{"id":130598,"date":"2020-07-10T04:07:26","date_gmt":"2020-07-10T04:07:26","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=130598"},"modified":"2020-07-10T04:07:26","modified_gmt":"2020-07-10T04:07:26","slug":"100720-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100720-afternoon-session-analysis\/","title":{"rendered":"100720 Afternoon Session Analysis"},"content":{"rendered":"

10 July 2020\u00a0\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

Greenback remain buoyed by coronavirus.<\/strong><\/span><\/p>\n

During late Asian session, the dollar index which traded against a basket of six major currency pairs continue to offer bid after the ongoing surge in new coronavirus cases continue to undermined the prospect of recovery. Recently, more than 60,000 new COVID-18 infections have reported in the U.S which is the highest single day increase by any country so far. The worsening pandemic outlook in the U.S have already discouraging some U.S citizens to return to public spaces. On the other hand, political uncertainty also help boosted the dollar as U.S Supreme Court ruled that a New York prosecutor can obtain President Donald Trump’s financial records. As Donald Trump is facing a ongoing battle for re-election, he is fighting tenaciously to keep his tax record and documents of his financial secrets. At the time of writing, dollar index rose 0.14% to 96.77.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price plummets 0.34% to $39.30 per barrel as of writing following heightening cases of coronavirus that could dampened the outlook for recovery remain weighted heavily on the market. As U.S continue to achieve new record for single day cases, the possibility of lockdown may be return and would cause fuel consumption to slump again. Thus, dragging down the price of the commodity. Next, gold price also fell 0.07% to $1802.13 a troy ounce at the time of writing following dollar strength and its better appeal as a safe-haven market.<\/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

16:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\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 IEA Monthly Report<\/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
20:30<\/td>\nUSD \u2013 PPI (MoM) (Jun)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Employment Change (Jun)<\/td>\n289.6K<\/td>\n800.0K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/u><\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the top level of downward channel. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 96.90.<\/p>\n

 <\/p>\n

Resistance level: 96.90, 97.55<\/p>\n

Support level: 96.10, 95.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2625. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses toward the support level at 1.2525.<\/p>\n

 <\/p>\n

Resistance level: 1.2625, 1.2665<\/p>\n

Support level: 1.2525, 1.2435<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.1285. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 1.1245.<\/p>\n

 <\/p>\n

Resistance level: 1.1285, 1.1320<\/p>\n

Support level: 1.1245, 1.1200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 107.50. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 106.95.<\/p>\n

 <\/p>\n

Resistance level: 107.50, 107.95<\/p>\n

Support level: 106.95, 106.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the higher level. Due to lack of signal from MACD, it is suggested to wait for further confirmation before entering into the market.<\/p>\n

 <\/p>\n

Resistance level: 0.7115, 0.7295<\/p>\n

Support level: 0.6810, 0.6500<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6580. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6480.<\/p>\n

 <\/p>\n

Resistance level: 0.6580, 0.6755<\/p>\n

Support level: 0.6480, 0.6380<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3500. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1.3675.<\/p>\n

 <\/p>\n

Resistance level: 1.3675, 1.3865<\/p>\n

Support level: 1.3500, 1.3355<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9380. MACD which illustrate bullish bias momentum with the formation of bullish divergence signal suggest the pair to extend its gains toward the resistance level at 0.9430.<\/p>\n

 <\/p>\n

Resistance level: 0.9430, 0.9475<\/p>\n

Support level: 0.9380, 0.9320<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 39.15. MACD which illustrate bearish bias momentum suggest the commodity to extend its losses after it successfully breakout below the support level at 39.15.<\/p>\n

 <\/p>\n

Resistance level: 40.10, 41.35<\/p>\n

Support level: 39.15, 37.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower while currently testing the support level at 1800.00. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1813.90, 1823.80<\/p>\n

Support level: 1800.00, 1786.25<\/p>\n","protected":false},"excerpt":{"rendered":"

10 July 2020\u00a0\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   Greenback remain buoyed by coronavirus. During late Asian session, the dollar index which traded against a basket of six major currency pairs continue to offer bid after the ongoing surge in new coronavirus cases continue to undermined the prospect of recovery. Recently, more than 60,000 new COVID-18 infections […]<\/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\/130598"}],"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=130598"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/130598\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=130598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=130598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=130598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}