{"id":49606,"date":"2019-03-14T06:04:00","date_gmt":"2019-03-14T06:04:00","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=49606"},"modified":"2019-03-14T06:04:00","modified_gmt":"2019-03-14T06:04:00","slug":"140319-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140319-afternoon-session-analysis\/","title":{"rendered":"140319 Afternoon Session Analysis"},"content":{"rendered":"

14<\/strong> March 2019\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 remains weak as Trump display sign of willingness.<\/strong><\/p>\n

Dollar index extend its losses against basket of six major currency pairs as reports on US President Donald Trump display openness in recent summit with China. According to reports from Bloomberg, US President Donald Trump have stated that he is willing to push back a summit with Chinese Premier Xi Jinping until a final deal is being reached. However, despite recent tone shift from US President Donald Trump, Trump remains stern regarding the fairness in trade deal and warned that he\u2019ll reject a deal that he doesn\u2019t like, which may prolong tensions between both nations. Besides that, current greenback sentiment remains affected by PPI data which reflect further confirmation on Fed to reaffirm its plan for pausing rate hike. Dollar index fell 0.04% to 96.36 as of writing. Meanwhile, AUDUSD remains in red and fell 0.25% to 0.7075 as of writing following mixed China headline data. Despite better than expect China retail sales, China\u2019s factory activity suffered as industrial production missed expectations with the reading of 5.3% against forecast reading 5.5%. Furthermore, ongoing trade tensions between both powerhouses continues to haunt Aussie dollar whereby China is the largest consumer of Australian goods.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price skyrocketed 0.12% to $58.40 per barrel as U.S aims to cut Iran\u2019s crude oil exports by at least 20% to 1 million bpd from May by requiring importing countries to reduce purchases to avoid U.S sanctions, reducing further the supply of crude oil which supported the price. On the other hand, gold price slips 0.20% to $1306.68 a troy ounce at the time of writing due to profit taking after a recent continuous rally in the yellow metal boosted by dollar weakness.<\/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 OPEC Monthly Report<\/p>\n

03:00 (15hb)\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 UK Parliament vote on Extension of Brexit Date<\/p>\n

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

\u00a0<\/u><\/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
15:00<\/td>\nEUR \u2013 German CPI (MoM) (Feb)<\/td>\n0.5%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Import Price Index (MoM) (Feb)<\/td>\n-0.5%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n223K<\/td>\n225K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 New Home Sales (Jan)<\/td>\n621K<\/td>\n622K<\/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 following prior rebound from the support level at 96.40. MACD which illustrate diminishing bearish momentum suggest the index to extend its gains toward the resistance level at 96.80.<\/p>\n

 <\/p>\n

Resistance level: 96.80, 97.20<\/p>\n

Support level: 96.40, 96.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3245. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully breakout the support level at 1.3245.<\/p>\n

 <\/p>\n

Resistance level: 1.3345, 1.3400<\/p>\n

Support level: 1.3245, 1.3180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the upward channel top level. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 1.1315.<\/p>\n

 <\/p>\n

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

Support level: 1.1315, 1.1290<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 111.50. MACD which illustrate bullish bias momentum suggest the pair to extend its gains toward the resistance level at 112.00.<\/p>\n

 <\/p>\n

Resistance level: 112.00, 112.35<\/p>\n

Support level: 111.50, 111.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level at 0.7070. MACD which illustrate diminishing bearish momentum suggest the pair to extend its losses toward the support level at 0.7045.<\/p>\n

 <\/p>\n

Resistance level: 0.7070, 0.7105<\/p>\n

Support level: 0.7045, 0.7005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the higher level. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level 0.6830.<\/p>\n

 <\/p>\n

Resistance level: 0.6875, 0.6900<\/p>\n

Support level: 0.6830, 0.6805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 1.3320.<\/p>\n

 <\/p>\n

Resistance level: 1.3320, 1.3355<\/p>\n

Support level: 1.3260, 1.3195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 1.0025. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 1.0065.<\/p>\n

 <\/p>\n

Resistance level: 1.0065, 1.0090<\/p>\n

Support level: 1.0025, 0.9985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded higher following prior breakout above the channel top level. MACD which illustrate bullish signal suggest the pair to extend its gains toward the resistance level at 59.45.<\/p>\n

 <\/p>\n

Resistance level: 59.45, 61.25<\/p>\n

Support level: 57.65, 55.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded lower following prior retracement from the resistance level at 1310.35. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement toward the support level at 1296.50.<\/p>\n

 <\/p>\n

Resistance level: 1310.35, 1321.10<\/p>\n

Support level: 1296.50, 1283.95<\/p>\n","protected":false},"excerpt":{"rendered":"

14 March 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar remains weak as Trump display sign of willingness. Dollar index extend its losses against basket of six major currency pairs as reports on US President Donald Trump display openness in recent summit with China. According to reports from Bloomberg, US President Donald Trump have stated that he […]<\/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\/49606"}],"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=49606"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/49606\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=49606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=49606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=49606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}