{"id":215898,"date":"2021-12-13T06:52:52","date_gmt":"2021-12-13T06:52:52","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=215898"},"modified":"2021-12-13T06:52:52","modified_gmt":"2021-12-13T06:52:52","slug":"131221-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131221-afternoon-session-analysis\/","title":{"rendered":"131221 Afternoon Session Analysis"},"content":{"rendered":"

13 December 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

Euro remains weak on dovish stance from ECB.<\/strong><\/span><\/p>\n

The euro which traded against the dollar and other currency pairs remains pressured and fell following news of ECB plan to extend its loose monetary policy. According to sources from Bloomberg, ECB policymakers are leaning towards a temporary increase in the regular bond purchase scheme that would still significantly reduce overall debt buys once a much larger pandemic-fighting scheme ends in March. While the details of this boost are still open, the sources said that the ECB could do one of two things. It could approve a purchase envelope until the end of the year, with the caveat that not all of it must be spent. The plan is expected to be discussed at a meeting of the Governing Council on Dec. 16. On top of that, some ECB members also make clear that the purchases will remain until at least the end of 2022 and suggest that the rate hike is highly unlikely as long as bond purchase continues. At the time of writing, EUR\/USD fell 0.12% to 1.1296.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 1.04% to $72.60 per barrel as of writing amid rising prospect of fuel demand. Market sentiment continue to improve with growing optimism that the Omicron variant\u2019s impact will be limited on global economic growth and fuel demand. South African scientists see no sign that the Omicron variant is causing more severe illness. On the other hand, gold price rose 0.19% to $1786.05 a troy ounce at the time of writing following dollar weakness.<\/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 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\/A<\/p>\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 at 96.35. MACD which illustrate increasing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 96.35, 96.80<\/p>\n

Support level: 95.65, 94.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3195. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3355, 1.3505<\/p>\n

Support level: 1.3195, 1.3050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded within a range while currently near the resistance level at 1.1370. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1370, 1.1530<\/p>\n

Support level: 1.1175, 1.1010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the support level at 112.80. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 114.40.<\/p>\n

 <\/p>\n

Resistance level: 114.40, 115.40<\/p>\n

Support level: 112.80, 112.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7175. MACD which illustrate increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7175, 0.7280<\/p>\n

Support level: 0.6995, 0.6825<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6815. MACD which illustrate bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6815, 0.6950<\/p>\n

Support level: 0.6640, 0.6530<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2720. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2720, 1.2825<\/p>\n

Support level: 1.2645, 1.2585<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9200. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.9260.<\/p>\n

 <\/p>\n

Resistance level: 0.9260, 0.9315<\/p>\n

Support level: 0.9200, 0.9155<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 72.65. MACD which illustrate diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 72.65, 75.10<\/p>\n

Support level: 69.15, 65.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1790.00. MACD which illustrate increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1790.00, 1811.50<\/p>\n

Support level: 1762.20, 1729.60<\/p>\n","protected":false},"excerpt":{"rendered":"

13 December 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   Euro remains weak on dovish stance from ECB. The euro which traded against the dollar and other currency pairs remains pressured and fell following news of ECB plan to extend its loose monetary policy. According to sources from Bloomberg, ECB policymakers are leaning towards a temporary increase in […]<\/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\/215898"}],"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=215898"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/215898\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=215898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=215898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=215898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}