{"id":50460,"date":"2019-03-22T05:02:34","date_gmt":"2019-03-22T05:02:34","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=50460"},"modified":"2019-03-22T05:02:34","modified_gmt":"2019-03-22T05:02:34","slug":"220319-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220319-afternoon-session-analysis\/","title":{"rendered":"220319-Afternoon Session Analysis"},"content":{"rendered":"

22 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

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With deadline extended, what\u2019s next for Brexit?<\/strong><\/span><\/p>\n

Greenback depreciates slightly during mid-Asian trading session while pound sterling rose over the backdrop of Brexit developments in the UK. According to Reuters, UK Prime Minister Theresa May welcomed the European Union\u2019s decision to delay Brexit, stating that lawmakers in the British parliament now had clear choices on what to be done next. Britain may leave the European Union without a deal on April 12 if lawmakers reject May\u2019s Brexit deal next week. In addition, EU gave the British leader an extra two months, until May 22 if she wins the next week\u2019s vote in the Parliament. However, losses experienced by the US dollar were limited as investors digests bullish economic data from yesterday. Both Initial Jobless Claims and Philadelphia Fed Manufacturing Index came in with flying colors, diminishing some fears in the financial market over possible economic slowdown in the United States. As for today, investors will place their attention upon housing market data from the US to gain further signal with regards to greenback\u2019s near-term direction. As of writing, the dollar index was down 0.20% to 95.75 while pair of GBP\/USD tacks up 0.23% to 1.3137.<\/p>\n

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In the commodities market, crude oil price was traded flat near $59.83 per barrel. Oil prices hovers near 2019 highs amid OPEC supply cuts while its gains were limited by bearish outlook over global economic progression. On the other hand, gold price appreciates by 0.02% to $1,309.09 a troy ounce following weaker greenback.<\/p>\n

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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

Tentative\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 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\u00a0 EU Leaders Summit<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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 – German Manufacturing PMI (Mar)<\/td>\n47.6<\/td>\n48.0<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nCAD \u2013 Core CPI (MoM) (Fed)<\/td>\n0.3%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nCAD – Core Retail Sales (MoM) (Jan)<\/td>\n-0.5%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
22.00<\/td>\nUSD \u2013 Existing Home Sales (Feb)<\/td>\n-1.2%<\/td>\n2.2%<\/td>\n <\/td>\n<\/tr>\n
01.00 (23th)<\/td>\nCrudeOIL – U.S. Baker Hughes Oil Rig Count<\/td>\n833<\/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, H4: <\/strong>Dollar index was traded lower while currently testing near the support level 95.70. MACD which illustrate diminishing bullish momentum suggest index to extend its losses after successfully breakout below the support level at 95.70.<\/p>\n

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

Support level: 95.70, 95.45
\n<\/strong><\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3130. MACD which display diminishing bearish momentum suggest the pair to extend its gains towards the resistance level 1.3220.<\/p>\n

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Resistance level: 1.3220, 1.3295<\/p>\n

Support level: 1.3130, 1.3065<\/p>\n

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EURUSD, H1:<\/strong> EURUSD was traded higher while currently testing the 50 moving average (blue). MACD which display bullish momentum suggest the pair to extend its gains toward the next resistance level after successfully breakout above the 50 moving average line.<\/p>\n

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Resistance level: 1.1395, 1.1425<\/p>\n

Support level: 1.1355, 1.1315<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 110.85. MACD which illustrate diminishing bearish momentum suggest the pair to undergo technical correction in short term toward the resistance level at 110.85.<\/p>\n

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Resistance level: 110.85, 111.10<\/p>\n

Support level: 110.60, 110.35<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below previous support level at 0.7120. MACD which display bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 0.7070.<\/p>\n

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Resistance level: 0.7120, 0.7145<\/p>\n

Support level: 0.7070, 0.7045<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6865. MACD which illustrate bias bullish signal and the formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.6900.<\/p>\n

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Resistance level: 0.6900, 0.6935<\/p>\n

Support level: 0.6865, 0.6840<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the top level. MACD which display diminishing bullish momentum suggest the pair to extend its retracement toward the support level at 1.3345.<\/p>\n

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Resistance level: 1.3405, 1.3460<\/p>\n

Support level: 1.3345, 1.3290<\/p>\n

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USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9930. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after successfully breakout the resistance level at 0.9930.<\/p>\n

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Resistance level: 0.9930, 0.9970<\/p>\n

Support level: 0.9870, 0.9805<\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level 59.70. MACD which display diminishing bearish momentum suggest the commodity to extend its rebound towards the resistance level 60.25.<\/p>\n

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Resistance level: 60.25, 61.25<\/p>\n

Support level: 59.70, 59.05<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1310.35. MACD which illustrate bearish momentum with the formation of death cross suggest gold to extend its losses toward the support level at 1300.25.<\/p>\n

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Resistance level: 1310.35, 1315.00<\/p>\n

Support level: 1300.25, 1292.05<\/p>\n","protected":false},"excerpt":{"rendered":"

22 March 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis     With deadline extended, what\u2019s next for Brexit? Greenback depreciates slightly during mid-Asian trading session while pound sterling rose over the backdrop of Brexit developments in the UK. According to Reuters, UK Prime Minister Theresa May welcomed the European Union\u2019s decision to delay Brexit, stating that lawmakers in […]<\/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\/50460"}],"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=50460"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/50460\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=50460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=50460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=50460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}