{"id":72279,"date":"2019-08-06T06:35:19","date_gmt":"2019-08-06T06:35:19","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=72279"},"modified":"2019-08-06T06:35:19","modified_gmt":"2019-08-06T06:35:19","slug":"060819-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/060819-afternoon-session-analysis\/","title":{"rendered":"060819 Afternoon Session Analysis"},"content":{"rendered":"

6 August 2019\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

 <\/p>\n

Australian dollar rise as RBA kept rate unchanged.<\/strong><\/span><\/p>\n

Aussie dollar received upward momentum after Reserve Bank of Australia (RBA) kept their interest rate unchanged at 1.00% following two consecutive cuts over the past two months. According to RBA statement, Governor Philip Lowe stated that outlook for global economy remains reasonable however it is still pressured by ongoing trade disputes between China and US which had since dampened global economy growth. In terms of inflation, Lowe stated that inflationary pressure for the first half of the year was subdued. However, inflationary pressure is expected to return to RBA\u2019s target of 2% in the longer run. Whilst in terms of economic growth, Australia suffered a lower than expected growth for the first half of 2019 with household consumption declining due to lower income growth and declining house prices. Though, the growth is expected to strengthen throughout the 2nd<\/sup> half of the year. On the dovish side of the statement, Lowe emphasized that RBA will continue with its low interest rate levels to reduce unemployment rate as well as supporting inflation towards its targeted level. RBA will also continue to monitor labor market progress and further monetary policy easing to sustain its economical growth. As of writing, dollar index ticked up by 0.04% to 97.29 while pair of AUD\/USD rose 0.39% to 0.6780.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.58% to $55.25 per barrel despite ongoing trade tensions between US and China. Oil traders are now waiting for possible developments in trade talks as well as US crude inventories to further gauge oil\u2019s movement. On the other hand, gold price fell by 0.16% to $1,459.55 a troy ounce due to dollar rebound.<\/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

 <\/p>\n

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
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Jun)<\/td>\n7.323M<\/td>\n7.450M<\/td>\n–<\/td>\n<\/tr>\n
04:30 (7th<\/sup>)<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-6.024M<\/td>\n–<\/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 higher following prior rebound from the support level 97.10. MACD which illustrate diminishing bearish momentum suggest the dollar to extend its rebound towards the resistance level 97.90.<\/p>\n

 <\/p>\n

Resistance level: 97.90, 98.50<\/p>\n

Support level: 97.10, 96.30<\/p>\n

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\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat in a sideway channel. However, MACD which display diminishing bullish momentum suggest the pair to be traded lower in short term towards the support level 1.2100.<\/p>\n

 <\/p>\n

Resistance level: 1.2245, 1.2400<\/p>\n

Support level: 1.2100, 1.1955<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level 1.1260. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 1.1170.<\/p>\n

 <\/p>\n

Resistance level: 1.1260, 1.1340<\/p>\n

Support level: 1.1170, 1.1100<\/p>\n

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance level 106.90. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 106.90, 107.80<\/p>\n

Support level: 106.05, 105.45<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level 0.6760. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.6825.<\/p>\n

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Resistance level: 0.6825, 0.6865<\/p>\n

Support level: 0.6760, 0.6695<\/p>\n

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level 0.6550. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term towards the support level 0.6490.<\/p>\n

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Resistance level: 0.6550, 0.6600<\/p>\n

Support level: 0.6490, 0.6420<\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level 1.3230. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 1.3145.<\/p>\n

 <\/p>\n

Resistance level: 1.3230, 1.3290<\/p>\n

Support level: 1.3145, 1.3095<\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level 0.9755. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.9755, 0.9800<\/p>\n

Support level: 0.9705, 0.9635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 54.50. MACD which display bullish bias signal with the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 56.00.<\/p>\n

 <\/p>\n

Resistance level: 56.00, 57.85<\/p>\n

Support level: 54.50, 52.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level 1458.00. MACD which illustrate diminishing bullish momentum suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1475.50, 1495.60<\/p>\n

Support level: 1458.00, 1446.60<\/p>\n","protected":false},"excerpt":{"rendered":"

6 August 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis     Australian dollar rise as RBA kept rate unchanged. Aussie dollar received upward momentum after Reserve Bank of Australia (RBA) kept their interest rate unchanged at 1.00% following two consecutive cuts over the past two months. According to RBA statement, Governor Philip Lowe stated that outlook for global […]<\/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\/72279"}],"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=72279"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/72279\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=72279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=72279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=72279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}