{"id":142705,"date":"2020-10-01T06:43:35","date_gmt":"2020-10-01T06:43:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=142705"},"modified":"2020-10-01T06:43:35","modified_gmt":"2020-10-01T06:43:35","slug":"011020-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/011020-afternoon-session-analysis\/","title":{"rendered":"011020 Afternoon Session Analysis"},"content":{"rendered":"

01 October 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\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Japanese Yen remains stable following mixed sentiment.<\/strong><\/span><\/p>\n

During late Asian session, the Japanese Yen which traded against the greenback and other currency pair remains steady and rose following mixed clues due to Japan data and risk-off mood. On data front, Japan\u2019s Tankan Manufacturing Index have dropped to -27 in the last quarter, weaker than market expectation of -23. At the same time, Tankan Non Large Non-Manufacturing Index also fell to -12, missing market expectation of -9. The weaker-than-expected data have exert some pressure for the safe-haven Yen, however, ongoing risk off mood due to coronavirus and various geopolitical issues have help limit the downside potential. As the coronavirus risk continue to terrorize global market, the uncertainty towards vaccine progress have caused investors to remain cautious and decreasing their risk appetite. At home, Nikkei also came out with the news suggesting that the Japan government is ready for further stimulus if required. At the time of writing, USD\/JPY slips 0.06% to 105.49.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price soars 0.88% to $40.16 per barrel as of writing following stimulus hopes that could help support the market. The sentiment for the black commodity was lifted after U.S. Treasury Secretary Steven Mnuchin said talks with House Speaker Nancy Pelosi made progress on COVID-19 relief legislation. At the same time, market continue to cheer on positive reports from EIA where it reported a decrease in stockpiles. On the other hand, gold price edge lower 0.08% to $1889.33 a troy ounce at the time of writing following volatility induced by the strong 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

18:00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EU Leaders Summit<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
15:55<\/td>\nEUR – German Manufacturing PMI (Sep)<\/td>\n56.6<\/td>\n56.6<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Manufacturing PMI (Sep)<\/td>\n54.3<\/td>\n54.3<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n870K<\/td>\n850K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Manufacturing PMI (Sep)<\/td>\n56.0<\/td>\n56.2<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level 93.90. MACD which illustrate ongoing bearish momentum suggest the dollar to extend its losses towards the support level 92.05.<\/p>\n

 <\/p>\n

Resistance level: 93.90, 95.70<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following recent rebound from the MA lines. 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, 1.3260<\/p>\n

Support level: 1.2775, 1.2510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level 1.1720. MACD which illustrate bullish bias signal suggest the pair to extend its rebound towards the resistance level 1.1890.<\/p>\n

 <\/p>\n

Resistance level: 1.1890, 1.1995<\/p>\n

Support level: 1.1720, 1.1595<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from its high level. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 105.15.<\/p>\n

 <\/p>\n

Resistance level: 105.90, 106.45<\/p>\n

Support level: 105.15, 104.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance level 0.7200. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 0.7200.<\/p>\n

 <\/p>\n

Resistance level: 0.7200, 0.7340<\/p>\n

Support level: 0.7105, 0.6970<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level 0.6595. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.6685.<\/p>\n

 <\/p>\n

Resistance level: 0.6685, 0.6775<\/p>\n

Support level: 0.6595, 0.6510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level 1.3330. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 1.3230.<\/p>\n

 <\/p>\n

Resistance level: 1.3330, 1.3455<\/p>\n

Support level: 1.3230, 1.3115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level 0.9205. 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: 0.9370, 0.9455<\/p>\n

Support level: 0.9205, 0.9035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remain traded in a sideway channel following recent rebound from the support level 39.00. However, MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its rebound in short term towards the resistance level 41.35.<\/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 was traded higher while currently testing near the resistance level 1902.20. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower as a technical correction towards the support level 1854.20.<\/p>\n

 <\/p>\n

Resistance level: 1902.20, 1970.55<\/p>\n

Support level: 1854.20, 1790.05<\/p>\n","protected":false},"excerpt":{"rendered":"

01 October 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\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Japanese Yen remains stable following mixed sentiment. During late Asian session, the Japanese Yen which traded against the greenback and other currency pair remains steady and rose following mixed clues due to Japan data and risk-off mood. On data front, Japan\u2019s Tankan Manufacturing Index have dropped to -27 […]<\/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\/142705"}],"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=142705"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/142705\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=142705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=142705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=142705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}