11 October 2018 Afternoon Session Analysis
Dollar falls amid Brexit sentiment.
Dollar index continue its bearish momentum following the recent progress of Brexit where UK and EU had made an agreement for a custom union, prolonging the period to discuss further agreements ahead of the summit with 28 bloc leaders. Moreover, yesterday’s negative sentiment from US President Donald Trump regarding his comment on the acceleration of rate hike was not necessary further worsen dollar’s price. Greenback fell by 0.20% to 94.95 at early European trading session. In other news, the pair of USD/JPY fell by 0.05% to 112.10 a new low since 21st September amid safe-haven demand. The anxiety caused by US bond market created a negative sentiment which boosted the demand for Japanese Yen while awaits today’s US CPI data for further direction of the dollar.
In the commodities market, crude oil price plunged 0.72% to $72.05 as of writing. The commodity continues its bearish momentum amid negative sentiment from high inventory level reported by API. On the other hand, gold price decreased by 0.10% to $1,193.07 a troy ounce following reduced demand amid Brexit positive sentiment.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
19:20 CrudeOIL OPEC Monthly Report
19:30 EUR ECB Publishes Account of Monetary Policy Meeting
Today’s Highlight Economic Data
| Time | Market & Data | Previous | Forecast | Actual |
| 20:30 | USD – Core CPI (MoM) (Sep) | 0.1% | 0.2% | – |
| 20:30 | USD – Initial Jobless Claims | 207K | 206K | – |
| 20:30 | CAD – New Housing Price Index (MoM) (Aug) | 0.1% | 0.1% | – |
| 23:00 | CrudeOIL – Crude Oil Inventories | 7.975M | 2.620M | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was lower while currently testing near the support level 94.95. MACD which illustrate persistent bearish momentum suggest the dollar to extend its losses after breakout below the support level.
Resistance level: 95.20, 95.45
Support level: 94.95, 94.50
GBPUSD, H1: GBPUSD was traded higher following prior breakout above the previous resistance level 1.3185. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 1.3280.
Resistance level: 1.3280, 1.3350
Support level: 1.3185, 1.3130
EURUSD, H1: EURUSD was traded lower while currently testing near the support level 1.1540. MACD which display bearish momentum suggest the pair to extend its losses after a breakout below the support level.
Resistance level: 1.1585, 1.1630
Support level: 1.1540, 1.1510
USDJPY, H1: USDJPY was traded higher following prior rebound from the support level 112.10. MACD which illustrate bullish momentum and the starting formation of a golden cross suggest the pair to extend its rebound towards the resistance level 112.60.
Resistance level: 112.60, 113.40
Support level: 112.10, 111.65
AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level 0.7085. MACD which display bearish momentum and the starting formation of a death cross suggest the pair to extend its retracement towards the support level 0.7040.
Resistance level: 0.7085, 0.7125
Support level: 0.7040, 0.7010
NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level 0.6460. MACD which illustrate bullish momentum suggest the pair to extend its rebound towards the resistance level 0.6495.
Resistance level: 0.6495, 0.6540
Support level: 0.6460, 0.6425
USDCAD, H1: USDCAD was traded lower following prior retracement from the resistance level 1.3080. MACD which display bearish signal and the formation of death cross suggest the pair to extend its retracement towards the support level 1.3010.
Resistance level: 1.3080, 1.3130
Support level: 1.3010, 1.2955
USDCHF, H1: USDCHF was traded higher following prior rebound from the support level at 0.9855. MACD which illustrate bullish momentum and the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.9905.
Resistance level: 0.9905, 0.9940
Support level: 0.9855, 0.9825
CrudeOIL, H1: Crude oil price was traded higher following prior rebound from the support level 71.90. MACD which display starting bullish momentum suggest the commodity to extend its rebound towards the resistance level 73.55.
Resistance level: 73.55, 76.70
Support level: 71.90, 70.30
GOLD_, H4: Gold price was traded higher following prior breakout from the resistance of 1191.10. MACD which has formed a golden cross signal suggests the commodity price to extend its gains towards the resistance level 1197.90.
Resistance level: 1197.90, 1203.30
Support level: 1191.10, 1185.35