{"id":46444,"date":"2019-02-12T06:10:57","date_gmt":"2019-02-12T06:10:57","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=46444"},"modified":"2019-02-12T06:10:57","modified_gmt":"2019-02-12T06:10:57","slug":"120219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120219-afternoon-session-analysis\/","title":{"rendered":"120219 Afternoon Session Analysis"},"content":{"rendered":"

12 February 2019\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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Trade woes weigh on market, dollar gains. <\/strong><\/p>\n

Greenback further its gains for the 8th<\/sup> consecutive sessions while currently traded flat against a basket of six major currency pairs at 96.82 as trade tensions continues to worsen market sentiment. As Washington is set off to a new round of trade talks with Beijing counterparts this week, investors expect US to continue exerting pressure on China for a better reform to protect its companies\u2019 intellectual property. The fear and uncertainties surrounding the outcome of the trade talks made dollar the \u2018big shot\u2019 as investors shifted their portfolios from riskier market to safe-have dollar. As trade talk tensions weigh heavily onto the Asian market, the Australian dollar fell to its 5-weeks low following poor Home Loans data which came in at -6.1%, missing economists\u2019 expectations of -2.0%. The single currency underwent large sell-off throughout the week as investors fear that the trade disputes between US and China will affect China\u2019s major trading partner, Australia. As of writing, pair of AUD\/USD ticks up by 0.10% to 0.7070.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.50% to $52.70 per barrel amid OPEC glut cut and US sanctions against Iranian oil. However, fears on US-Sino trade tensions and oversupply in the US continues to weigh on the oil market. Investors are currently focusing on OPEC monthly report in hope that the report might include further supply cut decisions that might push the oil prices higher this year. Likewise, gold price edges higher by 0.04% to $1,308.50 a troy ounce while remained pressured by dollar gains.<\/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

19:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\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 OPEC Monthly Report<\/p>\n

21:00\u00a0\u00a0\u00a0\u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoE Gov Carney Speaks<\/p>\n

01:45 (13th<\/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\u00a0 Fed Chair Powell Speaks<\/p>\n

 <\/p>\n

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 JOLTs Job Openings (Dec)<\/td>\n6.888M<\/td>\n6.900M<\/td>\n–<\/td>\n<\/tr>\n
05:30<\/p>\n

(13th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n2.514M<\/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 higher while currently testing near the resistance level 96.85. MACD which illustrate diminishing bullish momentum suggest index to undergo short-term technical correction and retrace towards the support level 96.50.<\/p>\n

 <\/p>\n

Resistance level: 96.85, 97.15<\/p>\n

Support level: 96.50, 96.05
\n<\/u><\/strong><\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing near the support level of 1.2850. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the support of 1.2850.<\/p>\n

 <\/p>\n

Resistance level: 1.2915, 1.3000<\/p>\n

Support level: 1.2850, 1.2750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing near the support of 1.1275. MACD which display diminishing bearish momentum suggest the pair to undergo short-term technical correction and rebound towards the resistance level 1.1310.<\/p>\n

 <\/p>\n

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

Support level: 1.1275, 1.1215<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above previous resistance level 110.40. MACD which illustrate bullish momentum suggest the pair to extend its gains towards the resistance level 111.00.<\/p>\n

 <\/p>\n

Resistance level: 111.00, 111.45<\/p>\n

Support level: 110.00, 109.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from low-levels. MACD which illustrate bullish momentum suggest the pair to extend its gains towards the resistance level 0.7100.<\/p>\n

 <\/p>\n

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

Support level: 0.7030, 0.6955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level 0.6715. Due to lack of signal from the MACD, a breakout below or rebound from the support level 0.6715 is required for further confirmation before entering the market.<\/p>\n

 <\/p>\n

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

Support level: 0.6715, 0.6675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level 1.3325. MACD which illustrate bias bearish signal suggest the pair to extend its retracement towards the support level 1.3245.<\/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 following prior breakout above previous resistance level 1.0030. MACD which display bullish signal suggest the pair to extend its gains towards the resistance level 1.0080.<\/p>\n

 <\/p>\n

Resistance level: 1.0080, 1.0130<\/p>\n

Support level: 1.0030, 0.9995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance level 52.70. MACD which illustrate bullish momentum with the formation of golden cross suggest the commodity to extend its gains after a breakout above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 51.60, 50.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level 1315.00. MACD which display bearish momentum and the formation of death cross suggest gold to extend its retracement towards the support level 1305.00.<\/p>\n

 <\/p>\n

Resistance level: 1315.00, 1325.00<\/p>\n

Support level: 1305.00, 1295.00<\/p>\n","protected":false},"excerpt":{"rendered":"

12 February 2019\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 Afternoon Session Analysis   Trade woes weigh on market, dollar gains. Greenback further its gains for the 8th consecutive sessions while currently traded flat against a basket of six major currency pairs at 96.82 as trade tensions continues to worsen market sentiment. As Washington is set off to a new round of […]<\/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\/46444"}],"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=46444"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/46444\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=46444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=46444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=46444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}