{"id":40332,"date":"2018-12-05T06:27:58","date_gmt":"2018-12-05T06:27:58","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=40332"},"modified":"2018-12-05T06:27:58","modified_gmt":"2018-12-05T06:27:58","slug":"051218-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/051218-afternoon-session-analysis\/","title":{"rendered":"051218 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Dollar surged amid Trump tweet.<\/strong><\/span><\/p>\n

Greenback edged higher against its six major peers after hitting two weeks low after U.S President Donald Trump agreed to temporarily stop imposing higher tariff on China imported goods last for 90 days. Prior, Donald trump tweeted that China is supposed to start buying more agricultural product from United States immediately as per promised by China Premier Xi Jinping while emphasizing that he is a \u2018Tariff Man\u2019 in a tweet. Those tweets obviously indicating that Donald Trump might raise tariff against China imported goods after 90 days trade truce. Such signal has affected the US dollar market sentiment positively and exerted bullish momentum toward the greenback. As of writing, dollar index edged up 0.14% to 96.95. On the other hand, pair of AUD\/USD notched down 0.48% to 0.7300 amid downbeat GDP data been released early today. According to Australian Bureau of Statistic, Australia GDP data came in at 0.3% lower than the reading forecasted by economist of 0.6%. The depressing GDP data portrays that the economic activity of Australia is slowing down.<\/p>\n

 <\/p>\n

In the commodities market, crude oil tumbled down 0.53% to $52.25 per barrel amid larger than expected build reported in US crude stocks while market participants await OPEC meeting. Next, gold price notched down 0.24% to 1235.30 amid dollar\u2019s rebound.<\/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

All Day\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 Mourning \u2013 In Honour of George H.W. Bush<\/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

16:30\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 ECB President Draghi Speaks<\/p>\n

 <\/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 Services PMI (Nov)<\/td>\n53.3<\/td>\n53.3<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Services PMI (Nov)<\/td>\n52.2<\/td>\n52.5<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Unit Labor Costs (QoQ) (Q3)<\/td>\n1.2%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUSD \u2013 Services PMI (Nov)<\/td>\n54.4<\/td>\n54.4<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUSD \u2013 Markit Composite PMI (Nov)<\/td>\n54.4<\/td>\n54.4<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"
\nDOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the top level of downward channel at 97.00. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after breaking the resistance level at 97.05.<\/p>\n

Resistance level: 97.05, 97.20<\/p>\n

Support level: 96.90, 96.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout from the support level at 1.2730. MACD histogram which begins to form a death cross signal suggests the pair to extend its losses, towards the direction of 1.2670.<\/p>\n

Resistance level: 1.2730, 1.2785<\/p>\n

Support level: 1.2670, 1.2620<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower in a symmetrical triangle while currently testing near the support level at 1.1330. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully closing below the support level at 1.1330.<\/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 higher following prior rebound from the support level at 112.65. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gain toward the resistance level at 113.20.<\/p>\n

Resistance level: 113.20, 113.75<\/p>\n

Support level: 112.65, 112.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level at 0.7295. MACD which illustrate bearish momentum suggest the pair to extend its losses after successfully closed below the support level at 0.7295.<\/p>\n

Resistance level: 0.7265, 0.7360<\/p>\n

Support level: 0.7290, 0.7215<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior breakout from the support level at 0.6920. MACD which illustrate bearish bias momentum suggest the pair to extend its losses 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, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.3255. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.3295.<\/p>\n

Resistance level: 1.3295, 1.3315<\/p>\n

Support level: 1.3255, 1.3225<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher in sideway channel following prior rebound from the support level at 0.9955. Due to lack of signal from MACD, a retracement from or breakout above the resistance level is required to attain further confirmation before entering the market.<\/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 lower following prior breakout from the previous support level at 53.20. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 50.10.<\/p>\n

Resistance level: 53.20, 55.15<\/p>\n

Support level: 50.10, 48.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold was traded lower following prior breakout from the previous support level at 1235.65. MACD which illustrate bearish bias momentum suggest the commodity to extend its losses toward the support level at 1228.50.<\/p>\n

Resistance level: 1235.65, 1240.60<\/p>\n

Support level: 1228.50, 1223.54<\/p>\n","protected":false},"excerpt":{"rendered":"

5 December 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\u00a0\u00a0 Afternoon Session Analysis   Dollar surged amid Trump tweet. Greenback edged higher against its six major peers after hitting two weeks low after U.S President Donald Trump agreed to temporarily stop imposing higher tariff on China imported goods last for 90 days. Prior, Donald trump tweeted that China is supposed to start […]<\/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\/40332"}],"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=40332"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/40332\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=40332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=40332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=40332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}