{"id":36584,"date":"2018-10-29T07:16:24","date_gmt":"2018-10-29T07:16:24","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=36584"},"modified":"2018-10-29T07:16:24","modified_gmt":"2018-10-29T07:16:24","slug":"291018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/291018-afternoon-session-analysis\/","title":{"rendered":"291018 Afternoon Session Analysis"},"content":{"rendered":"

29 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 rebound from Friday losses.<\/strong><\/span><\/p>\n

US dollar managed to recover part of its losses against a basket of its major currencies on Monday after tumbling last Friday due to market dissatisfaction towards US GDP data. Last Friday, although the United States GDP data showed that the overall economic growth slowed less than expected with 3.5% versus forecast of 3.3%. However, economist remained dissatisfied with the results as it indicates slower economic pace ahead. Nevertheless, rising trade tension between US and China while US Federal Reserve which continues its plan to tighten monetary policy has cushioned the greenback as one of the safe haven assets. As of writing, the dollar index rose 0.12% to 96.20. On the other hand, the pair of GBP\/USD was traded flat while market participants keep an eye on the latest annual speech from the UK\u2019s Chancellor of the Exchequer later today. Traders are tensing ahead of the UK\u2019s budgetary outlook in case Exchequer Chancellor Phillip Hammond plays too much defensive cards and planned funding solutions in the face of a potential no-deal Brexit. As of writing, sterling pound rose 0.01% to 1.2830 against U.S Dollar.<\/p>\n

 <\/p>\n

On the commodities market, crude oil price hover at $67.50 per barrel while investor eye on the imminent US sanctions against Iran which will take into effect this coming Sunday. Next, gold price dipped 0.03% to $1233.05 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\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

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Autumn Budget<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy 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 Core PCE Price Index (MoM) (Sep)<\/td>\n0.0%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Income (MoM) (Sep)<\/td>\n0.3%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Spending (MoM) (Sep)<\/td>\n0.3%<\/td>\n0.4%<\/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 breakout from the resistance level at 96.15. MACD which illustrate diminishing of bearish momentum suggest the index to extend its gains toward the resistance level at 96.30.<\/p>\n

Resistance level: 96.30, 96.45<\/p>\n

Support level: 96.15, 95.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2775. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to be traded higher toward the resistance level at 1.2280.<\/p>\n

Resistance level: 1.2880, 1.2955<\/p>\n

Support level: 1.2775, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1410. MACD which illustrate diminishing of bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 1.1385.<\/p>\n

Resistance level: 1.1410, 1.1430<\/p>\n

Support level: 1.1385, 1.1360<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level at 111.75. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 112.05.<\/p>\n

Resistance level: 112.05, 112.20<\/p>\n

Support level: 111.80, 111.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance level at 0.7100. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after a successful breakout from 0.7100.<\/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 higher following prior breakout from the previous resistance level at 0.6535. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 0.6560.<\/p>\n

Resistance level: 0.6560, 0.6590<\/p>\n

Support level: 0.6535, 0.6510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded higher prior following rebound from the support level at 1.3070. MACD which illustrate diminishing of bearish momentum suggest the pair to extend its gains after successfully breakout from 1.3110.<\/p>\n

Resistance level: 1.3110, 1.3145<\/p>\n

Support level: 1.3070, 1.2995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level at 0.9980. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to be traded lower toward the support level at 0.9970.<\/p>\n

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

Support level: 0.9970, 0.9925<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded lower following prior retracement from the resistance level at 67.70. MACD which illustrate diminishing of bullish momentum suggest the pair to be traded lower toward the support level at 66.10.<\/p>\n

Resistance level: 67.70, 68.50<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold was traded lower following prior retracement from the resistance level at 1234.85. MACD which illustrate bearish momentum suggest the commodity to extend its losses toward the support level at 1231.10.<\/p>\n

Resistance level: 1234.85, 1237.50<\/p>\n

Support level: 1231.10, 1227.55<\/p>\n

 <\/p>\n

Highlighted economy data and events for the week: <\/u><\/strong>October 29 \u2013 November 2\u00a0\u00a0\u00a0 <\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, October 29<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

USD \u2013 <\/strong>Core PCE Price Index (MoM) (Sep)<\/p>\n

USD<\/strong> – Personal Income (MoM) (Sep)<\/p>\n

USD<\/strong> – Personal Spending (MoM) (Sep)<\/p>\n

Events<\/strong><\/p>\n

GBP \u2013 <\/strong>Autumn Budget<\/p>\n

 <\/td>\n<\/tr>\n

Tuesday, October 30<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

EUR \u2013 <\/strong>German Unemployment Change (Oct)<\/p>\n

EUR<\/strong> \u2013 GDP (QoQ)<\/p>\n

EUR<\/strong> \u2013 GDP (YoY)<\/p>\n

USD<\/strong> \u2013 CB Consumer Confidence (Oct)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

N\/A<\/strong><\/td>\n<\/tr>\n

Wednesday, October 31<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

AUD \u2013 <\/strong>CPI (QoQ) (Q3)<\/p>\n

CNY \u2013 <\/strong>Manufacturing PMI (Oct)<\/p>\n

EUR \u2013 <\/strong>CPI (YoY) (Oct)<\/p>\n

USD \u2013 <\/strong>ADP Nonfarm Employment Change (Oct)<\/p>\n

CAD \u2013 <\/strong>GDP (MoM) (Aug)<\/p>\n

CrudeOIL<\/strong> \u2013 Crude Oil Inventories<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

CAD \u2013 <\/strong>BoC Gov Poloz Speaks<\/p>\n

JPY \u2013 <\/strong>BoJ Press Conference
\nJPY \u2013<\/strong> BoJ Outlook Report (YoY)<\/p>\n

 <\/td>\n<\/tr>\n

Thursday, <\/strong>November 1<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

Data<\/strong><\/p>\n

CNY \u2013 <\/strong>Caixin Manufacturing PMI (Oct)<\/p>\n

GBP \u2013 <\/strong>Manufacturing PMI (Oct)<\/p>\n

GBP \u2013 <\/strong>BoE Interest Rate Decision (Nov)<\/p>\n

USD \u2013 <\/strong>ISM Manufacturing PMI (Oct)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

CAD \u2013 <\/strong>BoC Gov Poloz Speaks<\/p>\n

GBP \u2013 <\/strong>BoE Inflation Report<\/p>\n

 <\/td>\n<\/tr>\n

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

Friday, November 2<\/strong><\/p>\n

\u00a0<\/strong><\/td>\n

 <\/p>\n

Data<\/strong><\/p>\n

AUD \u2013 <\/strong>Retail Sales (MoM) (Sep)<\/p>\n

EUR<\/strong> \u2013 German Manufacturing PMI (Oct)<\/p>\n

GBP \u2013 <\/strong>Construction PMI (Oct)<\/p>\n

USD \u2013 <\/strong>Nonfarm Payrolls (Oct)<\/p>\n

USD \u2013 <\/strong>Unemployment Rate (Oct)<\/p>\n

CAD \u2013 <\/strong>Employment Change (Oct)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

29 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar rebound from Friday losses. US dollar managed to recover part of its losses against a basket of its major currencies on Monday after tumbling last Friday due to market dissatisfaction towards US GDP data. Last Friday, although the United States GDP data showed that the overall economic […]<\/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\/36584"}],"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=36584"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/36584\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=36584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=36584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=36584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}