{"id":35411,"date":"2018-10-17T07:17:20","date_gmt":"2018-10-17T07:17:20","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=35411"},"modified":"2018-10-17T07:17:20","modified_gmt":"2018-10-17T07:17:20","slug":"171018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/171018-afternoon-session-analysis\/","title":{"rendered":"171018 Afternoon Session Analysis"},"content":{"rendered":"

17 October 2018\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 rises amid economy recovery sentiment.<\/strong><\/p>\n

Dollar index rebound from 3-week low, appreciating by 0.20% to 94.90 during early European trading session amid a rebound on three main Wall Street indices. The strong earnings from blue-chips provided a positive sentiment towards US economy growth despite gradual rate hikes and tensions from the ongoing trade wars. Further boosting the sentiment was yesterday\u2019s JOLTs Job Openings data which reflects growing working industry with an actual reading of 7.136M compared to the forecasted value of 6.945M. In other news, pair of GBP\/USD was down by 0.09% to 1.3170 ahead of EU summit where UK Prime Minister Theresa May is expected to provide a win-win proposal which includes the Northern Ireland border issue in order for the success of Brexit deal. Investors exit the pound market while waiting for further sentiment from the summit.<\/p>\n

 <\/p>\n

As for commodities market, crude oil was traded flat at $71.95 per barrel while investors wait for today\u2019s Crude Oil Inventories data to further confirm the price direction of crude oil. On the other hand, gold price was down 0.18% to $1,222.60 a troy ounce following dollar rebound.<\/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 HKD\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 Hong Kong \u2013 Chung Yeung 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

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 EUR\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 EU Economic Forecasts<\/p>\n

02:00 (18th<\/sup>\uff09\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 Meeting Minutes<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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 CPI (YoY) (Sep)<\/td>\n2.7%<\/td>\n2.6%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Sep)<\/td>\n2.1%<\/td>\n2.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Building Permits (Sep)<\/td>\n1.249M<\/td>\n1.278M<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Manufacturing Sales (MoM) (Aug)<\/td>\n0.9%<\/td>\n-0.6%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n5.987M<\/td>\n2.167M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

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

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the support level 94.55. MACD which illustrate bullish momentum suggest the dollar to extend its gains towards the resistance level 95.00<\/p>\n

 <\/p>\n

Resistance level: 95.00, 95.35<\/p>\n

Support level: 94.55, 94.20<\/p>\n

 <\/p>\n

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GPBUSD, H4:<\/strong> GBPUSD was traded lower following prior breakout below the previous support level 1.3180. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 1.3115.<\/p>\n

 <\/p>\n

Resistance level: 1.3180, 1.3245<\/p>\n

Support level: 1.3115, 1.3030<\/p>\n

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EURUSD, H1: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.1570. MACD which illustrate persistent bearish momentum suggest the pair to extend its losses towards the support level 1.1540.<\/p>\n

 <\/p>\n

Resistance level: 1.1570, 1.1605<\/p>\n

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

 <\/p>\n

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USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 112.50. MACD which illustrate bearish signal and the formation of a death cross suggest the pair to extend its losses towards the support level 111.90.<\/p>\n

 <\/p>\n

Resistance level: 112.50, 112.85<\/p>\n

Support level: 111.90, 111.35<\/p>\n

 <\/p>\n

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AUDUSD, H1: <\/strong>AUDUSD was traded higher while currently testing the resistance level 0.7140. MACD which display diminishing bearish momentum suggest the pair to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7140, 0.7160<\/p>\n

Support level: 0.7115, 0.7085<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level 0.6575. MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower after a breakout below the support level 0.6575.<\/p>\n

 <\/p>\n

Resistance level: 0.6635, 0.6675<\/p>\n

Support level: 0.6575, 0.6530<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded higher while currently testing near the resistance level 1.2960. MACD which illustrate bullish momentum suggest the pair to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2960, 1.3000<\/p>\n

Support level: 1.2920, 1.2880<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF remain traded within a sideway channel following prior rebound from the support level 0.9860. MACD which illustrate bullish momentum suggest the pair to extend its rebound towards the resistance level 0.9950.<\/p>\n

 <\/p>\n

Resistance level: 0.9950, 0.9980<\/p>\n

Support level: 0.9860, 0.9800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level 72.00. MACD which illustrate persistent bullish momentum suggest the commodity to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 72.00, 73.55<\/p>\n

Support level: 72.25, 68.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level 1225.05. MACD which illustrate bearish momentum and the formation of death cross suggest the gold to extend its losses towards the support level 1217.80.<\/p>\n

 <\/p>\n

Resistance level: 12225.05, 1233.65<\/p>\n

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

17 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar rises amid economy recovery sentiment. Dollar index rebound from 3-week low, appreciating by 0.20% to 94.90 during early European trading session amid a rebound on three main Wall Street indices. The strong earnings from blue-chips provided a positive sentiment towards US economy growth despite gradual rate hikes […]<\/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\/35411"}],"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=35411"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/35411\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=35411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=35411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=35411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}