{"id":69237,"date":"2019-07-18T04:54:26","date_gmt":"2019-07-18T04:54:26","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=69237"},"modified":"2019-07-18T04:54:26","modified_gmt":"2019-07-18T04:54:26","slug":"180719-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180719-afternoon-session-analysis\/","title":{"rendered":"180719 Afternoon Session Analysis"},"content":{"rendered":"

18 July<\/strong> 2019\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

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AUD in bid as rate cut fear diminishes.<\/strong><\/span><\/p>\n

Australian dollar extended gains during Asian trading session although recent data showed mixed signals in its employment market. For the month of June, Australia\u2019s economy generated 21.1K fulltime jobs, significantly higher than previous month\u2019s reading of only 2.4K. However, part-time jobs in June fell by 20.6K after rising up to 39.8K for the previous month. Nevertheless, unemployment rate remained stable at 5.2%. Overall, investors continue to pour into the Australian market following broad weakness experienced by the US dollar due to poor housing data. In addition, a rise in Australia\u2019s full-time job has eased market expectation towards Reserve Bank of Australia to cut interest rates immediately in August. Prior, the central bank had cut its rates in May and June while they are widely expected to deliver another rate cut by the final quarter of the year 2019. On the other hand, Japanese yen remains well in bid following the release of optimistic trade data this morning. For the month of June, Japan\u2019s trade balance came in at a higher surplus of 589.5 billion, significantly higher than forecast of 420.0 billion. As of writing, pair of AUD\/USD rose 0.31% to 0.7030 while USD\/JPY fell 0.19% to 107.73.<\/p>\n

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As for commodities market, crude oil price rebounds by 0.41% to $56.79 per barrel. Oil prices plunged sharply on yesterday after recent reports from Energy Information Administration shows a high accumulation in US crude oil stocks. On the other hand, gold price depreciates by 0.26% to $1,422.57 a troy ounce while traders wait for more signals from the US market.<\/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

N\/A<\/p>\n

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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

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Today\u2019s Highlight Economic Data<\/u><\/p>\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) (Jun)<\/td>\n-0.5%<\/td>\n-0.3%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD – Philadelphia Fed Manufacturing Index (Jul)<\/td>\n0.3<\/td>\n5.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing the 50 moving average line (Blue). MACD which illustrate diminishing bullish momentum signal suggest the dollar to extend its losses after successfully breakout below the 50 moving average line (Blue).<\/p>\n

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Resistance level: 97.10, 97.50
\nSupport level: 96.50, 96.20<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2435. MACD which display diminishing bearish momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 1.2435.<\/p>\n

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Resistance level: 1.2435, 1.2500
\nSupport level: 1.2370, 1.2300<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level at 1.1245. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breakout above the resistance level at 1.1245.<\/p>\n

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Resistance level: 1.1245, 1.1280<\/p>\n

Support level: 1.1210, 1.1170<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 107.75. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 107.40.<\/p>\n

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Resistance level: 107.75, 108.20
\nSupport level: 107.40, 106.80<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher currently still testing the resistance level at 0.7030. MACD which display diminishing bearish momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 0.7030.<\/p>\n

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Resistance level: 0.7030, 0.7055
\nSupport level: 0.7000, 0.6965<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6725. MACD which display bullish momentum suggest the pair to extend its gains toward the resistance level at 0.6780.<\/p>\n

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Resistance level: 0.6780, 0.6820
\nSupport level: 0.6725, 0.6660<\/p>\n

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

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3050. However, MACD which display bullish bias momentum suggest the pair to undergo short term technical correction toward the resistance level at 1.3095.<\/p>\n

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Resistance level: 1.3095, 1.3135
\nSupport level: 1.3050, 1.2990<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level near 0.9880. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 0.9840.<\/p>\n

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Resistance level: 0.9880, 0.9925
\nSupport level: 0.9840, 0.9805<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 56.85. MACD which illustrate diminishing bearish momentum suggest the commodity to extend its gains after successfully breakout above the resistance level at 56.85.<\/p>\n

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Resistance level: 56.85, 57.85
\nSupport level: 55.90, 54.65<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1424.05. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its retracement toward the support level at 1403.00.<\/p>\n

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Resistance level: 1424.05, 1436.35
\nSupport level: 1403.00, 1383.60<\/p>\n","protected":false},"excerpt":{"rendered":"

18 July 2019\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     AUD in bid as rate cut fear diminishes. Australian dollar extended gains during Asian trading session although recent data showed mixed signals in its employment market. For the month of June, Australia\u2019s economy generated 21.1K fulltime jobs, significantly higher than previous month\u2019s reading of only 2.4K. However, […]<\/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\/69237"}],"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=69237"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/69237\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=69237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=69237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=69237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}