{"id":37409,"date":"2018-11-07T05:59:34","date_gmt":"2018-11-07T05:59:34","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=37409"},"modified":"2018-11-07T06:35:53","modified_gmt":"2018-11-07T06:35:53","slug":"071118-afternoon-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/071118-afternoon-analysis\/","title":{"rendered":"071118 Afternoon Analysis"},"content":{"rendered":"

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

Dollar remains pressured amid Congress expected to split.<\/strong><\/span><\/p>\n

Dollar index was pressured against its basket of six major rival pairs during early Asian session amid election and political turmoil in US. As of writing, the dollar index fell 0.23% to 95.97 during Asian trading session. Based on the polling website FiveThirtyEight, the likelihood of the Democrats winning the House has jumped to 70 percent but Republicans are also likely to retain the Senate. A Democratic-controlled House with majority Republican Senate will cause President Trump having a hard time to introduce major new legislation and also it may pursue further investigations into Trump\u2019s affairs, causing fear and loss of confidence in the dollar. On the other hand, EUR\/USD soared 0.27% amid positive data. According to Markit, the composite index has improved to 53.1, higher than forecasted reading of 52.7. The positive reading illustrates further improvement in EU\u2019s economy while changing investor\u2019s sentiment towards bullish for the currency.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price has rebound from lows by 0.31% to $61.99 per barrel. However, its recovery remains limited amid Iran sanction waiver that has been granted 8 countries such as China, India and South Korea. On the other hand, gold price extends its gains by 0.22% to $1,229.58 a troy ounce following dollar\u2019s weakness caused by uncertainty in the mid-term election.<\/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

04:00 (8th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NZD\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 RBNZ Rate Statement<\/p>\n

05:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NZD\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 RBNZ Press Conference<\/p>\n

 <\/p>\n


\n<\/u><\/p>\n

\u00a0<\/u><\/p>\n

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
15:00<\/td>\nEUR \u2013 German Industrial Production (MoM) (Sep)<\/td>\n-0.3%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 Retail Sales (MoM) (Sep)<\/td>\n-0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nCAD \u2013 Ivey PMI (Oct)<\/td>\n50.4<\/td>\n50.9<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n3.217M<\/td>\n2.433M<\/td>\n–<\/td>\n<\/tr>\n
04:00 (8th<\/sup>)<\/td>\nNZD \u2013 RBNZ Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower following a breakout below the previous support 95.75. MACD which illustrate bearish momentum signal with death cross suggest the dollar to extend its losses towards the support level 95.40.<\/p>\n

 <\/p>\n

Resistance level: 96.15, 96.35<\/p>\n

Support level: 95.40, 95.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following a breakout above previous resistance level 1.3125. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 1.3175.<\/p>\n

 <\/p>\n

Resistance level: 1.3175, 1.3275<\/p>\n

Support level: 1.3125, 1.3080<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following breakout above the previous resistance level 1.1445. MACD which illustrate continuous bullish momentum suggest the pair to extend its gains towards the resistance level 1.1485.<\/p>\n

 <\/p>\n

Resistance level: 1.1485, 1.1540<\/p>\n

Support level: 1.1445, 1.1410<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following breakout below the previous support level 113.35. MACD which display bearish momentum with formation of death cross suggest the pair to extend its losses towards the support level 113.00.<\/p>\n

 <\/p>\n

Resistance level: 113.35, 113.60<\/p>\n

Support level: 113.00, 112.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following a breakout above the previous resistance level 0.7250. MACD which illustrate bullish signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7280.<\/p>\n

 <\/p>\n

Resistance level: 0.7280, 0.7315<\/p>\n

Support level: 0.7250, 0.7215<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level 0.6755. MACD which shows persistent bullish momentum suggests the pair to extend its gains towards resistance level 0.6785<\/p>\n

 <\/p>\n

Resistance level: 0.6785, 0.6820<\/p>\n

Support level: 0.6755, 0.6720<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following recent breakout below the previous support level 1.3115. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 1.3075.<\/p>\n

 <\/p>\n

Resistance level: 1.3115, 1.3150<\/p>\n

Support level: 1.3075, 1.3055<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower following prior breakout below previous support level 1.0025. MACD which illustrate persistent bearish signal suggest the pair to extend its losses towards the support level 0.9975.<\/p>\n

 <\/p>\n

Resistance level: 1.0025, 1.0065<\/p>\n

Support level: 0.9975, 0.9940<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from support level 61.40. MACD which bullish signal with the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 62.60.<\/p>\n

 <\/p>\n

Resistance level: 62.60, 63.90<\/p>\n

Support level: 61.40, 60.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from support level 1225.25. MACD which illustrate bullish momentum with formation of golden cross suggest the pair to extend its rebound in short term towards the resistance level 1230.60<\/p>\n

 <\/p>\n

Resistance level: 1230.60, 1237.80<\/p>\n

Support level: 1225.25, 1220.00<\/p>\n","protected":false},"excerpt":{"rendered":"

7 November 2018\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 Afternoon Session Analysis Dollar remains pressured amid Congress expected to split. Dollar index was pressured against its basket of six major rival pairs during early Asian session amid election and political turmoil in US. As of writing, the dollar index fell 0.23% to 95.97 during Asian trading session. Based on the polling […]<\/p>\n","protected":false},"author":44,"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\/37409"}],"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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=37409"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/37409\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=37409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=37409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=37409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}