{"id":137348,"date":"2020-08-25T03:54:01","date_gmt":"2020-08-25T03:54:01","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=137348"},"modified":"2020-08-25T03:54:01","modified_gmt":"2020-08-25T03:54:01","slug":"250820-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250820-afternoon-session-analysis\/","title":{"rendered":"250820 Afternoon Session Analysis"},"content":{"rendered":"

25 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

 <\/p>\n

Aussie climbs following easing US-China tensions.<\/strong><\/span><\/p>\n

The Aussie dollar which traded against the dollar and other currency pairs have regain its momentum and rose during late Asian session following positive progress on phase on China trade deal. US trade representative Robert Lighthizer and treasury secretary Robert Mnuchin have participated in a scheduled call with China\u2019s Premier Liu to discuss about the implementation of phase on trade deal which have been reached earlier this year. According to the official statement, both parties have witness ongoing progress and are committed to taking the necessary steps to ensure the success of the agreement. Following the positive trade news, risk sentiment have been bolstered, thus also pushing the Aussie higher. At the time of writing, AUD\/USD rose 0.19% to 0.7172.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remains stable and edge higher 0.60% to $42.55 per barrel as of writing following output reduction which driven by storm continue to weigh on the sentiment. Due to Storm Marco and Laura, producers have shut more than 1.5 million barrel of offshore oil production which currently help supporting the price of commodity. On the other hand, gold price slips 0.05% to $1934.42 a troy ounce at the time of writing following heightening risk appetite in the market which attract buyers to shift their portfolio to riskier 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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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>\nEUR – German GDP (QoQ) (Q2)<\/td>\n-2.2%<\/td>\n-10.1%<\/td>\n–<\/td>\n<\/tr>\n
16:00<\/td>\nEUR – German Ifo Business Climate Index (Aug)<\/td>\n90.5<\/td>\n92.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – CB Consumer Confidence (Aug)<\/td>\n92.6<\/td>\n93.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – New Home Sales (Jul)<\/td>\n776K<\/td>\n786K<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(26th<\/sup>)<\/td>\n

CrudeOIL – API Weekly Crude Oil Stock<\/td>\n-4.264M<\/td>\n–<\/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 retracement from the resistance level at 93.25. MACD which illustrate diminishing bullish momentum signal suggest the dollar to extend its losses toward the support level at 92.60.<\/p>\n

 <\/p>\n

Resistance level: 93.25, 94.10<\/p>\n

Support level: 92.60, 92.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3045. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound toward the resistance level at 1.3140.<\/p>\n

 <\/p>\n

Resistance level: 1.3140, 1.3255<\/p>\n

Support level: 1.3045, 1.2985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1770. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.1840.<\/p>\n

 <\/p>\n

Resistance level: 1.1840, 1.1900<\/p>\n

Support level: 1.1770, 1.1705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the lower level. MACD which display bullish bias momentum suggest the pair to extend its gains toward the resistance level at 106.15.<\/p>\n

 <\/p>\n

Resistance level: 106.15, 106.95<\/p>\n

Support level: 105.05, 104.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the upward trend line. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 0.7180.<\/p>\n

 <\/p>\n

Resistance level: 0.7180, 0.7205<\/p>\n

Support level: 0.7145, 0.7110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6535. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to undergo technical correction toward higher level.<\/p>\n

 <\/p>\n

Resistance level: 0.6535, 0.6615<\/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 1.3150. MACD which illustrates diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.3315.<\/p>\n

 <\/p>\n

Resistance level: 1.3315, 1.3500<\/p>\n

Support level: 1.3150, 1.3025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the top level of downward channel. Due to lack of signal from the MACD, it is suggested to wait for further confirmation before entering into the market.<\/p>\n

 <\/p>\n

Resistance level: 0.9120, 0.9200<\/p>\n

Support level: 0.9050, 0.8975<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 42.75.<\/p>\n

 <\/p>\n

Resistance level: 42.75, 43.40<\/p>\n

Support level: 42.05, 41.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower while currently testing the support level at 1905.85. However, MACD which illustrate diminishing bearish momentum signal suggest the commodity to undergo technical correction toward the resistance level at 2069.75.<\/p>\n

 <\/p>\n

Resistance level: 2069.75, 2147.50<\/p>\n

Support level: 1905.85, 1761.65<\/p>\n","protected":false},"excerpt":{"rendered":"

25 August 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Aussie climbs following easing US-China tensions. The Aussie dollar which traded against the dollar and other currency pairs have regain its momentum and rose during late Asian session following positive progress on phase on China trade deal. US trade representative Robert Lighthizer and treasury secretary Robert Mnuchin have […]<\/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\/137348"}],"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=137348"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/137348\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=137348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=137348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=137348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}