{"id":37615,"date":"2018-11-08T06:10:32","date_gmt":"2018-11-08T06:10:32","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=37615"},"modified":"2018-11-08T06:10:32","modified_gmt":"2018-11-08T06:10:32","slug":"081118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/081118-afternoon-session-analysis\/","title":{"rendered":"081118 Afternoon Session Analysis"},"content":{"rendered":"

8 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar rebound amid election\u2019s knee jerk reaction.<\/strong><\/span><\/p>\n

Greenback recouped part of its losses against a basket of six major currencies after hitting two week low amid market participants digested the bearish sentiment from U.S midterm election results. The election result were as the market expected where there is a split of Congress with Democratic winning the control of House Representatives and Republicans managed to retain the majority seats in Senate. Thus, Dollar index received strong selling pressures from the market as the likelihood of further fiscal stimulus faded. Besides, Democrats who surged to power in the house are prepare to launch an investigation into Donald Trump regarding to Trump\u2019s long hidden tax returns, scandals between Russia and Trump\u2019s campaign team in 2016 election and so on. On the other side, dollar rebound as investors start shifting away their focus from post-election result to the Fed\u2019s monetary policy which will due on later today. As of now, the positive economic outlook growth in US has caused the Fed to raise their interest rate three times this year and Fed signaled a rate of rise in December with two more hikes by mid of 2019. As of writing, Dollar index spiked 0.25% to 96.00. On the other hand, pair of NZD\/USD remained flat at 0.6780 amid RBNZ governor decided to cement their interest rate at 1.75% as economist forecast despite New Zealand is undergoing acceleration of inflation rate and low unemployment rates now.<\/p>\n

 <\/p>\n

In the commodities market, crude oil surged 0.18% to $61.65 per barrel amid OPEC and its allies may initiate output curbs next year in order to prevent global oversupply. On the other hand, gold tumbled 0.23% to 1223.55 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

17:00\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 Economic Bulletin<\/p>\n

Tentative\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 EU Economic Forecasts<\/p>\n

03:00 (9th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Statement<\/p>\n

 <\/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 Trade Balance (Sep)<\/td>\n18.3B<\/td>\n18.0B<\/td>\n–<\/td>\n<\/tr>\n
21:15<\/td>\nCAD \u2013 Housing Starts (Oct)<\/td>\n188.7K<\/td>\n200.0K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n214K<\/td>\n214K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 New Housing Price Index (MoM) (Sep)<\/td>\n0.0%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
03:00 (9th<\/sup>)<\/td>\nUSD \u2013 Fed Interest Rate Decision<\/td>\n2.25%<\/td>\n2.25%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing near the resistance level at 96.00. MACD which illustrate starting bullish momentum and the formation of golden cross suggest the index to extend its gain after successfully breakout the resistance level at 96.00.<\/p>\n

Resistance level: 96.00, 96.15<\/p>\n

Support level: 95.70, 95.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3170. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 1.3080.<\/p>\n

Resistance level: 1.3170, 1.3250<\/p>\n

Support level: 1.3080, 1.3025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1:<\/strong> EURUSD was traded lower while currently testing near the upward trend line at 1.1425. \u00a0However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 1.1445.<\/p>\n

Resistance level: 1.1445, 1.1465<\/p>\n

Support level: 1.1410, 1.1370<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance level at 113.70. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout the resistance level at 113.70.<\/p>\n

Resistance level: 113.70, 114.00<\/p>\n

Support level: 113.40, 113.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7295. However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 0.7295.<\/p>\n

Resistance level: 0.7295, 0.7310<\/p>\n

Support level: 0.7260, 0.7235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher while currently testing near the resistance level at 0.6790. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gain after successfully breakout the resistance level at 0.6790.<\/p>\n

Resistance level: 0.6790, 0.6810<\/p>\n

Support level: 0.6755, 0.6730<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3120. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.3100.<\/p>\n

Resistance level: 1.3120, 1.3140<\/p>\n

Support level: 1.3100, 1.3075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level at 1.0020. 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 1.0020.<\/p>\n

Resistance level: 1.0020, 1.0060<\/p>\n

Support level: 0.9970, 0.9940<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil was traded higher following prior rebound from the support level at 61.25. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the commodity to extend its gains toward the resistance level at 62.60.<\/p>\n

Resistance level: 62.60, 63.75<\/p>\n

Support level: 61.25, 60.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded lower following prior breakout from the previous support level at 1228.45. MACD which illustrate bearish momentum suggest the commodity to extend its losses toward the support level at 1220.80.<\/p>\n

Resistance level: 1229.45, 1234.65<\/p>\n

Support level: 1220.80, 1215.15<\/p>\n","protected":false},"excerpt":{"rendered":"

8 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 Afternoon Session Analysis   Dollar rebound amid election\u2019s knee jerk reaction. Greenback recouped part of its losses against a basket of six major currencies after hitting two week low amid market participants digested the bearish sentiment from U.S midterm election results. The election result were as the market expected where there is […]<\/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\/37615"}],"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=37615"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/37615\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=37615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=37615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=37615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}