15 October 2018 Afternoon Session Analysis
Dollar rose as demand increased.
Dollar index climbed against six major peers amid Britain’s failure to come out with a Brexit deal that majority of the investor expects it would be announced within this week. According to UK’s Financial Times, Prime Minister Theresa May call the current draft Brexit deal as “Non-Starter” while EU leaders may cancel plans for special summit in November due to slow progress in negotiations. In addition, Brexit negotiations took another hit after stumbling upon progress-block whereby the issue between Northern Ireland and Ireland’s hard border is still unresolved while a win-win solution is still not being achieved by both Britain and Brussels. Therefore, market participant turns their investment from Pound Sterling to US Dollar due to the latter’s status being the next safe haven’s currency. For the time being, investors will place their attention upon the release of Retail Sales data from US later today for further market signals. As of writing, dollar index rose 0.11% to 94.95 while pairing of GBP/USD depreciates by 0.33% to 1.3110.
In the commodities market, crude oil price was up 0.94% to $72.15 per barrel amid geopolitical tensions over the sudden disappearance of post columnist Jamal Khashoggi from Saudi Arabia, prompting scrutiny from the international spotlight which may jeopardize the country’s supply. On the other hand, gold price rose 0.35% to $1,222.00 per troy ounce as Brexit ongoing conundrum catalyzed higher safe haven demand in the market.
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 | Market & Data | Previous | Forecast | Actual |
| 20:30 | USD – Core Retail Sales (MoM) (Sep) | 0.3% | 0.4% | – |
| 20:30 | USD – NY Empire State Manufacturing Index (Oct) | 19.00 | 20.40 | – |
| 20:30 | USD – Retail Sales (MoM) (Sep) | 0.1% | 0.7% | – |
| 22:00 | USD – Business Inventories (MoM) (Aug) | 0.6% | 0.5% | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout from the previous resistance level at 94.90. MACD which illustrate starting of bullish momentum and formation of golden cross suggest the pair to extend its gains toward its support level at 95.20.
Resistance level: 95.20, 95.60
Support level: 94.90, 94.60
GBPUSD, H4: GBPUSD was traded lower following prior breakout from the previous support level at 1.3125. MACD which illustrate bearish momentum and formation of death cross suggest the pair to be traded lower in short term toward its support level at 1.3055.
Resistance level: 1.3125, 1.3180
Support level: 1.3055, 1.3035
EURUSD, H4: EURUSD was traded lower following prior retracement from the resistance level at 1.1600. MACD which illustrate bearish momentum and formation of death cross suggest the pair to be traded lower in short term toward its support level at 1.1525.
Resistance level: 1.1600, 1.1665
Support level: 1.1525, 1.1475
USDJPY, H4: USDJPY was traded lower following prior breakout from the previous support level at 112.05. MACD which illustrate diminishing of bullish momentum suggest the pair to be traded lower toward its support level at 111.90.
Resistance level: 112.05, 112.55
Support level: 111.90, 111.75
AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level at 0.7125. MACD which illustrate diminishing of bullish momentum and formation of death cross suggest the pair to extend its losses toward the support level at 0.7065.
Resistance level: 0.7125, 0.7145
Support level: 0.7065, 0.7045
NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level at 0.6525. MACD which illustrate diminishing of bullish momentum and formation of death cross suggest the pair to extend its losses toward the support level at 0.6485.
Resistance level: 0.6525, 0.6595
Support level: 0.6485, 0.6455
USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level at 1.3065. MACD which illustrate bearish momentum and formation of death cross suggest the pair to be traded lower in short term toward its support level at 1.2990.
Resistance level: 1.3065, 1.3120
Support level: 1.2990, 1.2940
USDCHF, H4: USDCHF was traded higher following prior breakout from the previous resistance level at 0.9900. MACD which illustrate starting of bullish momentum and formation of golden cross suggest the pair to be traded higher toward its resistance level at 0.9945.
Resistance level: 0.9945, 0.9975
Support level: 0.9900, 0.9860
CrudeOIL, H4: Crude oil was traded higher following prior rebound from the support level at 70.75. MACD which illustrate bullish momentum and formation of golden cross suggest the pair to extend its gains toward the resistance level at 72.50.
Resistance level: 72.50, 73.35
Support level: 70.75, 69.50
GOLD_, H4: Gold was traded higher following prior breakout from the previous resistance level at 1223.20. MACD which suggest diminishing of bearish momentum and formation of golden cross suggest the pair to extend its gain toward the resistance level at 1226.65.
Resistance level: 1226.65, 1233.05
Support level: 1217.05, 1209.15