{"id":147939,"date":"2020-11-20T08:59:37","date_gmt":"2020-11-20T08:59:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=147939"},"modified":"2020-11-20T09:01:37","modified_gmt":"2020-11-20T09:01:37","slug":"201120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/201120-afternoon-session-analysis\/","title":{"rendered":"201120 Afternoon Session Analysis"},"content":{"rendered":"

20 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\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie rose on upbeat retail sales.<\/strong><\/span><\/p>\n

The Australian dollar which traded against the dollar and other currency pairs have managed to erase earlier losses and rose during late Asian after the release of Australia\u2019s retail sales data. According to the Australian Bureau of Statistics, retail sales that represent consumer spending have increased to 1.6% in October, surpassed market expectation of 0.3%. On the other, earlier interest decision from China\u2019s central bank also help boosted the confidence. The People’s Bank of China (PBOC) continue to maintain its rates unchanged at 3.85%, showing signs of confidence in its economic recovery. As China is the largest trading partner to Australia, the data also help Aussie to pick up some bid. At the time of writing, AUD\/USD edge higher 0.04% to $0.7278.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price was traded flat and fell 0.09% to $41.85 per barrel as of writing following surging coronavirus cases starting to dampen market optimism. Despite with positive vaccine development, longer-term hopes for a COVID vaccine have been replaced by the weak short-term fundamentals and oil market prospects such as renewed lockdowns in EU countries and worsening condition in U.S and could affect oil demand. On the other hand, gold price remains weak and slips 0.12% to $1863.80 a troy ounce at the time of writing following dollar rebound.<\/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

16:15\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 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

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

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 92.35. MACD which illustrate diminishing bullish momentum signal suggest the dollar to extend its losses toward the support level at 92.10.<\/p>\n

 <\/p>\n

Resistance level: 92.35, 92.55<\/p>\n

Support level: 92.10, 91.75<\/p>\n

 <\/p>\n

 <\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3225. MACD which illustrates diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.3300.<\/p>\n

 <\/p>\n

Resistance level: 1.3300, 1.3350<\/p>\n

Support level: 1.3225, 1.3145<\/p>\n

 <\/p>\n

 <\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1845. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.1895.<\/p>\n

 <\/p>\n

Resistance level: 1.1895, 1.1960<\/p>\n

Support level: 1.1840, 1.1795<\/p>\n

 <\/p>\n

 <\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 103.90. MACD which illustrate bearish signal suggest the pair to extend its losses toward the support level at 103.65.<\/p>\n

 <\/p>\n

Resistance level: 103.90, 104.20<\/p>\n

Support level: 103.65, 103.20<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7265. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.7330.<\/p>\n

 <\/p>\n

Resistance level: 0.7330, 0.7405<\/p>\n

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

 <\/p>\n

 <\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6905. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 0.6935.<\/p>\n

 <\/p>\n

Resistance level: 0.6935, 0.6955<\/p>\n

Support level: 0.6905, 0.6865<\/p>\n

 <\/p>\n

 <\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3095. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 1.3035.<\/p>\n

 <\/p>\n

Resistance level: 1.3095, 1.3170<\/p>\n

Support level: 1.3035, 1.2960<\/p>\n

 <\/p>\n

 <\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9100. MACD which display diminishing bullish momentum signal suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9135, 0.9175<\/p>\n

Support level: 0.9100, 0.9075<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from upward trend line. MACD which illustrate bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 42.15.<\/p>\n

 <\/p>\n

Resistance level: 42.15, 43.00<\/p>\n

Support level: 40.80, 40.05.<\/p>\n

 <\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1869.45. MACD which illustrate diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 1858.00.<\/p>\n

 <\/p>\n

Resistance level: 1869.45, 1883.90<\/p>\n

Support level: 1858.00, 1851.15<\/p>\n","protected":false},"excerpt":{"rendered":"

20 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\u00a0 Afternoon Session Analysis   Aussie rose on upbeat retail sales. The Australian dollar which traded against the dollar and other currency pairs have managed to erase earlier losses and rose during late Asian after the release of Australia\u2019s retail sales data. According to the Australian Bureau of Statistics, retail sales that represent […]<\/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\/147939"}],"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=147939"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/147939\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=147939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=147939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=147939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}