19 April 2019 Afternoon Session Analysis
Quiet market due to Good Friday.
Japanese yen received some bidding during Asian trading session while majority of the markets in the world remained closed in conjunction with Good Friday holiday. As of writing, pair of USD/JPY slipped 0.03% to 111.93 during Asian session. The safe-haven currency received some bullish support after Japan’s Statistic Bureau reported that its National Core Consumer Price Index rose by 0.8%, slightly higher than forecasted reading of 0.7%. A higher than expected inflation data had shed some negative sentiment upon Japan after its central bank postulate that they are less likely to achieve their 2% inflation target for next two years. Nonetheless, liquidity in the financial market for today is expected to remain thin due to Good Friday holiday. Otherwise, pair of EUR/USD extended its overnight losses by 0.02% to 1.1235. Euro remained traded in a bearish fashion following downbeat economic data from the region which spark higher concern over possible recession ahead for the EU economic bloc.
* Dollar index, crude oil and gold will be closed for trading in conjunction with Good Friday holiday.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Market & Data | Previous | Forecast | Actual |
| 20:30 | USD – Building Permits | 1.291M | 1.300M | – |
Technical Analysis
GBPUSD, H4: GBPUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the pair to be extend its gains toward the resistance level at 1.3005.
Resistance level: 1.3005, 1.3030
Support level: 1.2970, 1.2925
EURUSD, H4: EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 1.1255.
Resistance level: 1.1255, 1.1280
Support level: 1.1215, 1.1180
USDJPY, H4: USDJPY was traded lower following prior retracement from the resistance level at 112.00. MACD which display bearish momentum suggest the pair to extend its losses toward the support level at 111.40.
Resistance level: 112.00, 112.35
Support level: 111.40, 110.85
AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7145. MACD which display diminishing bearish momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 0.7145.
Resistance level: 0.7145, 0.7175
Support level: 0.7125, 0.7090
NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level at 0.6675. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 0.6705.
Resistance level: 0.6705, 0.6740
Support level: 0.6675, 0.6630
USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level at 1.3390. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.3345.
Resistance level: 1.3390, 1.3440
Support level: 1.3345, 1.3290
USDCHF, H4: USDCHF was traded lower following prior retracement from resistance level at 1.0160. MACD which display diminishing bullish momentum suggest the pair to extend its retracement toward the support level at 1.0120.
Resistance level: 1.0160, 1.0185
Support level: 1.0120, 1.0090