{"id":56964,"date":"2019-05-02T06:15:38","date_gmt":"2019-05-02T06:15:38","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=56964"},"modified":"2019-05-02T06:15:38","modified_gmt":"2019-05-02T06:15:38","slug":"020519-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/020519-afternoon-session-analysis\/","title":{"rendered":"020519 Afternoon Session Analysis"},"content":{"rendered":"

2 May 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\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie rekindled on trade deal hopes, Kiwi plummets.<\/strong><\/p>\n

The Australian Dollar have regained its bullish momentum against the greenback following reports of positive U.S-Sino trade deals. According to reports from CNBC, both economic powerhouse U.S and China could announce a trade deal by next Friday. Officials from both sides have wrapped up the most recent round of exchanges in Beijing on Wednesday. Chinese Vice Premier Liu He will go to Washington for more talks in a week. As China is the largest trading partner of Australia, the Aussie also lifted by the positive news. Pair of AUD\/USD rose 0.21% to 0.7025 as of writing. On the other hand, NZD\/USD extend losses by 0.12% to 0.6625 at the time of writing following disappointing job data. According to Statistic New Zealand, employment change have decreased by -0.2% which is weaker than expected reading of 0.5%. The weak job data may heighten expectations for an interest rate cut from Reserve Bank Of New Zealand, thus sending market into a sell-off frenzy for the Kiwi.<\/p>\n

 <\/p>\n

As for commodities, crude oil price dips 0.27% to $63.38 per barrel as of writing following record on U.S output. According to Energy Information Administration (EIA), U.S. crude stockpiles have rose to their highest since September 2017 last week which the stock jumped by 9.9 million barrels to 470.6 barrels, setting a record high of 12.3 million barrels per day (bpd). Next, gold price slips further 0.20% to $1274.22 per troy ounce as of writing following recovering dollar lifted by recent FOMC meeting.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Japan\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Holiday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 China\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Labor Day<\/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

17:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0 EU Economic Forecasts<\/p>\n

19:00\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\u00a0 BoE Inflation Report<\/p>\n

19:00\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\u00a0 BoE MPC Meeting Minutes<\/p>\n

19:30\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\u00a0 BoE Gov Carney Speaks<\/p>\n

 <\/p>\n

 <\/p>\n

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
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Apr)<\/td>\n44.5<\/td>\n44.5<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Construction PMI (Apr)<\/td>\n49.7<\/td>\n50.4<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP \u2013 BoE Interest Rate Decision (May)<\/td>\n0.75%<\/td>\n0.75%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n230K<\/td>\n220K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Unit Labor Costs (QoQ) (Q1)<\/td>\n2.0%<\/td>\n1.5%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing near the 20-MA line (green). MACD which illustrate bias bullish signal suggest index to extend its gains after successfully closing above the 20-MA line.<\/p>\n

 <\/p>\n

Resistance level: 97.60, 98.25<\/p>\n

Support level: 97.00, 96.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower after retracing from the resistance level 1.3105. MACD which display diminishing bullish momentum suggest the pair to extend its retracement towards the support level 1.3015.<\/p>\n

 <\/p>\n

Resistance level: 1.3105, 1.3185<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing both MA line. However, MACD which display bearish bias signal suggest the pair to undergo short-term technical correction and retrace back towards the support level 1.1185.<\/p>\n

 <\/p>\n

Resistance level: 1.1240, 1.1305<\/p>\n

Support level: 1.1185, 1.1145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level 111.35. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 111.75.<\/p>\n

 <\/p>\n

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

Support level: 111.35, 110.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher while currently testing the 20-MA line (green). MACD which illustrate starting bullish momentum and the formation of golden cross suggest the pair to extend its gains after successfully closing above the 20-MA line.<\/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, H1: <\/strong>NZDUSD was traded higher while currently testing near the resistance level 0.6635. MACD which illustrate bullish momentum and the starting formation of golden cross suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6635, 0.6670<\/p>\n

Support level: 0.6610, 0.6580<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing near the resistance level 1.3435. MACD which illustrate bullish momentum with the formation of golden cross suggest the pair to extend its gains after successfully closing above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3435, 1.3485<\/p>\n

Support level: 1.3380, 1.3305<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the 20-MA line (green). MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after successfully closing above the 20-MA line and resistance level 1.0190.<\/p>\n

 <\/p>\n

Resistance level: 1.0190, 1.0265
\nSupport level: 1.0100, 0.9980<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the 20-MA line (green). MACD which illustrate persistent bullish momentum suggest the commodity to extend its gains after successfully closing above the 20-MA line.<\/p>\n

 <\/p>\n

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

Support level: 63.15, 61.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price traded lower after successfully breaking below the support level 1277.30. MACD which display ongoing bearish momentum suggest gold to extend its losses towards the support level 1266.35<\/p>\n

 <\/p>\n

Resistance level: 1277.30, 1285.80<\/p>\n

Support level: 1266.35, 1253.25<\/p>\n","protected":false},"excerpt":{"rendered":"

2 May 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\u00a0 Afternoon Session Analysis   Aussie rekindled on trade deal hopes, Kiwi plummets. The Australian Dollar have regained its bullish momentum against the greenback following reports of positive U.S-Sino trade deals. According to reports from CNBC, both economic powerhouse U.S and China could announce a trade deal by next Friday. Officials from both […]<\/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\/56964"}],"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=56964"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/56964\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=56964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=56964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=56964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}