{"id":105464,"date":"2020-03-10T03:49:19","date_gmt":"2020-03-10T03:49:19","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=105464"},"modified":"2020-03-10T03:49:19","modified_gmt":"2020-03-10T03:49:19","slug":"100320-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100320-afternoon-session-analysis\/","title":{"rendered":"100320 Afternoon Session Analysis"},"content":{"rendered":"

10 March 2020\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 slumps as Italy shutdowns entirely.<\/strong><\/span><\/p>\n

Euro experienced significant selloff during Asian trading session as coronavirus spread rapidly around Italy. According to Al-Jazeera, the total number of coronavirus cases rose by 1,797 on yesterday, bringing to a total of 9,172. On the other hand, death toll rose by 97 to 463 thus far. When compared with other countries, Italy is currently the second country with the highest number of cases after China, followed by South Korea. As number of cases rises drastically for the past few days, Italy has extended its emergency measures which includes travel restrictions and ban on public gathering throughout the country. On Monday, Prime Minister Giuseppe Conte order its citizen to stay at home and seek permission for essential travels. He also announced that all sporting events will be suspended nationwide while schools and universities will be closed until 3rd<\/sup> April. The lockdown has sparked concerns over Italy\u2019s economic momentum which shows recessive risks prior to the outbreak of coronavirus in the country. Thus, investors will monitor coronavirus conditions in Italy as well as European Central Bank\u2019s policy meeting later this week in order to gauge the performance of euro. As of writing, pair of EUR\/USD slumped 0.37% to 1.1405.<\/p>\n

 <\/p>\n

As for commodities, crude oil price skyrocketed 8.70% to $32.70 per barrel. Oil price rebounds sharply from its prior low levels after US shale producers increases their spending cuts that could reduce future oil production. On the other hand, gold price was traded flat around $1,667.33 a troy ounce as market participants waits for more signals from the financial 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 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 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

Time\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

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

\"\"<\/p>\n

DOLLAR_INDX, H4<\/strong>\uff1a<\/strong>Dollar index was traded higher while currently testing the resistance level at 95.40. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains after it successfully breakout above the resistance level at 95.40.<\/p>\n

 <\/p>\n

Resistance level: 95.40, 96.00<\/p>\n

Support level: 94.90, 94.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3080. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.3080.<\/p>\n

 <\/p>\n

Resistance level: 1.3080, 1.3120<\/p>\n

Support level: 1.3045, 1.3015<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1395. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level at 1.1395.<\/p>\n

 <\/p>\n

Resistance level: 1.1445, 1.1545<\/p>\n

Support level: 1.1395, 1.1325<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 102.25. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 104.35.<\/p>\n

 <\/p>\n

Resistance level: 104.35, 107.20<\/p>\n

Support level: 102.25, 100.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level at 0.6580. MACD which illustrated bearish momentum signal suggest the pair to extend its losses toward the support level at 0.6545.<\/p>\n

 <\/p>\n

Resistance level: 0.6580, 0.6620<\/p>\n

Support level: 0.6545, 0.6510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6315. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level at 0.6315.<\/p>\n

 <\/p>\n

Resistance level: 0.6355, 0.6385<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.3650. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward the next resistance level at 1.3830.<\/p>\n

 <\/p>\n

Resistance level: 1.3830, 1.4060<\/p>\n

Support level: 1.3650, 1.3360<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9265. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.9330.<\/p>\n

 <\/p>\n

Resistance level: 0.9330, 0.9450<\/p>\n

Support level: 0.9265, 0.9205<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggest the commodity to undergo technical rebound toward the resistance level at 39.20.<\/p>\n

 <\/p>\n

Resistance level: 39.20, 46.65<\/p>\n

Support level: 29.75, 25.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1663.90. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses after it successfully breakout below the support level at 1663.90.<\/p>\n

 <\/p>\n

Resistance level: 1686.45, 1703.85<\/p>\n

Support level: 1663.90, 1646.65<\/p>\n","protected":false},"excerpt":{"rendered":"

10 March 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Euro slumps as Italy shutdowns entirely. Euro experienced significant selloff during Asian trading session as coronavirus spread rapidly around Italy. According to Al-Jazeera, the total number of coronavirus cases rose by 1,797 on yesterday, bringing to a total of 9,172. On the other hand, death toll rose by […]<\/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\/105464"}],"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=105464"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/105464\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=105464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=105464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=105464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}