{"id":149978,"date":"2020-12-10T04:07:33","date_gmt":"2020-12-10T04:07:33","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=149978"},"modified":"2020-12-10T04:07:33","modified_gmt":"2020-12-10T04:07:33","slug":"101220-2","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/101220-2\/","title":{"rendered":"101220 Afternoon Session Analysis"},"content":{"rendered":"

10 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

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Pound slips as Brexit risk intensifies.<\/strong><\/span><\/p>\n

During late Asian session, the pound sterling which traded against the greenback and other currency pairs have continue to experience selling pressure following Brexit deadlock remains unsettled after meeting. According to the EU chief executive, EU and UK remained “far apart” on Brexit trade deal. Following the impasse, UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen have agreed that both sides will have until Sunday to take a “firm decision” about the future of trade talks. Bank of England Governor Andrew Bailey has warned that a no-deal Brexit would may cause damage in long term to Britain’s economy than the COVID-19 pandemic and the impact of the change might be felt for decades. Due to the increasing risk of hard-Brexit, investors slowly straying away from the pound sterling. At the time of writing, GBP\/USD slips 0.24% to 1.3360.<\/p>\n

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In the commodities market, crude oil price remains steady and edge higher 0.33% to $45.80 per barrel as of writing following vaccine rollout and concerns over Iraq oilfield attack. As vaccination process have started on certain countries, optimism over vaccine continue to provide support for the black commodity. On top of that, Oil prices were also boosted by some nervousness after two wells at a small oilfield in northern Iraq were set ablaze in what the government called a “terrorist attack” and could potentially affect oil production. On the other hand, gold price slips 0.05% to $1839.53 a troy ounce at the time of writing follow dollar rebound.<\/p>\n

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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

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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

20:45\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 ECB Monetary Policy Statement<\/p>\n

21:30\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 ECB Press Conference<\/p>\n

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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
15:00<\/td>\nGBP – GDP (MoM)<\/td>\n1.1%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP – Manufacturing Production (MoM) (Oct)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:45<\/td>\nEUR – ECB Interest Rate Decision (Dec)<\/td>\n0.00%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core CPI (MoM) (Nov)<\/td>\n0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n712K<\/td>\n725K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level at 91.10. MACD which illustrate bullish bias momentum suggest the dollar to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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

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

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.3385. MACD which illustrates diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.3290.<\/p>\n

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

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

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EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.2075. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.2105.<\/p>\n

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Resistance level: 1.2105, 1.2135<\/p>\n

Support level: 1.2075, 1.2045<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 104.35. MACD which illustrate bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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

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

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AUDUSD, H1: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7445. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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

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

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NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.7015.\u00a0 MACD which illustrate bearish bias momentum signal with the formation of death cross suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

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

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

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USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2815. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 1.2815.<\/p>\n

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Resistance level: 1.2855, 1.2915<\/p>\n

Support level: 1.2815, 1.2770<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance 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

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

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

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 45.50. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains toward the resistance level at 46.65.<\/p>\n

 <\/p>\n

Resistance level: 46.65, 48.20<\/p>\n

Support level: 45.50, 44.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1830.65. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains toward the resistance level at 1844.50.<\/p>\n

 <\/p>\n

Resistance level: 1844.50, 1859.95<\/p>\n

Support level: 1830.65, 1815.50<\/p>\n","protected":false},"excerpt":{"rendered":"

10 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   Pound slips as Brexit risk intensifies. During late Asian session, the pound sterling which traded against the greenback and other currency pairs have continue to experience selling pressure following Brexit deadlock remains unsettled after meeting. According to the EU chief executive, EU and UK remained “far apart” on […]<\/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\/149978"}],"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=149978"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/149978\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=149978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=149978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=149978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}