{"id":212065,"date":"2021-11-25T06:27:38","date_gmt":"2021-11-25T06:27:38","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=212065"},"modified":"2021-11-25T06:27:38","modified_gmt":"2021-11-25T06:27:38","slug":"251121-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/251121-afternoon-session-analysis\/","title":{"rendered":"251121 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Pound sterling remains weak on Brexit woes.<\/strong><\/p>\n

The pound sterling which traded against the dollar and other currency pairs remain depressed and fell as insufficient progress in Brexit talks continue to shake the market. According to reports from Politico, Brexit talks were currently stalled and achieve no progress. European Commission’s Brexit negotiator Maros Sefcovic marks his disappointment and stated that he may had been \u201ctoo ambitious\u201d about discussion could wrapped up before Christmas. Sefcovic stressed that he was hoping the UK and the EU could still make \u2018decisive progress this week\u2019 on the issue of medicines trade between Great Britain and Northern Ireland, which would \u2018generate positive momentum\u2019 for the rest of the talks\u201d. The lack of positive progress in Brexit negotiations further worsened investor\u2019s sentiment towards the pound sterling, thus dragging its value lower. At the time of writing, GBP\/USD fell 0.06% to 1.3345.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price edge higher 0.03% to $78.47 per barrel as of writing after OPEC stated that a planned coordinated release of reserves may swell a crude surplus expected early next year. According to reports, some of the cartel\u2019s delegates warned this week that releasing strategic reserves may lead to the alliance holding back crude supply in January. On the other hand, gold price rebounds 0.23% to $1792.82 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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Thanksgiving Day<\/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

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB Publishes Account of Monetary Policy Meeting<\/p>\n

21:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nEUR – German GDP (QoQ) (Q3)<\/td>\n1.80%<\/td>\n1.80%<\/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 96.80. MACD which illustrate diminishing bullish momentum signal suggest the dollar to extend its retracement towards the support level 96.15.<\/p>\n

 <\/p>\n

Resistance level: 96.80, 97.55<\/p>\n

Support level: 96.15, 95.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level 1.3315. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.3430.<\/p>\n

 <\/p>\n

Resistance level: 1.3430, 1.3550<\/p>\n

Support level: 1.3315, 1.3195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level 1.3315. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.3430.<\/p>\n

 <\/p>\n

Resistance level: 1.3430, 1.3555<\/p>\n

Support level: 1.3315, 1.3195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following recent breakout above the previous resistance level 114.60. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction in short term towards the support level 114.60.<\/p>\n

 <\/p>\n

Resistance level: 115.85, 116.95<\/p>\n

Support level: 114.60, 113.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level 0.7175. However, MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to experience a technical correction in short term towards the resistance level 0.7260.<\/p>\n

 <\/p>\n

Resistance level: 0.7260, 0.7365<\/p>\n

Support level: 0.7175, 0.7105<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level 0.6905. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience a technical correction in short term back towards the level 0.6905.<\/p>\n

 <\/p>\n

Resistance level: 0.6905, 0.6980<\/p>\n

Support level: 0.6815, 0.6725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the support level 1.2615. 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: 1.2765, 1.2865<\/p>\n

Support level: 1.2615, 1.2505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, <\/strong>H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level 0.9360. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.9300.<\/p>\n

 <\/p>\n

Resistance level: 0.9360, 0.9410<\/p>\n

Support level: 0.9300, 0.9225<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded flat while currently testing near the resistance level 79.15. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower towards the support level 76.30.<\/p>\n

 <\/p>\n

Resistance level: 79.15, 81.40<\/p>\n

Support level: 76.30, 73.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1778.60. MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 1807.85.<\/p>\n

 <\/p>\n

Resistance level: 1807.85, 1831.50<\/p>\n

Support level: 1778.60, 1748.55<\/p>\n","protected":false},"excerpt":{"rendered":"

25 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 Afternoon Session Analysis   Pound sterling remains weak on Brexit woes. The pound sterling which traded against the dollar and other currency pairs remain depressed and fell as insufficient progress in Brexit talks continue to shake the market. According to reports from Politico, Brexit talks were currently stalled and achieve no progress. […]<\/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\/212065"}],"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=212065"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/212065\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=212065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=212065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=212065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}