{"id":110255,"date":"2020-04-02T05:52:33","date_gmt":"2020-04-02T05:52:33","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=110255"},"modified":"2020-04-02T05:52:33","modified_gmt":"2020-04-02T05:52:33","slug":"020420-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/020420-afternoon-session-analysis\/","title":{"rendered":"020420 Afternoon Session Analysis"},"content":{"rendered":"

02 April 2020\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

Dollar regains as investors seek safety in liquidity.<\/strong><\/span><\/p>\n

The dollar index which is traded against a basket of six major currency pairs have climbed during late Asian following the worsening coronavirus that have caused massive disruption to global economy have prompt investors rushed back to the world\u2019s most liquid currency. Investors were spooked after U.S President Donald Trump warned America to brace for a \u201cpainful two weeks\u201d following the White House projected that the coronavirus pandemic could claim 100,000 to 240,000 lives even with the current social distancing guidelines are maintained. As of now, the number of coronavirus cases in the United States have surpassed 200,000 with the total number of infections at 215215 while death toll stands at 5110. U.S officials also warned spikes in confirmed cases may soon be seen outside of large city centres. Market will now focus on upcoming data such as U.S Jobless Claims to obtain further information as economist across North America are expecting that the United States will set another record for unemployment claims. As of writing, dollar index rose 0.04% to 99.61.<\/p>\n

 <\/p>\n

In the commodities market, the price of crude oil rose 0.67% to $21.06 at the time of writing following hopes of truce deal between Saudi Arabia and Russia. According to recent reports, U.S. President Trump have stated that he expected the two producers to come to an agreement within the next few days. Besides that, he also added that he has invited U.S. oil executives to the White House to discuss ways to help the industry. On the other hand, gold price fell 0.42% to $1584.62 as of writing amid ongoing bid for the dollar due to liquidity.<\/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

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:30<\/td>\nGBP \u2013 Construction PMI (Mar)<\/td>\n52.6<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n3283K<\/td>\n3500K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded higher while currently near the resistance level at 99.85. However, MACD which illustrated increasing bearish momentum suggest the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 99.85, 100.75<\/p>\n

Support level: 98.90, 98.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2500. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.2300.<\/p>\n

 <\/p>\n

Resistance level: 1.2500, 1.2730<\/p>\n

Support level: 1.2300, 1.2125<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower while currently testing the support level at 1.0930. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1005, 1.1065<\/p>\n

Support level: 1.0930, 1.0850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level at 107.15. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 107.80.<\/p>\n

 <\/p>\n

Resistance level: 107.80,108.35<\/p>\n

Support level: 107.15, 106.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6060. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6180, 0.6290<\/p>\n

Support level: 0.6060, 0.5955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.5900. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6045, 0.6155<\/p>\n

Support level: 0.5900, 0.5785<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.4215. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.4085.<\/p>\n

 <\/p>\n

Resistance level: 1.4215, 1.4375<\/p>\n

Support level: 1.4085, 1.3930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9625. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9740, 0.9830<\/p>\n

Support level: 0.9625, 0.9495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 20.25. however, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 21.80, 23.35<\/p>\n

Support level: 20.25, 19.10<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"
\nGOLD_, Daily: <\/strong>Gold price was traded lower while currently near the support level at 1576.55. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1605.90, 1643.15<\/p>\n

Support level: 1576.55, 1546.45<\/p>\n

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

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

02 April 2020\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 Dollar regains as investors seek safety in liquidity. The dollar index which is traded against a basket of six major currency pairs have climbed during late Asian following the worsening coronavirus that have caused massive disruption to global economy have prompt investors rushed back to the world\u2019s most liquid […]<\/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\/110255"}],"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=110255"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/110255\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=110255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=110255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=110255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}