{"id":53816,"date":"2019-04-12T07:35:38","date_gmt":"2019-04-12T07:35:38","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=53816"},"modified":"2019-04-12T07:35:38","modified_gmt":"2019-04-12T07:35:38","slug":"120419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120419-afternoon-session-analysis\/","title":{"rendered":"120419 Afternoon Session Analysis"},"content":{"rendered":"

12 April 2019\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

Greenback droops albeit limited by optimistic data.<\/strong><\/p>\n

Dollar index which measures its strength against a basket of six major currencies have edge lower by 0.19% to 96.55 at the time of writing after investors book their profit following price surge due to robust data. The data which was released on Thursday have displayed that U.S jobless claims have dropped to 196K which is 1\/2-year low, indicating that US labor market remains stable and resilient. In addition, US Producer prices increased by 0.6%, its largest upsurge since October 2018. Due to the lack of market catalyst as of now, investors book their gains while currently remain in focus upon future economic releases from the region. On the other hand, AUD\/USD fell 0.05% to 0.7125 following the release of Reserve Bank of Australia\u2019s (RBA) Financial Stability Review report. According to the report, RBA stated that overall growth forecasts is being revised lower while noting significant risks in Australia. At the same time, the report also stated there are various vulnerabilities upon key trading partners and global financial system.<\/p>\n

 <\/p>\n

As for commodities, crude oil price extended its depreciation by 0.06% to $63.73 per barrel as of writing following plans of OPEC to mull output hike. Recent reports stated that OPEC may raise output in July if Venezuelan and Iranian supplies fall further and prices keep rallying due to persistent production cuts with Russia and other allies. On the other hand, gold price fell 0.05% to $1292.53 a troy ounce as the safe-haven metal pressured by a rebound in US dollar.<\/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\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 Industrial Production (MoM) (Feb)<\/td>\n1.4%<\/td>\n-0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Import Price Index (MoM) (Mar)<\/td>\n0.6%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Apr)<\/td>\n98.4<\/td>\n98.1<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/p>\n

(13th<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n831<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/u><\/strong><\/p>\n


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

\u00a0<\/u><\/strong><\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from upper levels. MACD which illustrate diminishing bullish momentum suggest index to extend its retracement towards the support level 96.45.<\/p>\n

 <\/p>\n

Resistance level: 97.00, 97.60<\/p>\n

Support level: 96.45, 95.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from lower levels. MACD which illustrate persistent bullish momentum suggest the pair to extend its rebound towards the resistance level 1.3100.<\/p>\n

 <\/p>\n

Resistance level: 1.3100, 1.3185<\/p>\n

Support level: 1.3020, 1.2965<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above previous resistance level 1.1280. MACD which illustrate bullish bias signal suggest the pair to extend its gains towards the resistance level 1.1335.<\/p>\n

 <\/p>\n

Resistance level: 1.1335, 1.1400<\/p>\n

Support level: 1.1280, 1.1230<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance level 111.80. MACD which illustrate bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 111.80, 112.35<\/p>\n

Support level: 111.45, 110.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level of 0.7130. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7130, 0.7155<\/p>\n

Support level: 0.7095, 0.7070<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was higher following prior rebound from low-levels. MACD which display diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 0.6745.<\/p>\n

 <\/p>\n

Resistance level: 0.6745, 0.6795<\/p>\n

Support level: 0.6720, 0.6660<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from its top-levels. MACD which illustrate bearish bias signal suggest the pair to extend its retracement towards the support level 1.3335.<\/p>\n

 <\/p>\n

Resistance level: 1.3400, 1.3440<\/p>\n

Support level: 1.3335, 1.3295<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level 1.0030. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 0.9980.<\/p>\n

 <\/p>\n

Resistance level: 1.0030, 1.0070<\/p>\n

Support level: 0.9980, 0.9935<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher after successfully closing above the previous resistance level 63.70. MACD which display diminishing bearish momentum suggest the commodity to extend its gains towards the resistance level 64.65.<\/p>\n

 <\/p>\n

Resistance level: 64.65, 66.00<\/p>\n

Support level: 63.70, 62.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout from the support of 1295.65. However, MACD which illustrate diminishing bearish momentum suggest gold to undergo short-term technical correction and rebound towards the resistance level 1295.65.<\/p>\n

 <\/p>\n

Resistance level: 1295.65, 1304.00<\/p>\n

Support level: 1287.50, 1280.10<\/p>\n","protected":false},"excerpt":{"rendered":"

12 April 2019\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   Greenback droops albeit limited by optimistic data. Dollar index which measures its strength against a basket of six major currencies have edge lower by 0.19% to 96.55 at the time of writing after investors book their profit following price surge due to robust data. The data which was […]<\/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\/53816"}],"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=53816"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/53816\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=53816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=53816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=53816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}