{"id":131051,"date":"2020-07-14T04:06:54","date_gmt":"2020-07-14T04:06:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=131051"},"modified":"2020-07-14T04:06:54","modified_gmt":"2020-07-14T04:06:54","slug":"140720-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140720-afternoon-session-analysis\/","title":{"rendered":"140720 Afternoon Session Analysis"},"content":{"rendered":"

14 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 rose as virus continue to dominate.<\/strong><\/span><\/p>\n

The dollar index which traded against a basket of six major currency pairs have appreciated during late Asian session following market continue to shift towards safe-haven assets after COVID-19 continue to climbs. According to Johns Hopkins University, the number of COVID-19 cases have globally passed 13 million as of today. Following the surge of new cases, hopes of quick economic recovery have been diminished with some of the countries re-imposed lockdown measures to contain the spread of the virus, thus continue to provide boost for the greenback. On top of that, the ongoing tension between U.S and China over trade and Hong Kong\u2019s national security laws also added further into the momentum. U.S. Secretary of State Michael Pompeo have recently issued a statement rejecting Chinese claims in the South China Sea while China hit back and rejecting the U.S. statement, calling Pompeo\u2019s accusations of China bullying its neighbours \u201ccompletely unjustified\u201d. At the time of writing, dollar index rose 0.10% to 96.48.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price extend its retreat and fell 0.71% to $39.36 per barrel as of writing following plan of increase output next month According to Bloomberg, OPEC+ and Russia may consider raising their outputs by 2 million barrel per day. In the other hand, gold price retreats 0.24% to $1797.89 a troy ounce at the time of writing amid profit taking and rebound in dollar.<\/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

19:00\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 OPEC Monthly Report<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
14:00<\/td>\nGBP – Claimant Count Change (Jun)<\/td>\n528.9K<\/td>\n400.0K<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – GDP (MoM)<\/td>\n-20.4%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Manufacturing Production (MoM) (May)<\/td>\n-24.3%<\/td>\n8.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core CPI (MoM) (Jun)<\/td>\n-0.1%<\/td>\n0.1%<\/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 was traded higher following prior rebound from the support level at 96.10. MACD which illustrate bullish 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 1.2580. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 1.2525.<\/p>\n

 <\/p>\n

Resistance level: 1.2580, 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 retracement from the resistance level at 1.1360. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.1320.<\/p>\n

 <\/p>\n

Resistance level: 1.1360, 1.1390<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the higher level. MACD which illustrate diminishing bullish 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. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 0.6810.<\/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 bearish momentum signal suggest the pair to extend its losses toward the support level at 0.6380.<\/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 rebound from the support level at 0.9380. MACD which illustrate bullish bias momentum 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 following prior breakout below the previous support level at 40.10. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses toward the support level at 39.00.<\/p>\n

 <\/p>\n

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

Support level: 39.00, 37.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1797.20. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 1797.20.<\/p>\n

 <\/p>\n

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

Support level: 1797.20, 1786.25<\/p>\n","protected":false},"excerpt":{"rendered":"

14 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 rose as virus continue to dominate. The dollar index which traded against a basket of six major currency pairs have appreciated during late Asian session following market continue to shift towards safe-haven assets after COVID-19 continue to climbs. According to Johns Hopkins University, the number of COVID-19 […]<\/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\/131051"}],"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=131051"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/131051\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=131051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=131051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=131051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}