{"id":51826,"date":"2019-04-01T05:21:45","date_gmt":"2019-04-01T05:21:45","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=51826"},"modified":"2019-04-01T05:21:45","modified_gmt":"2019-04-01T05:21:45","slug":"010419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/010419-afternoon-session-analysis\/","title":{"rendered":"010419 Afternoon Session Analysis"},"content":{"rendered":"

1 April 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 Afternoon Session Analysis<\/strong><\/p>\n

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Caixin flying colors, AUD rose further.<\/strong><\/span><\/p>\n

Australian dollar extended its gains during mid-Asian trading session following better-than-expected economic data from China. According to Caixin, its manufacturing PMI for the month of March ticked higher to 50.8, beating expected reading of 49.9 by a big margin. The return of the data to expansionary territory (50 and above) has dialed down market concern for a possible slowdown from one of the world\u2019s largest economy. As China is one of the major trade partners of Australia, any economic news from the region could bring market momentum to the Australian dollar. As of writing, pair of AUD\/USD rose 0.39% to 0.7123. On the other hand, pair of USD\/JPY advanced up by 0.23% to 111.09. Japanese yen received some bearish pressure in the FX market following bearish economic release this morning. According to Tankan, both of its Large Manufacturers Index and Non-Manufacturers Index for first quarter missed economist expectation with 12 and 21 respectively. Both reports have further cemented dovish outlook from the Bank of Japan which may adopt further policy easing if necessary.<\/p>\n

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As for commodities market, crude oil price extended gains up 0.55% to $60.31 per barrel. Oil prices push higher since early Asian session following concerns for a possible supply shortage in the global market. Similarly, gold price rose 0.11% to $1,293.63 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\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\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

02:55 (2nd<\/sup>)\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 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

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Mar)<\/td>\n44.7<\/td>\n44.7<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing PMI (Mar)<\/td>\n52.0<\/td>\n51.2<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Mar)<\/td>\n1.5%<\/td>\n1.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Retail Sales<\/td>\n0.9%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Retail Sales (MoM)(Feb)<\/td>\n0.2%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Mar)<\/td>\n54.2<\/td>\n54.2<\/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 following prior retracement from the resistance level at 96.80. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest index to extend its losses toward the support level at 96.40.<\/p>\n

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

Support level: 96.40, 96.15
\n<\/strong><\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3005. MACD which display diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 1.3070.<\/p>\n

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Resistance level: 1.3070, 1.3145<\/p>\n

Support level: 1.3005, 1.2965<\/p>\n

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EURUSD, H4:<\/strong> EURUSD was traded higher following prior rebound from the support level 1.1220. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.1280.<\/p>\n

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Resistance level: 1.1280, 1.1320<\/p>\n

Support level: 1.1220, 1.1180<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout the previous resistance level at 110.85. MACD which display bullish signals suggest the pair to extend its gains toward the resistance level at 111.40.<\/p>\n

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Resistance level: 111.40, 112.00<\/p>\n

Support level: 110.85, 110.35<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7120. MACD which display bullish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout the resistance level at 0.7120.<\/p>\n

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

Support level: 0.7070, 0.7005<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6820. MACD which illustrate bullish momentum suggest the pair to extend its gains toward the resistance level at 0.6865.<\/p>\n

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Resistance level: 0.6865, 0.6895<\/p>\n

Support level: 0.6820, 0.6775<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3345. MACD which illustrate bearish bias momentum suggest the pair to extend its losses after successfully breakout the support level at 1.3345.<\/p>\n

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Resistance level: 1.3375, 1.3440<\/p>\n

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

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USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9965. However, MACD which display diminishing bullish momentum and the formation of death cross suggest the pair to be trade lower in short term toward the support level at 0.9930.<\/p>\n

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Resistance level: 0.9965, 0.9985<\/p>\n

Support level: 0.9930, 0.9895<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous channel top level at 60.25. MACD which display bullish bias momentum suggest the commodity to extend its gains towards the resistance level 61.25.<\/p>\n

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Resistance level: 61.25, 62.60<\/p>\n

Support level: 60.25, 59.70<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1291.80. MACD which illustrate bullish momentum and the formation of golden cross suggest gold to extend its gains toward the resistance level at 1300.25.<\/p>\n

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Resistance level: 1300.25, 1308.15<\/p>\n

Support level: 1291.80, 1283.70<\/p>\n","protected":false},"excerpt":{"rendered":"

1 April 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 Afternoon Session Analysis     Caixin flying colors, AUD rose further. Australian dollar extended its gains during mid-Asian trading session following better-than-expected economic data from China. According to Caixin, its manufacturing PMI for the month of March ticked higher to 50.8, beating expected reading of 49.9 by a big margin. The return […]<\/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\/51826"}],"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=51826"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/51826\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=51826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=51826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=51826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}