{"id":141346,"date":"2020-09-18T06:09:30","date_gmt":"2020-09-18T06:09:30","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=141346"},"modified":"2020-09-18T06:09:30","modified_gmt":"2020-09-18T06:09:30","slug":"180920-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180920-afternoon-session-analysis\/","title":{"rendered":"180920 Afternoon Session Analysis"},"content":{"rendered":"

18 September 2020\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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Yen retreats following CPI data.<\/strong><\/span><\/p>\n

During late Asian session, the safe-haven Yen which traded against the dollar and other currency pairs have retreat from its gains following downbeat Japan CPI. According to the Statistics Bureau of Japan, Japan\u2019s National CPI have fell to 0.2%, lower than market expectation. Following the weak data, the Japanese Yen have since gave up some of its gains. However, due to another recent batch of weak data from the U.S and policy decision from Fed, further losses for the safe-haven Yen may be limited. At Wednesday’s policy meeting, the Fed pledged to keep rates near zero until the labor market reaches “maximum employment” and inflation is on track to “moderately exceed” the 2% target, with most policymakers seeing rates on hold through at least 2023. On data front, U.S. jobless claims remained elevated at 860,000, while both housing starts and the Philadelphia Fed business index fell. At the time of writing, USD\/JPY rose 0.09% to 104.83.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price extend gains and rose 0.06% to $41.21 per barrel as of writing following Saudi Minister warned traders not to gamble against the alliance. Prince Abdulaziz bin Salman who decides on the energy policy of the world\u2019s most influential oil producing country stated that he will make the oil market jumpy and warned to whoever gamble on the oil market will experience pain. On top of that, Prince Salman also sought to assure that all members within the OPEC will make up for production quotas. On the other hand, gold price gains 0.39% a troy ounce to $1951.30 at the time of writing amid weakening 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

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
14:00<\/td>\nGBP \u2013 Retail Sales (Aug)<\/td>\n–<\/td>\n0.7%<\/td>\n3.6%<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core Retail Sales (MoM) (Jul)<\/td>\n–<\/td>\n0.5%<\/td>\n15.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index remain traded in a sideway channel. However, MACD which illustrate bearish momentum suggest the dollar to be traded lower in short term towards the support level 92.05.<\/p>\n

 <\/p>\n

Resistance level: 93.85, 95.70<\/p>\n

Support level: 92.05, 90.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.3005. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a short term technical correction towards the support level 1.2810.<\/p>\n

 <\/p>\n

Resistance level: 1.3005, 1.3165<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level 1.1875. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level 1.1875.<\/p>\n

 <\/p>\n

Resistance level: 1.1875, 1.1965<\/p>\n

Support level: 1.1775, 1.1700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level 104.35.. MACD which illustrate diminishing bearish momentum signal with the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 105.20.<\/p>\n

 <\/p>\n

Resistance level: 105.20, 106.20<\/p>\n

Support level: 104.35, 103.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level 0.7295. MACD which illustrate bullish bias signal with the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.7385.<\/p>\n

 <\/p>\n

Resistance level: 0.7385, 0.7460<\/p>\n

Support level: 0.7295, 0.7200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level 0.6775. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level 0.6775.<\/p>\n

 <\/p>\n

Resistance level: 0.6775, 0.6830<\/p>\n

Support level: 0.6685, 0.6595<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following recent retracement from the resistance level 1.3230. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 1.3115.<\/p>\n

 <\/p>\n

Resistance level: 1.3230, 1.3330<\/p>\n

Support level: 1.3115, 1.2995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level 0.9125. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 0.8985.<\/p>\n

 <\/p>\n

Resistance level: 0.9125, 0.9225<\/p>\n

Support level: 0.8985, 0.8880<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level 41.35. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower as a technical correction towards the support level 39.00.<\/p>\n

 <\/p>\n

Resistance level: 41.35, 43.95<\/p>\n

Support level: 39.00, 36.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remain traded in a sideway channel. However, MACD which illustrate bullish momentum signal suggest the commodity to be traded higher towards the resistance level 1970.55.<\/p>\n

 <\/p>\n

Resistance level: 1970.55, 2016.10<\/p>\n

Support level: 1908.55, 1857.95<\/p>\n","protected":false},"excerpt":{"rendered":"

18 September 2020\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 Afternoon Session Analysis   Yen retreats following CPI data. During late Asian session, the safe-haven Yen which traded against the dollar and other currency pairs have retreat from its gains following downbeat Japan CPI. According to the Statistics Bureau of Japan, Japan\u2019s National CPI have fell to 0.2%, lower than market expectation. […]<\/p>\n","protected":false},"author":54,"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\/141346"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=141346"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/141346\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=141346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=141346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=141346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}