{"id":143104,"date":"2020-10-05T06:39:30","date_gmt":"2020-10-05T06:39:30","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=143104"},"modified":"2020-10-05T06:39:30","modified_gmt":"2020-10-05T06:39:30","slug":"051020-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/051020-afternoon-session-analysis\/","title":{"rendered":"051020 Afternoon Session Analysis"},"content":{"rendered":"

05 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

Aussie rebounds amid risk-on mood.<\/strong><\/span><\/p>\n

During late Asian session, the Aussie dollar which traded against the greenback and other currency pairs have jumped as Trump\u2019s recovery news combined with optimism over US stimulus deal lifted overall market sentiment. Just weeks before the election, Donald Trump was diagnosed with COVID-19 and flown to hospital for treatment for the coronavirus. However, Donald Trump posted to Twitter on Sunday evening stated that he was \u201cstarting to feel good\u201d and expected to return to work shortly. Following the recovery news, market sentiment was mostly lifted. On top of that, President Donald Trump also stated that the U.S \u2018wants and needs\u2019 another stimulus which help further boost market mood. At the time of writing, dollar index rose 0.35% to 0.7186.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price gains 1.85% to $37.69 per barrel as of writing following news of expanding strike by Norwegian workers. According to reports, Norwegian oil workers have expanded their ongoing strike which could reduce production capacity by 8%. On the other hand, gold price remains steady and edge higher 0.09% to $1899.48 a troy ounce at the time of writing following weak 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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Composite PMI (Sep)<\/td>\n55.7<\/td>\n55.6<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Sep)<\/td>\n55.1<\/td>\n55.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Sep)<\/td>\n56.9<\/td>\n56.3<\/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 while currently testing the support level 93.65. However, MACD which illustrate diminishing bullish momentum signal suggest the dollar to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 96.65, 95.70<\/p>\n

Support level: 93.65, 92.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remain traded in a sideway channel. Due to lack of momentum and clear direction from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 1.3005, 1.3260<\/p>\n

Support level: 1.27775, 1.2510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat while currently testing near the resistance level 1.1750. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1750, 1.1890<\/p>\n

Support level: 1.1595, 1.1455<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel following recent rebound from the support level 105.15. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound in short term towards the resistance level 105.90.<\/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 diminishing bearish 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 rebound from the MA lines. MACD which illustrate bullish bias 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 retracement from the resistance level 1.3330. MACD which illustrate ongoing bearish bias signal suggest the pair to extend its retracement 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 following prior retracement from the resistance level 0.9200. MACD which display bearish bias signal suggest the pair to extend its retracement towards the support level 0.9035.<\/p>\n

 <\/p>\n

Resistance level: 0.9200, 0.9370<\/p>\n

Support level: 0.9035, 0.8880<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 36.55. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its rebound towards the resistance level 39.00.<\/p>\n

 <\/p>\n

Resistance level: 39.00, 41.35<\/p>\n

Support level: 36.55, 34.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level 1903.75. MACD which illustrate bearish bias signal with the formation of death cross suggest the commodity to extend its retracement towards the support level 1854.20.<\/p>\n

 <\/p>\n

Resistance level: 1903.75, 1970.55<\/p>\n

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

05 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   Aussie rebounds amid risk-on mood. During late Asian session, the Aussie dollar which traded against the greenback and other currency pairs have jumped as Trump\u2019s recovery news combined with optimism over US stimulus deal lifted overall market sentiment. Just weeks before the election, Donald Trump was diagnosed with […]<\/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\/143104"}],"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=143104"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/143104\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=143104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=143104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=143104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}