{"id":39424,"date":"2018-11-27T06:26:17","date_gmt":"2018-11-27T06:26:17","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=39424"},"modified":"2018-11-27T06:26:17","modified_gmt":"2018-11-27T06:26:17","slug":"271118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/271118-afternoon-session-analysis\/","title":{"rendered":"271118 Afternoon Session Analysis"},"content":{"rendered":"

27 November 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Greenback plunged amid Trump tariff threat.<\/strong><\/span><\/p>\n

The dollar index tumbled against a basket of six major currencies after hitting two-week highs amid U.S President Donald Trump seemed to destroy the hope of a trade truce with China and intended to increase tariff on China imported goods. According to an interview conducted by Wall Street Journal, Donald Trump said he planned to move ahead with raising tariffs $200 billion on China imported goods from 10 percent to 25 percent. However, investors will still be keeping their eyes on the upcoming G20 meeting in Argentina where Donald Trump and China President Xi Jin Ping are likely to discuss about trade issues while positive outcome would exert bullish momentum toward the dollar index. As of writing, the dollar index dipped 0.05% to 96.85. On the other hand, pair of GBP\/USD notched down 0.12% to 1.2810 ahead of Parliamentary vote on the Brexit deal scheduled on 11th<\/sup> December. According to reports, economists expect that the risks for pound sterling is remain asymmetric around the UK Parliament vote. In the least optimistic situation, sterling would face huge selling pressure once the Withdrawal Agreement has been rejected by majority vote.<\/p>\n

 <\/p>\n

In the commodities market, crude oil notched down 0.29% to $51.40 per barrel amid Saudi Arabia hit a record high of oil production at between 11.1 million bpd and 11.3 million bpd in some days in November, reported by Reuters. Next, gold price notched up 0.02% to $1225.25 a troy ounce amid Dollar\u2019s weakness.<\/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 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
23:00<\/td>\nUSD \u2013 CB Consumer Confidence<\/td>\n137.9<\/td>\n135.9<\/td>\n–<\/td>\n<\/tr>\n
05:30 (28th<\/sup>)<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-1.545M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar Index was traded lower in the upward channel while currently testing near the support level at 96.85. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully breakout from the support level at 96.85.<\/p>\n

Resistance level: 97.05, 97.50<\/p>\n

Support level: 96.85, 96.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower in sideway channel following prior retracement from the resistance level at 1.2885. Due to lack of clear signal from MACD, it is suggested to wait until further signal appear such as a breakout below or rebound from the support level.<\/p>\n

Resistance level: 1.2885, 1.2935<\/p>\n

Support level: 1.2765, 1.2700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1330. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.1365.<\/p>\n

Resistance level: 1.1365, 1.1415<\/p>\n

Support level: 1.1330, 1.1270<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 113.65. MACD which illustrate bearish momentum suggest the pair to extend its losses toward the support level at 113.05.<\/p>\n

Resistance level: 113.65, 114.20<\/p>\n

Support level: 113.05, 112.30
\n\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher in the sideway channel following prior rebound from the support level at 0.7215. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 0.7265.<\/p>\n

Resistance level: 0.7265, 0.7290<\/p>\n

Support level: 0.7215, 0.7175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6755. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.6790.<\/p>\n

Resistance level: 0.6790, 0.6845<\/p>\n

Support level: 0.6755, 0.6715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3265. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 1.3225.<\/p>\n

Resistance level: 1.3265, 1.3285<\/p>\n

Support level: 1.3225, 1.3190<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower in upward channel following prior retracement from the channel\u2019s resistance level at 0.9990. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 0.9960.<\/p>\n

Resistance level: 0.9990, 1.0045<\/p>\n

Support level: 0.9960, 0.9920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil was traded lower following prior retracement from the resistance level at 51.95. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 50.35.<\/p>\n

Resistance level: 51.95, 53.20<\/p>\n

Support level: 50.35, 49.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold was traded lower in the sideway channel following prior retracement from the resistance level at 1228.15. However, MACD which illustrate diminishing bearish momentum suggest the commodity to be traded higher in short term toward the resistance level at 1228.15.<\/p>\n

Resistance level: 1228.15, 1235.65<\/p>\n

Support level: 1220.45, 1215.40<\/p>\n","protected":false},"excerpt":{"rendered":"

27 November 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Greenback plunged amid Trump tariff threat. The dollar index tumbled against a basket of six major currencies after hitting two-week highs amid U.S President Donald Trump seemed to destroy the hope of a trade truce with China and intended to increase tariff on China imported goods. According to […]<\/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\/39424"}],"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=39424"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/39424\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=39424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=39424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=39424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}