{"id":56051,"date":"2019-04-26T06:06:14","date_gmt":"2019-04-26T06:06:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=56051"},"modified":"2019-04-26T06:06:14","modified_gmt":"2019-04-26T06:06:14","slug":"260419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260419-afternoon-session-analysis\/","title":{"rendered":"260419 Afternoon Session Analysis"},"content":{"rendered":"

26 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

Bulls dominate greenback as market awaiting GDP.<\/strong><\/p>\n

Dollar index which measuring against a basket of six major currency pairs remains hovered near two-year high as market sentiment remain boosted by strong U.S durable orders. Although initial jobless claims have shown some weakness in its figure, market remains overall positive as recent data such as retail sales, goods orders and exports also displaying improvement which have eased concerns of economy slowdown in the world\u2019s biggest economy. The markets will now place their focus on the first quarter GDP to determine further momentum for the greenback. Dollar index rose 0.02% to 97.89 as of writing. Meanwhile, NZD\/USD have slowly recover from its losses and rose 0.30% to 0.6640 as of writing following upbeat trade balance data. According to Statistics New Zealand, trade balance in New Zealand have improved $922M, stronger than market expectations with the reading of $131M. Besides that, exports in New Zealand have also improved by $5.70B which is higher than forecasted reading of $5.30B. The strong data which showing signs of strength in New Zealand\u2019s economy have thus regain investors\u2019 confidence in the Kiwi.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price have dipped 0.29% to $64.90 per barrel at the time of writing as market hopes on OPEC in raising output to compensate for decline in Iran\u2019s export. In recent reports, Saudi Arabia oil minister have stated that any output increases made by Saudi Arabia and OPEC would be need-based and not pre-emptively to fill lost Iranian barrels. Despite this, market remains tight as Germany, Poland and Slovakia suspended imports of Russian oil via a major pipeline, citing poor quality which could limit the downside for the commodity. On the other hand, gold price recovers 0.20% to $1279.67 as of writing as mixed U.S data and consolidating U.S stock market support the demand for gold.<\/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


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

\u00a0<\/u><\/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>\nUSD \u2013 GDP (QoQ) (Q1)<\/td>\n2.2%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Apr)<\/td>\n96.9<\/td>\n97.1<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/p>\n

(27th<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n825<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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


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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from its top-levels. MACD which illustrate diminished bullish momentum suggest index to extend its retracement towards the support level 97.60.<\/p>\n

 <\/p>\n

Resistance level: 98.25, 99.55<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from low-levels. MACD which display bullish bias signal and the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 1.2945.<\/p>\n

 <\/p>\n

Resistance level: 1.2945, 1.3015<\/p>\n

Support level: 1.2845, 1.2770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently retesting the resistance level 1.1145. MACD which display diminishing bearish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1145, 1.1180<\/p>\n

Support level: 1.1100, 1.1010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below previous sideway channel at 111.75. MACD which display bearish momentum suggest the pair to extend its losses towards the support level 111.45.<\/p>\n

 <\/p>\n

Resistance level: 111.75, 112.20<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from support level 0.7000. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.7050.<\/p>\n

 <\/p>\n

Resistance level: 0.7050, 0.7090<\/p>\n

Support level: 0.7000, 0.6930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above previous resistance level 0.6630. MACD which display bullish momentum with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.6670.<\/p>\n

 <\/p>\n

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

Support level: 0.6630, 0.6580<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below previous support level 1.3485. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses towards the support level 1.3435.<\/p>\n

 <\/p>\n

Resistance level: 1.3485, 1.3530<\/p>\n

Support level: 1.3435, 1.3380<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support of 1.0190. MACD which illustrate bearish signal suggests the pair to extend its losses in short-term after closing below 1.0190.<\/p>\n

 <\/p>\n

Resistance level: 1.0265, 1.0310<\/p>\n

Support level: 1.0190, 1.0100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level 64.65. MACD which illustrate bearish momentum suggest the commodity to extend its losses after breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 66.00, 67.65<\/p>\n

Support level: 64.65, 63.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the 60-MA line (red). MACD which illustrate persistent bullish momentum suggest gold to extend its gains towards the resistance level 1285.80 after successfully closing above the MA line.<\/p>\n

 <\/p>\n

Resistance level: 1285.80, 1295.65<\/p>\n

Support level: 1277.30, 1268.50<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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   Bulls dominate greenback as market awaiting GDP. Dollar index which measuring against a basket of six major currency pairs remains hovered near two-year high as market sentiment remain boosted by strong U.S durable orders. Although initial jobless claims have shown some weakness in its figure, market remains overall […]<\/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\/56051"}],"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=56051"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/56051\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=56051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=56051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=56051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}