{"id":36376,"date":"2018-10-26T06:35:10","date_gmt":"2018-10-26T06:35:10","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=36376"},"modified":"2018-10-26T06:35:10","modified_gmt":"2018-10-26T06:35:10","slug":"261018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/261018-afternoon-session-analysis\/","title":{"rendered":"261018 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Dollar flatten while investors keeping eyes on GDP<\/strong><\/span><\/p>\n

Dollar index was traded flat after hitting two-month highs on yesterday as investors are still waiting for the third quarter U.S. GDP data due later today. This data is considered crucial towards US dollar as it could affect the future path of U.S Federal Reserve Monetary Policy. Economist forecasted the data to come in at 3.3% which slightly lower than the previous month with 4.5%. If the GDP actual reading came in lower than expectation, it will definitely create negative sentiment toward the market and it also implies that dollar-bulls might be jeopardized. US Dollar notched down 0.03% to 96.35 as of writing. On the other hand, the pair of EUR\/USD tumbled 0.11% to 1.1365 amid European Central Bank (ECB) failed to spur the market following the conclusion of monetary policy decision on yesterday. During press conference, ECB President Mario Draghi delivered a slightly dovishness, admitting that the current economic projection contains risks that stems from Italy budget crisis and Brexit conundrum.<\/p>\n

On the commodities market, crude oil price notched down 0.18% to $66.75 per barrel although Saudi Arabia\u2019s OPEC governor said that the market may become oversupplied soon and while signaling to cut supplies in the coming months. Next, gold price plunged 0.02% to $1231.75 per troy ounce amid dollar\u2019s recovery.<\/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 Market\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 Market\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 EUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Draghi Speaks<\/p>\n

 <\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q3)<\/td>\n4.2%<\/td>\n3.3%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Oct)<\/td>\n99.0<\/td>\n99.0<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n873<\/td>\n–<\/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 higher following prior rebound from the support level at 96.30. MACD which illustrate the formation of death cross suggest the index to be traded lower in short term toward the support level at 96.30.<\/p>\n

Resistance level: 96.45, 96.55<\/p>\n

Support level: 96.30, 96.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2820. MACD which illustrate bullish momentum and formation of golden cross suggest the pair to be traded higher in short term toward the resistance level at 1.2910.<\/p>\n

Resistance level: 1.2910, 1.2955<\/p>\n

Support level: 1.2805, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior breakout from the previous support level at 1.1385. MACD which illustrate bullish momentum and formation of golden cross suggest the pair to be traded higher in short term toward the resistance level at 1.1385.<\/p>\n

Resistance level: 1.1385, 1.1430<\/p>\n

Support level: 1.1360, 1.1320<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior breakout from the previous support level at 112.20. MACD which illustrate bearish momentum and formation of death cross suggest the pair to extend its losses toward the support level at 112.05.<\/p>\n

Resistance level: 112.20, 112.45<\/p>\n

Support level: 112.05, 111.80.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout from the previous support level at 0.7045. MACD which illustrate the formation of death cross suggest the pair to extend its losses toward the support level at 0.7025.<\/p>\n

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

Support level: 0.7025, 0.6995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout from the previous support level at 0.6495. MACD which illustrate bearish momentum suggest the pair to extend its losses toward the support level at 0.6455.<\/p>\n

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

Support level: 0.6455, 0.6425<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing near the resistance level at 1.3115. MACD which illustrate the formation of golden cross suggest the pair to extend its gain after successfully breakout.<\/p>\n

Resistance level: 1.3115, 1.3185<\/p>\n

Support level: 1.3050, 1.3000<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout from the previous resistance level at 0.9980. MACD which illustrate bullish momentum and formation of golden cross suggest the pair to extend the gains toward the resistance level at 1.0010.<\/p>\n

Resistance level: 1.0010, 1.0050<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil was traded lower following prior breakout from the previous support level at 67.05. MACD which illustrate bearish momentum and formation of death cross suggest the commodity to extend its losses toward the support level at 66.10.<\/p>\n

Resistance level: 67.05, 67.45<\/p>\n

Support level: 66.10, 64.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold was traded higher following prior rebound from the support level at 1229.15. MACD which illustrate bullish momentum and formation of golden cross suggest the pair to extend its gain toward the resistance level at 1233.05.<\/p>\n

Resistance level: 1233.05, 1236.55<\/p>\n

Support level: 1229.15, 1225.75<\/p>\n","protected":false},"excerpt":{"rendered":"

26 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar flatten while investors keeping eyes on GDP Dollar index was traded flat after hitting two-month highs on yesterday as investors are still waiting for the third quarter U.S. GDP data due later today. This data is considered crucial towards US dollar as it could affect the future […]<\/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\/36376"}],"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=36376"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/36376\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=36376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=36376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=36376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}