{"id":43551,"date":"2019-01-10T06:36:35","date_gmt":"2019-01-10T06:36:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=43551"},"modified":"2019-01-10T06:38:09","modified_gmt":"2019-01-10T06:38:09","slug":"100119-morning-session-analysis-2","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100119-morning-session-analysis-2\/","title":{"rendered":"100119 Afternoon Session Analysis"},"content":{"rendered":"

10 Januari 2019\u00a0\u00a0\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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Shaky dollar as Fed may pause rate hike.<\/strong><\/span><\/p>\n

US dollar remains under pressure prior to European Session as US Federal Reserve may pause their monetary policy tightening cycle this year. As discussed in the earlier report, minutes from Fed\u2019s last month meeting revealed that several policymakers are in favor of keeping their interest rates on hold this year. The minutes has further reinforced market sentiment for a pause in rate hike due to diminishing economic momentum in the United States. In addition, optimism towards US-China trade talks has also encouraged investors to pay higher attention on non-dollar assets such as Australian dollar and Euro. A change in demand for currencies has placed further bearish pressure upon the greenback. On the other hand, Canadian dollar extended its rally on yesterday following a sharp rebound in oil prices. In addition, Bank of Canada\u2019s assessment that further rate hike may be necessary propelled higher demand for the loonie. As of writing, the dollar index was down 0.16% to 94.58 while pair of USD\/CAD ticks down 0.02% to 1.3225.<\/p>\n

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Peering into commodities market, crude oil price tumbled 0.67% to $51.77 per barrel this afternoon. The commodity received some bearish momentum after report from EIA shows lesser-than-expected draw in crude oil stocks. On the other hand, gold price extended gains by 0.27% to $1,296.84 a troy ounce amid dollar\u2019s weakness.<\/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

20:30\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 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB Publishes Account of Monetary Policy Meeting<\/p>\n

01:00 (11th)\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
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n231K<\/td>\n225K<\/td>\n–<\/td>\n<\/tr>\n
Tentative<\/td>\nUSD \u2013 New Home Sales<\/td>\n544K<\/td>\n569K<\/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, H1: <\/strong>Dollar index was traded higher following prior rebound from the support level of 94.60. MACD which illustrate diminishing bearish momentum suggests the index to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 95.00, 95.50<\/p>\n

Support level: 94.60, 94.15<\/p>\n

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GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level near 1.2800. MACD which begins to form a death cross signal suggests the pair to be traded lower in short-term, towards 1.2755.<\/p>\n

Resistance level: 1.2800, 1.2860<\/p>\n

Support level: 1.2755, 1.2630<\/p>\n

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EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from a high level. MACD which illustrate diminished upward momentum may suggest the pair to experience technical correction in short-term.<\/p>\n

Resistance level: 1.1590, 1.1640<\/p>\n

Support level: 1.1520, 1.1480<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the downward trendline. MACD which has formed a death cross signal suggests the pair to be traded lower in short-term, in tandem with overall bearish trend.<\/p>\n

Resistance level: 108.40, 109.60<\/p>\n

Support level: 106.75, 106.00<\/p>\n

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AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7145. MACD which illustrate diminished downward momentum suggests the pair to extend its gains, towards the direction of 0.7255.<\/p>\n

Resistance level: 0.7255, 0.7330<\/p>\n

Support level: 0.7145, 0.7070<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level at 0.6780. MACD which illustrate diminished upward momentum suggests the pair to extend its losses after closing below 0.6780.<\/p>\n

Resistance level: 0.6840, 0.6890<\/p>\n

Support level: 0.6780, 0.6710<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from its low level. MACD which has formed a golden cross signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 1.3270, 1.3325<\/p>\n

Support level: 1.3220, 1.3120<\/p>\n

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USDCHF, H1: <\/strong>USDCHF was traded higher following prior rebound from low levels. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 0.9765, 0.9835<\/p>\n

Support level: 0.9665, 0.9620<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 52.75. MACD which illustrate diminished upward momentum suggest its prices to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 52.75, 55.55<\/p>\n

Support level: 50.50, 48.30<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from prior low at 1284.35. MACD which has formed a golden cross signal suggests its prices to be traded higher in mid-term, after a successful closure at 1303.00.<\/p>\n

Resistance level: 1303.00, 1314.45<\/p>\n

Support level: 1284.35, 1263.20<\/p>\n","protected":false},"excerpt":{"rendered":"

10 Januari 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis     Shaky dollar as Fed may pause rate hike. US dollar remains under pressure prior to European Session as US Federal Reserve may pause their monetary policy tightening cycle this year. As discussed in the earlier report, minutes from Fed\u2019s last month meeting revealed that several policymakers are […]<\/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\/43551"}],"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=43551"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/43551\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=43551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=43551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=43551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}