{"id":34203,"date":"2018-10-04T08:13:53","date_gmt":"2018-10-04T08:13:53","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=34203"},"modified":"2018-10-04T08:13:53","modified_gmt":"2018-10-04T08:13:53","slug":"041018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/041018-afternoon-session-analysis\/","title":{"rendered":"041018 Afternoon Session Analysis"},"content":{"rendered":"

4 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

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Dollar flat amid Powell comments on interest rate. \u00a0<\/strong><\/p>\n

The dollar index was seen flat during early European trading session at 95.65 after Fed Chairman Jerome Powell commented on the interest rate being far away from the neutral rate near 3%. In his speech he mentioned that the accommodative low interest rate is no longer needed as the US economy continues to strengthen. Although interest rates are still accommodative, the central bank will focus more on shifting it towards the neutral rate where the Fed plans to increase it to 3.4% before maintaining its interest rate. In other news, the pair GBP\/USD slipped by 0.03% to 1.2935 amid ongoing Brexit woes and the strengthening of the dollar. The pound touched near 10th<\/sup> September low as investors flee from risky assets market and enter into the safe-haven dollar market. Price direction for pound sterling will now depends strongly on Brexit sentiment.<\/p>\n

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As for commodities market, crude oil price fell by 0.07% to $76.10 per barrel this morning after news reported that Saudi Arabia and Russia discussed privately to increase crude output as Iran sanction comes near. On the other hand, gold price was down by 0.03% to $1,197.90 a troy ounce after being pressured by a stronger US dollar.<\/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\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

21:15\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

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Today\u2019s Highlight Economy Data<\/u><\/p>\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
19:30<\/td>\nUSD \u2013 Challenger Job Cuts (Sep)<\/td>\n38.5K<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n214K<\/td>\n211K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Aug)<\/td>\n-0.8%<\/td>\n2.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 Ivey PMI (Sep)<\/td>\n61.9<\/td>\n62.3<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar was traded lower following prior retracement from the resistance level 95.65. MACD which illustrate diminishing bullish momentum suggest the dollar to extend its retracement towards the support level 95.25.<\/p>\n

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Resistance level: 95.65, 96.00<\/p>\n

Support level: 95.25, 94.55<\/p>\n

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 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level 1.2925. MACD which illustrate starting bullish momentum suggest the pair to extend its rebound towards the resistance level 1.3010.<\/p>\n

 <\/p>\n

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

Support level: 1.2925, 1.2820<\/p>\n

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 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level 1.1465. MACD which display a starting bullish momentum suggest the pair to extend its rebound towards the resistance level 1.1530.<\/p>\n

 <\/p>\n

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

Support level: 1.1465, 1.1395<\/p>\n

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\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 114.55. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its retracement towards the support level 114.00.<\/p>\n

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Resistance level: 114.55, 114.85<\/p>\n

Support level: 114.00, 113.55<\/p>\n

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\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the support level 0.7085. MACD which display diminishing bearish momentum suggest the pair to be traded higher towards the resistance level 0.7125.<\/p>\n

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Resistance level: 0.7125, 0.7160<\/p>\n

Support level: 0.7085, 0.7040<\/p>\n

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout from the support of 0.6500. MACD which illustrate persistent bearish momentum suggest the pair to extend its losses towards the support level 0.6435.<\/p>\n

 <\/p>\n

Resistance level: 0.6500, 0.6560<\/p>\n

Support level: 0.6435, 0.6375<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level 1.2840. MACD which illustrate ongoing bullish momentum suggest the pair to extend its gains after a breakout above the resistance level 1.2905.<\/p>\n

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Resistance level: 1.2905, 1.2965<\/p>\n

Support level: 1.2840, 1.2785<\/p>\n

 <\/p>\n

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\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower following prior retracement from the resistance level 0.9930. MACD which illustrate bearish signal and the formation of death cross suggest the pair to extend its losses towards the support level 0.9875.<\/p>\n

 <\/p>\n

Resistance level: 0.9940, 0.9980<\/p>\n

Support level: 0.9875, 0.9815<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level 77.05. MACD which illustrate bearish momentum the starting formation of a death cross suggest the commodity to extend its losses towards 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 breakout below the previous support level 1197.90. Recent price action and MACD which illustrate bearish momentum and the formation of a death cross suggest the commodity to extend its losses towards the support level 1191.10.<\/p>\n

 <\/p>\n

Resistance level: 1197.90, 1203.30<\/p>\n

Support level: 1191.10, 1186.30<\/p>\n","protected":false},"excerpt":{"rendered":"

4 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar flat amid Powell comments on interest rate. \u00a0 The dollar index was seen flat during early European trading session at 95.65 after Fed Chairman Jerome Powell commented on the interest rate being far away from the neutral rate near 3%. In his speech he mentioned that the […]<\/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\/34203"}],"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=34203"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/34203\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=34203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=34203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=34203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}