15 October 2019 Afternoon Session Analysis
Dollar hovered amid geopolitical risk heightened.
Dollar index which measure its value against a basket of six major currencies lingered around below 98.20 amid rising of geopolitical tension between United States and Turkey. Earlier today, US President Donald Trump called for an immediate ceasefire by imposing sanctions against Turkey, where stop bargaining with Turkey on $100 billion trade deal and raising steel tariff back up to 50%. Besides, Donald Trump also commented that they are ready to sweep off the Turkey economy and their military forces are in position for any emergency if Turkish leader continue threaten the peacefulness and setting up a condition for war crime. In the statement from Trump, he reiterated will ramp up the sanctions against Turkey unless Turkish leader willing to bring the issue up onto the table and negotiate with an intention to end the violence. As of now, dollar index inched down 0.05% to 98.05. On the other hand, the pair of AUD/USD dropped 0.05% to 0.6770 amid dovish tone from members of Reserve bank of Australia (RBA) in the monthly meeting minutes. Based on the statement, majority of the members remained pessimistic toward economic future outlook while agreed to maintain their rate at low level for an extended period of time, further ease their monetary policy would take into consideration if necessary.
In the commodities market, crude oil price quoted down 0.47% to $53.20 per barrel amid downbeat China economic data on September lifted up the investor worries over the crude oil demand in the future. Besides, gold price rose 0.06% to $1494.00 a troy ounce amid weakening of greenback.
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 |
| 16:30 | GBP – Average Earnings Index +Bonus (Aug) | 4.0% | 4.0% | – |
| 16:30 | GBP – Claimant Count Change (Sep) | 28.2K | 26.5K | – |
| 17:00 | EUR – German ZEW Economic Sentiment (Sep) | -22.5 | -27.0 | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the resistance level at 98.35. However, MACD which illustrate bullish bias with the formation of golden cross suggest the dollar to be traded higher in short term towards the resistance level 98.35.
Resistance level: 98.35, 98.85
Support level: 97.70, 97.15
GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level 1.2515. However, MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to be traded lower in short term towards the support level 1.2515.
Resistance level: 1.2685, 1.2775
Support level: 1.2515, 1.2385
EURUSD, H4: EURUSD was traded higher following prior rebound from the support level 1.1020. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.1075.
Resistance level: 1.1075, 1.1155
Support level: 1.1020, 1.0965
USDJPY, H4: USDJPY was traded flat near the resistance level 108.45. However, MACD which display bearish bias signal with the formation of death cross suggest the pair to be traded lower towards the support level 107.55.
Resistance level: 108.45, 109.20
Support level: 107.55, 107.00
AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level 0.6745. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 0.6805.
Resistance level: 0.6805, 0.6850
Support level: 0.6745, 0.6690
NZDUSD, H4: NZDUSD was traded within a range following recent rebound from the support level 0.6270. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 0.6325
Resistance level: 0.6325, 0.6355
Support level: 0.6270, 0.6235
USDCAD, H4: USDCAD was traded higher while currently testing near the resistance level 1.3235. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level 1.3235.
Resistance level: 1.3235, 1.3300
Support level: 1.3185, 1.3135
USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level 0.9980. MACD which illustrate bearish bias signal with the starting formation of death cross suggest the pair to extend its retracement towards the support level 0.9915.
Resistance level: 0.9980, 1.0025
Support level: 0.9915, 0.9855
CrudeOIL, H4: Crude oil price remain traded in a sideway channel following recent retracement from the resistance level 54.80. However, MACD which display bearish momentum signal suggest the commodity to extend its retracement in short term towards the support level 51.45.
Resistance level: 54.80, 58.35
Support level: 51.45, 48.15
GOLD_, H4: Gold price was traded higher following prior rebound from the support level at 1487.35. MACD which illustrated bullish momentum signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 1514.60.
Resistance level: 1514.60, 1535.10
Support level: 1487.35, 1455.85