{"id":128578,"date":"2020-06-29T06:36:41","date_gmt":"2020-06-29T06:36:41","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=128578"},"modified":"2020-06-29T06:36:41","modified_gmt":"2020-06-29T06:36:41","slug":"290620-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290620-afternoon-session-analysis\/","title":{"rendered":"290620 Afternoon Session Analysis"},"content":{"rendered":"

29 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

Yen struggles amid downbeat data.<\/strong><\/span><\/p>\n

The Japanese Yen which traded against the dollar and other currency pairs have fell during late Asian session following the release of Japan trade data. According to the Ministry of Economy, Trade and Industry from Japan, retail sales in the country have fell by -12.3%, weaker than market expectation of -11.6%. Furthermore, Large Retailer Sales in May also deteriorate by -16.7%, missing market expectation of -16.7%. Still, despite with the disappointing data offered immediate direction for the pair, overall risk aversion due to COVID-19 help limiting the losses while the pair awaiting for further catalyst to determine clear direction. On coronavirus update, the death toll from COVID-19 have now reached half a million while reported cases of coronavirus also exceeds 10 million. At the time of writing, USD\/JPY rose 0.04% to 107.24.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price edge lower 0.11% to $37.88 per barrel as of writing following the re-emergence of Covid-19 cases in some countries hurt demand outlook. New outbreaks are reported in countries including China, New Zealand and Australia may prompting governments to impose restrictions again, thus affecting the market sentiment. On the other hand, gold price remains steady and rose 0.04% to $1769.39 a troy ounce at the time of writing following broad risk aversion support the demand for the safe-haven commodity.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales MoM<\/td>\n-21.8%<\/td>\n19.7%<\/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 remain traded in a sideway channel while currently testing near the resistance level 97.55. However, MACD which illustrate bearish bias signal with the starting formation of death cross suggest the dollar to be traded lower towards the support level 95.90.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98.80<\/p>\n

Support level: 95.90, 94.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level 1.2340. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.2510.<\/p>\n

 <\/p>\n

Resistance level: 1.2510, 1.2660<\/p>\n

Support level: 1.2340, 1.2165<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat while currently testing the support level 1.1225. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher as a technical correction towards the resistance level 1.1390.<\/p>\n

 <\/p>\n

Resistance level: 1.1390, 1.1505<\/p>\n

Support level: 1.1225, 1.1090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded flat in a sideway channel. Due to lack of momentum and clear direction from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 107.40, 108.00<\/p>\n

Support level: 106.60, 106.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel while currently testing near the support level 0.6820. However, MACD which illustrate diminishing bearish momentum with the starting formation of golden cross suggest the pair to be traded higher towards the resistance level 0.7020.<\/p>\n

 <\/p>\n

Resistance level: 0.7020, 0.7195<\/p>\n

Support level: 0.6820, 0.6680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD remain traded flat in a sideway channel. Due to lack of clear direction and momentum from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 0.6490, 0.6580<\/p>\n

Support level: 0.6370, 0.6235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel while currently testing near the resistance level 1.3685. However, MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the pair to be traded lower as a pullback towards the support level 1.1385.<\/p>\n

 <\/p>\n

Resistance level: 1.3645, 1.3810<\/p>\n

Support level: 1.3485, 1.3330<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded flat in a sideway channel while currently testing near the support level 0.9460. However, MACD which illustrate diminishing bullish momentum with the starting formation of death cross suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9545, 0.9650<\/p>\n

Support level: 0.9460, 0.9365<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remain traded in a sideway channel following recent retracement from its high level. However, MACD which illustrate bearish bias signal suggest the commodity to extend its downward momentum in short term towards the support level 35.05.<\/p>\n

 <\/p>\n

Resistance level: 40.45, 43.85<\/p>\n

Support level: 35.05, 31.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1764.25. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its gains towards the resistance level 1795.80.<\/p>\n

 <\/p>\n

Resistance level: 1795.80, 1825.25<\/p>\n

Support level: 1764.25, 1736.80<\/p>\n","protected":false},"excerpt":{"rendered":"

29 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   Yen struggles amid downbeat data. The Japanese Yen which traded against the dollar and other currency pairs have fell during late Asian session following the release of Japan trade data. According to the Ministry of Economy, Trade and Industry from Japan, retail sales in the country have fell […]<\/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\/128578"}],"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=128578"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/128578\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=128578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=128578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=128578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}