{"id":260069,"date":"2022-07-25T04:13:04","date_gmt":"2022-07-25T04:13:04","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=260069"},"modified":"2022-07-25T04:13:04","modified_gmt":"2022-07-25T04:13:04","slug":"250722-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250722-afternoon-session-analysis\/","title":{"rendered":"250722 Afternoon Session Analysis"},"content":{"rendered":"

25 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

A series of upbeat data ignited optimism in Pound market.<\/strong><\/span><\/p>\n

The British Pound, which was majorly traded by the global investors, jumped as a series of positive economic data showed that the economic condition in UK remains bright and resilient. According to the Office for National Statistics, UK Retail Sales data increased from the prior month reading of -0.8% to -0.1%, while stronger than the consensus forecast at -0.3%. It indicated that the deterioration of the consumer spending in UK has eased slightly. Besides, other data such as UK Composite PMI, Manufacturing PMI and Services PMI also came in at a reading which higher than the consensus forecast respectively, where it further cemented the view that UK economic condition has started to turn around from the worst. With such as backdrop, it has lit up the market expectation on aggressive rate hike by Bank of England in the upcoming meeting. As of writing, the pair of GBP\/USD dropped -0.09% to 1.1991.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price up 1.75% to $93.75 a barrel after the European Union allow Russian state-owned companies to ship oil to third countries, which would help to ease the global oil supply tightness. Besides, the gold prices up 0.06% to $1726.80 a troy ounce amid weakening of dollar index.<\/p>\n

\u00a0<\/u><\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 German Ifo Business Climate Index (Jul)<\/td>\n92.3<\/td>\n90.2<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower while currently testing the support level at 106.10. MACD which illustrated increasing bearish momentum suggests the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 107.60, 108.50<\/p>\n

Support level: 106.10, 105.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2035. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.1900.<\/p>\n

 <\/p>\n

Resistance level: 1.2035, 1.2175<\/p>\n

Support level: 1.1900, 1.1800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.0155. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.0265.<\/p>\n

 <\/p>\n

Resistance level: 1.0265, 1.0370<\/p>\n

Support level: 1.0155, 1.0075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 136.65. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 136.65, 137.60<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6985. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6855.<\/p>\n

 <\/p>\n

Resistance level: 0.6985, 0.7115<\/p>\n

Support level: 0.6855, 0.6725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6245. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6140.<\/p>\n

 <\/p>\n

Resistance level: 0.6245, 0.6360<\/p>\n

Support level: 0.6140, 0.6050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.2910. \u00a0MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2975.<\/p>\n

 <\/p>\n

Resistance level: 1.2975, 1.3050<\/p>\n

Support level: 1.2910, 1.2835<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the upward trendline. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9675.<\/p>\n

 <\/p>\n

Resistance level: 0.9675, 0.9755<\/p>\n

Support level: 0.9590, 0.9520<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower following prior retracement from the resistance \u00a0level at 98.20. MACD which illustrated bearish bias momentum suggests the commodity to extend its losses toward the support level at 91.80.<\/p>\n

 <\/p>\n

Resistance level: 98.20, 100.10<\/p>\n

Support level: 91.80, 89.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher while currently testing the resistance level at 1729.25. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1729.25, 1783.20<\/p>\n

Support level: 1707.90, 1678.80<\/p>\n","protected":false},"excerpt":{"rendered":"

25 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 Afternoon Session Analysis   A series of upbeat data ignited optimism in Pound market. The British Pound, which was majorly traded by the global investors, jumped as a series of positive economic data showed that the economic condition in UK remains bright and resilient. According to the Office for National Statistics, UK […]<\/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\/260069"}],"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=260069"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/260069\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=260069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=260069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=260069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}