{"id":263627,"date":"2022-08-09T05:01:57","date_gmt":"2022-08-09T05:01:57","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=263627"},"modified":"2022-08-09T05:01:57","modified_gmt":"2022-08-09T05:01:57","slug":"090822-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090822-afternoon-session-analysis\/","title":{"rendered":"090822 Afternoon Session Analysis"},"content":{"rendered":"

9 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

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Sentiment in Pound market remains sour.<\/strong><\/span><\/p>\n

The Pound Sterling, which is widely traded by global investors, lingered near the lowest level since the outbreak of Covid-19 in March 2020. The majority of the market participants are still holding a pessimistic view toward the economic outlook of the UK amid the political uncertainty, where the New prime minister is still undecided yet. According to the latest news, Conservative MPS have chosen the final two British candidates, whereby the former Treasury secretary Rishi Sunak and the current foreign secretary Liz Truss is vying to succeed Boris Johnson. As of now, the candidates will continue with their election campaign, where Sunak and Truss will travel the country to make a series of speeches in order to gain support from the members of the Conservative party in the UK. According to the polls, it indicates that Rishi Sunak is in the “best place” to win over the United Kingdom in the upcoming election. The new prime minister is expected to be elected during the first week of September. As of writing, the pair of GBP\/USD rose 0.02% to 1.2080.<\/p>\n

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In the commodities market, the crude oil price was down 0.36% to $90.30 a barrel amid the heightening of geopolitical tensions between the US and China continued to threaten the demand outlook of the commodity. Besides, the gold prices dropped -0.21% to $1785.40 per troy ounce after surging for $20 yesterday amid the ongoing tensions between the US and China.<\/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\/A<\/p>\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 upward trendline. MACD which illustrated diminishing bearish momentum suggests the index to extend its gains toward the resistance level at 107.15.<\/p>\n

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Resistance level: 107.15, 107.60<\/p>\n

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

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GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2035. However, MACD which illustrated diminishing bullish momentum suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 1.2175, 1.2355<\/p>\n

Support level: 1.2035, 1.1900<\/p>\n

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EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.0155. However, MACD which illustrated diminishing bullish momentum suggest the pair to undergo short term technical correction.<\/p>\n

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

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

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USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level at 135.25. 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: 135.25, 136.65<\/p>\n

Support level: 133.15, 131.35<\/p>\n

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\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6985. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

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

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

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\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6245. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.6360.<\/p>\n

 <\/p>\n

Resistance level: 0.6360, 0.6430<\/p>\n

Support level: 0.6245, 0.6140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2925. \u00a0MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses toward the support level at 1.2805.<\/p>\n

 <\/p>\n

Resistance level: 1.2925, 1.2985<\/p>\n

Support level: 1.2805, 1.2730<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9520. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9590, 0.9675<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 89.70. MACD which illustrated ongoing bullish momentum suggests the commodity to extend its gains toward the resistance level at 91.80.<\/p>\n

 <\/p>\n

Resistance level: 91.80, 93.15<\/p>\n

Support level: 89.70, 87.30<\/p>\n

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\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1783.20. MACD which illustrated diminishing bullish momentum suggest the commodity to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 1829.75, 1867.35<\/p>\n

Support level: 1783.20, 1770.05<\/p>\n

 <\/p>\n

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

9 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   Sentiment in Pound market remains sour. The Pound Sterling, which is widely traded by global investors, lingered near the lowest level since the outbreak of Covid-19 in March 2020. The majority of the market participants are still holding a pessimistic view toward the economic outlook of the 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\/263627"}],"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=263627"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/263627\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=263627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=263627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=263627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}