{"id":73750,"date":"2019-08-14T05:10:40","date_gmt":"2019-08-14T05:10:40","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=73750"},"modified":"2019-08-14T05:10:40","modified_gmt":"2019-08-14T05:10:40","slug":"140819-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/140819-afternoon-session-analysis\/","title":{"rendered":"140819 Afternoon Session Analysis"},"content":{"rendered":"

14 August 2019\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

Market remains skeptical over Trump\u2019s concession.<\/strong><\/span><\/p>\n

Japanese yen continues to receive higher demand in the financial market as traders remained skeptical over US President Donald Trump\u2019s decision to delay additional tariffs upon some Chinese imported goods. On yesterday, Washington announced that tariffs upon some categories of Chinese goods will be delayed to 15th<\/sup> December while other goods such as agricultural products, antiques, clothes, kitchenware and footwear will be subjected to tariffs on 1st<\/sup> September. However, the temporary reprieve in trade war failed to garner higher optimism in the market as there is still no ultimate solution to the ongoing trade row which would in return jeopardize global economic growth for long-term. Likewise, increasing violent clashes in between protesters and police force in Hong Kong as well as current Brexit conundrum in the UK provides additional bullish support upon the Japanese yen. As of writing, pair of USD\/JPY depreciates by 0.36% to 106.35. On the other hand, AUD\/USD slumped 0.10% to 0.6794 during Asian trading session. Australian dollar received some bearish momentum after China\u2019s July Retail Sales and Industrial Production lagged behind market consensus and prior reading. Both data sparked higher concern over the economic growth momentum of the world\u2019s largest economy powerhouse.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciates by 0.55% to $56.37 per barrel. Oil futures were dumped following bearish economic data from China which sparked concerns over diminishing demand for the commodity in the long-run over the backdrop of slowing growth. Otherwise, gold price rose 0.07% to $1,502.34 a troy ounce due to higher risk aversion in the market.<\/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

N\/A<\/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
14:00<\/td>\nEUR \u2013 German GDP (QoQ) (Q2)<\/td>\n0.4%<\/td>\n-0.1%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 CPI (YoY) (Jul)<\/td>\n2.0%<\/td>\n1.9%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 GDP (QoQ) (Q2)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n2.385M<\/td>\n-2.775M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level 97.50. However, MACD which illustrate diminishing bullish momentum suggest the dollar to experience a technical correction in short term towards back the current support level 97.50.<\/p>\n

 <\/p>\n

Resistance level: 97.90, 98.15<\/p>\n

Support level: 97.50, 97.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level 1.2100. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 1.1955.<\/p>\n

 <\/p>\n

Resistance level: 1.2100, 1.2245<\/p>\n

Support level: 1.1955, 1.1775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1170. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1275, 1.1340<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level 106.90. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement in short term towards the support level 106.05.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6430. MACD which illustrate bullish momentum signal suggest the pair to extend its rebound towards the resistance level 0.6505.<\/p>\n

 <\/p>\n

Resistance level: 0.6505, 0.6585<\/p>\n

Support level: 0.6430, 0.6375<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level 1.3230. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its retracement 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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.9755. MACD which illustrate bullish bias signal 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 lower following prior retracement from the resistance level 57.45. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its losses towards the support level 55.55.<\/p>\n

 <\/p>\n

Resistance level: 57.45, 58.85<\/p>\n

Support level: 55.55, 53.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1495.60. MACD which illustrate persistent bearish momentum signal suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1515.55, 1535.00<\/p>\n

Support level: 1495.60, 1475.50<\/p>\n","protected":false},"excerpt":{"rendered":"

14 August 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Market remains skeptical over Trump\u2019s concession. Japanese yen continues to receive higher demand in the financial market as traders remained skeptical over US President Donald Trump\u2019s decision to delay additional tariffs upon some Chinese imported goods. On yesterday, Washington announced that tariffs upon some categories of Chinese goods […]<\/p>\n","protected":false},"author":25,"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\/73750"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=73750"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/73750\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=73750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=73750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=73750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}