{"id":116556,"date":"2020-04-30T05:06:54","date_gmt":"2020-04-30T05:06:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=116556"},"modified":"2020-04-30T05:06:54","modified_gmt":"2020-04-30T05:06:54","slug":"300420-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300420-afternoon-session-analysis\/","title":{"rendered":"300420 Afternoon Session Analysis"},"content":{"rendered":"

30 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

Euro mixed following plans of restart economy in EU.<\/strong><\/span><\/p>\n

The euro which traded against the dollar and other currency pair have slip during late Asian session as Eurozone have begun to recover its economy. Recently, France have proposed a plan to gently ease lockdown restrictions from the 11th May. The prime minister of France, Edouard Philippe stated that the move was necessary in order to avert the risk of economic \u201ccollapse\u201d. Besides that, Spain also announced plans to reopen its economy. Spanish Prime Minister Pedro S\u00e1nchez stated that the goal is \u2018to recover daily life without putting collective health at risk\u2019. The announcement helped the pair to stay afloat, however sentiment remain mixed in overall following increasing of coronavirus in other EU counterparts. In Germany, the number of confirmed coronavirus cases continue to rose with the number now stands at 159,119, while death toll at 6,288. Investors will now focus on upcoming decision from ECB where it is expected to keep the policy unchanged and assist in determine the future outlook for the market. At the time of writing, EUR\/USD have edge lower by 0.05% to 1.0854.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 8.36% to $17.16 per barrel as of writing amid early signs of slowing in oversupply. According to reports, U.S Treasury Secretary Steven Mnuchin stated that the government was exploring options “to store another several hundred million barrels” of oil. The comments have raised hopes for more supply to exit the market and bolster the output cuts planned by the Organization of the Petroleum Exporting Countries (OPEC) and other major producers. In the other hand, gold price remains steady and rose 0.04% to $1713.05 a troy ounce at the time of writing following the weakness of greenback continue to support the demand for the greenback.<\/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

19:45\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0 ECB Monetary Policy Statement<\/p>\n

20:30\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0 ECB Press Conference<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\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
15:55<\/td>\nEUR \u2013 German Unemployment Rate (Apr)<\/td>\n1K<\/td>\n76K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY)(Apr)<\/td>\n0.7%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 Deposit Facility Rate (Apr)<\/td>\n-0.50%<\/td>\n-0.50%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 ECB Marginal Lending Facility<\/td>\n0.25%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 Interest Rate Decision (Apr)<\/td>\n0.00%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n4,427K<\/td>\n3,500K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM)(Feb)<\/td>\n0.1%<\/td>\n0.1%<\/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 lower while currently near the support level at 99.45. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 99.90, 100.20<\/p>\n

Support level: 99.45, 99.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2515. 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: 1.2515, 1.2775<\/p>\n

Support level: 1.2300, 1.2095<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.0875. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.0810.<\/p>\n

 <\/p>\n

Resistance level: 1.0875, 1.0925<\/p>\n

Support level: 1.0810, 1.0735<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily<\/strong>: <\/strong>USDJPY was traded lower following prior breakout below the previous support level 107.30. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 105.00.<\/p>\n

 <\/p>\n

Resistance level: 107.30, 109.00<\/p>\n

Support level: 105.00, 103.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level 0.6665. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6665.<\/p>\n

 <\/p>\n

Resistance level: 0.6665, 0.6800<\/p>\n

Support level: 0.6450, 0.6265<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6075. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6200.<\/p>\n

 <\/p>\n

Resistance level: 0.6200, 0.6320<\/p>\n

Support level: 0.6075, 0.5955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level 1.3860. 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: 1.4185, 1.4485<\/p>\n

Support level: 1.3860, 1.3395<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9780. 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: 0.9780, 0.9880<\/p>\n

Support level: 0.9630, 0.9510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 17.60. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 17.60, 21.85<\/p>\n

Support level: 10.65, 6.60<\/p>\n

 <\/p>\n

\"\"
\nGOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1699.75. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1732.65.<\/p>\n

 <\/p>\n

Resistance level: 1732.65, 1770.40<\/p>\n

Support level: 1699.75, 1663.25<\/p>\n

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

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

30 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 Euro mixed following plans of restart economy in EU. The euro which traded against the dollar and other currency pair have slip during late Asian session as Eurozone have begun to recover its economy. Recently, France have proposed a plan to gently ease lockdown restrictions from the 11th May. […]<\/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\/116556"}],"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=116556"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/116556\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=116556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=116556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=116556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}