{"id":33934,"date":"2018-10-02T08:22:16","date_gmt":"2018-10-02T08:22:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=33934"},"modified":"2018-10-02T08:22:16","modified_gmt":"2018-10-02T08:22:16","slug":"021018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021018-afternoon-session-analysis\/","title":{"rendered":"021018 Afternoon Session Analysis"},"content":{"rendered":"

2 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afernoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar strengthened amid new NAFTA. <\/strong><\/p>\n

Greenback gained its bullish momentum as the NAFTA negotiations progressed to the United States-Canada-Mexico Agreement (USCMA) as US and Canada came into an agreement which affects Canada\u2019a dairies market and Automobile industry. United States farmers will have more access to Canada\u2019s dairies market as well as higher wage pay of not less than $16 an hour at North America Auto industry. Investors sentiment now move towards a bullish momentum for the dollar which surged by 0.18% to 95.10 as of writing. On the other hand, pair of AUD\/USD turned bearish, declining by 0.39% to 0.7195 this early European trading session. The Aussie was seen increasing moments before their RBA Interest Rate Decision and Statement, which reported a 1.50% interest rate as expected.<\/p>\n

 <\/p>\n

For the commodities market, crude oil price rose 0.20% to $75.60 per barrel, its highest level since late 2014. The crude market continues to gain bullish sentiment amid Iran sanctions which expects a major decline in supply. On the other hand, gold price surged by 0.42% to $1193.60 a troy ounce despite the gain in dollar.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CNY\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 China \u2013 National Day<\/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\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

12:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\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 RBA Rate Statement<\/p>\n

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Member Quarles Speaks<\/p>\n

00:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 Fed Chair Powell Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy 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
16:30<\/td>\nGBP \u2013 Construction PMI (Sep)<\/td>\n52.9<\/td>\n52.8<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n2.903M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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

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

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


\n<\/u><\/strong><\/p>\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 following prior breakout above the previous resistance level 94.95. MACD which illustrate starting bullish signal suggest the dollar to extend its gains towards the resistance level 95.50.<\/p>\n

 <\/p>\n

Resistance level: 95.00, 96.30<\/p>\n

Support level: 94.95, 94.60<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the 50.0 psychological level at 1.3040. MACD which illustrate a bearish momentum and the formation of a death cross suggest the pair to extend its losses towards the support level 1.2975.<\/p>\n

 <\/p>\n

Resistance level: 1.3065, 1.3180<\/p>\n

Support level: 1.2975, 1.2905<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.1570. MACD which display bearish momentum and the formation of a death cross suggest the pair to extend its losses towards the support level 1.1530.<\/p>\n

 <\/p>\n

Resistance level: 1.1570, 1.1615<\/p>\n

Support level: 1.1530, 1.1465<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 114.15. MACD which display bearish bias and the formation of a death cross suggest the pair to extend its retracement towards the support level 113.55.<\/p>\n

 <\/p>\n

Resistance level: 114.15, 114.70<\/p>\n

Support level: 113.55, 113.00<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the psychological level. MACD which illustrate a starting bearish momentum suggest the pair to extend its losses after a breakout below the psychological level.<\/p>\n

 <\/p>\n

Resistance level: 0.7240, 0.7260<\/p>\n

Support level: 0.7230, 0.7200<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.6595. Due to lack of signal from the MACD, a breakout below or rebound from the support level 0.6595 is required for further confirmation.<\/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 higher while currently testing the resistance level 1.2820. MACD which display a starting bullish momentum suggest the pair to extend its gains after a breakout above the resistance level 1.2820.<\/p>\n

 <\/p>\n

Resistance level: 1.2820, 1.2900<\/p>\n

Support level: 1.2730, 1.2670<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level 0.9815. MACD which illustrate a starting bearish momentum and the formation of a death cross suggest the pair to traded lower as a technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9875, 0.9900<\/p>\n

Support level: 0.9815, 0.9755<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the psychological level 75.74. MACD which illustrate a persistent bullish momentum suggest the commodity to extend its gains after a breakout above the psychological level.<\/p>\n

 <\/p>\n

Resistance level: 77.05, 78.25<\/p>\n

Support level: 72.80, 71.25<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher while currently testing the 38.2 psychological level at 1192.75. MACD which illustrate bullish momentum suggest the commodity to extend its gains after a breakout above the psychological level and the bearish trend line.<\/p>\n

 <\/p>\n

Resistance level: 1196.00, 1203.30<\/p>\n

Support level: 1191.10, 1186.80<\/p>\n","protected":false},"excerpt":{"rendered":"

2 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afernoon Session Analysis   Dollar strengthened amid new NAFTA. Greenback gained its bullish momentum as the NAFTA negotiations progressed to the United States-Canada-Mexico Agreement (USCMA) as US and Canada came into an agreement which affects Canada\u2019a dairies market and Automobile industry. United States farmers will have more access to Canada\u2019s dairies market […]<\/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\/33934"}],"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=33934"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/33934\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=33934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=33934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=33934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}