{"id":144141,"date":"2020-10-14T05:48:50","date_gmt":"2020-10-14T05:48:50","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=144141"},"modified":"2020-10-14T05:48:50","modified_gmt":"2020-10-14T05:48:50","slug":"141020-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/141020-afternoon-session-analysis\/","title":{"rendered":"141020 Afternoon Session Analysis"},"content":{"rendered":"

14 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 surged over the risk-off sentiment.<\/strong><\/span><\/p>\n

The Dollar Index which gauges its value against a basket of six major currencies surged amid dimming hopes for the COVID-19 vaccine following the Johnson & Johnson had temporarily halted its Covid-19 vaccine trial, which diminishing risk appetite in the FX market while prompting investors to shift their portfolio toward the safe-haven Dollar. Besides that, the impasses in between the both U.S. Republicans and Democrats party with regards of latest U.S. economic stimulus had also weighed on the market sentiment, which spurring further demand for the safe-haven Dollar. According to CNBC, the House Speaker Nancy Pelosi had rejected the Trump\u2019s $1.8 trillion coronavirus relief offer on yesterday. In fact, she reiterated that the proposal from the Trump\u2019s administration lacked a \u201cstrategic plan to combat the virus\u201d. Since the market participants expected that the aggressive economic stimulus plan would be sapping the value for the US Dollar with the higher inflation risk in future, diminishing hopes for the latest economic stimulus plan had insinuated the market demand on the US Dollar. Nonetheless, significant uncertainty still remained in the global financial market, hence investors would need to continue the scrutinize the latest updates with regards of the latest economic stimulus plan, COVID-19 vaccine development and also U.S. Presidential election in order to receive further trading signal. As of writing, the Dollar Index surged 0.02% to 93.45.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.15% to $40.35 per barrel as of writing amid spiking numbers of coronavirus and also dimming hopes for the COVID-19 vaccine had provided negative prospect for the oil demand in future. On the other hand, the gold price appreciated by 0.30% to $1896.70 per troy ounces as of writing amid diminishing risk appetite in the FX market.<\/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

16.00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

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
20.30<\/td>\nUSD \u2013 PPI (MoM)(Sep)<\/td>\n0.3%<\/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 higher while currently testing the resistance level at 93.50. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its gains after it successfully breakout above the resistance 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 breakout below the previous support level at 1.2945. MACD which illustrates bearish bias momentum suggest the pair to extend its losses toward the support level at 1.2865.<\/p>\n

 <\/p>\n

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

Support level: 1.2865, 1.2785<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.1790. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.1645.<\/p>\n

 <\/p>\n

Resistance level: 1.1790, 1.1950<\/p>\n

Support level: 1.1645, 1.1455<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the higher level. Due to lack of signal from MACD, it is suggested to wait for further confirmation before entering into the market.<\/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 higher following prior rebound from the support level at 0.7140. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 0.7205.<\/p>\n

 <\/p>\n

Resistance level: 0.7205, 0.7265<\/p>\n

Support level: 0.7140, 0.7080<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6655. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.6655.<\/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, H4: <\/strong>USDCAD was traded lower while currently testing the resistance level at 1.3140. MACD which illustrate diminishing bullish momentum signal suggest the pair to undergo technical correction in short term toward the lower level.<\/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 higher following prior breakout above the previous resistance level at 0.9120. MACD which display bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 0.9180.<\/p>\n

 <\/p>\n

Resistance level: 0.9180, 0.9225<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 40.40. MACD which illustrate bearish signal suggest the commodity to extend its losses toward the support level at 39.85.<\/p>\n

 <\/p>\n

Resistance level: 40.40, 40.90<\/p>\n

Support level:39.85, 39.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 1899.40.<\/p>\n

 <\/p>\n

Resistance level: 1899.40, 1915.75<\/p>\n

Support level: 1876.85, 1850.85<\/p>\n","protected":false},"excerpt":{"rendered":"

14 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 surged over the risk-off sentiment. The Dollar Index which gauges its value against a basket of six major currencies surged amid dimming hopes for the COVID-19 vaccine following the Johnson & Johnson had temporarily halted its Covid-19 vaccine trial, which diminishing risk appetite in the FX market […]<\/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\/144141"}],"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=144141"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/144141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=144141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=144141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=144141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}