{"id":65021,"date":"2019-06-20T05:25:29","date_gmt":"2019-06-20T05:25:29","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=65021"},"modified":"2019-06-20T05:54:17","modified_gmt":"2019-06-20T05:54:17","slug":"200619-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200619-afternoon-session-analysis\/","title":{"rendered":"200619 Afternoon Session Analysis"},"content":{"rendered":"

20 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

Will Jerome Powell be replaced?<\/strong><\/p>\n

Dollar index which gauge its value against a basket of six major currencies depreciates to two weeks low near 96.35 level following US President Donald Trump mentioned that he has the authority to replace Federal Reserve (Fed) Chairman Jerome Powell and demote him to be a board governor if he wanted to do so. Federal Reserve has been pressured by Donald Trump to reduce its interest rate since last year October after its excessive rate hike decision and commented that the US central bank \u2018had gone crazy\u2019. Nonetheless, Jerome Powell has clearly stated in the recent FOMC statement that they will still leave the interest rate unchanged which against the favor of Trump. The uncertainty and slowing down economy outlook in US urged the investors to sell off their Greenback in bulk and shifted toward safe haven asset such as gold and Japanese Yen. During Asian trading session, Dollar index slumped 0.22% to 96.30. On the other hand, the pair of NZD\/USD surged 0.55% to 0.6570 amid upbeat GDP data and dovish notes from Fed exerted bullish momentum toward Kiwi. According to Statistics New Zealand, GDP data came in at a rate similar to economist forecast of 0.6% while the goods producing industries has the strongest growth among the components. It indicates that New Zealand economy is still growing at a sustainable level.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price inched up 0.54% to $54.45 per barrel amid US stockpile dropped and the optimism news regarding to OPEC has come to a consensus on meeting date lifted up the sentiment of oil market. Lastly, gold price skyrocketed 1.44% to $1379.80 amid appealing of safe haven\u2019t asset.<\/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

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 BoE MPC Meeting Minutes<\/p>\n

04:00 (21st<\/sup>)\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 BoE Gov Carney Speaks<\/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\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 Retail Sales (MoM) (May)<\/td>\n0.0%<\/td>\n-0.5%<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP \u2013 BoE Interest Rate Decision (Jun)<\/td>\n0.75%<\/td>\n0.75%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n222K<\/td>\n220K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (Jun)<\/td>\n16.6<\/td>\n10.6<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Philly Fed Employment (Jun)<\/td>\n18.2<\/td>\n–<\/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 lower while currently testing the support level 96.30. MACD which illustrate bearish momentum suggest dollar to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 97.00, 97.60
\nSupport level: 96.30, 95.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level of 1.2690. MACD which illustrate ongoing bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2690, 1.2765
\nSupport level: 1.2615, 1.2555<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above previous resistance level at 1.1240. MACD which illustrate bullish momentum suggest the pair to extend its gains towards the resistance level 1.1305.<\/p>\n

 <\/p>\n

Resistance level: 1.1305, 1.1360
\nSupport level: 1.1240, 1.1180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below previous support level at 107.40. MACD which display bearish bias momentum suggest the pair to extend its losses towards the support level 107.40.<\/p>\n

 <\/p>\n

Resistance level: 107.85, 108.45
\nSupport level: 107.40, 106.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance level 0.6900. MACD which illustrate bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/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 higher while currently testing near the resistance level of 0.6580. MACD which display persistent bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6580, 0.6635
\nSupport level: 0.6540, 0.6500<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level 1.3240. 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: 1.3305, 1.3370
\nSupport level: 1.3240, 1.3175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below previous support level of 0.9905. MACD which display ongoing bearish momentum suggest the pair to extend its losses towards the support level 0.9860.<\/p>\n

 <\/p>\n

Resistance level: 0.9905, 0.9940
\nSupport level: 0.9860, 0.9805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level 54.60. However, MACD which illustrate diminishing bullish momentum suggest the commodity to undergo short-term technical correction and retrace back towards the support level 52.65.<\/p>\n

 <\/p>\n

Resistance level: 54.60, 55.85
\nSupport level: 52.65, 50.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold was traded higher following prior breakout above previous resistance level at 1370.00. MACD which illustrate bullish bias signal suggest the commodity to extend its gains towards the resistance level 1386.35.<\/p>\n

 <\/p>\n

Resistance level: 1386.35, 1400.00
\nSupport level: 1370.00, 1355.00<\/p>\n","protected":false},"excerpt":{"rendered":"

20 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   Will Jerome Powell be replaced? Dollar index which gauge its value against a basket of six major currencies depreciates to two weeks low near 96.35 level following US President Donald Trump mentioned that he has the authority to replace Federal Reserve (Fed) Chairman Jerome Powell and demote him […]<\/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\/65021"}],"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=65021"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/65021\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=65021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=65021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=65021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}