{"id":38723,"date":"2018-11-20T07:26:11","date_gmt":"2018-11-20T07:26:11","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=38723"},"modified":"2018-11-20T07:26:11","modified_gmt":"2018-11-20T07:26:11","slug":"201118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/201118-afternoon-session-analysis\/","title":{"rendered":"201118 Afternoon Session Analysis"},"content":{"rendered":"

20 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

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Dollar testing 96.00 support while investors awaits Building Permits data.<\/strong><\/p>\n

Dollar index notched higher by 0.03% to 96.05 while currently testing its 6th<\/sup> November support at 96.00 while market remains quiet prior to European trading session as investors are keeping their eyes on tonight\u2019s Building Permits data. The data is a measurement of the number of demands for housing market, thus a higher reading indicates higher wages and more job opportunities. In other news, pair of GBP\/USD slipped by 0.02% to 1.2850 while the pound remained under pressure as UK Prime Minister Theresa May is still struggling to attain approval for her draft from the Parliament by this week. May faces further pressure from her homeland where chances for a no-confidence vote are high if she fails to get the approval.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price remained flat since Asian trading session at $57.10 per barrel as investors await further sentiment from tomorrow\u2019s Crude Oil Inventories report from the Energy Information Administration (EIA) due tomorrow. On the other hand, gold price rebound from lower levels, edging up by 0.15% to $1223.50 a troy ounce amid market uncertainties.<\/p>\n

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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

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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

18:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoE Gov Carney Speaks<\/p>\n

18:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Inflation Report Hearings<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Building Permits (Oct)<\/td>\n1.270M<\/td>\n1.267M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

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

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing near the support level 96.00. MACD which illustrate diminishing bearish momentum suggest dollar to rebound from the support level as a short-term technical correction.<\/p>\n

 <\/p>\n

Resistance level: 96.20, 96.60<\/p>\n

Support level: 96.00, 95.70<\/p>\n

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\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat while currently testing the resistance level 1.2855. MACD which display bullish signal suggest the pair to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2855, 1.2905<\/p>\n

Support level: 1.2800, 1.2740<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing near the support level at 1.1440. MACD which illustrate diminished bullish momentum suggest the pair to be traded lower after a breakout below the support level.<\/p>\n

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Resistance level: 1.1490, 1.1540<\/p>\n

Support level: 1.1440, 1.1390<\/p>\n

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level 112.40. MACD which display starting bullish momentum suggest the pair to extend its rebound towards the resistance level 112.75.<\/p>\n

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Resistance level: 112.75, 113.05<\/p>\n

Support level: 112.40, 111.95<\/p>\n

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\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the support level 0.7265. MACD which display starting bullish momentum suggest the pair to extend its rebound towards the resistance level at 0.7290.<\/p>\n

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Resistance level: 0.7290, 0.7315<\/p>\n

Support level: 0.7265, 0.7240<\/p>\n

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level 0.6845. MACD which display diminished bearish momentum suggest the pair to extend its gains after a breakout above the resistance level.<\/p>\n

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Resistance level: 0.6845, 0.6905<\/p>\n

Support level: 0.6795, 0.6755<\/p>\n

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\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior breakout below previous support level 1.3180. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the support level 1.3145.<\/p>\n

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Resistance level: 1.3180, 1.3210<\/p>\n

Support level: 1.3145, 1.3115<\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support level 0.9920. MACD which display persistent bearish momentum suggest the pair to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9945, 0.9990<\/p>\n

Support level: 0.9920, 0.9865<\/p>\n

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\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remained traded in a sideway channel after retracing from the resistance level 57.45. MACD which illustrate starting bearish momentum suggest the commodity to extend its retracement towards the bottom level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 57.45, 59.20<\/p>\n

Support level: 55.90, 54.20<\/p>\n

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\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold was traded higher following prior rebound from the support level 1221.10. MACD which display starting bullish momentum suggest the commodity to extend its rebound towards the resistance level 1225.50.<\/p>\n

 <\/p>\n

Resistance level: 1225.50, 1231.00<\/p>\n

Support level: 1211.10, 1216.80<\/p>\n

 <\/p>\n

 <\/p>\n

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

20 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 testing 96.00 support while investors awaits Building Permits data. Dollar index notched higher by 0.03% to 96.05 while currently testing its 6th November support at 96.00 while market remains quiet prior to European trading session as investors are keeping their eyes on tonight\u2019s Building Permits data. The […]<\/p>\n","protected":false},"author":20,"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\/38723"}],"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\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=38723"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/38723\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=38723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=38723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=38723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}