{"id":42487,"date":"2018-12-31T07:13:15","date_gmt":"2018-12-31T07:13:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=42487"},"modified":"2018-12-31T07:30:22","modified_gmt":"2018-12-31T07:30:22","slug":"311218-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/311218-afternoon-session-analysis\/","title":{"rendered":"311218 Afternoon Session Analysis"},"content":{"rendered":"

31 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 skyrocketed amid trade war eased.<\/strong><\/span><\/p>\n

Dollar index surged against a basket of its major peer currencies during Asian trading session amid progress on Sino-U.S trade standoff generated bullish momentum toward the Dollar market. Sentiment of market participants toward the Greenback has been cheered up by U.S. President Donald Trump as he mentioned he held a \u2018very good call\u2019 with China Premier Xi Jinping on Saturday to discuss trade and emphasized that a \u201cbig step\u201d was being made. According to China media, reporting that Xi Jinping hoped both countries can reach an agreement that mutually beneficial. Moreover, White house was exerting pressure on China for more details of how it might benefited US exports and loosen the regulations that suppress US firms, reported by Wall Street Journal. US government representative team would travel to Beijing in the week of Jan 7 to have face to face meeting with Chinese negotiating team since both country\u2019s supreme leader agreed to a 90 days truce during G20 meeting in Argentina. As of now, Dollar index rose 0.07% to 96.00 while the pair of AUD\/USD inched up 0.31% to 0.7060.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price up 1.67% to $45.80 per barrel, mirroring gains in stocks markets but were on track for the first yearly decline amid persistent oversupply issues unsolved, ahead of 1 Jan oil production cut\u2019s plan. Besides, gold price inched down 0.18% to $1278.20 a troy ounce amid Dollar recovered part of its losses before New Year Holiday.<\/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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing near the resistance level at 96.00. MACD which illustrate diminishing bearish momentum suggest dollar to extend its gains after successfully breakout above the resistance level at 96.00.<\/p>\n

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

Support level: 95.70, 95.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower in a sideway channel following prior retracement from the resistance level at 1.2715. MACD which display diminishing bullish signal suggest the pair to extend its losses toward the support level at 1.2615.<\/p>\n

Resistance level: 1.2715, 1.2785<\/p>\n

Support level: 1.2615, 1.2550<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1430. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after the candle closure below the support level at 1.1430.<\/p>\n

Resistance level: 1.1475, 1.1540<\/p>\n

Support level: 1.1430, 1.1385<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level 110.25. MACD which illustrate bullish momentum suggest the pair to extend its rebound towards the resistance level at 110.65.<\/p>\n

Resistance level: 110.65, 110.95<\/p>\n

Support level: 110.25, 109.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level 0.7030. MACD which display bullish bias suggest the pair to extend its gains towards the resistance level at 0.7065.<\/p>\n

Resistance level: 0.7065, 0.7115<\/p>\n

Support level: 0.7030, 0.6985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6695. MACD which illustrate ongoing bullish momentum suggest the pair to extend its rebound towards the resistance level 0.6740.<\/p>\n

Resistance level: 0.6740, 0.6785<\/p>\n

Support level: 0.6695, 0.6630<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4:<\/strong> USDCAD was traded lower following prior retracement from the resistance level at 1.3650. MACD which display bearish signal suggest the pair to extend its losses toward the support level at 1.3600.<\/p>\n

Resistance level: 1.3650, 1.3680<\/p>\n

Support level: 1.3600, 1.3565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level at 0.5855. MACD which display diminishing bearish momentum suggest the pair to extend its rebound after successfully breakout above the resistance level at 0.9855.<\/p>\n

Resistance level: 0.9855, 0.9905<\/p>\n

Support level: 0.9810, 0.9755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 45.80. MACD which display bullish signal suggest the commodity to extend its gains towards the resistance level at 47.00.<\/p>\n

Resistance level: 47.00, 48.35<\/p>\n

Support level: 44.85, 43.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the support level at 1277.10. MACD which illustrate diminishing bearish momentum suggest gold to extend its gains toward the resistance level at 1283.55.<\/p>\n

Resistance level: 1283.55, 1290.95<\/p>\n

Support level: 1277.10, 1272.65<\/p>\n

 <\/p>\n

Highlighted economy data and events for the week: <\/u><\/strong>December 31 \u2013 January 4 <\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, December 31<\/strong><\/td>\n <\/p>\n

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

CNY \u2013 <\/strong>Manufacturing PMI (Dec)<\/p>\n

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

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

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

 <\/td>\n<\/tr>\n

Tuesday, December 1<\/strong><\/td>\n <\/p>\n

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

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

 <\/p>\n

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

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

 <\/td>\n<\/tr>\n

Wednesday, December 2<\/strong><\/td>\n <\/p>\n

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

CNY \u2013 <\/strong>Caixin Manufacturing PMI (Dec)<\/p>\n

EUR \u2013 <\/strong>German Manufacturing PMI (Dec)<\/p>\n

GBP \u2013 <\/strong>Manufacturing PMI (Dec)<\/p>\n

 <\/p>\n

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

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

 <\/td>\n<\/tr>\n

Thursday, <\/strong>December 3<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

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

GBP \u2013 <\/strong>Construction PMI (Dec)<\/p>\n

USD \u2013 <\/strong>ADP Nonfarm Employment Change (Dec)<\/p>\n

USD \u2013 <\/strong>Initial Jobless Claims<\/p>\n

USD \u2013 <\/strong>ISM Manufacturing PMI (Dec)<\/p>\n

USD<\/strong> \u2013 New Home Sales<\/p>\n

 <\/p>\n

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

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

 <\/td>\n<\/tr>\n

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

Friday, December 4<\/strong><\/p>\n

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

 <\/p>\n

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

EUR \u2013 <\/strong>German Unemployment Change (Dec)<\/p>\n

GBP<\/strong> \u2013 Service PMI (Dec)<\/p>\n

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

USD<\/strong> \u2013 Nonfarm Payrolls (Dec)<\/p>\n

USD<\/strong> \u2013 Unemployment Rate (Dec)<\/p>\n

CAD<\/strong> \u2013 Employment Change (Dec)<\/p>\n

 <\/p>\n

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

USD<\/strong> \u2013 Fed Chair Powell Speaks<\/p>\n

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

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

31 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 skyrocketed amid trade war eased. Dollar index surged against a basket of its major peer currencies during Asian trading session amid progress on Sino-U.S trade standoff generated bullish momentum toward the Dollar market. Sentiment of market participants toward the Greenback has been cheered up by U.S. […]<\/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\/42487"}],"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=42487"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/42487\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=42487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=42487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=42487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}