{"id":55374,"date":"2019-04-23T06:16:58","date_gmt":"2019-04-23T06:16:58","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=55374"},"modified":"2019-04-23T06:16:58","modified_gmt":"2019-04-23T06:16:58","slug":"230419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/230419-afternoon-session-analysis\/","title":{"rendered":"230419 Afternoon Session Analysis"},"content":{"rendered":"

23 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 pared losses, Yen gains. <\/strong><\/p>\n

Dollar index measuring against a basket of six major currency pairs pared its losses and edged higher by 0.03% to 96.95 ahead of early European trading session following Bank of Japan\u2019s (BoJ) comments on their monetary policy. Earlier today, BoJ\u2019s executive director Eiji Maeda reiterates that the bank will further ease their monetary policy through various or a combination of steps and also focusing on the impacts and side effects if their target inflation goal of 2% is threatened. It is widely expected that the bank will keep their monetary policy steady during it\u2019s\u2019 policy meeting this Thursday despite their inflation missing its targeted level. BoJ had kept their interest rate level at a low of -0.10% since early 2016 to tackle the country\u2019s deflation however was still unable to push their inflation level higher since. Investors will now focus on the bank\u2019s continuous efforts to raise inflation level and place their confident in the Japanese Yen if the bank\u2019s policy is deemed fitting by the market. As of writing, pair of USD\/JPY fell by 0.06% to 111.86.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price further its gains by 0.29% to $65.84 per barrel. Oil prices continued to be supported by ongoing OPEC production cut as well as the end of sanction waivers for importers of Iranian oil. Likewise, gold price depreciates slightly by 0.02% to $1,274.44 a troy ounce following stronger 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
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Wholesale Sales (MoM) (Feb)<\/td>\n0.6%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 New Home Sales (Mar)<\/td>\n667K<\/td>\n647K<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(24th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-3.096M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index remain traded in a sideway channel while currently testing near the resistance level 97.00. However, MACD which illustrate bearish bias signal with the formation of death cross suggest the dollar to be traded lower as a short term technical correction towards the support level 96.45.<\/p>\n

 <\/p>\n

Resistance level: 97.00, 97.60
\nSupport level: 96.45, 96.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following recent rebound from its low levels. However, Due to lack of momentum and clear signal from MACD, it is suggest the wait until further signal appear such as breakout above the closest resistance level or below the support level before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 1.3020, 1.3115
\nSupport level: 1.2960, 1.2845<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1245. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1280, 1.1325
\nSupport level: 1.1245, 1.1215<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel while currently testing the support level 111.80. MACD which illustrate bearish momentum signal suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 112.10, 112.70
\nSupport level: 111.80, 111.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the support level 0.7130. MACD which illustrate bearish bias signal suggest the pair to extend its losses towards the support level 0.7070.<\/p>\n

 <\/p>\n

Resistance level: 0.7130, 0.7165
\nSupport level: 0.7070, 0.7045<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.6675. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6720, 0.6770
\nSupport level: 0.6670, 0.6640<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remain traded in a sideway channel following recent rebound from its low levels. MACD which illustrate bullish bias signal suggest the pair to be traded higher towards the resistance level 1.3380.<\/p>\n

 <\/p>\n

Resistance level: 1.3380, 1.3460
\nSupport level: 1.3295, 1.3220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 1.0160. However, MACD which illustrate bearish bias signal suggest the pair to experience a short term technical correction towards the support level 1.0115.<\/p>\n

 <\/p>\n

Resistance level: 1.0160, 1.0175
\nSupport level: 1.0115, 1.0080<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil was traded higher while currently testing the resistance level 65.85. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience a technical correction in short term towards the support level 64.55.<\/p>\n

 <\/p>\n

Resistance level: 65.85, 67.85
\nSupport level: 64.55, 63.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded in a sideway channel following recent retracement from the resistance level 1280.45. MACD which illustrate bearish bias signal suggest the commodity to extend its retracement towards the support level 1272.05.<\/p>\n

 <\/p>\n

Resistance level: 1280.45, 1287.00
\nSupport level: 1272.05, 1264.60<\/p>\n","protected":false},"excerpt":{"rendered":"

23 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 pared losses, Yen gains. Dollar index measuring against a basket of six major currency pairs pared its losses and edged higher by 0.03% to 96.95 ahead of early European trading session following Bank of Japan\u2019s (BoJ) comments on their monetary policy. Earlier today, BoJ\u2019s executive director Eiji […]<\/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\/55374"}],"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=55374"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/55374\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=55374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=55374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=55374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}