{"id":274118,"date":"2022-09-27T03:58:11","date_gmt":"2022-09-27T03:58:11","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=274118"},"modified":"2022-09-27T03:58:11","modified_gmt":"2022-09-27T03:58:11","slug":"270922-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/270922-afternoon-session-analysis\/","title":{"rendered":"270922 Afternoon Session Analysis"},"content":{"rendered":"

27 September 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

Pound rebounded on rate hike expectation from BoE.<\/strong><\/span><\/p>\n

The Pound Sterling rebounded from an all-time low against the Greenback on Monday following the Bank of England (BoE) unleashed their hawkish tone to shore up the battered of Pound Sterling. According to CNBC, the BOE governor claimed that the Monetary Policy Committee (MPC) would make a \u201cfull assessment\u201d at its next monetary policy meeting in November while reiterating to act accordingly to stabilize the significant depreciation of Pound Sterling as well as the inflation risk. As for now, the money markets priced in more than 200 basis point rate hike from Bank of England (BoE) during the next monetary policy meeting in November, four times higher compare to its last hike. Earlier, the announcement by the Prime Minister Liz Truss\u2019 administration with regards of a significant tax cuts had sent the Pound Sterling to slump significantly, which prompting the Pound Sterling to be weakened by more than 20% against US Dollar this year. As of writing, GBP\/USD appreciated by 0.89% to 1.0780.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 1.02% to $77.10 per barrel as of writing amid technical correction following reaching its recent low. Nonetheless, the overall long-term prospect for this black-commodity still remained bearish amid the rate hike decision from the global central bank continue to drag down the appeal for the crude oil. On the other hand, the gold price extend its losses by 0.01% to $1630.10 per troy ounces as of writing amid strengthening US Dollar.<\/p>\n

 <\/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

19:30\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 Fed Chair Powell Speaks<\/p>\n

19:30\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 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
20:30<\/td>\nUSD – Core Durable Goods Orders (MoM) (Aug)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – CB Consumer Confidence (Sep)<\/td>\n103.2<\/td>\n104.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – New Home Sales (Aug)<\/td>\n511K<\/td>\n500K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after breakout.<\/p>\n

 <\/p>\n

Resistance level: 113.65, 117.30<\/p>\n

Support level: 111.40, 107.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.0830, 1.1065<\/p>\n

Support level: 1.0500, 1.0095<\/p>\n

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

\"\"<\/strong><\/p>\n

EURUSD, Daily: <\/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

 <\/p>\n

Resistance level: 0.9740, 0.9915<\/p>\n

Support level: 0.9460, 0.9135<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 145.35, 152.80<\/p>\n

Support level: 140.75, 136.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6590, 0.6735<\/p>\n

Support level: 0.6470, 0.6330<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.5850, 0.6030<\/p>\n

Support level: 0.5630, 0.5480<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after breakout.<\/p>\n

 <\/p>\n

Resistance level: 1.3700, 1.3930<\/p>\n

Support level: 1.3365, 1.3100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after breakout.<\/p>\n

 <\/p>\n

Resistance level: 0.9980, 1.0185<\/p>\n

Support level: 0.9855, 0.9640<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, <\/strong>H4: <\/strong>Crude oil price was traded lower while currently testing the support level. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 81.40, 85.30<\/p>\n

Support level: 76.80, 72.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower while currently testing the support level. However, MACD which illustrated increasing bullish momentum suggest the commodity to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1645.20, 1658.50<\/p>\n

Support level: 1622.85, 1594.80<\/p>\n

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

27 September 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 Pound rebounded on rate hike expectation from BoE. The Pound Sterling rebounded from an all-time low against the Greenback on Monday following the Bank of England (BoE) unleashed their hawkish tone to shore up the battered of Pound Sterling. According to CNBC, the BOE governor claimed that the Monetary […]<\/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\/274118"}],"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=274118"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/274118\/revisions"}],"predecessor-version":[{"id":274214,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/274118\/revisions\/274214"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=274118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=274118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=274118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}