{"id":121755,"date":"2020-05-25T04:54:56","date_gmt":"2020-05-25T04:54:56","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=121755"},"modified":"2020-05-25T04:54:56","modified_gmt":"2020-05-25T04:54:56","slug":"250520-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250520-afternoon-session-analysis\/","title":{"rendered":"250520 Afternoon Session Analysis"},"content":{"rendered":"

25 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

 <\/p>\n

Aussie rose amid risk reset.<\/strong><\/span><\/p>\n

The Aussie dollar which traded against the greenback and other currency pairs have posted modest gains during late Asian session after the lack of U.S response towards the Hong Kong issue triggered risk reset. Despite with the tension between U.S and China continue to keep the buyers worried, the latest silence on the part of US President Donald Trump over the Hong Kong issue have contribute some momentum to the pairs. As US policymakers recently hinted that it will make sure that Hong Kong remains free from Chinese pressure, Beijing announced readiness to enact e legislation that would tighten the nation\u2019s grip over Hong Kong. The majority of the Western world diplomats criticized the Asian major\u2019s efforts to harm the neighbour’s democracy, however the US President Trump is surprisingly silent over the issue. Besides that, lack of major data and US holidays also giving the pair chances to nurses its previous losses. At the time of writing, AUD\/USD rose 0.03% to 0.6532.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slips 0.11% to $33.16 per barrel as of writing following U.S.-China tension fueled uncertainty towards the economy. While the recent outlook for the black commodity remains positive, an escalating war of words between the U.S. and China have triggered some concerns over the prospect for a global recovery in demand, thus dragging the sentiment at the moment. In the other hand, gold price fell 0.36% to $1728.70 a troy ounce at the time of writing amid strengthening of dollar.<\/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\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Memorial Day<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Bank Holiday<\/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
14:00<\/td>\nEUR \u2013 German GDP (QoQ)(Q1)<\/td>\n-2.2%<\/td>\n-2.2%<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 German Ifo Business Climate Index (May)<\/td>\n74.3<\/td>\n78.3<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level 99.50. MACD which illustrate persistent bullish momentum signal suggest the dollar to extend its gains towards the resistance level 100.25.<\/p>\n

 <\/p>\n

Resistance level: 100.25, 100.95<\/p>\n

Support level: 99.50, 98.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following recent retracement from the resistance level 1.2255. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience short term technical correction back towards the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2255, 1.2435<\/p>\n

Support level: 1.2070, 1.1870<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.0885. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.0995, 1.1140<\/p>\n

Support level: 1.0885, 1.0730<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level 107.35. MACD which illustrate diminishing bearish bias signal with the starting formation of golden cross suggest the pair to extend its gains towards the resistance level 108.05.<\/p>\n

 <\/p>\n

Resistance level: 108.05, 108.55<\/p>\n

Support level: 107.35, 106.50<\/p>\n


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

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

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level 0.6560. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses towards the support level 0.6390.<\/p>\n

 <\/p>\n

Resistance level: 0.6560, 0.6670<\/p>\n

Support level: 0.6390, 0.6265<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level 0.6070. MACD which illustrate persistent bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6150, 0.6250<\/p>\n

Support level: 0.6070, 0.6005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level 1.4020. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 1.3860.<\/p>\n

 <\/p>\n

Resistance level: 1.4020, 1.4140<\/p>\n

Support level: 1.3865, 1.3685<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level 0.9730. MACD which illustrate ongoing bullish bias signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.9730, 0.9795<\/p>\n

Support level: 0.9665, 0.9595<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance level 35.35. However, MACD which illustrate bearish bias signal suggest the commodity to be traded lower as a technical correction towards the support level 28.00<\/p>\n

 <\/p>\n

Resistance level: 35.35, 43.50<\/p>\n

Support level: 28.00, 21.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level 1731.20. MACD which display bearish bias signal suggest the commodity to extend its losses towards the support level 1673.95.<\/p>\n

 <\/p>\n

Resistance level: 1731.20, 1768.05<\/p>\n

Support level: 1673.95, 1607.55<\/p>\n","protected":false},"excerpt":{"rendered":"

25 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   Aussie rose amid risk reset. The Aussie dollar which traded against the greenback and other currency pairs have posted modest gains during late Asian session after the lack of U.S response towards the Hong Kong issue triggered risk reset. Despite with the tension between U.S and China continue […]<\/p>\n","protected":false},"author":54,"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\/121755"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=121755"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/121755\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=121755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=121755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=121755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}