{"id":35011,"date":"2018-10-12T07:48:49","date_gmt":"2018-10-12T07:48:49","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=35011"},"modified":"2018-10-12T07:48:49","modified_gmt":"2018-10-12T07:48:49","slug":"121018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/121018-afternoon-session-analysis\/","title":{"rendered":"121018 Afternoon Session Analysis"},"content":{"rendered":"

12 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 edges higher while testing support. <\/strong><\/p>\n

Dollar index recovered part of its losses after falling to two-weeks low due to poor CPI data yesterday while challenging its support level at 94.60. The dollar rebound by 0.05% to 94.70 at early European trading session as a technical correction while remained traded in a bearish trend. Later today, US will release its Michigan Consumer Sentiment data where investors will react upon especially a lower than expected reading, which would cause the dollar to breaks its support. In other news, the pair of EUR\/USD remained flat at 1.1590 following German CPI data which met its expectation at 2.3%. Euro was extending its gains to a new high since early October yesterday amid the delay for Italy\u2019s budget plan.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price surged by 1.13% to $71.75 per barrel amid China\u2019s daily crude import which hit five-months high, indicating high demand for the oil. In other news, gold price slumped by 0.68% to $1,215.80 a troy ounce after surging to a new high since 25th<\/sup> July amid high demand for safe-haven asset.<\/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

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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

Tentative\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 CrudeOIL\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 IEA Monthly Report<\/p>\n

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Today\u2019s Highlight Economic 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
17:00<\/td>\nEUR \u2013 Industrial Production (MoM) (Aug)<\/td>\n-0.8%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Import Price Index (MoM) (Sep)<\/td>\n-0.6%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Oct)<\/td>\n100.1<\/td>\n100.4<\/td>\n–<\/td>\n<\/tr>\n
01:00 (13th<\/sup>)<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n861<\/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, H1: <\/strong>Dollar index was traded higher following prior rebound from the support level 94.60. MACD which illustrate bullish momentum and the formation of golden cross suggest the dollar to extend its rebound towards the resistance level 94.95.<\/p>\n

 <\/p>\n

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

Support level: 94.60, 94.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level 1.3245. Due to lack of information from the MACD, a breakout above or retracement from the resistance level is required for further confirmation before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 1.3245, 1.3315<\/p>\n

Support level: 1.3180, 1.3125<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the resistance level 1.1605. MACD which display bearish momentum and the formation of a death cross suggest the pair to extend its retracement towards the support level 1.1570.<\/p>\n

 <\/p>\n

Resistance level: 1.1605, 1.1625<\/p>\n

Support level: 1.1570, 1.1540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level 112.10. MACD which display persistent bullish momentum suggest the pair to extend its rebound towards the resistance level 112.60.<\/p>\n

 <\/p>\n

Resistance level: 112.60, 112.90<\/p>\n

Support level: 112.10, 111.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level 0.7125. MACD which display bearish momentum and the formation of a death cross suggest the pair to extend its retracement towards the support level 0.7100.<\/p>\n

 <\/p>\n

Resistance level: 0.7125, 0.7140<\/p>\n

Support level: 0.7100, 0.7085<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level 0.6530. MACD which display bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 0.6495.<\/p>\n

 <\/p>\n

Resistance level: 0.6530, 0.6595<\/p>\n

Support level: 0.6495, 0.6460<\/p>\n

 <\/p>\n

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USDCAD, H1: <\/strong>USDCAD was traded lower while currently testing the support level 1.3010. MACD which illustrate persistent bearish signal suggest the pair to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3080, 1.3130<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower following prior retrace from the resistance level 0.9900. MACD which illustrate diminished bullish momentum suggest the pair to extend its retracement towards the support level 0.9860.<\/p>\n

 <\/p>\n

Resistance level: 0.9900, 0.9920<\/p>\n

Support level: 0.9860, 0.9825<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level near 70.30. MACD which illustrate starting bullish bias suggest the commodity to extend its gains after a breakout above the resistance level 71.95.<\/p>\n

 <\/p>\n

Resistance level: 71.95, 73.55<\/p>\n

Support level: 70.30, 68.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower while currently testing the support level 1217.80. MACD which display bearish momentum and the formation of death cross suggest the commodity to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1225.00, 1231.10<\/p>\n

Support level: 1217.80, 1210.35<\/p>\n","protected":false},"excerpt":{"rendered":"

12 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar edges higher while testing support. Dollar index recovered part of its losses after falling to two-weeks low due to poor CPI data yesterday while challenging its support level at 94.60. The dollar rebound by 0.05% to 94.70 at early European trading session as a technical correction while […]<\/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\/35011"}],"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=35011"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/35011\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=35011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=35011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=35011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}