{"id":34064,"date":"2018-10-03T08:21:20","date_gmt":"2018-10-03T08:21:20","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=34064"},"modified":"2018-10-03T08:21:20","modified_gmt":"2018-10-03T08:21:20","slug":"031018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/031018-afternoon-session-analysis\/","title":{"rendered":"031018 Afternoon Session Analysis"},"content":{"rendered":"

3 October 2018\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 falls amid Italy\u2019s new budget plan.<\/strong><\/p>\n

The dollar index retraced from its psychological level at 95.15 after Italy\u2019s Government announced a revised budget plan. Yesterday\u2019s plan of 2.4% Deficit-to-GDP will be reduced to 2% by 2021, while the country\u2019s debt-to-GDP estimated at 131% is under planned by the government to lower it down to 127% by 2021. The sentiment boosted the euro while turning bad for the dollar, which fell by 0.16% to 94.90 during early European trading session. In other news, the pair EUR\/USD was seen regaining its bullish momentum right after Italy announced its new budget plan. The pair surge as much as 30 pips and is currently written at 1.1584. Investors confidence was boosted by the sentiment and decided to move their portfolio to pro-euro.<\/p>\n

 <\/p>\n

As for commodities, crude oil price continues to recover by 0.33% to $75.30 per barrel during Asian session due to the worsening sentiment on Iran sanctions its deadline approaches. On the other hand, gold price retraced some of its gains by 0.04% to $1,202.30 a troy ounce as a minor technical correction.<\/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 Event<\/strong><\/p>\n

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

04:00 (4th<\/sup>)\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 Fed Chair Powell Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Sep)<\/td>\n54.3<\/td>\n54.0<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Retail Sales (MoM) (Aug)<\/td>\n-0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD \u2013 ADP Nonfarm Employment Change (Sep)<\/td>\n163K<\/td>\n187K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing Employment (Sep)<\/td>\n56.7<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Non-Manufacturing PMI (Sep)<\/td>\n58.5<\/td>\n58.1<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n1.852M<\/td>\n1.985M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n


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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>The dollar was traded lower following prior retracement from the psychological level at 95.15. MACD which illustrate bearish momentum and the formation of a death cross suggest the dollar to extend its losses towards the support level 94.50.<\/p>\n

 <\/p>\n

Resistance level: 95.30, 95.60
\nSupport level 94.50, 93.90<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was recently traded higher while currently testing the bearish trend line. MACD which illustrate a bullish momentum and the starting formation of a golden cross suggest the pair to extend its gains after a breakout above the trend line or the resistance level 1.3010.<\/p>\n

 <\/p>\n

Resistance level: 1.3010, 1.3075
\nSupport level: 1.2940, 1.2820<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was recently traded higher following prior breakout above the previous resistance level 1.1570. MACD which illustrate ongoing bullish momentum suggest the pair to extend its gains towards the resistance level 1.1615.<\/p>\n

 <\/p>\n

Resistance level: 1.1615, 1.1680
\nSupport level: 1.1570, 1.1530<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was recently traded higher following prior rebound from the support level 113.55. MACD which illustrate bullish bias and the formation of golden cross suggest the pair to extend its gains towards the resistance level 113.05.<\/p>\n

 <\/p>\n

Resistance level: 114.05, 114.70
\nSupport level: 113.55, 113.30<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was recently traded lower following prior breakout below the previous support level 0.7215. MACD which display bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 0.7160.<\/p>\n

 <\/p>\n

Resistance level: 0.7215, 0.7295
\nSupport level: 0.7160, 0.7135<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level 0.6595. Recent price action and MACD which illustrate persistent bearish momentum suggest the pair to extend its losses towards the support level 0.6540.<\/p>\n

 <\/p>\n

Resistance level: 0.6595, 0.6635
\nSupport level: 0.6540, 0.6500<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level 1.2785. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after a breakout above the resistance level 1.2840.<\/p>\n

 <\/p>\n

Resistance level: 1.2840, 1.2905<\/p>\n

Support level: 1.2965, 1.3065<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF remain traded in a sideway channel at the middle level. MACD which display starting bullish momentum and the formation of a golden cross suggest the pair to extend its gains after a breakout from the channel or above the resistance level 0.9875.<\/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 lower following prior retracement from the psychological level 75.75. MACD which illustrate bearish momentum and the starting formation of a death cross suggest the commodity to extend its losses after a breakout below the support level 74.85.<\/p>\n

 <\/p>\n

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

Support level 74.85, 72.80<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level 1208.45. MACD which illustrate a persistent bullish momentum suggest the retracement to be a short-term technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1208.45, 1212.65
\nSupport level: 1203.30, 1196.00<\/p>\n","protected":false},"excerpt":{"rendered":"

3 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar falls amid Italy\u2019s new budget plan. The dollar index retraced from its psychological level at 95.15 after Italy\u2019s Government announced a revised budget plan. Yesterday\u2019s plan of 2.4% Deficit-to-GDP will be reduced to 2% by 2021, while the country\u2019s debt-to-GDP estimated at 131% is under planned by […]<\/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\/34064"}],"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=34064"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/34064\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=34064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=34064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=34064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}