{"id":228242,"date":"2022-02-16T04:06:51","date_gmt":"2022-02-16T04:06:51","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=228242"},"modified":"2022-02-16T04:06:51","modified_gmt":"2022-02-16T04:06:51","slug":"160222-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160222-afternoon-session-analysis\/","title":{"rendered":"160222 Afternoon Session Analysis"},"content":{"rendered":"

16 February 2022\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\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Pound rallied on upbeat economic data.<\/strong><\/span><\/p>\n

The Pound Sterling surged over the backdrop of upbeat economic data yesterday, which dialled up the market optimism toward the economic progression in United Kingdom. According to Office for National Statistics, UK Average Earning Index + Bonus notched up significantly from the previous reading of 4.2% to 4.3%, exceeding the market forecast at 3.8%. Meanwhile, UK Claimant Count Change came in at -31.9K, which also fared better than market expectation at -28.8K. The expected pay rise comes amid persistent signs of tight labour market, combined with face pace of economic recovery following the Covid-19 lockdowns at the start of the pandemic 2020. Besides, easing fears upon the Russian invasion of the Ukraine had stoked a shift in sentiment toward riskier asset, which spurring bullish momentum on the Pound Sterling. As of writing, GBP\/USD appreciated by 0.06% to 1.3540.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.28% to 92.00 per barrel as of writing. The oil market edged lower following bearish inventory data was released. According to American Petroleum Institute (API), US API Weekly Crude Oil Stock came in at -1.076M, missing the market forecast at -1.769M. On the other hand, the gold price depreciated by 0.05% to $1852.20 per troy ounces as of writing amid risk-on sentiment in the global financial market.<\/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\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>\nGBP – CPI (YoY) (Jan)<\/td>\n5.40%<\/td>\n5.40%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core Retail Sales (MoM) (Jan)<\/td>\n-2.30%<\/td>\n0.80%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Retail Sales (MoM) (Jan)<\/td>\n-1.90%<\/td>\n1.80%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD – Core CPI (MoM) (Jan)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-4.756M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 95.95. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains toward resistance level at 96.80.<\/p>\n

 <\/p>\n

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

Support level: 95.95, 94.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3505. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3595.<\/p>\n

 <\/p>\n

Resistance level: 1.3595, 1.3715<\/p>\n

Support level: 1.3505, 1.3450<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1290. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1380.<\/p>\n

 <\/p>\n

Resistance level: 1.1380, 1.1475<\/p>\n

Support level: 1.1290, 1.1235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 115.40. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 116.25.<\/p>\n

 <\/p>\n

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

Support level: 115.40, 114.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7125. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7205<\/p>\n

 <\/p>\n

Resistance level: 0.7205, 0.7270<\/p>\n

Support level: 0.7125, 0.7055<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6710. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6535.<\/p>\n

 <\/p>\n

Resistance level: 0.6710, 0.6865<\/p>\n

Support level: 0.6535, 0.6430<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2625. 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: 1.2825, 1.2950<\/p>\n

Support level: 1.2625, 1.2475<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9270. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

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

Support level: 0.9180, 0.9095<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 91.20. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 91.20, 93.05<\/p>\n

Support level: 88.50, 86.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1870.15. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1847.60.<\/p>\n

 <\/p>\n

Resistance level: 1870.15, 1900.35<\/p>\n

Support level: 1847.60, 1828.00<\/p>\n

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

16 February 2022\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\u00a0\u00a0\u00a0 Afternoon Session Analysis Pound rallied on upbeat economic data. The Pound Sterling surged over the backdrop of upbeat economic data yesterday, which dialled up the market optimism toward the economic progression in United Kingdom. According to Office for National Statistics, UK Average Earning Index + Bonus notched up significantly from the previous […]<\/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\/228242"}],"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=228242"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/228242\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=228242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=228242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=228242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}