{"id":286533,"date":"2022-11-23T05:06:58","date_gmt":"2022-11-23T05:06:58","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=286533"},"modified":"2022-11-23T05:06:58","modified_gmt":"2022-11-23T05:06:58","slug":"231122-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/231122-afternoon-session-analysis\/","title":{"rendered":"231122 Afternoon Session Analysis"},"content":{"rendered":"

23 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

Euro rose as hefty rate hike was suggested.<\/strong><\/span><\/p>\n

The EUR\/USD, which widely traded by global investors extended its gains on yesterday over the hawkish statement from the European Central Bank (ECB) members. According to Bloomberg, the Governing Council member Gediminas Simkus claimed on Tuesday that the central bank was suggested to take at least 50 basis point rate hike in December meeting in order to tamp down inflationary risk, while a higher rate increase is still on the table. Starting from July, ECB had raised its interest rate by 200 basis points \u2013 the most aggressive hike in ECB\u2019s history. Furthermore, with the Eurozone inflation running in double digits of 10.6%, it dialed up the hopes of aggressive contractionary monetary implementation by ECB. In addition, Bundesbank President Joachim Nagel appeared a speech on yesterday that Eurozone\u2019s interest rate were still so low as to stimulate the economy and “relatively far” from restricting it, which sparkling the appeal of Euro currency. Though, the gains experienced by EUR\/USD was limited following the Organisation for Economic Cooperation and Development (OECD) anticipated that the Europe economy would be hit by hard recession. As of writing, the EUR\/USD appreciated by 0.19% to 1.0322.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price edged up by 0.04% to $80.98 per barrel as of writing following OPEC+ remained its output cuts plan. On the other hand, the gold price depreciated by 0.04% to $1739.20 per troy ounce as of writing over the strengthening of US Dollar.<\/p>\n

\u00a0<\/strong><\/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\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nEUR – German Manufacturing PMI (Nov)<\/td>\n45.1<\/td>\n45.2<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP – Composite PMI<\/td>\n48.2<\/td>\n47.2<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP – Manufacturing PMI<\/td>\n46.2<\/td>\n45.7<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP – Services PMI<\/td>\n48.8<\/td>\n48.0<\/td>\n–<\/td>\n<\/tr>\n
21:00<\/td>\nUSD – Building Permits<\/td>\n1.526M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core Durable Goods Orders (MoM) (Oct)<\/td>\n-0.5%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n222K<\/td>\n225K<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – New Home Sales (Oct)<\/td>\n603K<\/td>\n570K<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-5.400M<\/td>\n-1.055M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\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 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: 107.05, 108.45<\/p>\n

Support level: 105.20, 103.45<\/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 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: 1.0335, 1.0465<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior retracement from the resistance level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.<\/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

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.6260, 0.6345<\/p>\n

Support level: 0.6150, 0.6025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded lower as technical correction.<\/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 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: 0.9550, 0.9680<\/p>\n

Support level: 0.9400, 0.9235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level. However, MACD which illustrated decreasing bullish momentum suggest the commodity to be traded lower as technical correction.<\/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":"

23 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 Euro rose as hefty rate hike was suggested. The EUR\/USD, which widely traded by global investors extended its gains on yesterday over the hawkish statement from the European Central Bank (ECB) members. According to Bloomberg, the Governing Council member Gediminas Simkus claimed on Tuesday that the central bank was […]<\/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\/286533"}],"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=286533"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/286533\/revisions"}],"predecessor-version":[{"id":286626,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/286533\/revisions\/286626"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=286533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=286533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=286533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}