{"id":42915,"date":"2019-01-04T06:36:54","date_gmt":"2019-01-04T06:36:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=42915"},"modified":"2019-01-04T06:43:34","modified_gmt":"2019-01-04T06:43:34","slug":"040119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040119-afternoon-session-analysis\/","title":{"rendered":"040119 Afternoon Session Analysis"},"content":{"rendered":"

04 January 2019 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

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Dollar recovers ahead of NFP.<\/strong><\/span><\/p>\n

Dollar index rebound from its lows against its basket of six major currency pairs as US and China renewed hopes on trade talks. Market sentiment has slowly shifted towards positive side following reports on China\u2019s commerce ministry have confirmed that a trade talk with the U.S will be held at the vice-ministerial level in Beijing next week which could ease ongoing trade tensions. However, market remains cautious following fears of economic growth slowdown and will focus on Friday\u2019s Nonfarm Payroll data release to determine further direction. Dollar index rose 0.08% to 96.91 as of writing. Meanwhile, AUDUSD soars 0.25% to 0.7020 at the time of writing following upbeat China\u2019s Caixin Services PMI. According to Caixin, the services data improved to 53.9, higher than expected reading of 52.9 which illustrate a steady growth in China\u2019s service industry.<\/p>\n

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In the commodities market, crude oil price climbed 0.86% to $47.19 per barrel as of writing as market slowly lifted up by evidence of OPEC\u2019s production limit has coming into effect with OPEC oil supply have declined 460,000 bpd to 32.68 million BPD, Besides that, American Petroleum Institute also reported weekly crude oil stock has fell to -4.5m from previous reading of 6.92M which illustrate a decreasing supply that could continue bolster the crude oil market. On the other hand, gold price rose 0.02% to 1294.15 as of writing as global uncertainty and economic growth slowdown fear continue to support the safe haven asset.<\/p>\n

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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

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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

23:15\u00a0\u00a0\u00a0\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\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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 Unemployment Change<\/td>\n-16K<\/td>\n-12K<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Services PMI (Dec)<\/td>\n50.4<\/td>\n50.7<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Dec)<\/td>\n155K<\/td>\n178K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Unemployment Rate (Dec)<\/td>\n3.7%<\/td>\n3.7%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Employment Change (Dec)<\/td>\n94.1K<\/td>\n6.8K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the support level 95.75. MACD which display diminishing bearish momentum suggest dollar to extend its rebound towards the resistance level 96.55.<\/p>\n

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Resistance level: 96.55, 97.15<\/p>\n

Support level: 95.75, 95.25<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above previous resistance level at 1.2620. MACD which illustrate starting bullish momentum with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.2720.<\/p>\n

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Resistance level: 1.2720, 1.2785<\/p>\n

Support level: 1.2620, 1.2550<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the resistance level 1.1350. MACD which display bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.1425.<\/p>\n

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Resistance level: 1.1425, 1.1480<\/p>\n

Support level: 1.1350, 1.1305<\/p>\n

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USDJPY, H1: <\/strong>USDJPY was traded higher following prior breakout above previous resistance level 108.10. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 108.70.<\/p>\n

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Resistance level: 108.70, 10.35<\/p>\n

Support level: 108.10, 107.55<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above previous resistance level at 0.7005. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7070.<\/p>\n

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Resistance level: 0.7070, 0.7140<\/p>\n

Support level: 0.7005, 0.6950<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level 0.6680. MACD which display bullish momentum suggest the pair to extend its gains towards the resistance level 0.6715.<\/p>\n

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Resistance level: 0.6715, 0.6740<\/p>\n

Support level: 0.6680, 0.6640<\/p>\n

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USDCAD, H4:<\/strong> USDCAD was traded lower following prior breakout below the previous support level 1.3505. MACD which illustrate diminishing bearish momentum suggest the pair to undergo short term technical correction towards the resistance level 1.3505.<\/p>\n

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Resistance level: 1.3505, 1.3570<\/p>\n

Support level: 1.3420, 1.3330<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded lower following recent retracement from the resistance level 0.9920. MACD which illustrate bearish momentum suggest the pair to extend its losses towards support level 0.9855.<\/p>\n

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Resistance level: 0.9920, 0.9985<\/p>\n

Support level: 0.9855, 0.9795<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level 46.60. MACD which display bullish momentum suggest the commodity to extend its gains towards the resistance level 49.95.<\/p>\n

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Resistance level: 49.95, 53.00<\/p>\n

Support level: 46.60, 44.65<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level 1290.70. MACD which display bullish momentum suggest gold to extend its gains towards the resistance level 1300.90<\/p>\n

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Resistance level: 1300.90, 1319.35<\/p>\n

Support level: 1290.70, 1278.75<\/p>\n

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

04 January 2019 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar recovers ahead of NFP. Dollar index rebound from its lows against its basket of six major currency pairs as US and China renewed hopes on trade talks. Market sentiment has slowly shifted towards positive side following reports on China\u2019s commerce ministry have confirmed that a trade […]<\/p>\n","protected":false},"author":44,"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\/42915"}],"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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=42915"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/42915\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=42915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=42915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=42915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}