{"id":36041,"date":"2018-10-24T06:29:55","date_gmt":"2018-10-24T06:29:55","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=36041"},"modified":"2018-10-24T06:32:41","modified_gmt":"2018-10-24T06:32:41","slug":"241018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/241018-afternoon-session-analysis\/","title":{"rendered":"241018 Afternoon Session Analysis"},"content":{"rendered":"

24 October 2018\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 flatten despite Wall Street closed lower.<\/strong><\/span><\/p>\n

US Dollar managed to hold against a basket of six major peer currencies after US market closed with loss. The poor performance of Wall Street spurring a risk off move that benefited the safe haven asset such as Japanese Yen and Gold as it imply that the outlook of US economic growth might be worsen. Although dollar is also categorized as a safe haven currency, but the weakness of US market has exerted negative momentum toward the greenback against other currency. However, the negative sentiment does not come into effect as majority of the market participants are still keeping their eyes on the coming announcement of September New Home Sales data. US Dollar notched down 0.03% to 95.65 as of writing. On the other hand, the pair of CAD\/USD was traded lower 0.08% to 1.3075 while investor eyes on the BoC Interest Rate Decision later today. Although the domestic inflation and retails sales data of Canada was came in weaker than forecasted reading, but economist are still expect the Bank of Canada to raise its interest rate by 25 basis point to 1.75 percent.<\/p>\n

 <\/p>\n

In the commodities market, crude oil notched up 0.79% to $66.55 per barrel amid despite Saudi pledged to meet any supply shortfall that might happened due to the US sanctions against Iran. Next, gold price surged 0.14% to $1231.75 amid higher demand of safe haven along with a weaker dollar.<\/p>\n

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 <\/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

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Monetary Policy Report<\/p>\n

23:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Press Conference<\/p>\n

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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
15:30<\/td>\nEUR \u2013 German Manufacturing PMI (Oct)<\/td>\n53.7<\/td>\n53.5<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Gross Mortgage Approvals<\/td>\n39.4K<\/td>\n39.0K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 New Home Sales (Sep)<\/td>\n629K<\/td>\n630K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/td>\n1.50%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n6.490M<\/td>\n3.694M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower while currently testing near the upward trend line. MACD which illustrate starting bullish momentum suggests the index to extend its gains, towards the direction of 95.75.<\/p>\n

Resistance level: 95.75, 95.90<\/p>\n

Support level: 95.50, 95.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retrace from the downward trendline. MACD which illustrate starting bullish momentum suggests the pair to be traded higher in short term toward downward trend line.<\/p>\n

Resistance level: 1.3015, 1.3065<\/p>\n

Support level: 1.2955, 1.2905<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1455. MACD which illustrate starting upward momentum suggests the pair to be traded higher in short-term toward the resistance level at 1.1490.<\/p>\n

Resistance level: 1.1490, 1.1530<\/p>\n

Support level: 1.1445, 1.1430<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior breakout from the previous resistance level. MACD which illustrate bullish momentum and formation of golden cross suggest the pair to extend its gains toward the resistance level at 112.70<\/p>\n

Resistance level: 112.70, 112.90<\/p>\n

Support level: 112.40, 112.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near resistance level at 0.7100. MACD which illustrate starting bullish momentum and formation of golden cross suggests the pair to extend its gains after successfully breakout.<\/p>\n

Resistance level: 0.7100, 0.7145<\/p>\n

Support level: 0.7065, 0.7045<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout from the previous support level at 0.6580. MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 0.6580.<\/p>\n

Resistance level: 0.6580, 0.6605<\/p>\n

Support level: 0.6535, 0.6495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the support level at 1.3075. MACD which illustrate bearish momentum and formation of death cross suggest the pair to extend it losses after successfully breakout.<\/p>\n

Resistance level: 1.3120, 1.3185<\/p>\n

Support level: 1.3075, 1.3050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF remains traded within a sideways channel following prior rebound from the lower level. MACD which illustrate diminishing of bullish momentum suggest the pair to be traded lower toward the support level at 0.9940.<\/p>\n

Resistance level: 0.9975, 1.0050<\/p>\n

Support level: 0.9940, 0.9925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout from the previous support level at 67.35. MACD which illustrate diminishing of bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 67.35.<\/p>\n

Resistance level: 67.35, 68.50<\/p>\n

Support level: 66.20, 64.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level of 1229.50. MACD which illustrate diminishing upward momentum suggests the commodity price to be traded lower in short term toward the support level at 1229.50.<\/p>\n

Resistance level: 1237.55, 1244.75<\/p>\n

Support level: 1229.50, 1221.35<\/p>\n","protected":false},"excerpt":{"rendered":"

24 October 2018\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Afternoon Session Analysis   Dollar flatten despite Wall Street closed lower. US Dollar managed to hold against a basket of six major peer currencies after US market closed with loss. The poor performance of Wall Street spurring […]<\/p>\n","protected":false},"author":54,"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\/36041"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=36041"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/36041\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=36041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=36041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=36041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}