{"id":34331,"date":"2018-10-05T07:57:18","date_gmt":"2018-10-05T07:57:18","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=34331"},"modified":"2018-10-05T07:57:18","modified_gmt":"2018-10-05T07:57:18","slug":"051018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/051018-afternoon-session-analysis\/","title":{"rendered":"051018 Afternoon Session Analysis"},"content":{"rendered":"

5 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 edges higher ahead of economic data.<\/strong><\/p>\n

Greenback edged slightly higher by 0.10% to 95.45 at early European trading session while investors await the job data including the Non-farm Payrolls (NFP) which acts as a major indicator for the price of dollar. The dollar surged to its highest level since 17th<\/sup> August after Fed chairman Jerome Powell said that the interest rate will be raised to the estimated neutral rate of 3.4% before keeping the interest rate fixed. In other news, the pair AUD\/USD was down to a new low since December 2015 even with the Retail Sales data meeting its expectation. The pair was down by 0.28% to 0.7065 as of writing, continuing its bearish trend while the China market is closed for a week.<\/p>\n

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For the commodities market, crude oil price recovered part of its losses by 0.33% to $74.90 per barrel as the deadline of sanction on Iran hovers near. On the other hand, gold price slipped by 0.10% to $1,198.55 a troy ounce while investors are nervous about the upcoming NFP economic data.<\/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

N\/A<\/p>\n

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Today\u2019s Highlight Economy 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
20:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Sep)<\/td>\n0.4%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Sep)<\/td>\n201K<\/td>\n185K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unemployment Rate (Sep)<\/td>\n3.9%<\/td>\n3.8%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Employment Change (Sep)<\/td>\n-51.6K<\/td>\n25.0K<\/td>\n–<\/td>\n<\/tr>\n
01:00 (6th<\/sup>)<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n863<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the psychological level 95.50. MACD which illustrate a bearish signal suggest the dollar to extend its retracement towards the support level 95.25.<\/p>\n

 <\/p>\n

Resistance level: 95.70, 96.05<\/p>\n

Support level: 95.25, 94.65<\/p>\n

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 <\/p>\n

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GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level 1.3040. MACD which display bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 1.2980.<\/p>\n

 <\/p>\n

Resistance level: 1.3040, 1.3100<\/p>\n

Support level: 1.2980, 1.2905<\/p>\n

 <\/p>\n

 <\/p>\n

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EURUSD, H1: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.1510. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 1.1465.<\/p>\n

 <\/p>\n

Resistance level: 1.1510, 1.1570<\/p>\n

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

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level 114.00. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the support level 113.55.<\/p>\n

 <\/p>\n

Resistance level: 114.00, 114.55<\/p>\n

Support level: 113.55, 113.05<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level 0.7085. MACD which illustrate persistent bearish momentum suggest the pair to extend its losses towards the support level 0.7040.<\/p>\n

 <\/p>\n

Resistance level: 0.7085, 0.7125<\/p>\n

Support level: 0.7040, 0.7010<\/p>\n

 <\/p>\n

 <\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.6460. Recent price action and MACD which display bearish momentum suggest the pair to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6505, 0.6560<\/p>\n

Support level: 0.6460, 0.6430<\/p>\n

 <\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level 1.2905. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 1.2965.<\/p>\n

 <\/p>\n

Resistance level: 1.2965, 1.3050<\/p>\n

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

 <\/p>\n

 <\/p>\n

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USDCHF, H1: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.9940. MACD which illustrate bullish momentum and the formation of a golden cross suggest the pair to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

 <\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil price was traded higher while currently testing the resistance level 75.00. MACD which display bullish momentum and the starting formation of a golden cross suggest the commodity to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 75.00, 76.70<\/p>\n

Support level: 73.55, 71.90<\/p>\n

 <\/p>\n

 <\/p>\n

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GOLD_, H1: <\/strong>Gold price was traded lower while currently testing the support level 1197.90. MACD which display bearish bias suggest the commodity to extend its losses after a breakout below the support level 1197.90.<\/p>\n

 <\/p>\n

Resistance level: 1203.30, 1208.45<\/p>\n

Support level: 1197.90, 1191.10<\/p>\n","protected":false},"excerpt":{"rendered":"

5 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar edges higher ahead of economic data. Greenback edged slightly higher by 0.10% to 95.45 at early European trading session while investors await the job data including the Non-farm Payrolls (NFP) which acts as a major indicator for the price of dollar. The dollar surged to its highest […]<\/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\/34331"}],"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=34331"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/34331\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=34331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=34331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=34331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}