{"id":254676,"date":"2022-06-29T06:21:13","date_gmt":"2022-06-29T06:21:13","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=254676"},"modified":"2022-06-29T06:21:13","modified_gmt":"2022-06-29T06:21:13","slug":"290622-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290622-afternoon-session-analysis\/","title":{"rendered":"290622 Afternoon Session Analysis"},"content":{"rendered":"

29 June 2022\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

EURUSD slumped after the speech of ECB President. <\/strong><\/span><\/p>\n

The EURUSD retreated from its overnight gains after European Central Bank (ECB) President Lagarde release her speech. According to her speech, she emphasized that the rising commodities price such as crude oil was the main factor to cause inflation risk in Euro area. As Europe was large dependent on the commodities, the war-driven inflation had led to the soaring import cost in Europe while it brought negative prospects toward the economic progression in Europe region. Besides, Euro extended it losses following the hawkish tone from New York Federal Reserve President John Williams, which prompting investors to shift their capitals toward US Dollar which having better prospects. At this juncture, investors would continue to focus on the latest updates with regards of ECB President\u2019s speech tonight in order to gauge the likelihood movement of EURUSD. As of writing, EURUSD appreciated by 0.10% to 1.0528.<\/p>\n

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In the commodities market, crude oil price eased by 0.66% to $111.01 per barrel as of writing. Nonetheless, the overall trend of oil price remained bullish over the global supply tightness, where there is limited room for major producers such as Saudi Arabia to boost production. On the other hand, gold price appreciated by 0.02% to $1821.70 per troy ounce as of writing after a sharp decline throughout the overnight session amid the strengthening of US Dollar.<\/p>\n

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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

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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

21:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Speaks<\/p>\n

21:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Lagarde Speaks<\/p>\n

21:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoE Gov Bailey Speaks<\/p>\n

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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
20:30<\/td>\nUSD – GDP (QoQ) (Q1)<\/td>\n-1.5%<\/td>\n-1.5%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n1.956M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior rebound from the support level. MACD which illustrated decreasing bearish momentum suggest the index to extend its gains.<\/p>\n

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Resistance level: 104.80, 105.90<\/p>\n

Support level: 103.65, 102.50<\/p>\n

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

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

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Resistance level: 1.2270, 1.2360<\/p>\n

Support level: 1.2190, 1.2115<\/p>\n

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

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 1.0530, 1.0605<\/p>\n

Support level: 1.0450, 1.0385<\/p>\n

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

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USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level. However, MACD which illustrated decreasing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

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Resistance level: 136.65, 137.35<\/p>\n

Support level: 135.55, 134.25<\/p>\n

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

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AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 0.6930, 0.7005<\/p>\n

Support level: 0.6850, 0.6770<\/p>\n

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

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound form the support level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains.<\/p>\n

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Resistance level: 0.6295, 0.6350<\/p>\n

Support level: 0.6235, 0.6145<\/p>\n

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

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USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

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Resistance level: 1.2875, 1.2940<\/p>\n

Support level: 1.2800, 1.2730<\/p>\n

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

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

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Resistance level: 0.9595, 0.9675<\/p>\n

Support level: 0.9520, 0.9455<\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level. MACD which illustrated decreasing bullish momentum suggest the commodity to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 111.35, 115.95<\/p>\n

Support level: 107.60, 103.30<\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level. MACD which illustrated decreasing bearish momentum suggest the commodity to extend its gains.<\/p>\n

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Resistance level: 1829.90, 1841.85<\/p>\n

Support level: 1819.70, 1807.95<\/p>\n

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

29 June 2022\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 EURUSD slumped after the speech of ECB President. The EURUSD retreated from its overnight gains after European Central Bank (ECB) President Lagarde release her speech. According to her speech, she emphasized that the rising commodities price such as crude oil was the main factor to cause inflation risk in […]<\/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\/254676"}],"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=254676"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/254676\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=254676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=254676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=254676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}