{"id":101814,"date":"2020-02-14T03:22:12","date_gmt":"2020-02-14T03:22:12","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=101814"},"modified":"2020-02-14T03:22:12","modified_gmt":"2020-02-14T03:22:12","slug":"140220-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140220-afternoon-session-analysis\/","title":{"rendered":"140220 Afternoon Session Analysis"},"content":{"rendered":"

14 February 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Japanese yen in bid as coronavirus spreads.<\/strong><\/span><\/p>\n

Japanese yen held onto its gains during Asian trading session on Friday following renewed worries with regards to coronavirus outbreak. On yesterday, officials in Hubei stunned financial market after reporting a sharp increase in new infections and deaths from the coronavirus following the adoption of new method to diagnose the illness. High uncertainty with regards to the scale of the epidemic has discouraged investors from taking excessive risk in the FX market and thus led to higher demand for safe-haven assets such as Japanese yen. According to a poll in Reuters, economists speculate that China\u2019s economy will grow at its slowest pace since the last financial crisis due to shutdown in numerous major cities. However, economists added that the impact may be short-lived if the epidemic is successfully contained. On the other hand, euro extended its losses following the release of bearish data from the region. For the month of January, Germany\u2019s CPI came in at -0.6%, signifying the ineffectiveness of loose monetary policy from European Central Bank. As of writing, pair of USD\/JPY was traded flat at 109.81 while EUR\/USD slumped 0.05% to 1.0836.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciates by 0.21% to $51.41 per barrel. Oil futures remains under pressure as coronavirus epidemic may significantly reduce global demand towards the commodity. On the other hand, gold price rose 0.03% to $1,576.49 a troy ounce due to risk aversion in the market.<\/p>\n

\u00a0<\/u><\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15.00<\/td>\nEUR – German GDP (QoQ) (Q4)<\/td>\n-0.3%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
21.30<\/td>\nUSD – Core Retail Sales (MoM) (Jan)<\/td>\n0.7%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
21.30<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD – Retail Sales (MoM) (Jan)<\/td>\n0.3%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(15th<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n676<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, Daily<\/strong>\uff1a<\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 98.65. MACD which illustrated bullish bias momentum suggest the index to extend its gains toward the resistance level at 99.05.<\/p>\n

 <\/p>\n

Resistance level: 99.05, 99.55<\/p>\n

Support level: 98.65, 98.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.3035.<\/p>\n

 <\/p>\n

Resistance level: 1.3080, 1.3175<\/p>\n

Support level: 1.3035, 1.2975<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.0855. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 1.0795.<\/p>\n

 <\/p>\n

Resistance level: 1.0855, 1.0895<\/p>\n

Support level: 1.0795, 1.0740<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the 50 moving average line (Blue). MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 109.95.<\/p>\n

 <\/p>\n

Resistance level: 109.95, 110.25<\/p>\n

Support level: 109.55, 109.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6720. MACD which illustrated bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.6720.<\/p>\n

 <\/p>\n

Resistance level: 0.6720, 0.6755<\/p>\n

Support level: 0.6705, 0.6680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6455. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6405.<\/p>\n

 <\/p>\n

Resistance level: 0.6455, 0.6490<\/p>\n

Support level: 0.6405, 0.6365<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3265. MACD which illustrated diminishing bearish momentum suggest the pair to extend its losses toward support level at 1.3210.<\/p>\n

 <\/p>\n

Resistance level: 1.3265, 1.3335<\/p>\n

Support level: 1.3210, 1.3145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the resistance level at 0.9780. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.9810.<\/p>\n

 <\/p>\n

Resistance level: 0.9810, 0.9845<\/p>\n

Support level: 0.9780, 0.9750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 51.65. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 50.65.<\/p>\n

 <\/p>\n

Resistance level: 51.65, 52.65<\/p>\n

Support level: 50.65, 49.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1578.25. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 1571.35.<\/p>\n

 <\/p>\n

Resistance level: 1578.25, 1584.45<\/p>\n

Support level: 1571.35, 1564.15<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

14 February 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Japanese yen in bid as coronavirus spreads. Japanese yen held onto its gains during Asian trading session on Friday following renewed worries with regards to coronavirus outbreak. On yesterday, officials in Hubei stunned financial market after reporting a sharp increase in new infections and deaths from the coronavirus […]<\/p>\n","protected":false},"author":54,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/101814"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=101814"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/101814\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=101814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=101814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=101814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}