{"id":103972,"date":"2020-02-28T06:13:36","date_gmt":"2020-02-28T06:13:36","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=103972"},"modified":"2020-02-28T06:16:18","modified_gmt":"2020-02-28T06:16:18","slug":"280220-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280220-afternoon-session-analysis\/","title":{"rendered":"280220 Afternoon Session Analysis"},"content":{"rendered":"

28 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

Japanese yen soars as market risk escalates.<\/strong><\/span><\/p>\n

Japanese yen received substantial bullish support following risk aversion in the financial market. According to Reuters, 29 Turkish soldiers was killed after Syrian government initiated an attack in Syria\u2019s Idlib. The Turkish army allegedly suffered mass casualties in an airstrike whereby Turkish officials deemed it will shift the course of Syrian war. Due to geopolitical escalation in the Middle East, safe-haven currencies such as Japanese Yen received higher demand during this morning. Likewise, investors continue to scrutinize recent developments of coronavirus endemic as it spreads across Asia and Europe. According to latest report, South Korea has confirmed 256 new cases, bringing it to ta total of 2,022. Meanwhile, China\u2019s National Health Commission reported 327 new cases and 44 new deaths, bringing to a total of 78,824 confirmed cases and death toll of 2,788. Equities received higher sell orders as investors fear that the coronavirus may evolve into a widespread infection around the globe that may prolong economic downturn. As of writing, pair of USD\/JPY slipped 0.17% to 109.40.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price was traded flat near $46.50 per barrel. On yesterday, the black commodity extended its losses over fears of diminishing oil demand due to coronavirus epidemic. On the other hand, gold price ticks up 0.01% to $1,641.86 a troy ounce due to risk aversion in the market.<\/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\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\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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16.55<\/td>\nEUR \u2013 German Unemployment Change (Feb)<\/td>\n-2K<\/td>\n3K<\/td>\n–<\/td>\n<\/tr>\n
21.30<\/td>\nCAD \u2013 GDP (MoM) (Dec)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
02.00 (29th<\/sup> Feb)<\/td>\nCrudeOIL – U.S. Baker Hughes Oil Rig Count<\/td>\n679<\/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>Dollar index was traded lower while currently testing the support level at 98.25. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 98.95, 99.80<\/p>\n

Support level: 98.25, 97.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.2875. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2985, 1.3080<\/p>\n

Support level: 1.2875, 1.2775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1005. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1005, 1.1085<\/p>\n

Support level: 1.0915, 1.0780<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 109.85. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 108.40.<\/p>\n

 <\/p>\n

Resistance level: 109.85, 111.65<\/p>\n

Support level: 108.40, 107.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6720. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6480.<\/p>\n

 <\/p>\n

Resistance level: 0.6720, 0.6915<\/p>\n

Support level: 0.6480, 0.6285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6285. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6240.<\/p>\n

 <\/p>\n

Resistance level: 0.6285, 0.6315<\/p>\n

Support level: 0.6240, 0.6200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.3435. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3435, 1.3475<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9680. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9730, 0.9780<\/p>\n

Support level: 0.9680, 0.9630<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the support level at 47.20. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its losses towards support level at 44.65.<\/p>\n

 <\/p>\n

Resistance level: 47.20, 49.95<\/p>\n

Support level: 44.65, 42.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1674.70. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1561.80.<\/p>\n

 <\/p>\n

Resistance level: 1674.70, 1764.20<\/p>\n

Support level: 1561.80, 1449.30<\/p>\n

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

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

28 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 Japanese yen soars as market risk escalates. Japanese yen received substantial bullish support following risk aversion in the financial market. According to Reuters, 29 Turkish soldiers was killed after Syrian government initiated an attack in Syria\u2019s Idlib. The Turkish army allegedly suffered mass casualties in an airstrike whereby Turkish […]<\/p>\n","protected":false},"author":61,"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\/103972"}],"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\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=103972"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/103972\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=103972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=103972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=103972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}