{"id":144000,"date":"2020-10-13T05:50:14","date_gmt":"2020-10-13T05:50:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=144000"},"modified":"2020-10-13T05:50:14","modified_gmt":"2020-10-13T05:50:14","slug":"131020-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131020-afternoon-session-analysis\/","title":{"rendered":"131020 Afternoon Session Analysis"},"content":{"rendered":"

13 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

Dollar remains low on stimulus hopes.<\/strong><\/span><\/p>\n

During late Asian session, the dollar index which traded against a basket of six major currency pairs continue to flirt at three-week lows following investors continue to cling on U.S stimulus hopes after Nov 3 election. With upcoming election is getting near, a widening lead by the Democratic presidential candidate Joe Biden over President Donald Trump have led to investors expecting a big U.S fiscal stimulus. At the same time, Biden\u2019s victory will also meant more negativity towards the greenback as his pledge to increase corporate tax will reduce returns from investment from U.S. Following with the strong optimism, the dollar index was dragged further down. At the time of writing, dollar index edge lower 0.08% to 93.08.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slips 0.15% to $39.75 per barrel as of writing following ongoing increase of COVID-19 cases and energy companies resumed operation. Following the increasing cases of COVID-19 which now exceed 38 million globally, the demand recovery outlook turned dim and exert pressure for the black commodity. At the same time, selling pressure was also further added U.S energy companies resumed their production after Hurricane Delta. On the other hand, gold price plunged 0.52% to $1912.99 a troy ounce at the time of writing amid dollar strength.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Average Earnings Index +Bonus (Aug)<\/td>\n-1.0%<\/td>\n-0.6%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Claimant Count Change (Sep)<\/td>\n73.7K<\/td>\n80.0K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR – German ZEW Economic Sentiment (Oct)<\/td>\n77.4<\/td>\n74.0<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core CPI (MoM) (Sep)<\/td>\n0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 93.50. However, MACD which illustrate diminishing bearish momentum signal suggest the dollar to undergo technical correction in short term toward a higher level.<\/p>\n

 <\/p>\n

Resistance level: 93.50, 94.10<\/p>\n

Support level: 92.70, 92.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement near the resistance level at 1.3065. MACD which illustrates diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.3000.<\/p>\n

 <\/p>\n

Resistance level: 1.3065, 1.3165<\/p>\n

Support level: 1.3000, 1.2945<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1790. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 1.1790.<\/p>\n

 <\/p>\n

Resistance level: 1.1950, 1.2065<\/p>\n

Support level: 1.1790, 1.1645<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY 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 higher level.<\/p>\n

 <\/p>\n

Resistance level: 105.75, 106.05<\/p>\n

Support level: 105.15, 104.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7205. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after its candle successfully closed below the support level at 0.7205.<\/p>\n

 <\/p>\n

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

Support level: 0.7205, 0.7140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6655. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 0.6610.<\/p>\n

 <\/p>\n

Resistance level: 0.6655, 0.6725<\/p>\n

Support level: 0.6610, 0.6570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3140. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 1.3025.<\/p>\n

 <\/p>\n

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

Support level: 1.3025, 1.2950<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9120. However, MACD which display diminishing bearish momentum signal suggest the pair to undergo technical correction toward a higher level.<\/p>\n

 <\/p>\n

Resistance level: 0.9120, 0.9180<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 39.85. MACD which illustrate bearish bias momentum signal suggest the commodity to extend its losses toward the support level at 39.30.<\/p>\n

 <\/p>\n

Resistance level: 39.85, 40.40<\/p>\n

Support level: 39.30, 38.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1915.75. MACD which illustrate bearish momentum with the formation of death cross suggest the commodity to extend its losses toward the support level at 1899.40.<\/p>\n

 <\/p>\n

Resistance level: 1915.75, 1939.60<\/p>\n

Support level: 1899.40, 1876.85<\/p>\n","protected":false},"excerpt":{"rendered":"

13 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   Dollar remains low on stimulus hopes. During late Asian session, the dollar index which traded against a basket of six major currency pairs continue to flirt at three-week lows following investors continue to cling on U.S stimulus hopes after Nov 3 election. With upcoming election is getting near, […]<\/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\/144000"}],"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=144000"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/144000\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=144000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=144000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=144000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}