{"id":125454,"date":"2020-06-09T04:20:49","date_gmt":"2020-06-09T04:20:49","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=125454"},"modified":"2020-06-09T04:20:49","modified_gmt":"2020-06-09T04:20:49","slug":"090620-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090620-afternoon-session-analysis\/","title":{"rendered":"090620 Afternoon Session Analysis"},"content":{"rendered":"

09 June 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

Loonie gains following Canadian housing data.<\/strong><\/span><\/p>\n

The Canadian Loonie which traded against the greenback and other currency pairs have extend its gains during late Asian session as data showing Canadian Housing Starts bounced back for last month. According to the Canadian Mortgage and Housing Corporation, housing starts which measure new single-family homes and buildings have improved by 193.5k, surpassing market forecast of 150K. Despite with the falling oil prices, the positive data managed to help Loonie to maintain its resilience. However, easing risk-on sentiment due to ongoing U.S \u2013 China tension could limit further potential for the pair while investors awaits more signal to determine further direction. At the time of writing, USD\/CAD fell 0.07% to 1.3387.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price continues to pare losses and rose 0.77% to $38.34 per barrel as of writing amid ongoing optimism towards easing of lockdowns. As the world economies recovers and easing lockdowns., confidence among investors continue to grows. New York City, the U.S. city hardest hit by the novel coronavirus outbreak, began reopening on Monday after about three months in a sign that life is returning to pre-outbreak routines that could spur fuel demand to return. On the other hand, gold price slips 0.16% to $1695.80 a troy ounce at the time of writing amid increasing market risk appetite due to global recovery outlook.<\/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
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Apr)<\/td>\n6.191M<\/td>\n5.375M<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(10th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-0.500M<\/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 lower while currently testing the support level at 96.55. 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: 97.30, 97.95<\/p>\n

Support level: 96.55, 96.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2640. 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: 1.2785, 1.2950<\/p>\n

Support level: 1.2640, 1.2510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1335. 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: 1.1335, 1.1420<\/p>\n

Support level: 1.1240, 1.1160<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 108.70. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 107.80.<\/p>\n

 <\/p>\n

Resistance level: 108.70, 109.65<\/p>\n

Support level: 107.80, 107.15<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7010. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6955.<\/p>\n

 <\/p>\n

Resistance level: 0.7010, 0.7075<\/p>\n

Support level: 0.6955, 0.6880<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6600. 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: 0.6600, 0.6725<\/p>\n

Support level: 0.6425, 0.6265<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3470. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3470, 1.3585<\/p>\n

Support level: 1.3310, 1.3205<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9555. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9600.<\/p>\n

 <\/p>\n

Resistance level: 0.9600, 0.9645<\/p>\n

Support level: 0.9555, 0.9505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower while currently testing the support level at 38.15. 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: 40.30, 42.95<\/p>\n

Support level: 38.15, 36.00<\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1698.30. 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: 1698.30, 1717.80<\/p>\n

Support level: 1676.75, 1648.05<\/p>\n","protected":false},"excerpt":{"rendered":"

09 June 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 Loonie gains following Canadian housing data. The Canadian Loonie which traded against the greenback and other currency pairs have extend its gains during late Asian session as data showing Canadian Housing Starts bounced back for last month. According to the Canadian Mortgage and Housing Corporation, housing starts which measure […]<\/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\/125454"}],"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=125454"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/125454\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=125454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=125454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=125454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}