{"id":135941,"date":"2020-08-14T03:51:00","date_gmt":"2020-08-14T03:51:00","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=135941"},"modified":"2020-08-14T03:51:00","modified_gmt":"2020-08-14T03:51:00","slug":"140820-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140820-afternoon-session-analysis\/","title":{"rendered":"140820 Afternoon Session Analysis"},"content":{"rendered":"

14 August 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Pound retreated as Brexit talk stalemate remains.<\/strong><\/span><\/p>\n

Pound sterling which act as one of the major currency failed to extend its gains and retraced from recent high level amid ongoing impasses in Post-Brexit negotiation between EU and UK. According to the latest talks, both parties refused to make a \u2018step back\u2019 in the trade talk while insisting on their own view with regard to the issue of fisheries and regulatory alignment. As of now, majority of EU countries are largely dependent on UK waters to boost their fishing sector. However, UK warned that they will take back the full control of their waters and expel vessel from other country after UK officially leave EU on 31th<\/sup> December. Despite, UK Chief Brexit Negotiator revealed that the next round of trade talk between UK and EU will kick off on 18th<\/sup> August, expecting UK would iron out measures to resolve the sticking issue such as fisheries and regulatory system. However, market participants are pessimistic toward the trade talk while downplaying the prospect of making deal until the major issue been resolved. As of writing, the pair of GBP\/USD dropped by 0.04% to 1.3058.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciated by 0.21% to $42.35 per barrel amid growing market confidences toward the recovery of oil demand in near term despite Covid-19 is still haunting the global economy outlook. Besides, gold price depreciated by 0.07% to $1952.25 a troy ounce as latest development in vaccine limits the market risk sentiment.<\/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
20:30<\/td>\nUSD \u2013 Core Retail Sales (MoM) (Jul)<\/td>\n7.3%<\/td>\n1.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Retail Sales (MoM) (Jul)<\/td>\n7.5%<\/td>\n1.9%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Weekly: <\/strong>Dollar index was traded lower while currently testing the support level at 93.25. MACD which illustrated increasing bearish momentum suggest the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 95.55, 97.65<\/p>\n

Support level: 93.25, 91.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3075. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3010.<\/p>\n

 <\/p>\n

Resistance level: 1.3075, 1.3125<\/p>\n

Support level: 1.3010, 1.2925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1790. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1900, 1.1995<\/p>\n

Support level: 1.1790, 1.1710<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 106.40. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 107.35, 108.40<\/p>\n

Support level: 106.40, 105.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently near the support level at 0.7105. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7105.<\/p>\n

 <\/p>\n

Resistance level: 0.7230, 0.7330<\/p>\n

Support level: 0.7105, 0.7015<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6530. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6565, 0.6625<\/p>\n

Support level: 0.6530, 0.6465<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3215. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3315, 1.3405<\/p>\n

Support level: 1.3215, 1.3110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently near the support level at 0.9060. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9195, 0.9330<\/p>\n

Support level: 0.9060, 0.8860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 42.00. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 43.05, 44.55<\/p>\n

Support level: 42.00, 40.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1965.50. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1937.20.<\/p>\n

 <\/p>\n

Resistance level: 1965.50, 1987.35<\/p>\n

Support level: 1937.20, 1906.85<\/p>\n","protected":false},"excerpt":{"rendered":"

14 August 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Pound retreated as Brexit talk stalemate remains. Pound sterling which act as one of the major currency failed to extend its gains and retraced from recent high level amid ongoing impasses in Post-Brexit negotiation between EU and UK. According to the latest talks, both parties refused to make 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\/135941"}],"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=135941"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/135941\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=135941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=135941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=135941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}