{"id":117239,"date":"2020-05-05T05:19:32","date_gmt":"2020-05-05T05:19:32","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=117239"},"modified":"2020-05-05T05:19:32","modified_gmt":"2020-05-05T05:19:32","slug":"050520-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/050520-afternoon-session-analysis\/","title":{"rendered":"050520 Afternoon Session Analysis"},"content":{"rendered":"

05 May 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 rose following worries of US-Sino trade war.<\/strong><\/span><\/p>\n

The dollar index which traded against a basket of six major currency pairs have caught bid during late Asian session following concerns over U.S.-China dispute will be re-ignited due to the coronavirus. Recently, U.S. President Donald Trump and Secretary of State Mike Pompeo have blamed the pandemic on China, where they believed that is the place where the coronavirus outbreak is originated. Following latest development, Secretary of State Mike Pompeo also claims that there was “a significant amount of evidence” that the virus emerged from a laboratory in the central Chinese city of Wuhan. Despite Mike Pompeo did not provide any evidence, the comments have dragged down risk sentiment in the market. As tensions began to flare, market have been dominated by risk-averse trading where safe-haven market such as greenback and yen attract bid from investors. In the time of writing, dollar index rose 0.04% to 99.45.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price surge 0.80% to $21.83 per barrel as of writing amid improving demand prospect. As some U.S. states and nations in Europe and Asia start to ease coronavirus lockdown measures, the outlook for fuel demand have rose, thus boosting the sentiment for the commodity for the moment. In the other hand, gold price remains stable and rose 0.05% to $1700.72 a troy ounce at the time of writing following ongoing fears of trade war and coronavirus.<\/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

All Day \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 Special Holiday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CNY\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 Labor Day<\/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

Tentative\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 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 EU Economic Forecasts<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:30<\/td>\nGBP \u2013 Composite PMI (Apr)<\/td>\n36.0<\/td>\n12.9<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Construction PMI (Apr)<\/td>\n39.3<\/td>\n44.0<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Apr)<\/td>\n12.3<\/td>\n12.2<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Apr)<\/td>\n52.5<\/td>\n44.0<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(6th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n10.000M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

T<\/u><\/strong>echnical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded within a range while currently testing the resistance level at 99.55. MACD which illustrated increasing bearish momentum suggest the index to be traded higher after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 99.55, 100.15<\/p>\n

Support level: 98.85, 98.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2575. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.2295.<\/p>\n

 <\/p>\n

Resistance level: 1.2575, 1.2770<\/p>\n

Support level: 1.2295, 1.2045<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.0925. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.0875.<\/p>\n

 <\/p>\n

Resistance level: 1.0925, 1.0960<\/p>\n

Support level: 1.0875, 1.0830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily<\/strong>: <\/strong>USDJPY was traded lower while currently testing the support level at 106.50. 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: 109.00, 110.20<\/p>\n

Support level: 106.50, 105.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6405. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6540.<\/p>\n

 <\/p>\n

Resistance level: 0.6540, 0.6680<\/p>\n

Support level: 0.6405, 0.6235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6070. 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: 0.6070, 0.6130<\/p>\n

Support level: 0.6000, 0.5940<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.4155. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.4155, 1.4485<\/p>\n

Support level: 1.3850, 1.3655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9585. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.9780.<\/p>\n

 <\/p>\n

Resistance level: 0.9780, 0.9880<\/p>\n

Support level: 0.9585, 0.9495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 20.65. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 24.30.<\/p>\n

 <\/p>\n

Resistance level: 24.30, 28.50<\/p>\n

Support level: 20.65, 17.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower while currently testing the support level at 1697.40. 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: 1710.00, 1718.50<\/p>\n

Support level: 1697.40, 1684.70<\/p>\n

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

05 May 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 rose following worries of US-Sino trade war. The dollar index which traded against a basket of six major currency pairs have caught bid during late Asian session following concerns over U.S.-China dispute will be re-ignited due to the coronavirus. Recently, U.S. President Donald Trump and Secretary of State […]<\/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\/117239"}],"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=117239"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/117239\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=117239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=117239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=117239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}