{"id":149837,"date":"2020-12-09T05:06:58","date_gmt":"2020-12-09T05:06:58","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=149837"},"modified":"2020-12-09T05:06:58","modified_gmt":"2020-12-09T05:06:58","slug":"091220-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/091220-afternoon-session-analysis\/","title":{"rendered":"091220 Afternoon Session Analysis"},"content":{"rendered":"

09 December 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie held steady despite weak China data.<\/strong><\/span><\/p>\n

During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have managed to maintain its hold its ground even with recent disappointing figures from China inflation data. According to National Bureau of Statistics of China, China\u2019s CPI have dropped to -0.6%, worst than market expectation of -0.2%. It was also the first decline since Oct 2009 due to result of sluggish food-price inflation. Despite that, market sentiment remains buoyant and staying positive due to market cautious optimism on U.S stimulus and vaccine. US House Speaker Nancy Pelosi and House Democrat Leader Chuck Schumer said that the White House plan of the coronavirus (COVID-19) aid package is unacceptable. Following a light economic calendar, investors will be looking for fresh catalyst to determine further direction for the pair. At the time of writing, AUD\/USD edge higher 0.20% to 0.7424.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 0.15% to $45.36 per barrel as on concerns over an unexpected jump in U.S. oil inventories last week. After API reported an unexpected increase in crude inventories, the commodity experience selling pressure. Still, positive news on COVID-19 vaccines may capping losses. On the other hand, gold price retreats 0.42% to $1862.09 a troy ounce at the time of writing following profit taking.<\/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 Market\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 Market\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 Economic Data<\/u><\/p>\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
23:00<\/td>\nJOLTs Job Openings (Oct)<\/td>\n6.436M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nBoC Interest Rate Decision<\/td>\n0.25%<\/td>\n0.25%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrude Oil Inventories<\/td>\n-0.679M<\/td>\n-2.358M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/u><\/strong><\/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 higher level. MACD which illustrate diminishing bullish momentum suggest the dollar to extend its losses toward the support level at 90.60.<\/p>\n

 <\/p>\n

Resistance level: 91.10, 91.45<\/p>\n

Support level: 90.60, 90.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3385. MACD which illustrates diminishing bearish momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.3385.<\/p>\n

 <\/p>\n

Resistance level: 1.3385, 1.3470<\/p>\n

Support level: 1.3290, 1.3195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.2105. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.2135.<\/p>\n

 <\/p>\n

Resistance level: 1.2135, 1.2175<\/p>\n

Support level: 1.2105, 1.2045<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level at 104.00. MACD which illustrate bullish bias momentum suggest the pair to extend its gains toward the resistance level at 104.35.<\/p>\n

 <\/p>\n

Resistance level: 104.35, 104.70<\/p>\n

Support level: 104.00, 103.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7400. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 0.7445.<\/p>\n

 <\/p>\n

Resistance level: 0.7445, 0.7480<\/p>\n

Support level: 0.7400, 0.7365<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.7015.\u00a0 MACD which illustrate diminishing bearish momentum signal with the formation of death corss suggest the pair to extend its gains toward the resistance level at 0.7090.<\/p>\n

 <\/p>\n

Resistance level: 0.7090, 0.7175<\/p>\n

Support level: 0.7015, 0.6960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2815. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.2770.<\/p>\n

 <\/p>\n

Resistance level: 1.2810, 1.2855<\/p>\n

Support level: 1.2770, 1.2715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.8895. MACD which display diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 0.8870.<\/p>\n

 <\/p>\n

Resistance level: 0.8895, 0.8945<\/p>\n

Support level: 0.8870, 0.8830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 45.50. MACD which illustrate bearish bias momentum signal suggest the commodity to extend its losses toward the support level at 44.65.<\/p>\n

Resistance level: 45.50, 46.65<\/p>\n

Support level: 44.65, 43.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1859.95. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses after it successfully breakout below the support level at 1859.95.<\/p>\n

 <\/p>\n

Resistance level: 1870.15, 1883.65<\/p>\n

Support level: 1859.95, 1844.50<\/p>\n","protected":false},"excerpt":{"rendered":"

09 December 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 Afternoon Session Analysis   Aussie held steady despite weak China data. During late Asian session, the Australian dollar which traded against the greenback and other currency pairs have managed to maintain its hold its ground even with recent disappointing figures from China inflation data. According to National Bureau of Statistics of China, […]<\/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\/149837"}],"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=149837"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/149837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=149837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=149837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=149837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}