{"id":261998,"date":"2022-08-02T05:42:43","date_gmt":"2022-08-02T05:42:43","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=261998"},"modified":"2022-08-02T05:42:43","modified_gmt":"2022-08-02T05:42:43","slug":"020822-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/020822-afternoon-session-analysis\/","title":{"rendered":"020822 Afternoon Session Analysis"},"content":{"rendered":"

2 August 2022\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

Euro gains limited over the downbeat manufacturing data.<\/strong><\/span><\/p>\n

The EUR\/USD which traded by majority of investors edged up on yesterday amid the slump of US Dollar. Nonetheless, the gains of Euro was limited after the Eurozone manufacturing data unleashed. According to Markit Economics, the Germany Manufacturing Purchasing Managers Index (PMI) for July came in at the reading of 49.3, higher than the market expectation of 49.2. The reading which lower than 50 indicated that the contraction in Germany manufacturing sector, which spurred bearish momentum on the Euro. Besides that, although GBP\/USD rose significantly following the depreciation of US Dollar, the gains experienced by Pound Sterling was limited over the bearish manufacturing data. The UK Manufacturing Purchasing Managers Index (PMI) for July notched down from the previous reading of 52.8 to 52.1, missing the consensus forecast of 52.2. The pessimistic economy outlook in UK had stoked a shift in sentiment toward safe-haven assets such as gold. As of writing, EUR\/USD rallied by 0.10% to 1.0272 as well as GBP\/USD appreciated by 0.09% to 1.2258.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.98% to $92.94 per barrel as of writing following the weakening manufacturing data had raised the market concerns upon global economy slowdown, which suppress the demand of oil. In addition, the gold price appreciated by 0.21% to $1791.50 per troy ounce as of writing over the slip 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

N\/A<\/p>\n

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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
22:00<\/td>\nUSD – JOLTs Job Openings (Jun)<\/td>\n11.254M<\/td>\n11.000M<\/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, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the index to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 105.25, 106.30<\/p>\n

Support level: 104.45, 103.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD 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

 <\/p>\n

Resistance level: 1.2320, 1.2485<\/p>\n

Support level: 1.2170, 1.2030<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout the previous resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains.<\/p>\n

 <\/p>\n

Resistance level: 1.0315, 1.0385<\/p>\n

Support level: 1.0230, 1.0160<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY 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

 <\/p>\n

Resistance level: 131.65, 133.10<\/p>\n

Support level: 130.40, 129.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses if successfully breakout the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7075, 0.7145<\/p>\n

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

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 0.6350, 0.6405<\/p>\n

Support level: 0.6295, 0.6235<\/p>\n

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\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.2935, 1.3030<\/p>\n

Support level: 1.2825, 1.2700<\/p>\n

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\"\"<\/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

 <\/p>\n

Resistance level: 0.9520, 0.9595<\/p>\n

Support level: 0.9455, 0.9380<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 93.55, 97.70<\/p>\n

Support level: 88.40, 84.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold 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: 1777.70, 1787.50<\/p>\n

Support level: 1766.55, 1753.25<\/p>\n","protected":false},"excerpt":{"rendered":"

2 August 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Euro gains limited over the downbeat manufacturing data. The EUR\/USD which traded by majority of investors edged up on yesterday amid the slump of US Dollar. Nonetheless, the gains of Euro was limited after the Eurozone manufacturing data unleashed. According to Markit Economics, the Germany Manufacturing Purchasing Managers Index […]<\/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\/261998"}],"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=261998"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/261998\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=261998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=261998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=261998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}