{"id":141783,"date":"2020-09-22T06:10:50","date_gmt":"2020-09-22T06:10:50","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=141783"},"modified":"2020-09-22T06:10:50","modified_gmt":"2020-09-22T06:10:50","slug":"220920-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220920-afternoon-session-analysis\/","title":{"rendered":"220920 Afternoon Session Analysis"},"content":{"rendered":"

22 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

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Aussie slumped over the dovish statement.<\/strong><\/span><\/p>\n

The Australian Dollar slumped following the Reserve Bank Australia unleashed dovish statement with regards of the monetary policy in future. According to the latest monetary statement, the Deputy Governor Guy Debelle claimed in the early morning that the Australia central bank is assessing various monetary policy options including the currency market intervention strategy and extreme expansionary monetary policy in order to achieve its inflation and employment goals. The first option for the central bank\u2019s policy is to buy bonds with maturities beyond three years in order to lower the longer-dated government bond rates. Besides, he also reiterated that foreign exchange intervention was another potential policy option that would definitely be beneficial for the Australia\u2019s economy since it may able to boost up the Australia\u2019s current account value. Nonetheless, they will be continuing to eye on global growth risk, more stimulus such as negative interest rates would be anticipated if the course of events urges their economy growth goes against their expectation. As of writing, AUD\/USD depreciated by 0.15% to 0.7210.<\/p>\n

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In the commodities market, the crude oil price slumped 0.28% to $39.65 per barrels as of writing amid the spiking number of the coronavirus had weighed the market demand on the crude oil commodity on Monday. According to the latest data, the coronavirus cases had surged up more than 30 million worldwide while the British Prime Minister Boris Johnson was pondering a second national lockdown following U.K. registered over 37,000 deaths from nearly 340,000 cases. On the other hand, the gold price slumped 0.15% to $1909.40 per troy ounce as of writing as hopes of aggressive monetary stimulus from the Federal Reserve faded. Nonetheless, investors would continue to scrutinize the latest updates with regards of the speeches from Federal committee members in order to gauge the likelihood movement for the commodity.<\/p>\n

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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

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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

22.30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Testifies<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22.00<\/td>\nUSD \u2013 Existing Home Sales (Aug)<\/td>\n5.86M<\/td>\n6.00M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, <\/strong>Daily: <\/strong>Dollar index was traded higher following prior rebound from the lower level. MACD which illustrated bullish bias momentum suggest the index to extend its gains toward the resistance level at 94.10.<\/p>\n

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Resistance level: 94.10, 94.90<\/p>\n

Support level: 92.10, 91.45<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2780. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.2915.<\/p>\n

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Resistance level: 1.2915, 1.3045<\/p>\n

Support level: 1.2780, 1.2715<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.1775.<\/p>\n

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Resistance level: 1.1775, 1.1840<\/p>\n

Support level: 1.1705, 1.1620<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the support level at 104.30. MACD which illustrates diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 105.20.<\/p>\n

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Resistance level: 105.20, 106.15<\/p>\n

Support level: 104.30, 103.05<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7205. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.7265.<\/p>\n

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Resistance level: 0.7265, 0.7330<\/p>\n

Support level: 0.7205, 0.7150<\/p>\n

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NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6685. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.6615.<\/p>\n

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Resistance level: 0.6685, 0.6780<\/p>\n

Support level: 0.6615, 0.6500<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.3315. MACD which illustrate bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.3315.<\/p>\n

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Resistance level: 1.3315, 1.3425<\/p>\n

Support level: 1.3235, 1.3140<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9120. MACD which illustrates bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.9200.<\/p>\n

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Resistance level: 0.9200, 0.9295<\/p>\n

Support level: 0.9120, 0.9050<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the higher level. MACD which illustrate bearish bias momentum suggest the commodity to extend its losses toward the support level at 39.45.<\/p>\n

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Resistance level: 40.45, 41.50<\/p>\n

Support level: 39.45, 38.70<\/p>\n

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GOLD_, Daily: <\/strong>Gold price was traded lower following prior breakout below the support level at 1926.40. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses toward the support level at 1761.65.<\/p>\n

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Resistance level: 1926.40, 2069.75<\/p>\n

Support level: 1761.65, 1552.90<\/p>\n","protected":false},"excerpt":{"rendered":"

22 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   Aussie slumped over the dovish statement. The Australian Dollar slumped following the Reserve Bank Australia unleashed dovish statement with regards of the monetary policy in future. According to the latest monetary statement, the Deputy Governor Guy Debelle claimed in the early morning that the Australia central bank is […]<\/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\/141783"}],"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=141783"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/141783\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=141783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=141783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=141783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}