{"id":148798,"date":"2020-11-30T03:33:29","date_gmt":"2020-11-30T03:33:29","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=148798"},"modified":"2020-11-30T03:33:29","modified_gmt":"2020-11-30T03:33:29","slug":"301120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/301120-afternoon-session-analysis\/","title":{"rendered":"301120 Afternoon Session Analysis"},"content":{"rendered":"

30 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

 <\/p>\n

China\u2019s data propelled market optimism.<\/strong><\/span><\/p>\n

Australian and New Zealand dollar extended its gains during Asian trading session following the release of economic data from China. For the month of November, China\u2019s Manufacturing PMI rose to 52.1, substantially higher than forecast of 51.5. The data shows that China\u2019s industrial activity expanded at its fastest pace in more than three years, keeping track to be the first major economy to fully recover from coronavirus crisis. However, surging infections and fresh lockdowns in many of China\u2019s key trading partners may damp the demand for Chinese exports. The data has refreshed the demand for China-reliant currencies such as Australia and New Zealand dollar. As of writing, the pair of AUD\/USD was up 0.20% to 0.7399 while NZD\/USD rose 0.26% to 0.7041. On the other hand, Trump administration announced their decision to add China\u2019s top chipmaker SMIC and national offshore oil and gas producer CNOOC to defense blacklist. The decision was made after US accuses both companies to have possible ties with China\u2019s military while citing the motive to be a national security concern. The announcement escalated tensions with Beijing week before President-elect Joe Biden assumes office. As of writing, pair of USD\/JPY slumped 0.19% to 103.87.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slumped 0.79% to $45.20 per barrel. Oil futures continues to retreat from its previous high levels following risk aversion in the market due to escalating US-China tensions. On the other hand, gold price depreciates by 0.30% to $1,782.22 a troy ounce as imminent vaccine approval in major economies such as US and UK invigorated market\u2019s demand for equities.<\/p>\n

\u00a0<\/u><\/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

18:00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB President Lagarde Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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>\nCAD \u2013 GDP (MoM)<\/td>\n1.2%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Oct)<\/td>\n1.0%<\/td>\n-2.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

\u00a0<\/u><\/strong><\/p>\n

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

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DOLLAR_INDX, Weekly: <\/strong>Dollar index was traded lower following prior closure below 91.85. MACD which begins to form bearish signal suggests the index to extend its losses to 90.25.<\/p>\n

 <\/p>\n

Resistance level: 91.85, 94.30<\/p>\n

Support level: 90.25, 88.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the lower level. MACD which portrays diminished downward momentum suggests the pair to extend its gains towards the resistance level of 1.3390.<\/p>\n

 <\/p>\n

Resistance level: 1.3390, 1.3500<\/p>\n

Support level: 1.3275, 1.3190<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior closure above 1.1950. MACD which illustrate bullish signal suggest the pair to extend its gains towards 1.2000.<\/p>\n

 <\/p>\n

Resistance level: 1.2000, 1.2065<\/p>\n

Support level: 1.1950, 1.1890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retrace from its prior resistance level. MACD which illustrate bearish signal suggests the pair to extend its losses towards the support of 103.65.<\/p>\n

 <\/p>\n

Resistance level: 104.15, 104.65<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1:<\/strong> AUDUSD was traded higher following prior closure above 0.7390. However, MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7430, 0.7480<\/p>\n

Support level: 0.7390, 0.7325<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 0.7050.<\/p>\n

 <\/p>\n

Resistance level: 0.7050, 0.7140<\/p>\n

Support level: 0.6965, 0.6885<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retrace from its higher level. MACD which begins to form bearish signal suggests the pair to extend its losses after closing below 1.2965.<\/p>\n

 <\/p>\n

Resistance level: 1.3045, 1.3100<\/p>\n

Support level: 1.2965, 1.2890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near 0.9035. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9070, 0.9095<\/p>\n

Support level: 0.9035, 0.9005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower following prior retrace from its higher level. MACD which begins to form bearish signal suggest its price to extend its losses after closing below 44.70.<\/p>\n

 <\/p>\n

Resistance level: 46.05, 47.00<\/p>\n

Support level: 44.70, 43.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower while currently testing near 1772.00. MACD which illustrate bearish signal suggest its price to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1842.95, 1930.75<\/p>\n

Support level: 1772.00, 1701.00<\/p>\n","protected":false},"excerpt":{"rendered":"

30 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   China\u2019s data propelled market optimism. Australian and New Zealand dollar extended its gains during Asian trading session following the release of economic data from China. For the month of November, China\u2019s Manufacturing PMI rose to 52.1, substantially higher than forecast of 51.5. The data shows that China\u2019s industrial […]<\/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\/148798"}],"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=148798"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/148798\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=148798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=148798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=148798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}