{"id":43974,"date":"2019-01-15T06:30:14","date_gmt":"2019-01-15T06:30:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=43974"},"modified":"2019-01-15T06:30:14","modified_gmt":"2019-01-15T06:30:14","slug":"150119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150119-afternoon-session-analysis\/","title":{"rendered":"150119 Afternoon Session Analysis"},"content":{"rendered":"

15 January 2019\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 inched lower, Brexit vote kept market pressured.<\/strong><\/p>\n

Dollar index continued to be pressured by cloudy sentiment after Fed\u2019s dovish comment regarding being patient on future rate hikes provided the current inflation outlook. Besides that, global market participants are focusing all their attention towards the long-awaited Brexit vote on UK Prime Minister Theresa May\u2019s Brexit deal whereby a major loss in vote might send the pound sterling falling while UK economy faces higher likelihood of recession. Recent reports stated that May will force a second vote if her deal is rejected, supported by German leader Angela Merkel with the quote that a no-deal Brexit will be a disaster for everyone. However, a second vote might be opposed by members of the Cabinet, increasing the likelihood of May being overthrow from her position as PM. Investors are being cautious while awaiting further sentiment in the current quiet market pressured by uncertainties and also lack of demand for safe-haven assets. As of writing, dollar index inched lower by 0.07% to 95.10 while pair of GBP\/USD climbs by 0.27% to 1.2895.<\/p>\n

 <\/p>\n

For the commodities market, crude oil price edges higher by 0.63% to $51.10 per barrel while market sentiment continues to be boosted by OPEC\u2019s production cut and Iran sanctions. Investors will focus on crude oil inventories report from EIA and API to gauge future price movements for oil. On the other hand, gold price falls by 0.08% to $1290.25 a troy ounce amid lower demand for safe-haven assets.<\/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\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

23:00\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 President Draghi Speaks<\/p>\n

00:30 (16th<\/sup>)\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 FOMC Member Kashkari Speaks<\/p>\n

02:00\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 FOMC Member George Speaks<\/p>\n

02:00\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 FOMC Member Kaplan Speaks<\/p>\n

03:00\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 UK Parliament Vote on Brexit Deal<\/p>\n

 <\/p>\n


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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\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
18:00<\/td>\nEUR \u2013 Trade Balance (Nov)<\/td>\n14.0B<\/td>\n13.7B<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 NY Empire State Manufacturing Index (Jan)<\/td>\n10.90<\/td>\n10.75<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 PPI (MoM) (Dec)<\/td>\n0.1%<\/td>\n-0.1%<\/td>\n–<\/td>\n<\/tr>\n
05:30 (16th<\/sup>)<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-6.270M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from high levels. MACD which illustrate diminishing bullish momentum suggest the dollar to traded lower towards the support level of 94.85.<\/p>\n

 <\/p>\n

Resistance level: 95.60, 96.30<\/p>\n

Support level: 94.85, 94.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.2930. MACD which display bullish momentum suggest the pair to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2930, 1.3015<\/p>\n

Support level: 1.2815, 1.2700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above previous resistance level 1.1470. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains towards the resistance level 1.1555.<\/p>\n

 <\/p>\n

Resistance level: 1.1555, 1.1635<\/p>\n

Support level: 1.1470, 1.1400<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout from previous resistance level 108.55. MACD which display bullish momentum suggest the pair to extend its gains towards the resistance level 109.25.<\/p>\n

 <\/p>\n

Resistance level: 109.25, 109.90<\/p>\n

Support level: 108.55, 107.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance level of 0.7220. MACD which display diminishing bearish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7220, 0.7290<\/p>\n

Support level: 0.7170, 0.7100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing near the resistance level 0.6850. MACD which illustrate starting bullish momentum suggest the pair to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6850, 0.6915<\/p>\n

Support level: 0.6780, 0.6715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower near the support level 1.3255. MACD which display diminishing bullish momentum suggest the pair to extend its losses after breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3325, 1.3420<\/p>\n

Support level: 1.3255, 1.3185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support level of 0.9805. MACD which display starting bearish momentum and the formation of death cross suggest the pair to extend its losses after breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9860, 0.9925<\/p>\n

Support level: 0.9805, 0.9755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 50.50. MACD which display diminishing bearish momentum suggest the commodity to extend its rebound towards the resistance level of 51.60.<\/p>\n

 <\/p>\n

Resistance level: 51.60, 52.70<\/p>\n

Support level: 50.50, 49.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remains traded within a narrowing triangle while currently testing at the lower bottom level of the triangle. Due to lack of signal from the MACD, a breakout below or rebound from the bottom level of the triangle is required for further confirmation before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 1295.00, 1305.00<\/p>\n

Support level: 1285.00, 1275.00<\/p>\n","protected":false},"excerpt":{"rendered":"

15 January 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar inched lower, Brexit vote kept market pressured. Dollar index continued to be pressured by cloudy sentiment after Fed\u2019s dovish comment regarding being patient on future rate hikes provided the current inflation outlook. Besides that, global market participants are focusing all their attention towards the long-awaited Brexit vote […]<\/p>\n","protected":false},"author":20,"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\/43974"}],"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\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=43974"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/43974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=43974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=43974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=43974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}