{"id":47460,"date":"2019-02-21T05:54:01","date_gmt":"2019-02-21T05:54:01","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=47460"},"modified":"2019-02-21T05:54:01","modified_gmt":"2019-02-21T05:54:01","slug":"210219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/210219-afternoon-session-analysis\/","title":{"rendered":"210219 Afternoon Session Analysis"},"content":{"rendered":"

21 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

Dollar mixed as trade talk deadline approaches.<\/strong><\/p>\n

US dollar was traded mixed during mid-Asian trading session while market participants continues to monitor ongoing trade negotiations between Washington and Beijing. According to sources, both US and China have started to outline their commitments with regards to trade dispute, setting in the most significant progress which may put the seven-month trade war to an end soon. Negotiators are currently drawing up six memorandums of understanding (MoU) over structural issues which includes non-tariff barriers to trade and intellectual property rights. However, one source cautioned that the talks may still end up in failure as they nearing March 1st<\/sup> deadline. Nonetheless, signage of MoU between both countries is a significant step forward in holding up to specific commitments on key issues. On the other hand, pound sterling struggles to initiate any significant recovery following heightened political and Brexit risk in the region. According to reports, three Conservative Party MPs has resigned and will join the Independent group. Such news has further dialed down optimism towards the passage of PM Theresa May\u2019s Brexit agreement which is currently under re-negotiation with the European Union. As of writing, the dollar index was up 0.07% to 96.30 while pair of GBP\/USD depreciates by 0.03% to 1.3045.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price appreciates by 0.52% to $57.35 per barrel. Market sentiment towards the commodity remains positive over the backdrop of OPEC-led supply cuts and US sanction against Venezuela and Iran. On the other hand, gold price rose 0.10% to $1,339.69 a troy ounce. Gold price hovers near multi-months high despite dollar\u2019s rebound due to diminished expectations towards Federal Reserve with regards to interest rate hike for 2019.<\/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

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 ECB Publishes Account of Monetary Policy Meeting<\/p>\n

01:35 (22nd<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Gov Poloz Speaks<\/p>\n

\u00a0<\/u><\/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\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nEUR \u2013 German Manufacturing PMI<\/td>\n49.7<\/td>\n50.0<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Markit Composite PMI (Feb)<\/td>\n51.0<\/td>\n51.1<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Dec)<\/td>\n-0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n239K<\/td>\n220K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (Feb)<\/td>\n17.0<\/td>\n15.6<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUSD \u2013 Markit Composite PMI (Feb)<\/td>\n54.4<\/td>\n55.1<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Existing Home Sales (Jan)<\/td>\n4.99M<\/td>\n5.01M<\/td>\n–<\/td>\n<\/tr>\n
00:00 (22nd<\/sup>)<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n3.633M<\/td>\n3.080M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower following prior retracement from the resistance level 96.40. MACD which illustrate diminishing bullish momentum suggest the index to extend its losses towards the support level at 96.10.<\/p>\n

 <\/p>\n

Resistance level: 96.40, 97.00<\/p>\n

Support level: 96.10, 95.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level 1.3070. MACD which display bearish bias signal suggest the pair to extend its retracement towards the support level 1.2975.<\/p>\n

 <\/p>\n

Resistance level: 1.3070, 1.3155<\/p>\n

Support level: 1.2975, 1.2875<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1350. MACD which illustrate diminishing bullish momentum suggest the pair to undergo technical correction toward the support level at 1.1300.<\/p>\n

 <\/p>\n

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

Support level: 1.1300, 1.1260<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was lower following prior retracement near the sideway top level at 110.90. Due to lack of signal from MACD, a retracement from or breakout above the resistance level is required to attain further confirmation before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 110.90, 111.05<\/p>\n

Support level: 110.60, 110.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7145. MACD which display diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 0.7200.<\/p>\n

 <\/p>\n

Resistance level: 0.7200, 0.7290<\/p>\n

Support level: 0.7145, 0.7060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6845. MACD which illustrate bearish momentum suggest the pair to extend its losses after successfully breakout the support level at 0.6845.<\/p>\n

 <\/p>\n

Resistance level: 0.6885, 0.6935<\/p>\n

Support level: 0.6845, 0.6815<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4:<\/strong> USDCAD was traded higher following prior rebound from its low level. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level at 1.3195.<\/p>\n

 <\/p>\n

Resistance level: 1.3195, 1.3265<\/p>\n

Support level: 1.3145, 1.3090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from support level 0.9990. MACD which illustrate bullish bias signal suggest the pair to extend its rebound towards the resistance level 1.0025.<\/p>\n

 <\/p>\n

Resistance level: 1.0025, 1.0090<\/p>\n

Support level: 0.9990, 0.9945<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 56.55. MACD which illustrate bullish momentum suggest the commodity to extend its gains toward the resistance level at 57.75.<\/p>\n

 <\/p>\n

Resistance level: 57.75, 59.25<\/p>\n

Support level: 56.55, 55.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1344.75. MACD which illustrate bearish momentum with the starting formation of death cross suggest the commodity to extend its losses toward the support level at 1337.20.<\/p>\n

 <\/p>\n

Resistance level: 1344.75, 1355.40<\/p>\n

Support level: 1337.20, 1323.15<\/p>\n","protected":false},"excerpt":{"rendered":"

21 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   Dollar mixed as trade talk deadline approaches. US dollar was traded mixed during mid-Asian trading session while market participants continues to monitor ongoing trade negotiations between Washington and Beijing. According to sources, both US and China have started to outline their commitments with regards to trade dispute, setting […]<\/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\/47460"}],"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=47460"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/47460\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=47460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=47460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=47460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}