{"id":58539,"date":"2019-05-13T05:29:37","date_gmt":"2019-05-13T05:29:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=58539"},"modified":"2019-05-13T05:29:37","modified_gmt":"2019-05-13T05:29:37","slug":"130519-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130519-afternoon-session-analysis\/","title":{"rendered":"130519 Afternoon Session Analysis"},"content":{"rendered":"

13 May 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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Trade talk stalled; sentiment turn sour.<\/strong><\/span><\/p>\n

Australian dollar slips further on Monday following latest escalation in trade war between the United States and China. Two of the world\u2019s largest economy meets at a deadlock over trade negotiation last Sunday after Washington demanded concrete promises of changes to the Chinese law while Beijing reiterates to not adhere to any changes that may harm its interest. The trade conflict has worsened following US decision to hike prior tariff rate upon $200 billion worth of Chinese goods last Friday, in which China vowed to take retaliation against such measures. Trade conflict between US and China may hinder global economic growth and jeopardize countries which has major trade links with the latter. For the time being, investors will be remained fixated upon the ongoing US-China trade talk while US President Donald Trump and Chinese President Xi Jinping is likely to meet during G20 summit in Japan by the end of June. As of writing, pair of AUD\/USD tumbled 0.33% to 0.6977 during Asian trading session.<\/p>\n

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In the commodities market, crude oil price oscillates between gains and losses around $61.55 per barrel. Oil prices continues to be traded in a tight range while investors gauge the substantial impact from US-led sanction against Iran and a fallout in trade negotiations between US and China. Otherwise, gold price slumped 0.11% to $1,284.51 a troy ounce following a recovery in US dollar.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 HKD\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 Replacement \u2013 Buddha\u2019s Birthday<\/p>\n

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Today\u2019s Highlight Event<\/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 Economic Data<\/u><\/p>\n

N\/A<\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was higher following prior rebound from the support level 97.00. MACD which illustrate diminishing bearish momentum suggest index to extend its rebound towards the resistance level 97.60.<\/p>\n

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

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

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GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing near the support level 1.3000. However, due to lack of signal and momentum from the MACD, a breakout below or rebound from the support level is required to obtain further confirmation before entering the market.<\/p>\n

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

Support level: 1.3000, 1.2925<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level 1.1240. MACD which illustrate bearish bias signal suggest the pair to extend its retracement towards the support level 1.1185.<\/p>\n

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

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

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USDJPY, H4: <\/strong>USDJPY was traded higher after rebounding from the support level 109.45. MACD which illustrate bullish bias signal suggest the pair to extend its rebound towards the resistance level 110.10.<\/p>\n

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Resistance level: 110.10, 110.55<\/p>\n

Support level: 109.45, 108.70<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level 0.6970. MACD which display starting bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

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Resistance level: 0.7035, 0.7065<\/p>\n

Support level: 0.6995, 0.6965<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.6580. MACD which display bearish bias signal suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

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Resistance level: 0.6635, 0.6675<\/p>\n

Support level: 0.6580, 0.6540<\/p>\n

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

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

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

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USDCHF, H4: <\/strong>USDCHF was traded lower after breaking below previous support level at 1.0130. However, MACD which illustrate diminishing bearish momentum suggest the pair to undergo short-term technical correction and be traded higher back towards the resistance level at 1.0130.<\/p>\n

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Resistance level: 1.0130, 1.0190
\nSupport level: 1.0070, 1.0015<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price remained traded in a sideway channel after rebounding from the bottom-level of the channel. However, due to lack of signal and momentum from the MACD, a breakout above or below the sideway channel is required for further confirmation before entering the market.<\/p>\n

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Resistance level: 61.80, 63.15<\/p>\n

Support level: 60.15, 58.45<\/p>\n

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GOLD_, H4: <\/strong>Gold price remained traded in a sideway channel after retracing from the top-level at resistance level 1287.85. MACD which illustrate bearish momentum with the formation of death cross suggest gold to extend its retracement towards the support level 1277.30.<\/p>\n

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Resistance level: 1287.85, 1295.65<\/p>\n

Support level: 1277.30, 1266.35<\/p>\n","protected":false},"excerpt":{"rendered":"

13 May 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     Trade talk stalled; sentiment turn sour. Australian dollar slips further on Monday following latest escalation in trade war between the United States and China. Two of the world\u2019s largest economy meets at a deadlock over trade negotiation last Sunday after Washington demanded concrete promises of changes to […]<\/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\/58539"}],"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=58539"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/58539\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=58539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=58539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=58539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}