{"id":221482,"date":"2022-01-10T03:49:27","date_gmt":"2022-01-10T03:49:27","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=221482"},"modified":"2022-01-10T03:49:27","modified_gmt":"2022-01-10T03:49:27","slug":"100122-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100122-afternoon-session-analysis\/","title":{"rendered":"100122 Afternoon Session Analysis"},"content":{"rendered":"

10 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Canada Dollar surged amid upbeat data.<\/strong><\/span><\/p>\n

The Canada Dollar surged over the backdrop of a string of bullish economic data. According to Statistics Canada, Canada Employment Change came in at 54.7K, exceeding the market forecast of 27.5K. Besides, the spiking inflation risk in future would prompt the institutional investors to purchase more commodities product in order to hedge against the risk, which spurring positive prospect toward the major producers of commodities such as Canada. On the monetary policy front, investors speculated the Bank of Canada would increase their interest rate at least five times in the year of 2022. Contractionary monetary policy as well as higher interest rate in future would diminish the money circulation of the Canada Dollar in the global financial market, spurring bullish momentum for the currency. As of writing, USD\/CAD depreciated by 0.01% to 1.2640.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.03% to $79.00 per barrel as of writing. The oil market edged lower amid rapidly rising cases of Omicron variant continue to weigh down the prospect for this black-commodity. Nonetheless, investors would continue to scrutinize the latest updates with regards of the hospitalization and death rate due to the Covid-19 variant to receive further trading signal. On the other hand, the gold price appreciated by 0.05% to $1793.40 per troy ounces as of writing amid weakening US Dollar following the United States released the bearish Nonfarm Payroll data.<\/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\/A
\n<\/u><\/strong><\/p>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing the support level at 95.70. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 96.90, 97.50<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3590. MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3590, 1.3700<\/p>\n

Support level: 1.3490, 1.3360<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1345. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1345, 1.1440<\/p>\n

Support level: 1.1235, 1.1175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 116.25. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 116.25, 117.50<\/p>\n

Support level: 115.05, 114.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7165. MACD which illustrated bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7265, 0.7365<\/p>\n

Support level: 0.7165, 0.6995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6840. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6710.<\/p>\n

 <\/p>\n

Resistance level: 0.6840, 0.6920<\/p>\n

Support level: 0.6710, 0.6570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, <\/strong>H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2625. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2825, 1.2940<\/p>\n

Support level: 1.2625, 1.2520<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9175. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9260.<\/p>\n

 <\/p>\n

Resistance level: 0.9260, 0.9345<\/p>\n

Support level: 0.9175, 0.9105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 78.05. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 81.25, 83.65<\/p>\n

Support level: 78.05, 75.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1786.30. However, MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1809.95.<\/p>\n

 <\/p>\n

Resistance level: 1809.95, 1830.55<\/p>\n

Support level: 1762.20, 1786.30<\/p>\n

\u00a0<\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

10 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Canada Dollar surged amid upbeat data. The Canada Dollar surged over the backdrop of a string of bullish economic data. According to Statistics Canada, Canada Employment Change came in at 54.7K, exceeding the market forecast of 27.5K. Besides, the spiking inflation risk in future would prompt the institutional investors […]<\/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\/221482"}],"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=221482"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/221482\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=221482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=221482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=221482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}