{"id":122071,"date":"2020-05-26T04:27:49","date_gmt":"2020-05-26T04:27:49","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=122071"},"modified":"2020-05-26T04:27:49","modified_gmt":"2020-05-26T04:27:49","slug":"260520-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260520-afternoon-session-analysis\/","title":{"rendered":"260520 Afternoon Session Analysis"},"content":{"rendered":"

26 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

Japanese Yen fell amid BoJ Kuroda downside risk talk.<\/strong><\/span><\/p>\n

During late Asian session, the Japanese Yen have fell against the greenback and other currency pars after BoJ Governor Haruhiko Kuroda expressed his pessimism on the economy. According to latest report, Kuroda stated that the Japan’s economy will likely to remain in a severe state and prices to remain on a weak note due to pandemic impact. He also added further that the risks to Japan economic outlook are remain skewed to the downside. Besides that, BoJ also mentions that the central bank is always ready to do more and ease further without hesitation if needed to support the economy. The comments have caused some negative impact on the sentiment, thus exerting selling pressure for the currency. At the time of writing, USD\/JPY rose 0.15% to 107.85.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains strong and rose 0.92% to $34.07 per barrel as of writing following Russia comments. According to reports, Russia stated that its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with the OPEC, which boosted market sentiment. In the other hand, gold price edge higher 0.22% to 1732.66 a troy ounce at the time of writing amid weakness 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

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

05:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoC Gov Poloz Speaks<\/p>\n

(27th<\/sup>)<\/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
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (May)<\/td>\n86.9<\/td>\n88.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 New Home Sales (Apr)<\/td>\n627K<\/td>\n490K<\/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 lower following prior retracement from its lows while currently testing near the support level 99.50. MACD which illustrate diminishing bullish momentum suggest the dollar to extend its losses after it breaks below the support level.<\/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 higher following recent rebound from its lows. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its rebound in short term towards the resistance level 1.2255.<\/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 higher following prior rebound from the support level 1.0885. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.0995.<\/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 recent rebound from the support level 107.35. MACD which illustrate diminishing bearish bias signal with the formation of golden cross suggest the pair to extend its gains in short term 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

 <\/p>\n

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

\u00a0<\/strong>AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level 0.6560. MACD which illustrate diminishing bearish momentum with the starting formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/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 following prior rebound from the support level 0.6070. MACD which illustrate diminishing bearish bias signal suggest the pair to extend its rebound towards the resistance level 0.6150.<\/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 with the starting formation of death cross 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 following prior retracement from the resistance level 0.9730. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.9665.<\/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. MACD which illustrate diminishing bearish bias signal suggest the commodity to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

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

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

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

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

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1726.90. However, MACD which display diminishing bearish bias signal with the formation of golden cross suggest the commodity to be traded higher as a technical correction towards the resistance level 1768.05.<\/p>\n

 <\/p>\n

Resistance level: 1768.05, 1800.00<\/p>\n

Support level: 1726.90, 1673.95<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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   Japanese Yen fell amid BoJ Kuroda downside risk talk. During late Asian session, the Japanese Yen have fell against the greenback and other currency pars after BoJ Governor Haruhiko Kuroda expressed his pessimism on the economy. According to latest report, Kuroda stated that the Japan’s economy will likely […]<\/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\/122071"}],"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=122071"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/122071\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=122071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=122071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=122071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}