{"id":297683,"date":"2023-01-13T07:22:52","date_gmt":"2023-01-13T07:22:52","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=297683"},"modified":"2023-01-13T07:22:52","modified_gmt":"2023-01-13T07:22:52","slug":"130123-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130123-afternoon-session-analysis\/","title":{"rendered":"130123 Afternoon Session Analysis"},"content":{"rendered":"

13 January 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound surged ahead of GDP data.<\/strong><\/span><\/p>\n

The Pound sterling, which was mainly traded by global investors, extended its rally during the early Asian trading session as the downbeat US CPI data boosted the appeal of riskier assets.\u00a0 According to the US Bureau of Statistics, the nation\u2019s CPI plummeted from the prior month\u2019s reading of 7.1% to 6.5% in the month of December 2022.\u00a0 The inflationary pressures continued to ease in December amid the steep drop in energy prices, especially gasoline.\u00a0 With that, the pair of GBP\/USD skyrocketed ahead of the announcement of GDP data.\u00a0 At this juncture, the UK GDP data is highly focused on by the investors as the data could provide a further picture of the UK economic performance.\u00a0 Prior to that, the Bank of England (BoE) had given a pessimistic view toward the economic outlook of the nation, whereby they were expecting the country would be trapped in a recession or economic downturn until the end of 2023.\u00a0 As of writing, the pair of GBP\/USD edged up by 0.02% to 1.2200.<\/p>\n

In the commodities market, the crude oil price was down by -0.18% to $78.15 per barrel after recording some gains during the previous trading session amid the sharp decline in the value of the US dollar.\u00a0 Besides, gold prices rose by 0.07% to $1898.15 per troy ounce following the release of downbeat CPI data.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nGBP – GDP (YoY)<\/td>\n1.5%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nGBP – Manufacturing Production (MoM) (Nov)<\/td>\n0.70%<\/td>\n-0.20%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily<\/strong>: Dollar was traded lower following a prior retracement from the resistance level at 103.15. MACD which illustrated bearish bias momentum with death cross signal suggested the index extend its losses toward the support level at 101.65.<\/p>\n

Resistance Level: 103.15, 104.55<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 101.65, 100.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily<\/strong>: GBPUSD was traded higher following a prior rebound from the support level at 1.2145. MACD which illustrated increasing bullish momentum suggested the pair extend its gains toward the resistance level at 1.2305.<\/p>\n

Resistance Level:1.2305, 1.2440<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 :1.2145, 1.1950<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily:<\/strong> EURUSD was traded higher following a prior break above the previous resistance line. MACD which illustrated increasing bullish momentum suggested the pair extend it gains towards resistance level at 1.0890.<\/p>\n

Resistance Level: 1.0890, 1.1040<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 1.0740, 1.0580<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily:<\/strong> USDJPY was traded lower following a prior break below the previous support level. MACD which illustrated bearish bias momentum suggested the pair extend it losses if successfully break below the support at 128.60.<\/p>\n

Resistance Level: 129.85, 131.30<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 128.60, 127.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily<\/strong>: AUDISD was traded higher currently testing for resistance level at 0.6960. MACD which illustrated increasing bullish momentum suggested the pair extend its gains if successfully break above the resistance level.<\/p>\n

Resistance Level: 0.6960, 0.7020<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 0.6895, 06830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily:<\/strong> NZDUSD was traded higher following a prior rebound from support level at 0.6325. MACD which illustrated diminishing bearish bias momentum suggested the pair extend its gains toward resistance level at 0.6450.<\/p>\n

Resistance Level: 0.6450, 0.6565<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 0.6320, 0.6200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily:<\/strong> USDCAD was traded lower following a prior break below the previous support level at 1.3475. MACD which illustrated increasing in bullish momentum suggested the pair extend its losses toward support level at 1.3230 level.<\/p>\n

Resistance Level: 1.3475, 1.3705<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 1.3230, 1.3035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4:<\/strong> USDCHF was traded higher following a prior rebound from the support level at 0.9255. However, MACD which illustrated decreasing in bullish momentum suggested the pair will undergo technical correction in short-term.<\/p>\n

Resistance Level: 0.9320, 0.9360<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 0.9255, 0.9215<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily:<\/strong> Crude oil was traded higher following a prior breakout above the previous resistance level. MACD which illustrated increasing in bullish momentum suggested the commodity will extend its gains toward resistance level at 80.90.<\/p>\n

Resistance Level: 80.95, 84.50<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 : 77.55, 73.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, Daily:<\/strong> Gold was traded higher following a prior break above the previous resistance level. MACD which illustrated bullish bias momentum suggested the commodity will extend its gains towards resistance level at 1917.50.<\/p>\n

Resistance Level: 1917.50, 1950.50<\/p>\n

Support Level\u00a0\u00a0\u00a0\u00a0\u00a0 :1894.30, 1867.85<\/p>\n","protected":false},"excerpt":{"rendered":"

13 January 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Pound surged ahead of GDP data. The Pound sterling, which was mainly traded by global investors, extended its rally during the early Asian trading session as the downbeat US CPI data boosted the appeal of riskier assets.\u00a0 According to the US Bureau of Statistics, the nation\u2019s CPI plummeted […]<\/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\/297683"}],"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=297683"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/297683\/revisions"}],"predecessor-version":[{"id":297767,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/297683\/revisions\/297767"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=297683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=297683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=297683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}