{"id":36702,"date":"2018-10-30T06:35:40","date_gmt":"2018-10-30T06:35:40","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=36702"},"modified":"2018-10-30T06:50:51","modified_gmt":"2018-10-30T06:50:51","slug":"301018-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/301018-afternoon-session-analysis\/","title":{"rendered":"301018 Afternoon Session Analysis"},"content":{"rendered":"

30 October 2018\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 surged, supported by safe haven bid<\/strong><\/span><\/p>\n

Dollar index rose against its six major peers on Tuesday amid rising trade tensions and fears of slowdown in global economic growth, caused investors to shy away from risky assets and cushioned the greenback as one of the safe haven assets. According to Bloomberg, United States is preparing to announce tariffs on the remaining Chinese imports by early December if the talk on next month between presidents Donald Trump and Xi Jin Ping fail to resolve trade issue between both nations. In addition, the data of Core PCE Price Index and Personal Spending which announced on yesterday came in at 0.2% and 0.4% respectively has triggered a wave of bullish momentum toward US Dollar as it portrays resilient consumer spending in the United States. As of writing, US Dollar rose 0.10% to 96.40. On the other hand, the pair of GBP\/USD notched up 0.11% to 1.2805 amid the announcement of Office for Budget Responsibility (OBR) escalating its growth forecast from 1.3% to 1.6% for 2019 and predicting that UK will have a lower deficit of 1.4% in the coming year. This announcement successfully generated strong \u2018driving force\u2019 toward the sterling pound and was traded higher since Asian session.<\/p>\n

 <\/p>\n

On the commodities market, crude oil price rose 0.75% to $67.20 per barrel amid while investor eyes on the US sanctions against Iran which take into effect on 4th<\/sup> of November.\u00a0 Next, gold price dipped 0.15% to $1227.40 a troy ounce as it depressed by higher demand of US Dollar.<\/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

03:30\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 BoC Gov Poloz Speaks<\/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
16:55<\/td>\nEUR \u2013 German Unemployment Change (Oct)<\/td>\n-23K<\/td>\n-12K<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 GDP (QoQ)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
21:00<\/td>\nEUR \u2013 German CPI (MoM) (Oct)<\/td>\n0.4%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (Oct)<\/td>\n138.4<\/td>\n136.0<\/td>\n–<\/td>\n<\/tr>\n
04:30 \uff0831st<\/sup>\uff09<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n9.880M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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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 diminishing of bullish momentum 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 higher following prior rebound from the support level at 1.2790. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.2835.<\/p>\n

Resistance level: 1.2835, 1.2875.<\/p>\n

Support level: 1.2790, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1370. MACD which illustrate starting bullish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.1390.<\/p>\n

Resistance level: 1.1390, 1.1410<\/p>\n

Support level: 1.1370, 1.1335<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout from the previous resistance level at 112.50. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 112.80.<\/p>\n

Resistance level: 112.80, 113.05<\/p>\n

Support level: 112.50, 112.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior breakout from the previous resistance level at 0.7075. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 0.7105.<\/p>\n

Resistance level: 0.7105, 0.7140<\/p>\n

Support level: 0.7075, 0.7055<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher while currently testing near the resistance level at 0.6550. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gain after successfully breakout the resistance level at 0.6550.<\/p>\n

Resistance level: 0.6550, 0.6565<\/p>\n

Support level: 0.6535, 0.6520<\/p>\n

 <\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3135. MACD which illustrate diminishing of bullish momentum suggest the pair to extend its losses toward the support level at 1.3080.<\/p>\n

Resistance level: 1.3135, 1.3185<\/p>\n

Support level: 1.3080, 1.3015<\/p>\n

 <\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout from the previous resistance level at 1.0005. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.0025.<\/p>\n

Resistance level: 1.0025, 1.0050<\/p>\n

Support level: 1.0005, 0.9970<\/p>\n

 <\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil was higher while currently testing near the resistance level at 67.15. MACD which illustrate starting bullish momentum and the formation of golden cross suggest the commodity to extend its gain after successfully breakout the resistance level at 67.15.<\/p>\n

Resistance level: 67.15, 67.70<\/p>\n

Support level: 66.60, 66.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded lower prior following breakout from the previous support level at 1229.40. MACD which illustrate bearish momentum and formation of death cross suggest the commodity to extend its losses toward the support level at 1221.35.<\/p>\n

Resistance level: 1229.40, 1230.05<\/p>\n

Support level: 1221.35, 1208.95<\/p>\n","protected":false},"excerpt":{"rendered":"

30 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar surged, supported by safe haven bid Dollar index rose against its six major peers on Tuesday amid rising trade tensions and fears of slowdown in global economic growth, caused investors to shy away from risky assets and cushioned the greenback as one of the safe haven assets. […]<\/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\/36702"}],"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=36702"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/36702\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=36702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=36702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=36702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}