{"id":33648,"date":"2018-09-28T08:22:46","date_gmt":"2018-09-28T08:22:46","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=33648"},"modified":"2018-09-28T08:22:47","modified_gmt":"2018-09-28T08:22:47","slug":"280918-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280918-afternoon-session-analysis\/","title":{"rendered":"280918 Afternoon Session Analysis"},"content":{"rendered":"

28 September 2018\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

Dollar remains strong amid Fed\u2019s rate hike comments.<\/strong><\/p>\n

Dollar index remains its strength in early European trading session after surging two weeks high yesterday amid US Federal Reserve Chairman Jerome Powell stated that gradual rate hikes is a good way to sustained economy growth. The dollar index rose 0.06% to 94.56 as of writing. Powell\u2019s remarks were followed after hiking in interest rates for a third time this year and in schedule for additional hikes next year. With all the positive sentiment surrounding the dollar this week, investors are shifting their portfolio towards the dollar thus pushing the dollar higher. In other news, the Australian dollar managed to regained its strength against the dollar amid today\u2019s morning economic data of Private Sector Credit for the month of August where the actual data of 0.5% was report higher than the forecasted data of 0.4%.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price appreciated by 0.10% to $72.24 per barrel amid the uncertainty over the potential impact on crude supply due to Iran sanctions. On the other hand, gold price plunged by 0.06% to $1,181.90 a troy ounce while the dollar continues its bullish momentum.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\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
16:30<\/td>\nGBP \u2013 GDP (QoQ) (Q2)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Sep)<\/td>\n2.0%<\/td>\n2.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core PCE Price Index (MoM) (Aug)<\/td>\n0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Spending (MoM) (Aug)<\/td>\n0.4%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Income (MoM) (Aug)<\/td>\n0.3%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Jul)<\/td>\n0.0%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Sep)<\/td>\n100.8<\/td>\n100.5<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n866<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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


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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher follow prior breakout above the previous resistance level 94.50. Recent price action and MACD which illustrate persistent bullish bias suggest the dollar to extend its gains towards the resistance level 94.80.<\/p>\n

 <\/p>\n

Resistance level: 94.80, 95.50<\/p>\n

Support level: 94.50, 93.95<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing near the support level 1.3065. MACD which display a bearish momentum suggest the pair to extend its losses after a breakout below the support level 1.3065.<\/p>\n

 <\/p>\n

Resistance level: 1.3180, 1.3280<\/p>\n

Support level: 1.3065, 1.2975<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.1680. Recent price action and MACD which display persistent bearish momentum suggest the pair to extend its losses towards the support level 1.1615.<\/p>\n

 <\/p>\n

Resistance level: 1.1680, 1.1730<\/p>\n

Support level: 1.1615, 1.1530<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 113.55. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 113.00.<\/p>\n

 <\/p>\n

Resistance level: 113.55, 114.15<\/p>\n

Support level: 113.00, 112.50<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the resistance level 0.7215. MACD which illustrate bearish momentum suggest the pair to extend its losses after a retracement from the resistance level 0.7215.<\/p>\n

 <\/p>\n

Resistance level: 0.7215, 0.7295<\/p>\n

Support level: 0.7135, 0.7090<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level 0.6635. Recent price movement and MACD which display persistent bearish signal suggest the pair to extend its losses towards the support level 0.6595.<\/p>\n

 <\/p>\n

Resistance level: 0.6635, 0.6690<\/p>\n

Support level: 0.6595, 0.6540<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level 1.3065. MACD which display diminishing bullish momentum suggest the pair to extend its losses in the short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.3065, 1.3155<\/p>\n

Support level: 1.2975, 1.2900<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded thinly near the support level of 0.9755. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains in the short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9810, 0.9875<\/p>\n

Support level: 0.9755, 0.9700<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within an ascending triangle while currently testing near the mid-level of the triangle. MACD which illustrate starting bullish momentum and the formation of golden cross suggest the commodity to be traded higher after a breakout above the triangle and resistance level 72.40.<\/p>\n

 <\/p>\n

Resistance level: 72.40, 73.00<\/p>\n

Support level: 71.25, 70.45<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level 1186.80. MACD which illustrate persistent bearish momentum suggest the commodity to extend its losses after a breakout below the support level 1180.50.<\/p>\n

 <\/p>\n

Resistance level: 1186.80, 1191.10<\/p>\n

Support level: 1180.50, 1173.60<\/p>\n","protected":false},"excerpt":{"rendered":"

28 September 2018\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   Dollar remains strong amid Fed\u2019s rate hike comments. Dollar index remains its strength in early European trading session after surging two weeks high yesterday amid US Federal Reserve Chairman Jerome Powell stated that gradual rate hikes is a good way to sustained economy growth. The dollar index rose […]<\/p>\n","protected":false},"author":20,"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\/33648"}],"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\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=33648"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/33648\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=33648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=33648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=33648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}