{"id":148297,"date":"2020-11-25T06:30:50","date_gmt":"2020-11-25T06:30:50","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=148297"},"modified":"2020-11-25T06:30:50","modified_gmt":"2020-11-25T06:30:50","slug":"251120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/251120-afternoon-session-analysis\/","title":{"rendered":"251120 Afternoon Session Analysis"},"content":{"rendered":"

25 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

Pound lingered while Brexit talks set to resume Friday.<\/strong><\/span><\/p>\n

Pound sterling which acting as one of the major trading currency in FX market was having mixed pattern while staying above the level at 1.3350 while market participants are still remain cautious toward the upcoming resumed talk on Friday. Last week, UK and EU talk was unable to bring up the major issue onto the table as a member of Barnier\u2019s team had tested positive in Covid-19 swab test, forcing the negotiator from both sides to postpone their talks to this week. Recently, there have been numerous reports indicated that a deal could be secured by EU and UK, which have high possibility to end the threat of Hard-Brexit on 31st<\/sup> December. Therefore, market participants are putting their attention over the further talks between UK and EU in order to determine their investment strategy as a Hard-Brexit may definitely drag down the value of pound whereas Soft-Brexit would benefited the single currency of pound. Yesterday, the Bank of England Governor Andrew Bailey has reiterated that a Brexit with no deal between UK and EU would exerted more damage to the UK economy over the long run than the pandemic. As of writing, the pair of GBP\/USD rose 0.02% to 1.3359.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 1.38% to $45.52 per barrel as of writing amid encouraging news from vaccine\u2019s development continue supporting the rally of oil price. However, majority of the investors are now eyeing on the upcoming OPEC+ meeting which may provide further sight of oil market\u2019s demand outlook. Besides, gold price drop 0.28% to $1802.75 a troy ounce amid market risk on sentiment heightened.<\/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

Tentative\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 GBP\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 Autumn Budget<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
21.30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Oct)<\/td>\n0.8%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
21.30<\/td>\nUSD \u2013 GDP (QoQ) (Q3)<\/td>\n33.1%<\/td>\n33.2%<\/td>\n–<\/td>\n<\/tr>\n
21.30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n742K<\/td>\n730K<\/td>\n–<\/td>\n<\/tr>\n
23.00<\/td>\nUSD \u2013 New Home Sales (Oct)<\/td>\n959K<\/td>\n970K<\/td>\n–<\/td>\n<\/tr>\n
23.30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n0.768M<\/td>\n0.127M<\/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 following prior breakout below the previous support level at 92.15. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 91.75.<\/p>\n

 <\/p>\n

Resistance level: 92.15, 92.60<\/p>\n

Support level: 91.75, 91.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3310. 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: 1.3400, 1.3475<\/p>\n

Support level: 1.3310, 1.3220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1885. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1925.<\/p>\n

 <\/p>\n

Resistance level: 1.1925, 1.1965<\/p>\n

Support level: 1.1855, 1.1810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 104.65. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 104.30.<\/p>\n

 <\/p>\n

Resistance level: 104.65, 104.95<\/p>\n

Support level: 104.30, 103.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7365. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7365, 0.7415<\/p>\n

Support level: 0.7320, 0.7270<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6915. 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: 0.6980, 0.7010<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3010. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2960.<\/p>\n

 <\/p>\n

Resistance level: 1.3010, 1.3095<\/p>\n

Support level: 1.2960, 1.2875<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.9140, 0.9175<\/p>\n

Support level: 0.9100, 0.9055<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 44.75. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 46.25.<\/p>\n

 <\/p>\n

Resistance level: 46.25, 47.85<\/p>\n

Support level: 43.35, 41.70<\/p>\n

 <\/p>\n

 <\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1813.95. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1813.95, 1835.15<\/p>\n

Support level: 1782.00, 1761.80<\/p>\n","protected":false},"excerpt":{"rendered":"

25 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 Pound lingered while Brexit talks set to resume Friday. Pound sterling which acting as one of the major trading currency in FX market was having mixed pattern while staying above the level at 1.3350 while market participants are still remain cautious toward the upcoming resumed talk on Friday. Last […]<\/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\/148297"}],"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=148297"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/148297\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=148297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=148297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=148297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}