{"id":255291,"date":"2022-07-01T03:44:24","date_gmt":"2022-07-01T03:44:24","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=255291"},"modified":"2022-07-01T03:44:24","modified_gmt":"2022-07-01T03:44:24","slug":"010722-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/010722-afternoon-session-analysis\/","title":{"rendered":"010722 Afternoon Session Analysis"},"content":{"rendered":"

1 July 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

The Canadian dollar lingered as market sentiment mixed.<\/strong><\/span><\/p>\n

The Canadian dollar, which was traded by the majority of the traders, hovered near the level of 1.2875 after Canada released its GDP data yesterday night. According to Statistics Canada, the GDP data commonly used to gauge the economic growth in Canada came in at 0.3%, as widely expected. Following the release of the data, the Canadian dollar notched up, before falling quite a fair bit amid the downbeat economic growth expectation from the agency. The agency said the growth estimate for May pointed to a contraction for the month amid the weakness in the resource, manufacturing and construction sectors, where a contraction of about -0.2% is recked to happen. However, the primary trend of the pair of USD\/CAD is still dominated by the Fed rate hike story. As of writing, the pair of USD\/CAD up 0.12% to 1.2888.<\/p>\n

In the commodities market, the crude oil price was up by 0.05% to $106.05 after falling tremendously throughout the overnight session amid the increase in oil production of OPEC+ despite tight oil supply.\u00a0 Besides, the gold prices dropped 0.10% to $1805.40 a troy ounce amid the strengthening of the dollar index.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 Canada Day<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:55<\/td>\nEUR – German Manufacturing PMI (Jun)<\/td>\n52.0<\/td>\n52.0<\/td>\n–<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Manufacturing PMI (Jun)<\/td>\n53.4<\/td>\n53.4<\/td>\n–<\/strong><\/td>\n<\/tr>\n
17:00<\/td>\nEUR – CPI (YoY) (Jun)<\/td>\n8.1%<\/td>\n8.3%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Manufacturing PMI (Jun)<\/td>\n56.1<\/td>\n55.0<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the support level at 104.45. However, MACD which illustrated diminishing bullish momentum suggest the index to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 105.20, 105.70<\/p>\n

Support level: 104.45, 104.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2175. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.1980.<\/p>\n

 <\/p>\n

Resistance level: 1.2175, 1.2370<\/p>\n

Support level: 1.1980, 1.1800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the upward trendline. However, MACD which illustrated bearish bias momentum suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 1.0500, 1.0640<\/p>\n

Support level: 1.0370, 1.0300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the support level at 135.25. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 135.25.<\/p>\n

 <\/p>\n

Resistance level: 136.65, 138.00<\/p>\n

Support level: 135.25, 133.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6850. However, MACD which illustrated diminishing bearish momentum suggest the pair to undergo technical rebound in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.6945, 0.7010<\/p>\n

Support level: 0.6850, 0.6790<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6225. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 0.6225.<\/p>\n

 <\/p>\n

Resistance level: 0.6285, 0.6365<\/p>\n

Support level: 0.6225, 0.6145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the upward trendline. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2910.<\/p>\n

 <\/p>\n

Resistance level: 1.2910, 1.2975<\/p>\n

Support level: 1.2835, 1.2775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9520. However, MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9590.<\/p>\n

 <\/p>\n

Resistance level: 0.9590, 0.9665<\/p>\n

Support level: 0.9520, 0.9450<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower while currently testing the upward trendline. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses after it successfully breakout below the upward trendline.<\/p>\n

 <\/p>\n

Resistance level: 106.60, 110.50<\/p>\n

Support level: 101.85, 98.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1808.30. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses toward the support level at 1792.30.<\/p>\n

 <\/p>\n

Resistance level: 1808.30, 1832.95<\/p>\n

Support level: 1792.30, 1765.40<\/p>\n","protected":false},"excerpt":{"rendered":"

1 July 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 Afternoon Session Analysis   The Canadian dollar lingered as market sentiment mixed. The Canadian dollar, which was traded by the majority of the traders, hovered near the level of 1.2875 after Canada released its GDP data yesterday night. According to Statistics Canada, the GDP data commonly used to gauge the economic growth […]<\/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\/255291"}],"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=255291"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/255291\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=255291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=255291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=255291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}