{"id":222004,"date":"2022-01-12T05:44:18","date_gmt":"2022-01-12T05:44:18","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=222004"},"modified":"2022-01-12T05:44:18","modified_gmt":"2022-01-12T05:44:18","slug":"120122-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120122-afternoon-session-analysis\/","title":{"rendered":"120122 Afternoon Session Analysis"},"content":{"rendered":"

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

Euro surged amid rate hike expectation from ECB.<\/strong><\/span><\/p>\n

The Euro surged over the backdrop of hawkish tone from the European Central Bank (ECB) on yesterday. According to Reuters, ECB President Christine Lagarde claimed on Tuesday that the European Central Bank would continue to monitor on significant level of inflation rate in future. Economist worried that the face pace of price rises could persist longer than expectation amid supply bottlenecks as well as higher energy costs in the global economy. If the inflation rate continues to exceed the expectation, the European Central Bank vowed to implement contractionary monetary policy as well as increase the interest rate in future in order to stabilize the inflation rate. As of writing, EUR\/USD appreciated by 0.10% to 1.1375.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.04% to $81.45 per barrel as of writing. The oil market edged lower amid the bearish inventory data had weigh down the prospect for the crude oil demand. According to American Petroleum Institute, U.S. API Weekly Crude Oil Stock came in at -1.077M, missing the market forecast at -1.950M. On the other hand, the gold price surged 0.01% to $1818.60 per troy ounces as of writing amid weakening 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
21:30<\/td>\nUSD – Core CPI (MoM) (Dec)<\/td>\n0.50%<\/td>\n0.50%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-2.144M<\/td>\n–<\/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 while currently testing the support level at 95.50. MACD which illustrated increasing bearish momentum suggest the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 96.80, 97.50<\/p>\n

Support level: 95.50, 94.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, dAILY: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3595. 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: 1.3700, 1.3820<\/p>\n

Support level: 1.3595, 1.3490<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1380. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1380, 1.1530<\/p>\n

Support level: 1.1235, 1.1105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the support level at 115.05. 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: 116.25, 117.50<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7165. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.7265.<\/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 higher following prior rebound from the support level at 0.6710. 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: 0.6840, 0.6920<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/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: 1.2625, 1.2825<\/p>\n

Support level: 1.2520, 1.2440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9270. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9175.<\/p>\n

 <\/p>\n

Resistance level: 0.9270, 0.9345<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 78.10. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 82.50.<\/p>\n

 <\/p>\n

Resistance level: 82.50, 84.85<\/p>\n

Support level: 79.10, 75.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1820.45. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1820.45, 1830.55<\/p>\n

Support level: 1799.05, 1786.30<\/p>\n

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

12 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Euro surged amid rate hike expectation from ECB. The Euro surged over the backdrop of hawkish tone from the European Central Bank (ECB) on yesterday. According to Reuters, ECB President Christine Lagarde claimed on Tuesday that the European Central Bank would continue to monitor on significant level of inflation […]<\/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\/222004"}],"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=222004"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/222004\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=222004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=222004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=222004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}