{"id":37123,"date":"2018-11-02T07:07:15","date_gmt":"2018-11-02T07:07:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=37123"},"modified":"2018-11-02T07:26:12","modified_gmt":"2018-11-02T07:26:12","slug":"021118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021118-afternoon-session-analysis\/","title":{"rendered":"021118 Afternoon Session Analysis"},"content":{"rendered":"

2 November 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar spiked despite downbeat data.<\/strong><\/span><\/p>\n

The dollar index surged against a basket of six major currencies after slumping to one-week low amid disappointing ISM Manufacturing PMI data been released yesterday. According to Institute of Supply Management, Manufacturing Purchasing Managers index (PMI) came in at 57.7, lower than economist forecast level of 59.0. However, the demand is still remains moderately strong and backlogs orders has grown faster than they did in September, ISM emphasized. It depicts that the economic outlook of United States is still remain resilient. Meanwhile, investor eyes on busy day ahead, with key data scheduled for release out including October Non-Farm Payroll, Unemployment Rate along with US Average Hourly Earnings. NFP and US Average Hourly Earnings will remain as the key driver on the data front toward US Dollar. On the other hand, Sterling Pound rally on refreshed Brexit hopes yesterday as UK and EU has reached a milestone agreement where EU agreed to allow British financial services companies access to Europe market after Brexit. As of writing, Dollar index appreciated by 0.02% to 96.00 while GBP\/USD tumbled 0.11% to 1.3000.<\/p>\n

 <\/p>\n

In the commodities market, crude oil notched up 0.35% to $63.70 per barrel amid US sanctions against Iran petroleum exports on this coming Sunday. Next, gold dipped 0.05% to $1232.40 per troy ounce amid Dollar recovered part of its losses.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\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 Manufacturing PMI (Oct)<\/td>\n52.3<\/td>\n52.3<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Construction PMI (Oct)<\/td>\n52.1<\/td>\n52.0<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Oct)<\/td>\n0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Oct)<\/td>\n134K<\/td>\n193K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unemployment Rate (Oct)<\/td>\n3.7%<\/td>\n3.7%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Employment Change (Oct)<\/td>\n63.3K<\/td>\n12.7K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Sep)<\/td>\n2.3%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
01:00 (3rd<\/sup>)<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n875<\/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 trade lower following prior retracement from the resistance level at 96.15. However, MACD which illustrate bullish momentum and the formation of golden cross suggest the index to be traded higher in short term toward the resistance level at 96.15.<\/p>\n

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

Support level: 95.95, 95.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3015. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 1.2960.<\/p>\n

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

Support level: 1.2960, 1.2930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher while currently testing near the resistance level at 1.1410. MACD which illustrate diminishing of bearish momentum suggest the pair to extend its gain after successfully breakout the resistance level at 1.1410.<\/p>\n

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

Support level: 1.1390, 1.1370<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level 112.65. MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher toward the resistance level at 113.25.<\/p>\n

Resistance level: 113.25, 113.55<\/p>\n

Support level: 112.65, 112.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was trade higher while currently testing near the resistance level at 0.7235. 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 0.7235.<\/p>\n

Resistance level: 0.7235, 0.7275<\/p>\n

Support level: 0.7205, 0.7175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing near the resistance level at 0.6680. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout the resistance level at 0.6680.<\/p>\n

Resistance level: 0.6680, 0.6710<\/p>\n

Support level: 0.6640, 0.6610<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was trade lower following prior breakout from the previous support level at 1.3080. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses after breaking the upward trend line.<\/p>\n

Resistance level: 1.3080, 1.3105<\/p>\n

Support level: 1.3035, 1.2995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support level at 1.0010. MACD which illustrate bearish momentum and formation of death cross suggest the pair to extend its losses after successfully breakout the support level at 1.0010.<\/p>\n

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

Support level: 1.0010, 0.9965<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil was traded higher following prior rebound from the support level at 63.25. MACD which illustrate bullish momentum and formation of golden cross suggest the commodity to extend its gain toward the resistance level at 64.20.<\/p>\n

Resistance level: 64.20, 64.85<\/p>\n

Support level: 63.25, 62.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded higher following prior breakout from the previous resistance level at 1230.45. MACD which illustrate bullish momentum and the formation of golden cross suggest the commodity to extend its gain toward the resistance level at 1237.65.<\/p>\n

Resistance level: 1237.65, 1247.50<\/p>\n

Support level: 1230.45, 1215.50<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

2 November 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar spiked despite downbeat data. The dollar index surged against a basket of six major currencies after slumping to one-week low amid disappointing ISM Manufacturing PMI data been released yesterday. According to Institute of Supply Management, Manufacturing Purchasing Managers index (PMI) came in at 57.7, lower than economist […]<\/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\/37123"}],"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=37123"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/37123\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=37123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=37123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=37123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}