{"id":64811,"date":"2019-06-19T06:40:27","date_gmt":"2019-06-19T06:40:27","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=64811"},"modified":"2019-06-19T06:40:27","modified_gmt":"2019-06-19T06:40:27","slug":"190619-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/190619-afternoon-session-analysis\/","title":{"rendered":"190619 Afternoon Session Analysis"},"content":{"rendered":"

19 June 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

Euro remained stagnant following ECB dovish notes.\u00a0 <\/strong><\/p>\n

Euro was traded flat after European Central Bank (ECB) showed its dovish stance towards future economy outlook. On yesterday, ECB President Mario Draghi commented that they will likely to ease policy again where further rate cut and more asset purchases can be expected if inflation still below its target level. For the time being, Eurozone current inflation rate is at 1.2% and central bank are still trying to stimulate the economy as growth prospects are under pressure from uncertainty about the issue such as US China trade dispute and Brexit. Similarly, recent report shows that German ZEW economic sentiment data came in -21.1, unexpectedly lower than the economic forecast of -5.7 while it indicated that investors are now even more pessimistic toward the EU economy outlook as geopolitical tensions continues to haunt the Euro market. As of writing, dollar index edged up 0.02% to 97.65 while the pair of EUR\/USD quoted down 0.02% to 1.1190.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price inched down by 0.07% to $54.00 per barrel during Asian trading session. In short a while ago, a foreign oil company in Iraq\u2019s Basra hit by a rocket and injured two Iraqi workers. The attack was not identified yet but has created uncertainty toward the oil supply. On the other hand, gold price tumbled 0.03% to $1346.00 a troy ounce following rise in market risk appetite.<\/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

22:00\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 ECB President Draghi Speaks<\/p>\n

02:00 (20th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Economic Projections<\/p>\n

02:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Statement<\/p>\n

02:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Press Conference<\/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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 CPI (YoY) (May)<\/td>\n2.1%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core CPI (MoM) (May)<\/td>\n0.0%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n2.206M<\/td>\n-1.077M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(20th<\/sup>)<\/td>\n

USD \u2013 Fed Interest Rate Decision<\/td>\n2.50%<\/td>\n2.50%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the 60-MA line (red). MACD which illustrate bullish bias signal suggest index to extend its gains towards the resistance level 97.60.<\/p>\n

 <\/p>\n

Resistance level: 97.60, 97.95
\nSupport level: 97.00, 96.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower while currently testing the support level 1.2555. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2615, 1.2690
\nSupport level: 1.2555, 1.2490<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing near the support level 1.1180. MACD which display persistent bearish momentum suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1240, 1.1305
\nSupport level: 1.1180, 1.1120<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remains traded in a narrowing triangle while currently testing near the bottom-level of the triangle. MACD which illustrate bearish bias signal suggest the pair to extend its losses after breaking below the bottom level of the triangle.<\/p>\n

 <\/p>\n

Resistance level: 108.45, 109.15
\nSupport level: 107.85, 107.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the 20-MA line (green). However, MACD which illustrate bullish momentum suggest the pair to be traded higher towards the resistance level 0.6900 as a technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6900, 0.6930
\nSupport level: 0.6860, 0.6825<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level 0.6540. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after successfully closing below the 20-MA line (green).<\/p>\n

 <\/p>\n

Resistance level: 0.6540, 0.6580
\nSupport level: 0.6500, 0.6470<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level 1.3370. MACD which display bearish momentum with the formation of death cross suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3435, 1.3490
\nSupport level: 1.3370, 1.3305<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above previous resistance level at 0.9985. However, due to lack of signal from the MACD, a breakout above the resistance level 1.0025 or below the support level 0.9985 is required to obtain further confirmation before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 1.0025, 1.0070
\nSupport level: 0.9985, 0.9940<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level 54.50. MACD which illustrate bullish momentum suggest the commodity to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 54.50, 55.85
\nSupport level: 52.65, 50.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded lower following prior retracement from the resistance level 1355.00. MACD which display bearish bias signal with the starting formation of death cross suggest gold to extend its losses towards the support level 1341.15.<\/p>\n

 <\/p>\n

Resistance level: 1355.00, 1370.00
\nSupport level: 1341.15, 1321.15<\/p>\n","protected":false},"excerpt":{"rendered":"

19 June 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   Euro remained stagnant following ECB dovish notes.\u00a0 Euro was traded flat after European Central Bank (ECB) showed its dovish stance towards future economy outlook. On yesterday, ECB President Mario Draghi commented that they will likely to ease policy again where further rate cut and more asset purchases can […]<\/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\/64811"}],"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=64811"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/64811\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=64811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=64811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=64811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}