{"id":125671,"date":"2020-06-10T05:22:56","date_gmt":"2020-06-10T05:22:56","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=125671"},"modified":"2020-06-10T05:22:56","modified_gmt":"2020-06-10T05:22:56","slug":"100620-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100620-afternoon-session-analysis\/","title":{"rendered":"100620 Afternoon Session Analysis"},"content":{"rendered":"

10 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

Pound sterling gains following further lockdown easing.<\/strong><\/span><\/p>\n

The pound sterling which traded against the greenback and other currency pairs extend its gains during late Asian session following announcement of further easing lockdown. On Tuesday, British Business Secretary Alok Sharma took over the daily coronavirus (COVID-19) briefings. According to reports. It is confirmed that shops in the UK will reopen on June 15. UK Prime Minister is also expected to announce some more guidelines for the easing of the pandemic-led halt in the economic activities and also updates on how the economy will reopen. Additionally, Sky News mentioned that the policymaker at legislation will make it harder for Chinese firms to invest in UK infrastructure in response to China\u2019s agitation of respecting the UK government\u2019s shift in practices against Huawei. At the time of writing, GBP\/USD rose 0.09% to 1.2740.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price retreats 0.14% to 38.20 per barrel following fading confidence of recovery outlook. Despite OPEC+ producers committed to extend cuts until the end of July, market confidence have slowly fading due the number of global cases continuing to increase daily and some countries, including South Korea, battling a second wave of cases. Investors fear the resurgence of cases would once again impact the demand recovery. In the other hand, gold price rose 0.08% to $1715.80 a troy ounce amid dollar weakness.<\/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

02:00 \u00a0\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\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 FOMC Economic Projections<\/p>\n

(11th<\/sup>)<\/p>\n

02:00 \u00a0\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\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 FOMC Statement<\/p>\n

(11th<\/sup>)<\/p>\n

02:30 \u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Press Conference<\/p>\n

(11th<\/sup>)<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
22:30<\/td>\nUSD \u2013 Core CPI (MoM)(May)<\/td>\n-0.4%<\/td>\n-0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-2.077M<\/td>\n-1.738M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(11th<\/sup>)<\/td>\n

USD \u2013 Fed Interest Rate Decision<\/td>\n0.25%<\/td>\n0.25%<\/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 96.20. 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: 96.50, 96.95<\/p>\n

Support level: 96.20, 95.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2765. 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: 1.2765, 1.2910<\/p>\n

Support level: 1.2580, 1.2435<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1405. 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: 1.1405, 1.1555<\/p>\n

Support level: 1.1160, 1.0980<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the support level at 107.50. MACD which illustrated increasing bearish momentum suggest the pair the extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 108.75, 109.70<\/p>\n

Support level: 107.50, 106.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6895. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.7025.<\/p>\n

 <\/p>\n

Resistance level: 0.7025, 0.7240<\/p>\n

Support level: 0.6895, 0.6715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6545. 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: 0.6545, 0.6725<\/p>\n

Support level: 0.6350, 0.6185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3480. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.3355.<\/p>\n

 <\/p>\n

Resistance level: 1.3480, 1.3690<\/p>\n

Support level: 1.3355, 1.3200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9500. 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: 0.9620, 0.9730<\/p>\n

Support level: 0.9500, 0.9425<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 40.60. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 34.30.<\/p>\n

 <\/p>\n

Resistance level: 40.60, 46.65<\/p>\n

Support level: 34.30, 28.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1718.75. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1718.75, 1739.05<\/p>\n

Support level: 1697.10, 1675.05<\/p>\n

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

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

10 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 Pound sterling gains following further lockdown easing. The pound sterling which traded against the greenback and other currency pairs extend its gains during late Asian session following announcement of further easing lockdown. On Tuesday, British Business Secretary Alok Sharma took over the daily coronavirus (COVID-19) briefings. According to reports. […]<\/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\/125671"}],"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=125671"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/125671\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=125671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=125671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=125671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}