{"id":52948,"date":"2019-04-08T06:51:00","date_gmt":"2019-04-08T06:51:00","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=52948"},"modified":"2019-04-08T06:51:00","modified_gmt":"2019-04-08T06:51:00","slug":"080419-afternoon-session-analysis-2","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080419-afternoon-session-analysis-2\/","title":{"rendered":"080419 Afternoon Session Analysis"},"content":{"rendered":"

8 <\/strong>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

Dollar hold gains as job reports continue to weigh.<\/strong><\/p>\n

Dollar index managed to retain its gains following market sentiment which remains positive after last Friday release on U.S jobs report. The upbeat data on nonfarm payrolls which rose by a solid 196,000 in March have eased investors\u2019 fear of a sharper slowdown in the world\u2019s largest economy. At the same, U.S-Sino trade talk also provide positive news as both nations are inching closer to a trade deal following both powerhouses will be talking again this week via teleconferencing, according to reports. The greenback edge higher 0.06% to 96.95 as of writing. On the contrary, USD\/JPY have fell 0.33% to 111.36 at the time of writing following upbeat data and geopolitical tension. Japan\u2019s current account and trade balance data have surpassed forecast and prior, which in turn offered an initial short-covering to the Japanese Yen. Besides that, US Secretary of State Mike Pompeo urged Libyan National Army to stop its offensive on Tripoli highlighted the latest geopolitical tensions in Libya, adding further to the positive momentum for the Yen as market seeks for safe-haven currency such as Yen to evade risk.<\/p>\n

 <\/p>\n

As for commodities, crude oil price surge 0.22% to $63.30 per barrel following ongoing optimism by OPEC supply cut with addition of Iran and Venezuela sanctions. Oil price rose to its highest since five month which currently continue to be driven by supply cuts which already last for 4 months in a row and various sanctions that reduce the supply even further. Besides that, geopolitical tensions in Libya also boosted further price as escalating conflict in OPEC producer Libya already raising supply concerns. On the other hand, gold price skyrocketed 0.37% to $1296.03 a troy ounce at the time of writing as the safe-haven metal was unfazed by strong U.S jobs report following China in demand for the yellow metal to increase their gold supply.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Feb)<\/td>\n0.1%<\/td>\n-0.5%<\/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 in a sideway channel following prior retracement from the resistance level 97.00. MACD which illustrate bearish bias signal with the formation of death cross suggest the dollar to extend its retracement towards the support level 96.50.<\/p>\n

 <\/p>\n

Resistance level: 97.00, 97.65<\/p>\n

Support level: 96.50, 96.20
\n<\/strong><\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following breakout above the previous resistance level 1.3065. MACD which illustrate diminishing bearish momentum suggest the pair extend its gains towards the resistance level 1.3185.<\/p>\n

 <\/p>\n

Resistance level: 1.3185, 1.3350<\/p>\n

Support level: 1.3045, 1.2960<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4:<\/strong> EURUSD was traded higher following prior rebound from the support level 1.1215. MACD which illustrate bullish momentum with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.1275.<\/p>\n

 <\/p>\n

Resistance level: 1.1275, 1.1325<\/p>\n

Support level: 1.1215, 1.1180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level 111.30. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level 111.30.<\/p>\n

 <\/p>\n

Resistance level: 111.75, 112.10<\/p>\n

Support level: 111.30, 110.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD remain traded in a sideway channel following recent retracement from the resistance level 0.7120. MACD which display bearish momentum with the formation of death cross suggest the pair to extend its retracement towards the support level 0.7070.<\/p>\n

 <\/p>\n

Resistance level: 0.7120, 0.7155<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6725.MACD which illustrate bullish bias signal suggest the pair to extend its rebound towards the resistance level 0.6770.<\/p>\n

 <\/p>\n

Resistance level: 0.6770, 0.6815<\/p>\n

Support level: 0.6725, 0.6680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from its high levels. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 1.3365.<\/p>\n

 <\/p>\n

Resistance level: 1.3460, 1.3570<\/p>\n

Support level: 1.3365, 1.3295<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level 1.0000. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its retracement towards the support level 0.9965.<\/p>\n

 <\/p>\n

Resistance level: 1.0000, 1.0025<\/p>\n

Support level: 0.9965, 0.9910<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level 62.50. However, MACD which illustrate diminishing bullish momentum suggest the commodity to experience a technical correction in short term towards the support level 62.50.<\/p>\n

 <\/p>\n

Resistance level: 64.10, 65.90<\/p>\n

Support level: 62.50, 60.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remain traded in a sideway channel following recent rebound from the support level 1287.00. MACD which illustrate bullish momentum suggest the commodity to extend its rebound towards the resistance level 1298.05.<\/p>\n

 <\/p>\n

Resistance level: 1298.05, 1308.10<\/p>\n

Support level: 1287.00, 1280.85<\/p>\n","protected":false},"excerpt":{"rendered":"

8 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   Dollar hold gains as job reports continue to weigh. Dollar index managed to retain its gains following market sentiment which remains positive after last Friday release on U.S jobs report. The upbeat data on nonfarm payrolls which rose by a solid 196,000 in March have eased investors\u2019 fear […]<\/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\/52948"}],"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=52948"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/52948\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=52948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=52948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=52948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}