{"id":38181,"date":"2018-11-14T06:39:10","date_gmt":"2018-11-14T06:39:10","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=38181"},"modified":"2018-11-14T06:39:10","modified_gmt":"2018-11-14T06:39:10","slug":"141118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/141118-afternoon-session-analysis\/","title":{"rendered":"141118 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Dollar sags amid Brexit optimism.<\/strong><\/span><\/p>\n

US dollar remained subdued amid reports on European Union and Brexit have struck a draft on Brexit withdrawal agreement which improved risk sentiment around risky assets. UK Prime Minister Theresa May has prepared a preliminary text and will present it to her senior ministers on Wednesday. However, the draft will be a challenge for Theresa May to seal the deal amid hard Brexit supporters have accused Theresa May to surrender to EU demands. Meanwhile, markets will shift their focus on today meeting where British cabinet will meet to consider the draft withdrawal agreement. Dollar index slips 0.16% to 96.95 as of writing. On the other hand, AUD\/USD remains steady amid uptick data in Wage Price Index. According to Australia Bureau of Statistics, the index ticked higher to 0.6% compared to previous print of 0.5%. The data which have illustrate Australia job markets have been strengthening, thus improving investors confidence on the Aussie. As of writing, AUDUSD inched higher 0.03% to 0.7215.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price recovers 0.38% to $55.42 per barrel after a continuous collapse as Trump pressure on OPEC continues to erase sentiment in oil markets. Moreover, gold price rebound 0.04% to $1202.30 amid investors taking gains on 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

 <\/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

07:00 (15th<\/sup>)\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell 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
15:00<\/td>\nEUR \u2013 German GDP (QoQ) (Q3)<\/td>\n0.5%<\/td>\n-0.3%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 CPI (YoY) (Oct)<\/td>\n2.4%<\/td>\n2.5%<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 GDP (QoQ) (Q3)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core CPI (MoM) (Oct)<\/td>\n0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
05:30 (15th<\/sup>)<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n7.830M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level 97.45. MACD which illustrate bearish signal with the formation of death cross suggest the pair extend its losses towards the support level 96.85.<\/p>\n

 <\/p>\n

Resistance level: 97.45, 98.40<\/p>\n

Support level: 96.85, 96.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level 1.3020. Although MACD which display bullish signal with formation of golden cross, a breakout is above the resistance level 1.3020 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1.3020, 1.3155<\/p>\n

Support level: 1.2840, 1.2700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following recent retracement from the resistance level 1.1305. Although MACD which illustrate bullish signal with the formation of golden cross, a breakout above the resistance level 1.1305 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1.1305, 1.1365<\/p>\n

Support level: 1.1225, 1.1120<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 114.15. MACD which illustrate bearish momentum signal suggest the pair to extend its retracement towards the support level 113.55.<\/p>\n

 <\/p>\n

Resistance level: 114.15, 114.55<\/p>\n

Support level: 113.55, 112.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level 0.7235. Although MACD which illustrate bullish bias with the formation of golden cross, a breakout above the resistance level 0.7235 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 0.7235, 0.7290<\/p>\n

Support level: 0.7170, 0.7115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6700. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.6790.<\/p>\n

 <\/p>\n

Resistance level: 0.6790, 0.6855<\/p>\n

Support level: 0.6700, 0.6610<\/p>\n

 <\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing near the resistance level 1.3260. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to experience a technical correction in short-term towards the support level 1.3165.<\/p>\n

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Resistance level: 1.3260, 1.3360<\/p>\n

Support level: 1.3165, 1.3065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following recent breakout below the previous support level 1.0080. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses towards the support level 1.0020.<\/p>\n

 <\/p>\n

Resistance level: 1.0080, 1.0130<\/p>\n

Support level: 1.0020, 0.9970<\/p>\n

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil was traded lower while currently testing the support level 55.00. MACD which illustrate diminishing bearish momentum suggest the commodity to experience a short term technical correction towards the resistance level 58.75.<\/p>\n

 <\/p>\n

Resistance level: 58.75, 62.05<\/p>\n

Support level: 55.00, 52.70<\/p>\n

 <\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1197.50. MACD which illustrate bullish momentum with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 1212.50.<\/p>\n

 <\/p>\n

Resistance level: 1212.75, 1230.75<\/p>\n

Support level: 1197.50, 1184.50<\/p>\n","protected":false},"excerpt":{"rendered":"

14 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 Afternoon Session Analysis   Dollar sags amid Brexit optimism. US dollar remained subdued amid reports on European Union and Brexit have struck a draft on Brexit withdrawal agreement which improved risk sentiment around risky assets. UK Prime Minister Theresa May has prepared a preliminary text and will present it to her senior […]<\/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\/38181"}],"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=38181"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/38181\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=38181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=38181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=38181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}