.3410, 1.3360<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior closure below 1.1285. MACD which begins to form bearish signal suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.1285, 1.1370<\/p>\n

Support level: 1.1210, 1.1140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 114.25, 114.90<\/p>\n

Support level: 113.60, 112.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior closure below 0.7260. MACD which illustrate bearish signal suggests the pair to be traded lower after closing below 0.7220.<\/p>\n

 <\/p>\n

Resistance level: 0.7260, 0.7320<\/p>\n

Support level: 0.7220, 0.7170<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior closure below 0.7030. MACD which illustrate bearish signal suggests the pair to be traded lower after closing below 0.6985.<\/p>\n

 <\/p>\n

Resistance level: 0.7030, 0.7070<\/p>\n

Support level: 0.6985, 0.6935<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from lower level. However, MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2660, 1.2725<\/p>\n

Support level: 1.2590, 1.2535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded higher following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 0.9295.<\/p>\n

 <\/p>\n

Resistance level: 0.9295, 0.9325<\/p>\n

Support level: 0.9260, 0.9230<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior closure below 76.35. However, MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 76.35, 78.35<\/p>\n

Support level: 76.35, 71.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from lower level. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1847.00, 1863.30<\/p>\n

Support level: 1835.75, 1813.50<\/p>\n","protected":false},"excerpt":{"rendered":"

22 November 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 Morning Session Analysis   Pound Sterling dipped amid stronger US dollar. The Pound Sterling was traded lower amid firmer US dollar. Previously, the better-than-expected US retail sales data has spurred a positive prospect toward US dollar as investors strongly speculated that Fed will initiate its interest rate hike earlier. On the other […]<\/p>\n","protected":false},"author":25,"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\/211083"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=211083"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/211083\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=211083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=211083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=211083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}