{"id":286185,"date":"2022-11-22T05:33:25","date_gmt":"2022-11-22T05:33:25","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=286185"},"modified":"2022-11-22T05:33:25","modified_gmt":"2022-11-22T05:33:25","slug":"221122-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/221122-afternoon-session-analysis\/","title":{"rendered":"221122 Afternoon Session Analysis"},"content":{"rendered":"

22 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\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Germany PPI unexpectedly dropped, Euro sinks.<\/strong><\/span><\/p>\n

The EUR\/USD, which well known by majorities of investor slipped on yesterday after the inflationary data has been released. According to Destatis, the Germany Producer Price Index (PPI) MoM in October accidentally notched down from the previous reading of 2.3% to -4.2%, far lower than the consensus expectation of 0.9%. With the backdrop of easing inflationary pressure in Germany, it would likely to the diminishing of inflation risk in Eurozone, which decrease the odds of aggressive tightening monetary policy by European Central Bank (ECB). On the other hand, the Euro\u2019s losses was extended following the smaller rate hike was implied. According to Reuters, ECB chief economist Philip Lane appeared a speech on Monday that the ECB would raise interest rate again in December, but the rate increase might be smaller than the prior. Thus, it might hinted that the 50 basis point rate hike would likely to be carried out in the next meeting, which dragged down the appeal of Euro. As of writing, EUR\/USD rose by 0.24% to 1.0266.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price rallied by 0.36% to $80.33 per barrel as of writing. Nonetheless, the overall trend of oil price remained bearish over the exacerbating pandemic Covid-19 in China. In addition, the gold price appreciated by 0.28% to $1744.85 per troy ounce as of writing following the value of US Dollar weakened.<\/p>\n

\u00a0<\/strong><\/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

 <\/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
21:30<\/td>\nCAD – Core Retail Sales (MoM) (Sep)<\/td>\n0.7%<\/td>\n-0.6%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 108.45, 109.95<\/p>\n

Support level: 107.05, 105.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD 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: 1.2040, 1.2245<\/p>\n

Support level: 1.1835, 1.1635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.0335, 1.0465<\/p>\n

Support level: 1.0210, 1.0090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 142.10, 145.75<\/p>\n

Support level: 139.00, 135.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains.<\/p>\n

 <\/p>\n

Resistance level: 0.6705, 0.6830<\/p>\n

Support level: 0.6590, 0.6500<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6150, 0.6260<\/p>\n

Support level: 0.6025, 0.5920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 1.3455, 1.3635<\/p>\n

Support level: 1.3320, 1.3155<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF 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: 0.9680, 0.9815<\/p>\n

Support level: 0.9550, 0.9400<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 83.55, 86.25<\/p>\n

Support level: 80.15, 77.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the commodity to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1756.05, 1783.50<\/p>\n

Support level: 1725.65, 1700.05<\/p>\n","protected":false},"excerpt":{"rendered":"

22 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\u00a0 Afternoon Session Analysis Germany PPI unexpectedly dropped, Euro sinks. The EUR\/USD, which well known by majorities of investor slipped on yesterday after the inflationary data has been released. According to Destatis, the Germany Producer Price Index (PPI) MoM in October accidentally notched down from the previous reading of 2.3% to -4.2%, far […]<\/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\/286185"}],"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=286185"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/286185\/revisions"}],"predecessor-version":[{"id":286293,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/286185\/revisions\/286293"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=286185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=286185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=286185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}