{"id":52723,"date":"2019-04-05T06:21:52","date_gmt":"2019-04-05T06:21:52","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=52723"},"modified":"2019-04-05T06:21:52","modified_gmt":"2019-04-05T06:21:52","slug":"050419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/050419-afternoon-session-analysis\/","title":{"rendered":"050419 Afternoon Session Analysis"},"content":{"rendered":"

5 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

 <\/p>\n

 <\/p>\n

Yen depreciates as spending contracts.<\/strong><\/span><\/p>\n

Japanese yen extended its losses during mid-Asian session, buoyed by bearish economic data from the region. For the month of February, Japan\u2019s Household Spending contracted more than expected with -2.0%, missing economist forecast for a contraction up to -0.5%. The data has reiterated Bank of Japan\u2019s projection whereby Japan may fail to achieve its inflation target of 2% within two years. A significant depreciation in household spending may force BoJ to execute more expansionary policy tools in order to support the economy. As such, pair of USD\/JPY appreciates by 0.05% to 111.70. On the other hand, pair of AUD\/USD rose 0.14% to 0.7121 during Asian trading session. Australian dollar was well in bid after recent comments from the United States and Chinese policymakers shows higher chances to untangle trade tension in between both nations. However, gains on the pair of AUD\/USD remains limited as investors places their attention over US Nonfarm Payrolls report which has portrayed outstandingly low reading for February which is deemed to be \u201ctoo low\u201d.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciates by 0.16% to $61.95 per barrel. Oil prices continues its bearish momentum as traders book their profits from prior uptrend. Otherwise, gold price slumped 0.35% to $1,287.80 a troy ounce following diminishing trade war risk between US and China.<\/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

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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

N\/A<\/p>\n

 <\/p>\n

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
20.30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Mar)<\/td>\n0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013 Nonfarm Payrolls (Mar)<\/td>\n20K<\/td>\n175K<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013 Unemployment Rate (Mar)<\/td>\n3.8%<\/td>\n3.8%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nCAD \u2013Employment Change (Mar)<\/td>\n55.9K<\/td>\n-10.0K<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nCAD \u2013 Unemployment Rate (Mar)<\/td>\n5.8%<\/td>\n5.8%<\/td>\n–<\/td>\n<\/tr>\n
01.00<\/p>\n

\uff086th<\/sup>\uff09<\/td>\n

CrudeOIL – U.S. Baker Hughes Oil Rig Count<\/td>\n816<\/td>\n–<\/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 higher following prior breakout above the previous resistance level at 96.80. MACD which illustrate bullish bias momentum and the formation of golden cross suggest index to extend its gains toward the resistance level at 97.05.<\/p>\n

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Resistance level: 97.05, 97.60<\/p>\n

Support level: 96.80, 96.45
\n<\/strong><\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3075. MACD which display diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 1.3145.<\/p>\n

 <\/p>\n

Resistance level: 1.3145, 1.3185<\/p>\n

Support level: 1.3075, 1.3020<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1:<\/strong> EURUSD was traded higher following prior breakout above the previous resistance level at 1.1220. MACD which illustrate bullish bias momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.1250.<\/p>\n

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Resistance level: 1.1250, 1.1280<\/p>\n

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

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 111.40. MACD which display bullish momentum and the formation of golden cross 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: 111.40, 110.85<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the top level of upward channel. MACD which display bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.7145.<\/p>\n

 <\/p>\n

Resistance level: 0.7145, 0.7190<\/p>\n

Support level: 0.7120, 0.7070<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level near 0.6745. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully breakout below the support level at 0.6745.<\/p>\n

 <\/p>\n

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

Support level: 0.6745, 0.6715<\/p>\n

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\"\"<\/p>\n

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

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9995. MACD which display bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.0025.<\/p>\n

 <\/p>\n

Resistance level: 1.0025, 1.0065<\/p>\n

Support level: 0.9995, 0.9965<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 62.85. MACD which display bearish bias momentum suggest the commodity to extend its losses toward the support level at 61.25.<\/p>\n

 <\/p>\n

Resistance level: 62.85, 64.10<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1292.30. MACD which illustrate bearish momentum suggest gold to extend its losses toward the support level at 1283.72.<\/p>\n

 <\/p>\n

Resistance level: 1292.30, 1300.25<\/p>\n

Support level: 1283.70, 1277.05<\/p>\n","protected":false},"excerpt":{"rendered":"

5 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     Yen depreciates as spending contracts. Japanese yen extended its losses during mid-Asian session, buoyed by bearish economic data from the region. For the month of February, Japan\u2019s Household Spending contracted more than expected with -2.0%, missing economist forecast for a contraction up to -0.5%. The data has […]<\/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\/52723"}],"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=52723"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/52723\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=52723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=52723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=52723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}