{"id":39697,"date":"2018-11-29T05:57:38","date_gmt":"2018-11-29T05:57:38","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=39697"},"modified":"2018-11-29T06:19:13","modified_gmt":"2018-11-29T06:19:13","slug":"291118-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/291118-afternoon-session-analysis\/","title":{"rendered":"291118 Afternoon Session Analysis"},"content":{"rendered":"

29 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 slumped amid US escalating trade war plans.<\/strong><\/span><\/p>\n

Dollar downed against its basket of six major pairs amid concerns from US President Donald Trump to propose tariff in automobile industry to protect its nation\u2019s interest. According to news resource, US President Donald Trump has announced on Wednesday he is exploring new tariff in automobile industry as a solution to promote domestic production and also protect jobs. The auto tariff would further worsen its trade relations with China and also escalate trade tensions with more countries, such as Japan which is a major automobile exporter in a global economy. Besides that, dollar sentiment was further pressured by Fed Powell\u2019s dovish statement on early Thursday. Dollar index fell 0.07% to 96.57 as of writing. Meanwhile, GBPUSD rose 0.15% to 1.2845 at the time of writing amid optimism from BoE\u2019s Governor Mark Carney over Brexit uncertainty. According to news, BoE Governor Mark Carney has reassured that BoE is fully prepared regardless of Brexit outcome and stated that it has \u201ccontingency plans in place to support market functioning if necessary.\u201d<\/p>\n

 <\/p>\n

As for commodities market, crude oil price ticked higher by 0.72% to $50.63 per barrel amid market optimism in G20 meeting trade talk could improve crude oil\u2019s demand outlook in the global economy despite increase in U.S crude oil inventories. On the other hand, gold price surged 0.34% to $1,224.90 a troy ounce following dollar\u2019s weakness amid dovish Powell.<\/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

16:00\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Draghi Speaks<\/p>\n

03:00 (30th<\/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 FOMC Meeting Minutes<\/p>\n

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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
16:55<\/td>\nEUR \u2013 German Unemployment Change (Nov)<\/td>\n-11K<\/td>\n-10K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n224K<\/td>\n221K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core PCE Price Index (MoM) (Oct)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Personal Spending (MoM) (Oct)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Personal Income (MoM) (Oct)<\/td>\n0.2%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Oct)<\/td>\n0.5%<\/td>\n0.8%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing the support level 96.55. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level 96.55.<\/p>\n

 <\/p>\n

Resistance level: 96.85, 97.45<\/p>\n

Support level: 96.55, 96.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior rebound from the support level 1.2765. MACD which display bullish momentum with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.2880.<\/p>\n

 <\/p>\n

Resistance level: 1.2880, 1.3025<\/p>\n

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

 <\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level 1.1365. MACD which display bullish bias with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.1420.<\/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 following prior breakout below the previous support level 113.65. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 113.10.<\/p>\n

 <\/p>\n

Resistance level: 113.65, 114.15<\/p>\n

Support level: 113.10, 112.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level 0.7265. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7330.<\/p>\n

 <\/p>\n

Resistance level: 0.7330, 0.7370<\/p>\n

Support level: 0.7265, 0.7215<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following recent breakout above the previous resistance level 0.6805. MACD which display bullish bias signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.6880.<\/p>\n

 <\/p>\n

Resistance level: 0.6880, 0.6975<\/p>\n

Support level: 0.6805, 0.6755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level 1.3260. MACD which illustrate bearish momentum with the formation of death cross and negative divergence suggest the pair to extend its losses after it breaks below the support level 1.3260.<\/p>\n

 <\/p>\n

Resistance level: 1.3315, 1.3360<\/p>\n

Support level: 1.3260, 1.3180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level 0.9915. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair extend its losses after its breaks below the support level 0.9915.<\/p>\n

 <\/p>\n

Resistance level: 0.9955, 1.0000<\/p>\n

Support level: 0.9915, 0.9860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remains traded in sideway while currently testing the support level 50.40. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level 50.40.<\/p>\n

 <\/p>\n

Resistance level: 52.85, 55.00<\/p>\n

Support level: 50.40, 49.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded higher following prior breakout above the previous resistance level 1220.00. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1228.50.<\/p>\n

 <\/p>\n

Resistance level: 1228.50, 1234.50<\/p>\n

Support level: 1220.00, 1212.50<\/p>\n

 <\/p>\n

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

29 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 slumped amid US escalating trade war plans. Dollar downed against its basket of six major pairs amid concerns from US President Donald Trump to propose tariff in automobile industry to protect its nation\u2019s interest. According to news resource, US President Donald Trump has announced on Wednesday he […]<\/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\/39697"}],"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=39697"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/39697\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=39697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=39697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=39697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}