{"id":126565,"date":"2020-06-16T04:21:13","date_gmt":"2020-06-16T04:21:13","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=126565"},"modified":"2020-06-16T04:22:50","modified_gmt":"2020-06-16T04:22:50","slug":"160620-morning-session-analysis-2","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160620-morning-session-analysis-2\/","title":{"rendered":"160620 Afternoon Session Analysis"},"content":{"rendered":"

16 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

 <\/p>\n

Pound sterling gains following Brexit talk intensify.<\/strong><\/span><\/p>\n

During late Asian session, the pound sterling which traded against the greenback and other currency pairs have gained following U.K and EU agreed to quicken post-Brexit talk which Prime Minister Boris Johnson hopes that a deal could be reached by the end of next month. According to reports, U.K Prime Minster Boris Johnson stated that he would work with the EU to achieve mutual understanding in order to break the deadlock after previous talks failed to achieve any progress. Besides that, Boris Johnson also added that he sees no reason why the outline of a Brexit deal could not be agreed by the end of July and insisted that U.K would not extend trade talks beyond December after EU has suggested Oct. 31 as the latest date a deal can be reached. At the time of writing, GBP\/USD rose 0.33% to 1.2642.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price extend rebound and gains 0.15% to $37.06 per barrel as of writing following producer cuts offset demand concerns. According to reports, OPEC and its allies agreed to extend historic output cuts through July. On the other hand, gold price soars 0.31% to $1730.35 a troy ounce at the time of writing 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

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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

15:00\u00a0\u00a0\u00a0\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 BoJ Press Conference<\/p>\n

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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
17:00<\/td>\nEUR – German ZEW Economic Sentiment (Jun)<\/td>\n51.0<\/td>\n60.0<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core Retail Sales (MoM) (May)<\/td>\n-17.2%<\/td>\n5.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Retail Sales (MoM) (May)<\/td>\n-16.4%<\/td>\n8.0%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 96.90. MACD which illustrate bearish momentum signal suggest the pair to extend its losses toward the support level at 95.95.<\/p>\n

 <\/p>\n

Resistance level: 96.90, 97.60<\/p>\n

Support level: 95.95, 95.00<\/p>\n

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\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.2585. MACD which illustrate ongoing bullish momentum suggest the pair to extend its gains toward the resistance level at 1.2720.<\/p>\n

 <\/p>\n

Resistance level: 1.2720, 1.2870<\/p>\n

Support level: 1.2585, 1.2485<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1240. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1.1400.<\/p>\n

 <\/p>\n

Resistance level: 1.1400, 1.1555<\/p>\n

Support level: 1.1240, 1.1115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 107.15. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 108.15.<\/p>\n

 <\/p>\n

Resistance level: 108.15, 109.35<\/p>\n

Support level: 107.15, 106.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6935. MACD which display diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 0.7210.<\/p>\n

 <\/p>\n

Resistance level: 0.7210, 0.7610<\/p>\n

Support level: 0.6935, 0.6655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6405. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 0.6565.<\/p>\n

 <\/p>\n

Resistance level: 0.6565, 0.6735<\/p>\n

Support level: 0.6405, 0.6200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3650. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.3360.<\/p>\n

 <\/p>\n

Resistance level: 1.3650, 1.3830<\/p>\n

Support level: 1.3360, 1.3075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9500. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 0.9395.<\/p>\n

 <\/p>\n

Resistance level: 0.9500, 0.9575<\/p>\n

Support level: 0.9395, 0.9265<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to undergo technical correction toward the support level at 36.10.<\/p>\n

 <\/p>\n

Resistance level: 37.90, 39.25<\/p>\n

Support level: 36.10, 34.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the support level at 1707.55. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1743.20.<\/p>\n

 <\/p>\n

Resistance level: 1743.20, 1763.85<\/p>\n

Support level: 1707.55, 1675.45<\/p>\n","protected":false},"excerpt":{"rendered":"

16 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 Brexit talk intensify. During late Asian session, the pound sterling which traded against the greenback and other currency pairs have gained following U.K and EU agreed to quicken post-Brexit talk which Prime Minister Boris Johnson hopes that a deal could be reached by the […]<\/p>\n","protected":false},"author":25,"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\/126565"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=126565"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/126565\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=126565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=126565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=126565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}