{"id":41671,"date":"2018-12-20T05:02:02","date_gmt":"2018-12-20T05:02:02","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=41671"},"modified":"2018-12-20T05:26:34","modified_gmt":"2018-12-20T05:26:34","slug":"201218-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/201218-afternoon-session-analysis\/","title":{"rendered":"201218 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

 <\/p>\n

Dollar \u2018stunned\u2019 amid mixed signal from Fed.<\/strong><\/span><\/p>\n

Greenback was traded flat after sharp rebound from one month low level amid Federal Reserve managed to raise 25 basis point before the end of this year. Prior to the interest rate decision, financial market was widely anticipating that Fed will pause hiking interest rate in short term due to rising uncertainty about global economic growth. Yet, the market were surprised by Fed decision where they retain their core of its plan to continue tightening their monetary policy although there are some amendment in the statement and lowered the growth and inflation forecast for year 2019. As of now, Federal Reserve \u2018dot plot\u2019 the number of interest rate hike to two times instead of three for next year. Dollar index dipped 0.03% to 96.45 during Asian trading session. On the other hand, pair of NZD\/USD plunged 0.41% to 0.6740 amid New Zealand\u2019s economic growth plunged to its lowest level in almost five years in the third quarter, dropping a hint of New Zealand Central Bank shall loosen their monetary policy in the future.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price notched down by 0.15% to $47.30 per barrel, pressured by downbeat crude oil inventories data. Thus, market participant are still worry about the inventory oversupply issues and the outlook for the global economy. On the other hand, gold price surged 0.11% to $1,244.00 a troy ounce following dollar\u2019s retracement from 96.50 high level.<\/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

N\/A<\/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
17:30<\/td>\nGBP \u2013 Retail Sales (MoM) (Nov)<\/td>\n-0.5%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:00<\/td>\nGBP \u2013 BoE Interest Rate Decision<\/td>\n0.75%<\/td>\n0.75%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n206K<\/td>\n216K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (Dec)<\/td>\n12.9<\/td>\n15.6<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Philly Fed Employment (Dec)<\/td>\n16.3<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Wholesale Sales (MoM) (Oct)<\/td>\n-0.5%<\/td>\n0.2%<\/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 following prior retracement from resistance level at 96.50. MACD which illustrate diminishing bullish momentum suggests the index to extend its loss toward the support level at 96.30.<\/p>\n

Resistance level: 96.50, 96.65<\/p>\n

Support level: 96.30, 96.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.2620. MACD which begins to form a death cross signal suggests the pair to extend its losses after successfully breakout below the support level at 1.2620.<\/p>\n

Resistance level: 1.2675, 1.2730<\/p>\n

Support level: 1.2620, 1.2535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1360. MACD which display diminishing bearish momentum suggests the pair to extend its gains toward the resistance level at 1.1395.<\/p>\n

Resistance level: 1.1395, 1.1445<\/p>\n

Support level: 1.1360, 1.1340<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the top levels. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 112.25.<\/p>\n

Resistance level: 112.65, 113.20<\/p>\n

Support level: 112.25, 112.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout from the support level at 0.7115. MACD which forms a bearish signal suggests the pair to extend its losses toward the support level at 0.7080.<\/p>\n

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

Support level: 0.7080, 0.7060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6755. MACD which has formed a death cross signal suggests the pair to extend its losses, towards the support level at 0.6710.<\/p>\n

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

Support level: 0.6710, 0.6630<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4:<\/strong> USDCAD was traded higher following prior breakout from the previous resistance level at 1.3495. MACD which illustrate bullish momentum suggest the pair to extend its gains toward the resistance level at 1.3545.<\/p>\n

Resistance level: 1.3545, 1.3600<\/p>\n

Support level: 1.3495, 1.3445<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9920. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 0.9955.<\/p>\n

Resistance level: 0.9955, 1.0005<\/p>\n

Support level: 0.9920, 0.9865<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower following prior breakout from the previous support level at 47.40. MACD which illustrate bearish momentum suggest the pair to extend its losses toward the support level at 46.20.<\/p>\n

Resistance level: 47.40, 48.40<\/p>\n

Support level: 46.20, 45.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the support level at 1241.35. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1246.15.<\/p>\n

Resistance level: 1246.15, 1251.05<\/p>\n

Support level: 1241.35, 1234.25<\/p>\n","protected":false},"excerpt":{"rendered":"

20 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 Afternoon Session Analysis     Dollar \u2018stunned\u2019 amid mixed signal from Fed. Greenback was traded flat after sharp rebound from one month low level amid Federal Reserve managed to raise 25 basis point before the end of this year. Prior to the interest rate decision, financial market was widely anticipating that Fed […]<\/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\/41671"}],"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=41671"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/41671\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=41671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=41671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=41671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}