{"id":103288,"date":"2020-02-25T03:56:25","date_gmt":"2020-02-25T03:56:25","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=103288"},"modified":"2020-02-25T03:56:25","modified_gmt":"2020-02-25T03:56:25","slug":"250220-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250220-afternoon-session-analysis\/","title":{"rendered":"250220 Afternoon Session Analysis"},"content":{"rendered":"

25 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\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Euro rose over bullish Germany data.<\/strong><\/span><\/p>\n

Euro extended its gains from lower level since yesterday following an improvement in sentiment towards businesses in Germany. According to Ifo, Germany\u2019s Business Climate Index for the month of February rose to 96.1, slightly higher than forecast of 95.3. However, out of all four sectors that are being measured, only manufacturing sector receives an uptick in its index while three others including services, trade and construction received significant depreciation. In addition, analysts believe that the data is rather outdated as the survey is taken before coronavirus spreads in Italy. The virus has infected more than 220 individuals and it has pushed Italy authorities to lockdown several towns which is believed to be the epicentre of the epidemic. Thus, the virus which poses a threat upon Italy\u2019s economy may highly likely to affect Germany as well as EU zone\u2019s economy are interdependent to each other. As of writing, pair of EUR\/USD rose 0.08% to 1.0861.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.59% to $51.45 per barrel. Oil futures rebounds from its lower level after Saudi Aramco CEO Amin Nasser expects coronavirus impact on global oil demand to be short-lived. He also expects consumption to rise in the second half of the year. On the other hand, gold price slumped 0.27% to $1,655.89 a troy ounce due to technical correction after touching 7-years high on yesterday.<\/p>\n

 <\/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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\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 \u2013 German GDP (QoQ) (Q4)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 CB Consumer Confidence (Feb)<\/td>\n131.6<\/td>\n132.0<\/td>\n–<\/td>\n<\/tr>\n
05:30<\/p>\n

(26th)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n4.200M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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


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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level 99.40. MACD which illustrate bearish bias signal suggest the dollar to extend its retracement towards the support level 98.90.<\/p>\n

 <\/p>\n

Resistance level: 99.40, 99.90<\/p>\n

Support level: 98.90, 98.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.2960. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2960, 1.3080<\/p>\n

Support level: 1.2865, 1.2750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level 1.0885. MACD which illustrate bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 1.0885.<\/p>\n

 <\/p>\n

Resistance level: 1.0885, 1.0990<\/p>\n

Support level: 1.0785, 1.0680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level 110.95. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses towards the support level 110.10.<\/p>\n

 <\/p>\n

Resistance level: 110.95, 112.10<\/p>\n

Support level: 110.10, 109.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level 0.6595. MACD which illustrate bullish momentum signal suggest the pair to extend its rebound towards the resistance level 0.6675.<\/p>\n

 <\/p>\n

Resistance level: 0.6675, 0.6765<\/p>\n

Support level: 0.6595, 0.6500<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6305. MACD which illustrate bullish momentum signal suggest the pair to extend its rebound towards the resistance level 0.6385.<\/p>\n

 <\/p>\n

Resistance level: 0.6385, 0.6490<\/p>\n

Support level: 0.6300, 0.6235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level 1.3260. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 1.3325.<\/p>\n

 <\/p>\n

Resistance level: 1.3325, 1.3380<\/p>\n

Support level: 1.3260, 1.3170<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from its high level. MACD which illustrate bearish bias signal suggest the pair to extend its losses towards the support level 0.9755.<\/p>\n

 <\/p>\n

Resistance level: 0.9835, 0.9915<\/p>\n

Support level: 0.9755, 0.9695<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 51.20. MACD which illustrate diminishing bearish momentum suggest the commodity to extend its rebound towards the resistance level 52.55.<\/p>\n

 <\/p>\n

Resistance level: 52.55, 54.20<\/p>\n

Support level: 51.20, 49.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1646.30. MACD which illustrate bearish bias signal with the formation of death cross suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1676.90, 1717.10<\/p>\n

Support level: 1646.30, 1613.35<\/p>\n","protected":false},"excerpt":{"rendered":"

25 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\u00a0 Afternoon Session Analysis   Euro rose over bullish Germany data. Euro extended its gains from lower level since yesterday following an improvement in sentiment towards businesses in Germany. According to Ifo, Germany\u2019s Business Climate Index for the month of February rose to 96.1, slightly higher than forecast of 95.3. However, out of […]<\/p>\n","protected":false},"author":25,"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\/103288"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=103288"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/103288\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=103288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=103288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=103288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}