{"id":40013,"date":"2018-12-03T06:44:50","date_gmt":"2018-12-03T06:44:50","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=40013"},"modified":"2018-12-03T06:44:50","modified_gmt":"2018-12-03T06:44:50","slug":"031218-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/031218-afternoon-session-analysis\/","title":{"rendered":"031218 Afternoon Session Analysis"},"content":{"rendered":"

3 December 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Greenback tumbled while investor await for PMI.<\/strong><\/span><\/p>\n

Dollar index which measured against six major currencies plunged after hitting 97.20 level as investor shy away from safe heaven asset. At the same time, the demand for riskier asset rises after China and United States agreed to cease fire in their trade war which lasts for 90 days. During G20 Argentina Summit, Donald Trump revoked what he announced on last week and promised with Chinese premier that he would not increase the tariffs on $200 billion of China imported goods to 25 percent. Besides, investor are also keeping their eyes on the ISM Manufacturing PMI data which will be announced on later today. Economist forecast the data would come in at 57.5 while a higher than expected reading will exert bullish momentum toward US Dollar. As of writing, Dollar index notched down 0.30% to 96.85. On the other hand, AUD\/USD up 0.75% to 0.7458 during Asian trading session amid upbeat China\u2019s Caixin PMI data announced this morning. According to National Bureau of Statistics (NBS), China PMI data came in at 50.2 slightly higher than economist forecast of 50.0, thus it generated positive momentum toward Australian dollar. Australian dollar is highly sensitive towards China\u2019s economic data as the latter is Australia\u2019s largest trade partner.<\/p>\n

 <\/p>\n

In the commodities market, crude oil notched up 5.89% to $53.65 after an announcement from Canada that Alberta would force oil producer to reduce the oil production to 325k barrel per day. Next, gold price notched up 0.28% to $1225.50 amid dollar\u2019s weakness.<\/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\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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 Manufacturing PMI (Nov)<\/td>\n51.6<\/td>\n51.6<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing PMI (Nov)<\/td>\n51.1<\/td>\n51.6<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Nov)<\/td>\n57.7<\/td>\n57.5<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (Nov)<\/td>\n56.8<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar Index was traded lower following prior retracement from the resistance level at 96.90. MACD which illustrate diminishing bullish momentum suggest the index to extend its losses toward the support level at 96.65.<\/p>\n

Resistance level: 96.90, 97.05<\/p>\n

Support level: 96.65, 96.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2725. MACD which illustrate diminishing bullish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.2785.<\/p>\n

Resistance level: 1.2785, 1.2835<\/p>\n

Support level: 1.2725, 1.2670<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level at 1.1365. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gain after successfully breakout above the resistance level at 1.1365.<\/p>\n

Resistance level: 1.1365, 1.1395<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower in the sideway channel following prior retracement from the resistance level at 113.75. However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 113.75.<\/p>\n

Resistance level: 113.75, 114.00<\/p>\n

Support level: 113.20, 112.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7360. MACD which display bullish bias momentum suggest the pair to extend its gain toward the resistance level at 0.7380.<\/p>\n

Resistance level: 0.7380, 0.7405<\/p>\n

Support level: 0.7360, 0.7325<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6885. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term toward the support level at 0.6885.<\/p>\n

Resistance level: 0.6920, 0.6955<\/p>\n

Support level: 0.6885, 0.6835<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior breakout from the previous support level at 1.3225. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 1.3190.<\/p>\n

Resistance level: 1.3225, 1.3250<\/p>\n

Support level: 1.3190, 1.3140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower in the sideway channel following prior retracement from the resistance level at 1.0005. MACD which illustrate bullish momentum suggest the pair to extend its losses toward the support level at 0.9955.<\/p>\n

Resistance level: 1.0005, 1.0045<\/p>\n

Support level: 0.9955, 0.9920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded higher following prior breakout above the previous resistance level at 53.20. MACD which illustrate bullish momentum suggest the commodity to extend its gain toward the resistance level at 55.15.<\/p>\n

Resistance level: 55.15, 57.65<\/p>\n

Support level: 53.20, 50.10<\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded higher following prior breakout above the previous resistance level at 1223.30. MACD which illustrate bullish bias momentum suggest the pair to extend its gain toward the support level at 1228.50.<\/p>\n

Resistance level: 1228.50, 1235.65<\/p>\n

Support level: 1223.30, 1218.60<\/p>\n","protected":false},"excerpt":{"rendered":"

3 December 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Greenback tumbled while investor await for PMI. Dollar index which measured against six major currencies plunged after hitting 97.20 level as investor shy away from safe heaven asset. At the same time, the demand for riskier asset rises after China and United States agreed to cease fire in […]<\/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\/40013"}],"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=40013"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/40013\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=40013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=40013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=40013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}