{"id":41245,"date":"2018-12-17T05:32:34","date_gmt":"2018-12-17T05:32:34","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=41245"},"modified":"2018-12-17T05:32:34","modified_gmt":"2018-12-17T05:32:34","slug":"171218-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/171218-afternoon-session-analysis\/","title":{"rendered":"171218 Afternoon Session Analysis"},"content":{"rendered":"

17 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar hovered ahead of Fed meeting.\u00a0<\/strong><\/span><\/p>\n

Dollar was traded flat around 96.85 after hitting 19 months high last Friday as investors are waiting for the Federal Reserve\u2019s meeting which will be held on this Wednesday. In the meeting, Federal Reserve will focus on analyzing U.S economic outlook and decide the future trajectory of U.S monetary policy. Prior to the meeting, market participant is expecting the U.S central bank to raise their interest rate by 25 basis point. However, recent comment by Fed chairman Jerome Powell has been treated as dovish signal by the market after he commented that the current interest rates were near the \u201cneutral\u201d range, the level where they neither stimulate nor impede the economy. As of writing, the dollar index dipped 0.03% to 96.80. On the other hand, pair of GBP\/USD down 0.01% to 1.2580 during Asian trading session after UK Prime Minister Theresa May accused former Prime Minister Tony Blair on proposals to undergo a second Brexit referendum which considered as a breach of trust.<\/p>\n

 <\/p>\n

In the commodities market, crude oil surged 0.31% to $51.60 per barrel after U.S drilling activity fell to its lowest level in about two months as US drillers cut four oil rigs in the week to December 14. Besides, gold dipped 0.05% to $1237.60 a troy ounce amid investors shifted their portfolio towards riskier asset such as Euro and Sterling pound.<\/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\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
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 CPI (YoY) (Nov)<\/td>\n2.0%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP \u2013 CBI Industrial Trends Orders (Dec)<\/td>\n10<\/td>\n6<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 NY Empire State Manufacturing Index (Dec)<\/td>\n23.30<\/td>\n20.10<\/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 traded lower following prior gap down while currently testing 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 the candle successfully close below the support level at 96.85.<\/p>\n

Resistance level: 97.05, 97.30<\/p>\n

Support level: 96.85, 96.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2535. MACD which illustrate bullish bias momentum and formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.2610.<\/p>\n

Resistance level: 1.2610, 1.2675<\/p>\n

Support level: 1.2535, 1.2485<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1275. MACD which display bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.1320.<\/p>\n

Resistance level: 1.1320, 1.1340<\/p>\n

Support level: 1.1275, 1.1225<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher in the sideway channel while currently testing near the resistance level at 113.50. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout the resistance level at 113.50.<\/p>\n

Resistance level: 113.50, 113.70<\/p>\n

Support level: 113.20, 112.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher while currently testing near the resistance level at 0.7180. MACD which illustrate bullish bias momentum suggest the pair to extend its gains after successfully breakout the resistance level at 0.7180.<\/p>\n

Resistance level: 0.7180, 0.7220<\/p>\n

Support level: 0.7155, 0.7115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher in sideway channel following prior rebound from the support level at 0.6790. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gain toward the resistance level at 0.6810.<\/p>\n

Resistance level: 0.6810, 0.6840<\/p>\n

Support level: 0.6790, 0.6750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout from the previous resistance level at 1.3365. <\/strong>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: 1.3415, 1.3445<\/p>\n

Support level: 1.3365, 1.3330<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout from the previous resistance level at 0.9955. MACD which illustrate bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.0005.<\/p>\n

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

Support level: 0.9955, 0.9915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded higher in the sideway channel following prior rebound near the support level at 50.35. 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: 52.80, 54.05<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded higher following prior rebound near the support level at 1235.50. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1239.10.<\/p>\n

Resistance level: 1239.10, 1242.05<\/p>\n

Support level: 1235.50, 1228.50<\/p>\n

Highlighted economy data and events for the week: <\/u><\/strong>December 17 \u2013 21\u00a0\u00a0 <\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, December 17 <\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

EUR \u2013 <\/strong>CPI (YoY) (Nov)<\/p>\n

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

Events<\/strong><\/p>\n

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n

Tuesday, December 18<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

EUR \u2013 <\/strong>German Ifo Business Climate Index<\/p>\n

USD<\/strong> \u2013 Building Permits (Nov)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

AUD<\/strong> \u2013 Mid-Year Economic and Fiscal Outlook<\/p>\n

AUD<\/strong> \u2013 RBA Meeting Minutes<\/p>\n

 <\/td>\n<\/tr>\n

Wednesday, December 19<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

GBP \u2013 <\/strong>CPI (YoY) (Nov)<\/p>\n

CAD \u2013 <\/strong>Core CPI (MoM) (Nov)<\/p>\n

USD \u2013 <\/strong>Existing Home Sales (Nov)<\/p>\n

CrudeOIL \u2013 <\/strong>Crude Oil Inventories<\/p>\n

CrudeOIL \u2013 <\/strong>API Weekly Cure Oil Stock<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n

Thursday, <\/strong>December 20<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

Data<\/strong><\/p>\n

USD \u2013 <\/strong>Fed Interest Rate Decision<\/p>\n

NZD \u2013 <\/strong>GDP (QoQ) (Q3)<\/p>\n

AUD \u2013<\/strong> Employment Change (Nov)<\/p>\n

JPY <\/strong>\u2013 BoJ Interest Rate Decision<\/p>\n

GBP \u2013<\/strong> Retail Sales (MoM) (Nov)<\/p>\n

GBP \u2013<\/strong> BoE Interest Rate Decision<\/p>\n

USD \u2013<\/strong> Philadelphia Fed Manufacturing Index (Dec)<\/p>\n

 <\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

USD \u2013 <\/strong>FOMC Economic Projections<\/p>\n

USD \u2013<\/strong> FOMC Statement<\/p>\n

USD<\/strong> \u2013 FOMC Press Conference<\/p>\n

JPY<\/strong> \u2013 BoJ Monetary Policy Statement<\/p>\n

JPY<\/strong> \u2013 BoJ Press Conference<\/p>\n

 <\/td>\n<\/tr>\n

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

Friday, December 21<\/strong><\/p>\n

\u00a0<\/strong><\/td>\n

 <\/p>\n

Data<\/strong><\/p>\n

GBP \u2013 <\/strong>GDP (YoY) (Q3)<\/p>\n

GBP<\/strong> \u2013 GDP (QoQ) (Q3)<\/p>\n

USD \u2013 <\/strong>Core Durable Goods Orders (MoM) (Nov)<\/p>\n

USD \u2013 <\/strong>GDP (QoQ) (Q3)<\/p>\n

CAD \u2013 <\/strong>Core Retail Sales (MoM) (Oct)<\/p>\n

CAD \u2013 <\/strong>GDP (MoM) (Oct)<\/p>\n

CrudeOIL \u2013 <\/strong>US Baker Hughes Oil Rig Count<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

N\/A<\/p>\n

 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

17 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 Afternoon Session Analysis   Dollar hovered ahead of Fed meeting.\u00a0 Dollar was traded flat around 96.85 after hitting 19 months high last Friday as investors are waiting for the Federal Reserve\u2019s meeting which will be held on this Wednesday. In the meeting, Federal Reserve will focus on analyzing U.S economic outlook and […]<\/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\/41245"}],"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=41245"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/41245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=41245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=41245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=41245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}