{"id":113705,"date":"2020-04-17T05:20:32","date_gmt":"2020-04-17T05:20:32","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=113705"},"modified":"2020-04-17T05:20:32","modified_gmt":"2020-04-17T05:20:32","slug":"170420-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170420-afternoon-session-analysis\/","title":{"rendered":"170420 Afternoon Session Analysis"},"content":{"rendered":"

17 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

Pound sterling fell following risk of Brexit resumes.<\/strong><\/span><\/p>\n

The pound sterling which traded against the dollar and its peer have fell during late Asian session as risk of U.K leaving the EU without a deal back in focus while both parties are set to renew talks for next week. According to latest development, UK and EU have agreed to the dates for the next three rounds of negotiations with talks set to take place by video conference in the weeks beginning April 20, May 11 and June 1. However, the U.K. have expressed its unwillingness to prolong the Brexit further and would refuse any European Union request to extend the Brexit transition period, according to Prime Minster Boris Johnson\u2019s spokesman. Market remains concerned about the risk of U.K leaving the EU without any trade deal would exert further on the economy due to the impact from the coronavirus pandemic. Thus, the ongoing uncertainty has dragged the currency sentiment lower. At the time of writing, GBP\/USD fell 0.10% to 1.2495.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 0.15% to $19.69 as of writing amid demand concerns continue to weigh on the commodity. According to reports, OPEC have expected that the global oil demand to decline by 6.9 million barrels per day and sees the demand contraction in the second quarter to be around 12 million bpd. Regarding the demand outlook, OPEC said downward risks were still significant. In the other hand, gold price fell 0.74% to $1705.07 at the time of writing amid broad U.S dollar strength.<\/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
17:00<\/td>\nEUR \u2013 CPI (YoY)(Mar)<\/td>\n0.7%<\/td>\n0.7%<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/p>\n

(18th<\/sup>)<\/td>\n

U.S. Baker Hughes Oil Rig Count<\/td>\n504<\/td>\n–<\/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 following prior rebound from the support level at 99.65. 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: 99.90 100.15<\/p>\n

Support level: 99.65, 99.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2455. 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: 1.2620, 1.2765<\/p>\n

Support level: 1.2455, 1.2205<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.0835. 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: 1.0905, 1.0945<\/p>\n

Support level: 1.0835, 1.0775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1<\/strong>: <\/strong>USDJPY was traded higher following prior rebound from the support level at 107.60. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 108.05, 108.35<\/p>\n

Support level: 107.60, 107.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6220. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6460.<\/p>\n

 <\/p>\n

Resistance level: 0.6460, 0.6640<\/p>\n

Support level: 0.6220, 0.5985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6020. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.5935.<\/p>\n

 <\/p>\n

Resistance level: 0.6020, 0.6120<\/p>\n

Support level: 0.5935, 0.5845<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.4180. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.3970.<\/p>\n

 <\/p>\n

Resistance level: 1.4180, 1.4390<\/p>\n

Support level: 1.3970, 1.3780<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9690. 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: 0.9690, 0.9775<\/p>\n

Support level: 0.9595, 0.9510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded within a range while currently near the support level at 19.25. MACD which illustrated increasing bearish momentum suggest the commodity to be traded lower after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 20.65, 22.50<\/p>\n

Support level: 19.25, 17.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1698.65. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1745.60, 1770.40<\/p>\n

Support level: 1698.65, 1657.80<\/p>\n

 <\/p>\n

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

17 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 Pound sterling fell following risk of Brexit resumes. The pound sterling which traded against the dollar and its peer have fell during late Asian session as risk of U.K leaving the EU without a deal back in focus while both parties are set to renew talks for next week. […]<\/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\/113705"}],"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=113705"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/113705\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=113705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=113705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=113705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}