{"id":38582,"date":"2018-11-19T05:41:37","date_gmt":"2018-11-19T05:41:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=38582"},"modified":"2018-11-19T05:57:37","modified_gmt":"2018-11-19T05:57:37","slug":"191118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/191118-afternoon-session-analysis\/","title":{"rendered":"191118 Afternoon Session Analysis"},"content":{"rendered":"

19 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 under pressure amid global outlook concerns.<\/strong><\/span><\/p>\n

Dollar lower against its basket of six major pairs on Monday amid concerns from Fed officials regarding on the global economic outlook. On Friday, Fed\u2019s new vice chairman has warned and cautioned about a slowdown in global growth, emphasize that \u201cneutrality\u201d in terms of monetary policy is going to be relevant for the future outlook for the US economy. Besides that, Federal Reserve Bank of Dallas Robert Kaplan also stated in an interview with Fox Business that he also saw a growth slowdown in Europe and China, prompting traders to reassess the pace of future U.S interest rate hike. Dollar index slumped 0.03% to 96.30 at the time of writing. On the other hand, GBPUSD was down 0.04% to 1.2831 as of writing amid fractured political backdrop within the UK where various cabinet minister has resigned and UK PM Theresa May could possibly face a vote of no confidence this week while the current Brexit draft agreement is unlikely to passed by the UK Parliament.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price has rebound from lows by 0.58% to $57.32 per barrel amid traders have expected top exporter Saudi Arabia to urge OPEC to reduce supply about 1 million to 1.4 million bpd of supply to adjust global demand slowdown toward year-end. Moreover, gold price gains 0.05% to $1,220.15 a troy ounce following dollar\u2019s weakness amid growth concerns.<\/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

23:45\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Member Williams Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n


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

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

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

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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, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level 1.2840. Although MACD illustrate bullish momentum with the formation of golden cross, a breakout above the resistance level 1.2840 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1.2840, 1.3025<\/p>\n

Support level: 1.2700, 1.2585<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following recent retracement from the resistance level 1.1420. MACD which display diminishing bullish momentum suggest the pair to extend its retracements towards the support level 1.1305.<\/p>\n

 <\/p>\n

Resistance level: 1.1420, 1.1485<\/p>\n

Support level: 1.1305, 1.1225<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level 112.70. MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher as a short-term technical correction towards the resistance level 113.40.<\/p>\n

 <\/p>\n

Resistance level: 113.40, 114.15<\/p>\n

Support level: 112.70, 112.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level 0.7335. MACD which display bearish momentum suggest the pair to extend its retracement towards the support level 0.7295.<\/p>\n

 <\/p>\n

Resistance level: 0.7335, 0.7435<\/p>\n

Support level: 0.7295, 0.7235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior recent retracement from the resistance level 0.6855. MACD which illustrate bearish momentum with negative divergence suggest the pair to extend its retracement towards the support level 0.6790.<\/p>\n

 <\/p>\n

Resistance level: 0.6855, 0.6925<\/p>\n

Support level: 0.6790, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level 1.3150. MACD which illustrate bullish momentum suggest the pair to extend its gains towards the resistance level 1.3260.<\/p>\n

 <\/p>\n

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

Support level: 1.3150, 1.3065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level 1.0020. MACD which illustrate diminishing bearish momentum suggest the pair to undergo a short-term technical correction towards the current resistance level 1.0020.<\/p>\n

 <\/p>\n

Resistance level: 1.0020, 1.0080<\/p>\n

Support level: 0.9950, 0.9860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following recent rebound from the support level 55.00. MACD which display continuous bullish momentum suggest the pair to extend its gains 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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded lower following recent retracement from the resistance level 1222.50. MACD which illustrate bearish momentum suggest the pair to extend its retracement towards the support level 1213.50.<\/p>\n

 <\/p>\n

Resistance level: 1222.50, 1230.75<\/p>\n

Support level: 1213.50, 1204.00<\/p>\n

 <\/p>\n

Highlighted economy data and events for the week: <\/u><\/strong>November 19 \u2013 23 \u00a0<\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, November 19<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

N\/A<\/p>\n

\u00a0<\/strong><\/p>\n

Events<\/strong><\/p>\n

USD \u2013 <\/strong>FOMC Member Williams Speaks<\/p>\n

 <\/td>\n<\/tr>\n

Tuesday, November 20<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

USD \u2013 <\/strong>Building Permits (Oct)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

AUD \u2013 <\/strong>RBA Meeting Minutes<\/p>\n

GBP \u2013 <\/strong>BoE Gov Carney Speaks<\/p>\n

GBP<\/strong> \u2013 Inflation Report Hearings<\/td>\n<\/tr>\n

Wednesday, November 21<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

USD \u2013 <\/strong>Core Durable Goods Order (MoM) (Oct)<\/p>\n

USD \u2013 <\/strong>Existing Home Sales (Oct)<\/p>\n

CrudeOIL \u2013 <\/strong>API Weekly Crude Oil Stock<\/p>\n

CrudeOIL \u2013 <\/strong>Crude Oil Inventories<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

CAD \u2013 <\/strong>BoC Gov Council Member Wilkins Speaks<\/p>\n

 <\/td>\n<\/tr>\n

Thursday, <\/strong>November 22<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

Data<\/strong><\/p>\n

JPY \u2013 <\/strong>National Core CPI (YoY) (Oct)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

EUR \u2013 <\/strong>ECB Publishes Account of Monetary Policy Meeting<\/p>\n

 <\/td>\n<\/tr>\n

\u00a0<\/strong><\/p>\n

Friday, November 23<\/strong><\/p>\n

\u00a0<\/strong><\/td>\n

 <\/p>\n

Data<\/strong><\/p>\n

EUR \u2013 <\/strong>German GDP (QoQ) (Q3)<\/p>\n

EUR \u2013 <\/strong>German Manufacturing PMI (Nov)<\/p>\n

CAD \u2013 <\/strong>Core CPI (MoM) (Oct)<\/p>\n

CAD \u2013 <\/strong>Core Retail Sales (MoM) (Sep)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

GBP \u2013 <\/strong>BoE MPC Member Saunders Speaks<\/p>\n

 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

19 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 under pressure amid global outlook concerns. Dollar lower against its basket of six major pairs on Monday amid concerns from Fed officials regarding on the global economic outlook. On Friday, Fed\u2019s new vice chairman has warned and cautioned about a slowdown in global growth, emphasize that \u201cneutrality\u201d […]<\/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\/38582"}],"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=38582"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/38582\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=38582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=38582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=38582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}