{"id":146087,"date":"2020-11-03T03:48:48","date_gmt":"2020-11-03T03:48:48","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=146087"},"modified":"2020-11-03T03:48:48","modified_gmt":"2020-11-03T03:48:48","slug":"031120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/031120-afternoon-session-analysis\/","title":{"rendered":"031120 Afternoon Session Analysis"},"content":{"rendered":"

03 November 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

Dollar seesawed ahead of US Election.<\/strong><\/span><\/p>\n

Dollar index which gauges its value against a basket of six major currencies was having mixed pattern while lingering near the highest level in a month as market participants remain cautious ahead of US Presidential Election. According to the latest poll of election, It is still consistently showing that the challenger from Democrats \u2013 Joe Biden leading ahead of President Trump. As Joe Biden are tilted toward a larger stimulus plan, hence it is noteworthy that a stimulus aid might be the first priority of Democrats after he won the election, which could exert huge sell-off pressure on dollar market. Nonetheless, market participants are on edge over the development of US election as well as the final result of the election in order to gauge the further direction of dollar index. Moreover, resurgence of pandemic around the world have urged the investor to scooping up the dollar as renewed lockdown in part of Europe lifted up the market fears. Last week, France, Germany and Belgium have announced control movement in their countries respectively which last for a month, but slightly lighter than the lockdown measure during spring. During Asian trading session, dollar index inched down 0.16% to 94.00.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciated by 0.05% to $36.60 per barrel as of writing as Libya\u2019s oil output risen to 800,000 barrel per day after Libya National Army agreed to ceasefire, increasing the investor\u2019s worries over the unbalance of oil market. Prior to now, oil production in Libya was slumped to less than 100,000 bpd before lifting the blockade. Besides, gold price ticked up 0.50% $1895.00 a troy ounce amid uncertainty over US Presidential Election.<\/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

21.00\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 U.S Presidential Election<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 94.10. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 93.75.<\/p>\n

 <\/p>\n

Resistance level: 94.10, 94.55<\/p>\n

Support level: 93.75, 93.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2880. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2955.<\/p>\n

 <\/p>\n

Resistance level: 1.2955, 1.3010<\/p>\n

Support level: 1.2880, 1.2815<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1610. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1705, 1.1825<\/p>\n

Support level: 1.1615, 1.1495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 104.50. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 105.05, 105.40<\/p>\n

Support level: 104.50, 104.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7040. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7075, 0.7110<\/p>\n

Support level: 0.7035, 0.6990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6620. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6655.<\/p>\n

 <\/p>\n

Resistance level: 0.6655, 0.6690<\/p>\n

Support level: 0.6620, 0.6580<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3205. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3255, 1.3315<\/p>\n

Support level: 1.3205, 1.3155<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9200. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9150.<\/p>\n

 <\/p>\n

Resistance level: 0.9200, 0.9245<\/p>\n

Support level: 0.9150, 0.9090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 36.95. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 36.95, 38.20<\/p>\n

Support level: 35.65, 34.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior rebound from the support level at 1857.50. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1925.00.<\/p>\n

 <\/p>\n

Resistance level: 1925.00, 1972.35<\/p>\n

Support level: 1857.50, 1791.45<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

03 November 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 Dollar seesawed ahead of US Election. Dollar index which gauges its value against a basket of six major currencies was having mixed pattern while lingering near the highest level in a month as market participants remain cautious ahead of US Presidential Election. According to the latest poll of election, […]<\/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\/146087"}],"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=146087"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/146087\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=146087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=146087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=146087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}