{"id":323027,"date":"2023-05-15T06:51:43","date_gmt":"2023-05-15T06:51:43","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=323027"},"modified":"2023-05-15T06:51:43","modified_gmt":"2023-05-15T06:51:43","slug":"150523-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150523-afternoon-session-analysis\/","title":{"rendered":"150523 Afternoon Session Analysis"},"content":{"rendered":"

15 May 2023\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

The pound extended losses after weak economic conditions.<\/strong><\/span><\/p>\n

The pound which traded against the greenback extended its losses after the crucial economic data was released last Friday. The UK Q1 GDP was expected to shrink to 0.4% of growth, but the actual result marked at 0.3%, slipped more than market expectations. The growth of the service sectors was contributed by information and communication 1.2% and administrative and support services 1.3%. While the consumer spending sector showed no increase after the household remains in a cautious mood as incomes continue to squeeze by high inflation. Nonetheless, the Office for National Statistics (ONS) said that the UK economy suffered from the awful weather during the month which caused household spending reduced. The reason for the contraction came from the 6th Wettest March since 1836 caused the consumers to stay indoors and retail sales suffered. Besides that, both industrial and manufacturing production continues to present in contraction moves, which are remarked at -0.1% and 0.1% respectively. Both readings slipped from the 0.7% in the prior month. With such backdrops, the pound against the greenback extended its losses toward the 1.2460 level. As of writing, the GBPUSD was increased by 0.08% to $1.2466.<\/p>\n

\n

In the commodities market, crude oil prices were traded lower by -0.34% to $69.80 per barrel amid economic concern over a potential US recession affecting the oil demand. Besides, gold prices edged up by 0.26% to $2016.04 per troy ounce following the prior weakening in the 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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following the prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggests the index extended its losses toward the support level at 101.90.<\/p>\n

 <\/p>\n

Tahap rintangan: 101.90, 104.50<\/p>\n

Tahap sokonagan: 101.00, 100.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following the prior rebound from the support level at 1.2445. MACD which illustrated diminishing bearish momentum suggests the pair extended its gains toward the resistance level.<\/p>\n

 <\/p>\n

Tahap rintangan: 1.2590, 1.2735<\/p>\n

Tahap sokonagan: 1.2445, 1.2300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following the prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggests the pair extended its gains toward the resistance level.<\/p>\n

 <\/p>\n

Tahap rintangan: 1.0930, 1.1070<\/p>\n

Tahap sokonagan: 1.0790, 1.0635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing for the resistance level at 136.30. MACD which illustrated increasing bullish momentum suggests the pair extended its gains if successfully break above the resistance level.<\/p>\n

 <\/p>\n

Tahap rintangan: 136.30, 138.15<\/p>\n

Tahap sokonagan: 134.55, 132.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing for the resistance level at 0.6685. MACD which illustrated increasing diminishing bearish momentum suggests the pair extended its gains if successfully break above the resistance level.<\/p>\n

 <\/p>\n

Tahap rintangan: 0.6685, 0.6775<\/p>\n

Tahap sokonagan: 0.6600, 0.6525<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following a prior rebound from the support level at 0.6195. MACD which illustrated diminishing bearish momentum suggests the pair extended its gains toward the resistance level.<\/p>\n

 <\/p>\n

Tahap rintangan: 0.6265, 0.6320<\/p>\n

Tahap sokonagan: 0.6195, 0.6120<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following a prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggests the pair extended its losses toward the support level at 1.3515.<\/p>\n

 <\/p>\n

Tahap rintangan: 1.3600, 1.3685<\/p>\n

Tahap sokonagan: 1.3515, 1.3420<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following a prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggests the pair extended its losses toward the support level at 0.8925.<\/p>\n

 <\/p>\n

Tahap rintangan: 0.9005, 0.9090<\/p>\n

Tahap sokonagan: 0.8925, 0.8855<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following a prior break below the previous support level at 70.65. However, MACD which illustrated diminishing bearish momentum suggests the commodity to undergo technical correction in the short term.<\/p>\n

 <\/p>\n

Tahap rintangan: 70.65, 73.20<\/p>\n

Tahap sokonagan: 67.00, 63.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following a prior rebound from the support level at 2009.10. MACD which illustrated diminishing bearish momentum suggests the commodity extended its gains toward the resistance level.<\/p>\n

 <\/p>\n

Tahap rintangan: 2030.10, 2049.530<\/p>\n

Tahap sokonagan: 2009.10, 1985.50<\/p>\n

 <\/p>\n

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

15 May 2023\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   The pound extended losses after weak economic conditions. The pound which traded against the greenback extended its losses after the crucial economic data was released last Friday. The UK Q1 GDP was expected to shrink to 0.4% of growth, but the actual result marked at 0.3%, slipped more […]<\/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\/323027"}],"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=323027"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/323027\/revisions"}],"predecessor-version":[{"id":323117,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/323027\/revisions\/323117"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=323027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=323027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=323027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}