{"id":54513,"date":"2019-04-17T05:39:49","date_gmt":"2019-04-17T05:39:49","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=54513"},"modified":"2019-04-17T05:52:50","modified_gmt":"2019-04-17T05:52:50","slug":"170419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170419-afternoon-session-analysis\/","title":{"rendered":"170419 Afternoon Session Analysis"},"content":{"rendered":"

17 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

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China shines, AUD flies.<\/strong><\/span><\/p>\n

Australian dollar extended its gains during Asian trading session following better-than-expected economic data from its major trade partner \u2013 China. Official data from China showed that its economy expanded at an annualized rate of 6.4% for the first quarter of 2019, exceeding economist forecast for a growth of up to 6.3%. The data confounded investors\u2019 worries over a possible slowdown in the world\u2019s second largest economy after International Monetary Fund (IMF) gave bearish assessments with regards to global economic growth for the year 2019. As of writing, the pair of AUD\/USD rose 0.16% to 0.7187, its highest level in 8-weeks. On the other hand, pair of EUR\/USD recovered its losses by 0.17% to 1.1300 this morning. Euro received tremendous bearish selloff on yesterday following dovish rhetoric given by the European Central Bank (ECB). According to ECB, they expressed their doubts over prior economic projection and its model used as they are deemed too optimistic. Such signal has further piled up market concern over the economic progression in EU as recent data portrays some recessive risk in the region.<\/p>\n

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As for commodities, crude oil price rose 0.19% to $64.43 per barrel. Oil prices extended its gains following the release of bullish China data which has eased market concern over global economic recession. Otherwise, gold price ticked down 0.01% to $1,276.83 a troy ounce due to diminishing risks in the market.<\/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

21.00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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 BoE Gov Carney Speaks<\/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>\nGBP \u2013 CPI (MoM) (Mar)<\/td>\n0.5%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
16.30<\/td>\nGBP – PPI Input (MoM) (Mar)<\/td>\n0.6%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
17.00<\/td>\nEUR – CPI (YoY) (Mar)<\/td>\n1.4%<\/td>\n1.4%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nCAD – CPI (MoM) (Mar)<\/td>\n1.5%<\/td>\n1.9%<\/td>\n–<\/td>\n<\/tr>\n
22.30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n7.029M<\/td>\n1.711M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the top level of downward channel. MACD which illustrate diminishing bullish momentum suggest index to extend its losses toward the support level at 96.35.<\/p>\n

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Resistance level: 96.75, 97.05<\/p>\n

Support level: 96.35, 96.15
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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 1.3065.<\/p>\n

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Resistance level: 1.3065, 1.3105<\/p>\n

Support level: 1.3015, 1.2935<\/p>\n

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EURUSD, H4:<\/strong> EURUSD was traded higher following prior rebound from the support level at 1.1280. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.1320.<\/p>\n

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Resistance level: 1.1320, 1.1355<\/p>\n

Support level: 1.1280, 1.1255<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 112.00. MACD which display bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 111.40.<\/p>\n

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Resistance level: 112.00, 112.35<\/p>\n

Support level: 111.40, 110.85<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7195. 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 0.7195.<\/p>\n

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Resistance level: 0.7195, 0.7215<\/p>\n

Support level: 0.7175, 0.7145<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6705.\u00a0 MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 0.6740.<\/p>\n

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Resistance level: 0.6740, 0.6780<\/p>\n

Support level: 0.6705, 0.6675<\/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 diminishing bullish momentum and formation of death cross suggest the pair to extend its losses after successfully breakout the support level at 1.3345.<\/p>\n

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Resistance level: 1.3390, 1.3440<\/p>\n

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

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USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 1.0065. MACD which display diminishing bullish momentum suggest the pair to extend its losses after successfully breakout below the support level at 1.0065.<\/p>\n

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Resistance level: 1.0090, 1.0120<\/p>\n

Support level: 1.0065, 1.0030<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 64.50. MACD which display bullish bias momentum suggest the commodity to extend its gains after successfully breakout above the resistance level at 64.50.<\/p>\n

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Resistance level: 64.50, 65.95<\/p>\n

Support level: 63.45, 62.85<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher from the lower level while currently testing the resistance level at 1277.05. MACD which illustrate diminishing bearish momentum suggest gold to extend gains after successfully breakout above the resistance level at 1277.05.<\/p>\n

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Resistance level: 1277.05, 1284.05<\/p>\n

Support level: 1266.30, 1254.50<\/p>\n","protected":false},"excerpt":{"rendered":"

17 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     China shines, AUD flies. Australian dollar extended its gains during Asian trading session following better-than-expected economic data from its major trade partner \u2013 China. Official data from China showed that its economy expanded at an annualized rate of 6.4% for the first quarter of 2019, exceeding economist […]<\/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\/54513"}],"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=54513"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/54513\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=54513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=54513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=54513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}