{"id":232316,"date":"2022-03-08T05:28:21","date_gmt":"2022-03-08T05:28:21","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=232316"},"modified":"2022-03-08T05:28:21","modified_gmt":"2022-03-08T05:28:21","slug":"080322-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080322-afternoon-session-analysis\/","title":{"rendered":"080322 Afternoon Session Analysis"},"content":{"rendered":"

08 March 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Euro slumped amid supply disruption spurred stagflation risk.\u00a0<\/strong><\/span><\/p>\n

The Euro extends its losses over the backdrop of intensified tensions between Russia-Ukraine continue to spark negative prospect toward the economic in European region. Market participants continue to speculate that the global supply shortage due to the implementation of sanction would continue to push up the commodities prices in future, leading to stagflation risk for the European countries. Nonetheless, the European Central Bank would be meeting on Thursday to discuss about the monetary policy plan. As for now investors would continue to focus on the monetary policy meeting progress to receive further trading signal. On the other hand, the Japanese Yen slumped over the backdrop of bearish economic data. According to Ministry of Finance, Japan Current Account notched down significantly from the previous reading of -0.371T to -1.189T, missing the market forecast at \u20130.880T. As of writing, the EUR\/USD depreciated by 0.03% to 1.0880 while USD\/JPY surged 0.14% to 115.45.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 1.26% to $120.20 per barrel as of writing amid technical correction following it reached recent high. On the other hand, the gold price depreciated by 0.58% to $1986.40 per troy ounces as of writing amid strengthening US Dollar with rate hike expectation from Fed.<\/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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the index to extend its gains toward resistance level at 100.25.<\/p>\n

 <\/p>\n

Resistance level: 100.25, 101.20<\/p>\n

Support level: 98.85, 97.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3095. 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: 1.3190, 1.3290<\/p>\n

Support level: 1.3095, 1.2985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from higher level. 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: 1.0945, 1.1075<\/p>\n

Support level: 1.0820, 1.0690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 114.60. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 115.65.<\/p>\n

 <\/p>\n

Resistance level: 115.65, 116.25<\/p>\n

Support level: 114.60, 113.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7410. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses towards support level at 0.7285.<\/p>\n

 <\/p>\n

Resistance level: 0.7410, 0.7525<\/p>\n

Support level: 0.7285, 0.7180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from lower levels. 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: 0.6895, 0.7050<\/p>\n

Support level: 0.6715, 0.6535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2805. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout.<\/p>\n

 <\/p>\n

Resistance level: 1.2805, 1.2875<\/p>\n

Support level: 1.2705, 1.2635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, <\/strong>Daily: <\/strong>USDCHF was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

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

Support level: 0.9175, 0.9095<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from lower levels. However, MACD which illustrated increasing bearish momentum suggest the commodity to be traded lower amid technical correction.<\/p>\n

 <\/p>\n

Resistance level: 122.80, 132.55<\/p>\n

Support level: 115.85, 106.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower while currently testing the support level at 1979.40. 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: 2001.45, 2025.95<\/p>\n

Support level: 1979.40, 1967.90<\/p>\n

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

08 March 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Euro slumped amid supply disruption spurred stagflation risk.\u00a0 The Euro extends its losses over the backdrop of intensified tensions between Russia-Ukraine continue to spark negative prospect toward the economic in European region. Market participants continue to speculate that the global supply shortage due to the implementation of sanction would […]<\/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\/232316"}],"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=232316"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/232316\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=232316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=232316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=232316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}