{"id":133033,"date":"2020-07-27T06:13:11","date_gmt":"2020-07-27T06:13:11","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=133033"},"modified":"2020-07-27T06:13:11","modified_gmt":"2020-07-27T06:13:11","slug":"270720-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/270720-afternoon-session-analysis\/","title":{"rendered":"270720 Afternoon Session Analysis"},"content":{"rendered":"

27 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

Japanese Yen extend rally following heightening risk aversion.<\/strong><\/span><\/p>\n

During late Asian session, the safe-haven Japanese Yen continue to extend its gains relentlessly against the greenback and other currency pairs as tension between U.S and China and increasing coronavirus cases continue to dampened risk sentiment. The U.S. recorded a near record 74,000 new cases of COVID-19 on Friday according to Johns Hopkins University data. More than 1,000 Americans died each day between Tuesday and Friday, the worst death tally since late May. The numbers may lead to further closures and lockdowns. Also, recent escalation of tension between U.S and China also provide reason for investors to increase their bets on the safe-haven Yen where U.S. and China have both ordered the\u202fother shut a consulate in their respective countries, the China\u2019s Houston consulate and the U.S. consulate in Chengdu. U.S. Secretary of State Mike Pompeo called for an end of \u201cengagement,\u201d a policy that has defined U.S.-China relations for nearly five decades. At the time of writing, USD\/JPY plummets 0.58% to 105.51.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price fell 0.05% to $41.17 per barrel as of writing following increasing tensions between the two of the largest oil consumers in the world. Fears of a full blown diplomatic conflict over the next few months have dampened the expectation of a sharp increase in fuel demand, thus affecting the value of the commodity. At the same time, worsening coronavirus outlook also weigh on the market. On the other hand, gold price soars 1.77% to $1934.35 a troy ounce at the time of writing amid ongoing 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

N\/A<\/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
16:00<\/td>\nEUR \u2013 German Ifo Business Climate Index (Jul)<\/td>\n86.2<\/td>\n89.3<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM)(Jun)<\/td>\n3.7%<\/td>\n3.5%<\/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 lower following prior breakout below the previous support level 94.35. MACD which illustrate ongoing bearish momentum signal suggest the dollar to extend its losses towards the support level 93.15.<\/p>\n

 <\/p>\n

Resistance level: 94.35, 95.70<\/p>\n

Support level: 93.15, 92.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level 1.2810. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 1.3005.<\/p>\n

 <\/p>\n

Resistance level: 1.3005, 1.3200<\/p>\n

Support level: 1.2810, 1.2660<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level 1.1715. MACD which illustrate bullish bias signal suggest the pair to extend its gains after it breaks above the resistance level 1.1715.<\/p>\n

 <\/p>\n

Resistance level: 1.1715, 1.1810<\/p>\n

Support level: 1.1610, 1.1505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level 105.40. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

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

Support level: 105.40, 104.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level 0.7160. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7160, 0.7290<\/p>\n

Support level: 0.7030, 0.6935<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level 0.6670. MACD which illustrate diminishing bearish momentum signal with starting formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6670, 0.6745<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the support level 1.3330. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3485, 1.3685<\/p>\n

Support level: 1.3330, 1.3195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level 0.9165. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9230, 0.9315<\/p>\n

Support level: 0.9165, 0.9075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded flat near the current support level 41.00. However, MACD which illustrate diminishing bearish momentum signal suggest the commodity to be traded higher in short term towards the resistance level 42.45.<\/p>\n

 <\/p>\n

Resistance level: 42.45, 43.85<\/p>\n

Support level: 41.00, 39.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following recent breakout above the previous resistance level 1899.05. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains towards the resistance level 1950.25.<\/p>\n

 <\/p>\n

Resistance level: 1950.25, 1989.75<\/p>\n

Support level: 1899.05, 1857.95<\/p>\n","protected":false},"excerpt":{"rendered":"

27 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   Japanese Yen extend rally following heightening risk aversion. During late Asian session, the safe-haven Japanese Yen continue to extend its gains relentlessly against the greenback and other currency pairs as tension between U.S and China and increasing coronavirus cases continue to dampened risk sentiment. The U.S. recorded a […]<\/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\/133033"}],"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=133033"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/133033\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=133033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=133033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=133033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}