{"id":284889,"date":"2022-11-15T03:56:35","date_gmt":"2022-11-15T03:56:35","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=284889"},"modified":"2022-11-15T03:56:35","modified_gmt":"2022-11-15T03:56:35","slug":"151122-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/151122-afternoon-session-analysis\/","title":{"rendered":"151122 Afternoon Session Analysis"},"content":{"rendered":"

15 November 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

Japanese Yen slumped amid downbeat GDP data.<\/strong><\/span><\/p>\n

The Japanese Yen, which is majorly traded by global investors, experienced a huge sell-off pressure right after the downbeat GDP data was released this morning. According to Japan\u2019s Cabinet Office, the GDP for the third quarter of 2022 came in at -0.3%, far lower than the consensus forecast of 0.3%, mirroring that Japan\u2019s economy was still trapped in the recessionary stage. The unexpected shrinking of the economy was mainly attributed to the yen\u2019s historic slide, which had battered growth momentum, leaving the country\u2019s recovery from the pandemic in a vulnerable spot. Despite this, the future outlook of the Japanese economy turns brighter as the reopening of Japan\u2019s borders is expected to spur the country’s tourism sector. On the other side, the dollar index was boosted by the hawkish-titled comment from the Fed\u2019s member \u2013 Christopher Waller. He emphasized that there is no sign showing that inflation will continue to drop going forward, and it is too early to call victory on the battle against inflation. As of writing, the pair of USD\/JPY rose 0.39% to 140.40.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price rebounded by 0.65% to $86.05 per barrel after plummeting significantly yesterday. Recently, the daily Covid-19 cases in China shot up and triggered market fears over the risk of renewed lockdown measures. Besides, the gold price dropped -0.01% to $1771.05 per troy ounce amid the strengthening of the dollar index.<\/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

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
15:00<\/td>\nGBP – Average Earnings Index +Bonus (Sep)<\/td>\n6.0%<\/td>\n6.0%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nGBP – Claimant Count Change (Oct)<\/td>\n25.5K<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR – German ZEW Economic Sentiment (Nov)<\/td>\n-59.2<\/td>\n-50.0<\/td>\n–<\/td>\n<\/tr>\n
21:00<\/td>\nUSD – PPI (MoM) (Oct)<\/td>\n0.4%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior breakout below the support level at 107.35. MACD which illustrated bearish bias momentum suggests the index to extend its losses toward the support level at 104.85<\/p>\n

 <\/p>\n

Resistance level: 107.35, 109.00<\/p>\n

Support level: 104.85, 101.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.1820. 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: 1.1820, 1.2000<\/p>\n

Support level: 1.1635, 1.1445<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.0365. 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: 1.0365, 1.0475<\/p>\n

Support level: 1.0255, 1.0130<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the support level at 138.90. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 141.75.<\/p>\n

 <\/p>\n

Resistance level: 141.75, 144.70<\/p>\n

Support level: 138.90, 136.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6640. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.6725.<\/p>\n

 <\/p>\n

Resistance level: 0.6725, 0.6860<\/p>\n

Support level: 0.6640, 0.6530<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6105. 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: 0.6105, 0.6170<\/p>\n

Support level: 0.6025, 0.5930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3265. MACD which illustrated diminishing bearish momentum suggests the pair to extend its gains toward the resistance level at 1.3400.<\/p>\n

 <\/p>\n

Resistance level: 1.3400, 1.3505<\/p>\n

Support level: 1.3265, 1.3155<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9405. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9530.<\/p>\n

 <\/p>\n

Resistance level: 0.9530, 0.9625<\/p>\n

Support level: 0.9405, 0.9310<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 84.35. MACD which illustrated bearish bias momentum suggests the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 86.05, 87.40<\/p>\n

Support level: 84.35, 82.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1766.50. MACD which illustrated bullish bias momentum suggests the commodity to extend its gains toward the resistance level at 1805.90.<\/p>\n

 <\/p>\n

Resistance level: 1805.90, 1850.95<\/p>\n

Support level: 1766.50, 1726.15<\/p>\n","protected":false},"excerpt":{"rendered":"

15 November 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   Japanese Yen slumped amid downbeat GDP data. The Japanese Yen, which is majorly traded by global investors, experienced a huge sell-off pressure right after the downbeat GDP data was released this morning. According to Japan\u2019s Cabinet Office, the GDP for the third quarter of 2022 came in at […]<\/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\/284889"}],"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=284889"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/284889\/revisions"}],"predecessor-version":[{"id":284940,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/284889\/revisions\/284940"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=284889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=284889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=284889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}