19 November 2019 Afternoon Session Analysis
Yen plunged amid mixed signal by BoJ Governor.
The pair of USD/JPY rebounded near the one-week low level amid Bank of Japan’s (BoJ) Governor mixed comment which dragged down the appeal of Japanese Yen. According to Reuters, Governor of BoJ Haruhiko Kuroda revealed that although Japan’s economy is currently expanding in a sustainable level and believingly that their policy’ targets are achievable at the moment. However, they will still remain their footsteps at monetary easing while eyeing on global growth risk and further development of trade war, more stimulus can be anticipated if the course of events urges their economy growth to goes against their expectation. Nonetheless, losses on the Japanese yen were limited by the exacerbating of trade tension between China and US, as recent development shows both parties are hard and unable to ‘unlock’ the trade war at the moment. On the other hand, the pair of AUD/USD plummeted following the Minutes of RBA’s meeting showed that board of RBA prepared to further ease their monetary policy if economy growth further deteriorating. As of writing, USD/JPY inched up 0.02% to 108.65 while AUD/USD quoted down 0.26% to 0.6790.
In the commodities market, crude oil price rebound 0.05% to $56.90 per barrel after falling for more than $14 yesterday amid recent trade pessimism outweigh the positive sentiment of this black commodity. Otherwise, gold price ticks up 0.01% to $1,470.75 a troy ounce amid heightening of risk aversion.
Today’s Holiday Market Close
Time Market Event
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Today’s Highlight Events
Time Market Event
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Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 21:30 | USD – Building Permits (Oct) | 1.391M | 1.385M | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level at 97.55. MACD which illustrated diminishing bearish momentum suggest the index to be extend its gains toward the resistance level at 97.80.
Resistance level: 97.80, 97.95
Support level: 97.55, 97.35
GBPUSD, Daily: GBPUSD was traded higher while currently testing the resistance level at 1.2965. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1.2965, 1.3180
Support level: 1.2765, 1.2600
EURUSD, Daily: EURUSD was traded higher while currently testing the resistance level at 1.1080. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.
Resistance level: 1.1080, 1.1165
Support level: 1.1010, 1.0955
USDJPY, H4: USDJPY was traded lower following prior breakout below the previous support level at 108.70. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 108.35.
Resistance level: 108.70, 108.95
Support level: 108.35, 108.15
AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level at 0.6815. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6775.
Resistance level: 0.6815, 0.6840
Support level: 0.6775, 0.6750
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.6385. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.6405, 0.6425
Support level: 0.6385, 0.6365
USDCAD, Daily: USDCAD was traded lower while currently testing at the support of 1.3200. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 1.3260, 1.3310
Support level: 1.3200, 1.3145
USDCHF, Daily: USDCHF was traded higher following prior rebound from the support level at 0.9870. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 0.9905, 0.9950
Support level: 0.9870, 0.9835
CrudeOIL, H1: Crude oil price was traded higher following prior rebound from the lower levels. MACD which illustrate diminished downward momentum suggests its price to extend its gains toward resistance level at 57.25.
Resistance level: 57.25, 57.65
Support level: 56.70, 56.25
GOLD_, Daily: Gold price was traded higher following prior rebound from the support level at 1461.75. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1485.60.
Resistance level: 1485.60, 1511.11
Support level: 1461.75, 1440.20