5 October 2018 Afternoon Session Analysis
Dollar edges higher ahead of economic data.
Greenback edged slightly higher by 0.10% to 95.45 at early European trading session while investors await the job data including the Non-farm Payrolls (NFP) which acts as a major indicator for the price of dollar. The dollar surged to its highest level since 17th August after Fed chairman Jerome Powell said that the interest rate will be raised to the estimated neutral rate of 3.4% before keeping the interest rate fixed. In other news, the pair AUD/USD was down to a new low since December 2015 even with the Retail Sales data meeting its expectation. The pair was down by 0.28% to 0.7065 as of writing, continuing its bearish trend while the China market is closed for a week.
For the commodities market, crude oil price recovered part of its losses by 0.33% to $74.90 per barrel as the deadline of sanction on Iran hovers near. On the other hand, gold price slipped by 0.10% to $1,198.55 a troy ounce while investors are nervous about the upcoming NFP economic data.
Today’s Holiday Market Close
Time Market Event
All Day CNY China – National Day
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economy Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 20:30 | USD – Average Hourly Earnings (MoM) (Sep) | 0.4% | 0.3% | – |
| 20:30 | USD – Nonfarm Payrolls (Sep) | 201K | 185K | – |
| 20:30 | USD – Unemployment Rate (Sep) | 3.9% | 3.8% | – |
| 20:30 | CAD – Employment Change (Sep) | -51.6K | 25.0K | – |
| 01:00 (6th) | CrudeOIL – US Baker Hughes Oil Rig Count | 863 | – | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the psychological level 95.50. MACD which illustrate a bearish signal suggest the dollar to extend its retracement towards the support level 95.25.
Resistance level: 95.70, 96.05
Support level: 95.25, 94.65
GBPUSD, H1: GBPUSD was traded lower following prior retracement from the resistance level 1.3040. MACD which display bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 1.2980.
Resistance level: 1.3040, 1.3100
Support level: 1.2980, 1.2905
EURUSD, H1: EURUSD was traded lower following prior breakout below the previous support level 1.1510. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 1.1465.
Resistance level: 1.1510, 1.1570
Support level: 1.1465, 1.1395
USDJPY, H4: USDJPY was traded lower following prior breakout below the previous support level 114.00. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the support level 113.55.
Resistance level: 114.00, 114.55
Support level: 113.55, 113.05
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level 0.7085. MACD which illustrate persistent bearish momentum suggest the pair to extend its losses towards the support level 0.7040.
Resistance level: 0.7085, 0.7125
Support level: 0.7040, 0.7010
NZDUSD, H4: NZDUSD was traded lower while currently testing the support level 0.6460. Recent price action and MACD which display bearish momentum suggest the pair to extend its losses after a breakout below the support level.
Resistance level: 0.6505, 0.6560
Support level: 0.6460, 0.6430
USDCAD, H4: USDCAD was traded higher following prior breakout above the previous resistance level 1.2905. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 1.2965.
Resistance level: 1.2965, 1.3050
Support level: 1.2905, 1.2840
USDCHF, H1: USDCHF was traded higher while currently testing the resistance level 0.9940. MACD which illustrate bullish momentum and the formation of a golden cross suggest the pair to extend its gains after a breakout above the resistance level.
Resistance level: 0.9940, 0.9980
Support level: 0.9875, 0.9815
CrudeOIL, H1: Crude oil price was traded higher while currently testing the resistance level 75.00. MACD which display bullish momentum and the starting formation of a golden cross suggest the commodity to extend its gains after a breakout above the resistance level.
Resistance level: 75.00, 76.70
Support level: 73.55, 71.90
GOLD_, H1: Gold price was traded lower while currently testing the support level 1197.90. MACD which display bearish bias suggest the commodity to extend its losses after a breakout below the support level 1197.90.
Resistance level: 1203.30, 1208.45
Support level: 1197.90, 1191.10