{"id":112767,"date":"2020-04-14T05:27:41","date_gmt":"2020-04-14T05:27:41","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=112767"},"modified":"2020-04-14T05:28:13","modified_gmt":"2020-04-14T05:28:13","slug":"140420-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140420-afternoon-session-analysis\/","title":{"rendered":"140420 Afternoon Session Analysis"},"content":{"rendered":"

14 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 fell following moody earning season expectation.<\/strong><\/span><\/p>\n

\u00a0<\/strong>The dollar index which traded against a basket of six major currency pairs have resume its decline during late Asian session as market braced for disappointing U.S earning seasons. The expectation came after U.S. announced on Thursday that over 16 million people claimed unemployment since March 21. With the U.S earnings season began on Tuesday; investors are bracing for dire economy reports during the crisis darkest months. On top of that, increasing U.S debt and budget deficit also exert additional pressure for the greenback. According to reports. The U.S. federal budget deficit is on track to exceed $3.8 trillion this year even if Congress doesn\u2019t enact any more stimulus spending, and the nation\u2019s debt could rise to levels not seen since the country emerged from World War II. Meanwhile, pound sterling continues to climbs despite extended lockdown in the U.K. Despite with coronavirus death toll in U.K surged beyond 11,000, market was mostly unfazed by the numbers as investors are concentrating on more than 20,000 from the US, which is the global epicentre. On top of that, the recent exit of U.K Prime Minister Boris Johnson from the ICU continue to support the demand for the pound sterling. According to the Guardian, Boris Johnson\u2019s spokesman stated that he is currency focusing on recovery. At the time of writing, dollar index fell 0.18% to 99.17 while GBP\/USD gains 0.48% to 1.2564.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains pressured and edge lower 0.23% to $22.63 per barrel as of writing following investors\u2019 scepticism on the deal by the world\u2019s biggest producers to cut output could help stabilize the market from the coronavirus pandemic. Despite with the agreement of 9.7 million barrels output cut recently, investors still expressing doubt as the global market remains very oversupplied, and Aramco is still prepared to fight for its market share. On the other hand, gold price soars 0.15% to $1716.62 a troy ounce at the time of writing amid broad weakness of the greenback prompt investors to shift their portfolio into safe-haven gold.<\/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\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower while currently testing the support level at 99.05. MACD which illustrated increasing bearish momentum suggest the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 100.15, 100.75<\/p>\n

Support level: 99.05, 98.35<\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher while currently near the resistance level at 1.2585. 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: 1.2585, 1.2765<\/p>\n

Support level: 1.2435, 1.2205<\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.0945. 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: 1.0945, 1.1025<\/p>\n

Support level: 1.0850, 1.0775<\/p>\n

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

\"\"<\/p>\n

USDJPY, Daily<\/strong>: <\/strong>USDJPY was traded lower while currently testing the support level at 107.55. 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: 109.25, 110.25<\/p>\n

Support level: 107.55, 106.40<\/p>\n

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

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently near the resistance level at 0.6450. 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: 0.6460, 0.6640<\/p>\n

Support level: 0.6185, 0.5985<\/p>\n

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

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6070. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6205.<\/p>\n

 <\/p>\n

Resistance level: 0.6205, 0.6340<\/p>\n

Support level: 0.6070, 0.5955<\/p>\n

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

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.4005. Due to lack of signal from MACD, it is suggested to wait for further confirmation before entering into the market.<\/p>\n

 <\/p>\n

Resistance level: 1.4005, 1.4255<\/p>\n

Support level: 1.3805, 1.3610<\/p>\n

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

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9635. 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: 0.9765, 0.9890<\/p>\n

Support level: 0.9635, 0.9495<\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 23.90. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 23.90, 26.05<\/p>\n

Support level: 21.60, 19.75<\/p>\n

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

 <\/p>\n

\"\"
\nGOLD_, H1: <\/strong>Gold price was traded higher while currently testing the resistance level at 1725.15. However, MACD which illustrated increasing bearish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1725.15, 1745.60<\/p>\n

Support level: 1683.25, 1646.30<\/p>\n","protected":false},"excerpt":{"rendered":"

14 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 fell following moody earning season expectation. \u00a0The dollar index which traded against a basket of six major currency pairs have resume its decline during late Asian session as market braced for disappointing U.S earning seasons. The expectation came after U.S. announced on Thursday that over 16 million people […]<\/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\/112767"}],"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=112767"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/112767\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=112767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=112767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=112767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}