{"id":45443,"date":"2019-01-29T06:19:32","date_gmt":"2019-01-29T06:19:32","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=45443"},"modified":"2019-01-29T06:19:32","modified_gmt":"2019-01-29T06:19:32","slug":"290119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290119-afternoon-session-analysis\/","title":{"rendered":"290119 Afternoon Session Analysis"},"content":{"rendered":"

29 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

 <\/p>\n

Huawei drama escalates, Yen in bid.<\/strong><\/span><\/p>\n

Safe-haven Japanese yen remains well in bid on Tuesday after US Justice Department charged China\u2019s Huawei Technologies Co Ltd with fraud, further intensifying ongoing trade tension in between US and China. US government announced on yesterday to charge Huawei\u2019s Chief Financial Officer and two affiliates with bank wire fraud for violation against international sanction enacted upon Iran. Investors fear that the charges could complicate high level trade talks which is set to being tomorrow as China\u2019s Premier Liu He will meet with US trade representative Robert Lighthizer. On the other hand, greenback remains under pressure while investors anticipate the outcome of Federal Reserve monetary policy meeting. Traders are widely expecting the Fed to adopt a more cautious stance as recent corporate earnings and economic data shows signs of diminishing momentum. As of writing, pair of USD\/JPY depreciates by 0.09% to 109.23 while the dollar index was down 0.01% to 95.35.<\/p>\n

 <\/p>\n

In the commodities section, crude oil price rose 0.10% to $51.93 per barrel. Oil prices received some bullish support after Trump administration imposed a series of sanctions upon Venezuelan state-owned oil firm, severely curbing its exports to the United States. Similarly, gold price rose 0.05% to $1,303.99 a troy ounce following weaker US dollar.<\/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

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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

N\/A<\/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
23:00<\/td>\nUSD \u2013 CB Consumer Confidence (Jan)<\/td>\n128.1<\/td>\n124.7<\/td>\n–<\/td>\n<\/tr>\n
05:30 (30th<\/sup>)<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n6.550M<\/td>\n–<\/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 remains traded within a sideways channel in between 95.60 and 95.30. Due to the lack of signal from MACD and price action, it is suggested to wait for a breakout to occur before entering the market.<\/p>\n

Resistance level: 95.60, 95.75<\/p>\n

Support level: 95.30, 95.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance of 1.3230. MACD which has formed a death cross signal suggests the pair to extend its losses after successfully closing below 1.3125.<\/p>\n

Resistance level: 1.3230, 1.3315<\/p>\n

Support level: 1.3125, 1.2990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance of 1.1435. MACD which illustrate bullish signal suggests the pair to extend its gains after successfully closing above 1.1435.<\/p>\n

Resistance level: 1.1435, 1.1485<\/p>\n

Support level: 1.1390, 1.1350<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the upward trendline. MACD which illustrate bearish signal suggests the pair to advance further down after successfully breaking the trendline.<\/p>\n

Resistance level: 109.35, 109.90<\/p>\n

Support level: 108.95, 108.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remains traded within a sideways channel in between 0.7220 and 0.7115. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 0.7220, 0.7255<\/p>\n

Support level: 0.7145, 0.7115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher while currently testing at the top level of narrowing triangle. MACD which illustrate bullish signal suggests the pair to extend its gains after successfully breaking the top level.<\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the resistance of 1.3280. MACD which illustrate diminished upward momentum suggests the pair to advance further down, towards the direction of 1.3220.<\/p>\n

Resistance level: 1.3280, 1.3325<\/p>\n

Support level: 1.3220, 1.3175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance of 0.9970. However, MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 0.9920, 0.9970<\/p>\n

Support level: 0.9875, 0.9815<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level near 51.50. MACD which illustrate bullish signal suggests its prices to advance further upwards after closing above the 20-MA line (red).<\/p>\n

Resistance level: 52.80, 53.70<\/p>\n

Support level: 51.85, 51.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance of 1305.40. MACD which illustrate diminished upward momentum suggests its prices to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 1305.40, 1313.80<\/p>\n

Support level: 1295.55, 1286.75<\/p>\n","protected":false},"excerpt":{"rendered":"

29 January 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis     Huawei drama escalates, Yen in bid. Safe-haven Japanese yen remains well in bid on Tuesday after US Justice Department charged China\u2019s Huawei Technologies Co Ltd with fraud, further intensifying ongoing trade tension in between US and China. US government announced on yesterday to charge Huawei\u2019s Chief Financial […]<\/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\/45443"}],"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=45443"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/45443\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=45443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=45443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=45443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}