{"id":44549,"date":"2019-01-21T07:29:09","date_gmt":"2019-01-21T07:29:09","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=44549"},"modified":"2019-01-21T07:29:09","modified_gmt":"2019-01-21T07:29:09","slug":"210119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/210119-afternoon-session-analysis\/","title":{"rendered":"210119 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Greenback \u2018freezed\u2019 amid ongoing government shutdown.<\/strong><\/p>\n

Dollar index traded flat against its six major peer currencies after hitting high level of 96.00 despite US government shutdown issue unsolved yet. According to Reuters, U.S. President Donald Trump proposed an immigration deal to Democrats on last Saturday in a will to end 29-day partial government shutdown while insisting on his demand for U.S Mexico wall funding. However, Democratic Party seem to be not affected by the pressure piled by Donald trump where they immediately dismissed the deal offer by him. On the other side, Democrats party insisted talks on border security will be continued only after the government is reopened, emphasized by Senate Democratic Leader Chuck Schumer. As of writing, Dollar index inched down 0.05% to 95.85. On the other hand, the pair of AUD\/USD rose 0.03% to 0.7165 although China GDP growth slows to weakest in 28 years, but the pair was supported by higher than expected Industrial Production Data for December. China GDP data came in at 6.4%, hitting the economists\u2019 forecast while Industrial Production Data shown in a rate of 5.7%, out of economist expectation of 5.3% and eventually bolstered the Aussie Dollar as Australia is highly correlated to China economy\u2019s performance.<\/p>\n

 <\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.50% to $54.20 per barrel, highest level for 2019 after data showed refinery processing in China climbed to record high in 2019, despite China GDP data declined to weakest level. Besides, gold price rose 0.08% to $1282.30 amid demand for Greenback has weaken.<\/p>\n

 <\/p>\n

 <\/p>\n

\u00a0<\/u><\/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

Tentatif\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 UK Prime Minister May Speaks<\/p>\n

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 German PPI<\/td>\n0.1%<\/td>\n-0.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was lower following prior retracement from the resistance level 96.00. MACD which illustrate diminishing bullish momentum suggest the dollar to extend its retracement towards the support level 95.60.<\/p>\n

 <\/p>\n

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

Support level: 95.60, 95.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish momentum suggset the pair to extend its rebound towards the resistance level 1.2930.<\/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 rebound near the support level 1.1350. MACD which illustrate starting bullish momentum suggset the pair to extend its rebound towards the resistance level 1.1400.<\/p>\n

 <\/p>\n

Resistance level: 1.1400, 1.1440<\/p>\n

Support level: 1.1350, 1.1310<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 108.90. MACD which display diminishing bullish momentum suggest the pair to extend its retracement towards the support level 109.25.<\/p>\n

 <\/p>\n

Resistance level: 109.90, 110.40<\/p>\n

Support level: 109.25, 108.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remained traded in a sideway channel while currently testing the bottom-level of the channel at 0.7170. MACD which display diminishing bearish momentum suggest the pair to undergo short-term technical correction and rebound from the bottom-level of the channel.<\/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 lower while currently testing near the support level of 0.6715. MACD which display diminishing bearish momentum suggest the pair to undergo short-term technical correction and rebound from the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6780, 0.6850<\/p>\n

Support level: 0.6715, 0.6625<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4 <\/strong>USDCAD remained traded in a sideway channel following prior rebound from the support level 1.3245. Due to lack of signal from the MACD, a breakout above or below the sideway channel is required for further confirmation before entering the market.<\/p>\n

 <\/p>\n

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

Support level: 1.3245, 1.3185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.9950. MACD which illustrate diminished bullish momentum suggest the pair to undergo short-term technical correction and retrace from the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.9950, 0.9995<\/p>\n

Support level: 0.9905, 0.9860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded higher following prior breakout above previous resistance level of 53.90. MACD which display persistent bullish momentum suggest the commodity to extend its gains towards the resistance level 55.00.<\/p>\n

 <\/p>\n

Resistance level: 55.00, 56.15<\/p>\n

Support level: 53.90, 52.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_H4: <\/strong>Gold was traded lower while currently near the support level 1280.00. MACD which illustrate diminishing bearish momentum suggest gold to undergo short-term technical correction and rebound from the support level.<\/p>\n

 <\/p>\n

Resistance level: 1288.00, 1295.00<\/p>\n

Support level: 1280.00, 1272.00<\/p>\n

 <\/p>\n

 <\/p>\n

Highlighted economy data and events for the week: <\/u><\/strong>January 21 \u2013 25 <\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, January 21<\/strong><\/td>\n <\/p>\n

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

CNY\u2013 <\/strong>GDP (QoQ) (Q4)
\nCNY \u2013 <\/strong>Industrial Production (YoY) (Dec)<\/p>\n

 <\/p>\n

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

GBP \u2013 <\/strong>UK Prime Minister May Speaks<\/p>\n

 <\/td>\n<\/tr>\n

Tuesday, <\/strong>January 22<\/strong><\/td>\nData<\/strong><\/p>\n

GBP \u2013 <\/strong>Average Earnings Index +Bonus (Nov)<\/p>\n

GBP \u2013 <\/strong>Claimant Count Change (Dec)<\/p>\n

EUR \u2013 <\/strong>German ZEW Economic Sentiment (Jan)<\/p>\n

USD \u2013 <\/strong>Existing Home Sales (Dec)<\/p>\n

 <\/p>\n

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

N\/A<\/p>\n

 <\/td>\n<\/tr>\n

Wednesday, <\/strong>January 23<\/strong><\/td>\n <\/p>\n

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

NZD \u2013 <\/strong>CPI (QoQ) (Q4)<\/p>\n

JPY \u2013 <\/strong>BoJ Interest Rate Decision<\/p>\n

GBP \u2013 <\/strong>CBI Industrial Trends Orders (Jan)<\/p>\n

CAD \u2013 <\/strong>Core Retail Sales (MoM) (Nov)<\/p>\n

USD \u2013 <\/strong>Crude Oil Inventories<\/p>\n

 <\/p>\n

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

JPY \u2013 <\/strong>BoJ Monetary Policy Statement<\/p>\n

JPY \u2013 <\/strong>BoJ Outlook Report<\/p>\n

JPY \u2013 <\/strong>BoJ Press Conference<\/p>\n

 <\/td>\n<\/tr>\n

Thursday, January 24<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

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

CrudeOIL \u2013 <\/strong>API Weekly Crude Oil Stock<\/p>\n

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

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

EUR \u2013 <\/strong>ECB Interest Rate Decision<\/p>\n

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

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

USD \u2013 <\/strong>Markit Composite PMI (Jan)<\/p>\n

USD \u2013 <\/strong>Services PMI (Jan)<\/p>\n

 <\/p>\n

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

EUR \u2013 <\/strong>ECB Press Conference<\/p>\n

 <\/td>\n<\/tr>\n

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

Friday, January 25<\/strong><\/p>\n

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

 <\/p>\n

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

CrudeOIL \u2013 <\/strong>Crude Oil Inventories<\/p>\n

EUR \u2013 <\/strong>German Ifo Business Climate Index<\/p>\n

USD \u2013 <\/strong>Core Durable Goods Orders (MoM) (Dec)<\/p>\n

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

CrudeOIL \u2013 <\/strong>US Baker Hughes Oil Rig Count<\/p>\n

 <\/p>\n

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

N\/A<\/p>\n

\u00a0<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

21 January 2019 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Greenback \u2018freezed\u2019 amid ongoing government shutdown. Dollar index traded flat against its six major peer currencies after hitting high level of 96.00 despite US government shutdown issue unsolved yet. According to Reuters, U.S. President Donald Trump proposed an immigration deal to Democrats on last Saturday in a […]<\/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\/44549"}],"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=44549"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/44549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=44549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=44549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=44549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}