{"id":48044,"date":"2019-02-27T06:56:19","date_gmt":"2019-02-27T06:56:19","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=48044"},"modified":"2019-02-27T06:56:19","modified_gmt":"2019-02-27T06:56:19","slug":"270219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/270219-afternoon-session-analysis\/","title":{"rendered":"270219 Afternoon Session Analysis"},"content":{"rendered":"

27 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar on defensive ahead of Powell\u2019s second testimonial.<\/strong><\/span><\/p>\n

Dollar index remained pressured against a basket of six major currency pair as market sentiment remains affected by Fed Chairman Jerome Powell\u2019s dovish remarks recently in his speech on Tuesday. Despite appreciating consumer\u2019s confidence and upbeat housing data release on Tuesday, the data was unable to spark joy for market participants as Fed Chairman Jerome Powell reiterate its plans to stay patient on monetary policy and adjusting balance sheet according to economic outlook. Market participants currently remain in cautious as they await further iteration from Powell\u2019s second testimonial in Washington, DC today which could trigger a major momentum. Dollar index was down 0.05% to 95.86 as of writing. Meanwhile NZDUSD slips 0.07% to 0.6885 as of writing following New Zealand Trade Balance data shows weaker than expected reading with -914M against economist forecast reading of -300M, indicating an economy slowdown in New Zealand.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.11% to to $55.85 per barrel as recent news cited OPEC and its allies have reaffirmed their thoughts to continue stick to the plan of supply cut despite pressure from US President. On the other hand, gold price remains steady and edge up 0.09% to 1327.75 as dollar weakness continue to support the demand for the safe-haven gold.<\/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 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 Testifies<\/p>\n

 <\/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
21:30<\/td>\nCAD \u2013 Core CPI (MoM) (Jan)<\/td>\n-0.2%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Dec)<\/td>\n-0.6%<\/td>\n1.5%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Jan)<\/td>\n-2.2%<\/td>\n0.8%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 EIA Crude Oil Inventories<\/td>\n3.672M<\/td>\n2.842M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below previous support level at 96.05. MACD which illustrate bearish momentum suggest dollar to extend its losses towards the support level at 95.55.<\/p>\n

 <\/p>\n

Resistance level: 96.05, 96.45<\/p>\n

Support level: 95.55, 95.15
\n<\/strong><\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from top levels. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level at 1.3205.<\/p>\n

 <\/p>\n

Resistance level: 1.3350, 1.3415<\/p>\n

Support level: 1.3205, 1.3065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the resistance level 1.1390. MACD which display bearish momentum with the formation of death cross suggest the pair to extend its retracement towards the support level at 1.1355.<\/p>\n

 <\/p>\n

Resistance level: 1.1390, 1.1445<\/p>\n

Support level: 1.1355, 1.1300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the bottom-level of the sideway channel. MACD which illustrate bearish momentum suggest the pair to extend its losses after breaking below the support level at 110.50.<\/p>\n

 <\/p>\n

Resistance level: 110.90, 111.35<\/p>\n

Support level: 110.50, 110.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance level 0.7190. MACD which illustrate bearish bias signal suggest the pair to undergo short-term technical correction and retrace towards the support level 0.7155.<\/p>\n

 <\/p>\n

Resistance level: 0.7190, 0.7225<\/p>\n

Support level: 0.7155, 0.7130<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level 0.6905. MACD which display diminished bullish momentum suggest the pair to extend its retracement towards the support level 0.6875.<\/p>\n

 <\/p>\n

Resistance level: 0.6905, 0.6935<\/p>\n

Support level: 0.6875, 0.6845<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3200. MACD which illustrate diminished bullish momentum suggest the pair to extend its losses towards the support level at 1.3125.<\/p>\n

 <\/p>\n

Resistance level: 1.3200, 1.3260<\/p>\n

Support level: 1.3125, 1.3060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level 0.9985. MACD which display bullish bias signal suggest the pair to extend its rebound towards the resistance level 1.0025.<\/p>\n

 <\/p>\n

Resistance level: 1.0025, 1.0085<\/p>\n

Support level: 0.9985, 0.9910<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout from previous resistance level at 55.75. MACD which illustrate bullish bias signal suggest the commodity to extend its gains towards the resistance level 57.50.<\/p>\n

 <\/p>\n

Resistance level: 57.50, 59.20<\/p>\n

Support level: 55.75, 54.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1325.65. MACD which illustrate bearish bias signal suggest gold to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1340.55, 1353.10<\/p>\n

Support level: 1325.65, 1315.05<\/p>\n","protected":false},"excerpt":{"rendered":"

27 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 Afternoon Session Analysis   Dollar on defensive ahead of Powell\u2019s second testimonial. Dollar index remained pressured against a basket of six major currency pair as market sentiment remains affected by Fed Chairman Jerome Powell\u2019s dovish remarks recently in his speech on Tuesday. Despite appreciating consumer\u2019s confidence and upbeat housing data release on […]<\/p>\n","protected":false},"author":44,"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\/48044"}],"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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=48044"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/48044\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=48044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=48044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=48044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}