{"id":34734,"date":"2018-10-10T08:12:41","date_gmt":"2018-10-10T08:12:41","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=34734"},"modified":"2018-10-10T08:12:41","modified_gmt":"2018-10-10T08:12:41","slug":"101018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/101018-afternoon-session-analysis\/","title":{"rendered":"101018 Afternoon Session Analysis"},"content":{"rendered":"

10 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar pauses as market awaits further sentiment.\u00a0\u00a0\u00a0 <\/strong><\/p>\n

Dollar index edged lower by 0.10% to 95.20 during early European trading session while lack of sentiment put investors on hold towards the dollar. As dollar tests last week\u2019s support level, investors are waiting for a possible sentiment to further confirm the direction of the dollar. Earlier reports from Reuters stated that US President Donald Trump was unsatisfied with Fed\u2019s decision for gradual rate hikes, commenting that the inflation level of the country was in good condition and that a rush for rate hike was unnecessary. In other news, pair of AUD\/USD increased by 0.24% to 0.7120 as of writing amid higher than expected Westpac Consumer Sentiment data. Further boosting of Australian dollar was China\u2019s comment to prevent the use of competitive devaluation to weaken the Yuan, as accused by US officials. Investors gained confidence towards the Australian dollar as the country is one of the major partners with China.<\/p>\n

 <\/p>\n

For the commodities market, crude oil price rose 0.17% to $74.80 amid the disturbance in crude output caused by the hurricane affecting US Gulf. The hurricane had since stopped 40% of the gulf\u2019s total output. Otherwise, gold price ticked up 0.03% to $1,189.90 a troy ounce following weaker US 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

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
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 GDP (MoM)<\/td>\n0.3%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Aug)<\/td>\n-0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 PPI (MoM) (Sep)<\/td>\n-0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
04:30 (11th<\/sup>)<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n0.907M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower while currently testing the support level 95.20. MACD which illustrate a diminishing bullish momentum suggest the dollar to undergo technical correction towards the resistance level 95.45.<\/p>\n

 <\/p>\n

Resistance level: 95.45, 95.70<\/p>\n

Support level: 95.20, 94.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was recently traded higher following prior breakout above previous resistance level 1.3130. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.3185.<\/p>\n

 <\/p>\n

Resistance level: 1.3185, 1.3280<\/p>\n

Support level: 1.3130, 1.3045<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the resistance level 1.1510. MACD which display starting bearish momentum suggest the pair to extend its retracement towards the support level 1.1460.<\/p>\n

 <\/p>\n

Resistance level: 1.1510, 1.1540<\/p>\n

Support level: 1.1460, 1.1395<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level 113.00. MACD which display persistent bearish momentum suggest the pair to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

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

Support level: 113.00, 112.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level 0.7125. MACD which illustrate starting bearish momentum suggest the pair to extend its retracement towards the support level 0.7080.<\/p>\n

 <\/p>\n

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

Support level: 0.7080, 0.7040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level 0.6495. MACD which display starting bearish momentum suggest the pair to extend its retracement towards the support level 0.6460.<\/p>\n

 <\/p>\n

Resistance level: 0.6495, 0.6540<\/p>\n

Support level: 0.6460, 0.6425<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level 1.2955. MACD which illustrate bearish signal and the formation of a death cross suggest the pair to extend its losses towards the support level 1.2905.<\/p>\n

 <\/p>\n

Resistance level: 1.2955, 1.3010<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was recently traded lower following prior retracement from the resistance level 0.9940. MACD which display bearish bias suggest the pair to extend its retracement 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

CrudeOIL, H4: <\/strong>Crude oil price was recently traded higher while currently testing near the resistance level 75.00. MACD which illustrate diminishing bullish momentum suggest the commodity to undergo a retracement towards the support level 73.55.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remain traded in a sideway channel while currently testing near the resistance level 1191.10. MACD which display ongoing bullish momentum suggest the commodity to extend its gains after a breakout above the channel or resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1191.10, 1197.90<\/p>\n

Support level: 1185.35, 1173.60<\/p>\n","protected":false},"excerpt":{"rendered":"

10 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar pauses as market awaits further sentiment.\u00a0\u00a0\u00a0 Dollar index edged lower by 0.10% to 95.20 during early European trading session while lack of sentiment put investors on hold towards the dollar. As dollar tests last week\u2019s support level, investors are waiting for a possible sentiment to further confirm […]<\/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\/34734"}],"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=34734"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/34734\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=34734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=34734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=34734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}