{"id":75941,"date":"2019-08-27T05:32:35","date_gmt":"2019-08-27T05:32:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=75941"},"modified":"2019-08-27T05:43:49","modified_gmt":"2019-08-27T05:43:49","slug":"270819-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/270819-afternoon-session-analysis\/","title":{"rendered":"270819 Afternoon Session Analysis"},"content":{"rendered":"

27 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

Safe-haven thrives as uncertainty lingers.<\/strong><\/span><\/p>\n

Safe-haven remains well in bid as the market progresses into European trading session due to higher skepticism towards US-China trade talk. Despite both Washington and Beijing shows their willingness to negotiate, traders continue to remain cautious due to the absence of a clear path to resolve trade dispute in between both economics. Trade dispute in between US and China which has been dragged for more than a year begins to show signs of its impact upon global economic growth. Mounting risks in growth have raised the chance for further monetary easing from the Federal Reserve and other major central banks which fueled higher demand for the safe-haven assets. As of writing, pair of USD\/JPY depreciates by 0.26% to 105.86. On the other hand, pound sterling was traded lower on yesterday following the lack of developments with regards to Brexit. UK Prime Minister Boris Johnson commented on Monday that he is prepared to initiate Brexit talk with EU prior to 31st<\/sup> October deadline. However, he reiterated that UK will leave the EU on the 31st<\/sup> October regardless of its outcome, sparking higher concern for an exit without any trade deals. Pair of GBP\/USD was traded flat at 1.2212.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price rose 0.33% to $54.01 per barrel. Oil futures remains well in bid after US President Donald Trump signaled to sign a trade deal with China which reduced market concerns after China announced another round of tariffs against the US. As for gold, its price rose 0.10% to $1,529.03 a troy ounce due to lingering risks 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

 <\/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 CB Consumer Confidence (Aug)<\/td>\n135.7<\/td>\n129.5<\/td>\n–<\/td>\n<\/tr>\n
04:30 (28th<\/sup>)<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-3.500M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing near the resistance level 97.90. MACD which illustrate bullish bias signal with the formation of golden cross suggest the dollar to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level 1.2245. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 1.2095.<\/p>\n

 <\/p>\n

Resistance level: 1.2245, 1.2390<\/p>\n

Support level: 1.2095, 1.2015<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1100. MACD which illustrate bearish momentum signal with the death cross formation suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1170, 1.1245<\/p>\n

Support level: 1.1100, 1.1020<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level 105.55. MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 106.30, 106.95<\/p>\n

Support level: 105.55, 104.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 0.6750.<\/p>\n

 <\/p>\n

Resistance level: 0.6820, 0.6865<\/p>\n

Support level: 0.6750, 0.6695<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.6375. MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6430, 0.6505<\/p>\n

Support level: 0.6375, 0.6320<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the support level 1.3230. MACD which illustrate ongoing bearish momentum suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3290, 1.3380<\/p>\n

Support level: 1.3230, 1.3145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance level 0.9800. 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: 0.9800, 0.9840<\/p>\n

Support level: 0.9755, 0.9705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from its low level. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 55.55.<\/p>\n

 <\/p>\n

Resistance level: 55.55, 57.45<\/p>\n

Support level: 53.05, 50.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the support level 1535.00. MACD which illustrate diminishing bullish momentum suggest the commodity to extend its losses towards the support level 1515.55.<\/p>\n

 <\/p>\n

Resistance level: 1535.00, 1555.75<\/p>\n

Support level: 1515.55, 1495.60<\/p>\n","protected":false},"excerpt":{"rendered":"

27 August 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Safe-haven thrives as uncertainty lingers. Safe-haven remains well in bid as the market progresses into European trading session due to higher skepticism towards US-China trade talk. Despite both Washington and Beijing shows their willingness to negotiate, traders continue to remain cautious due to the absence of a clear […]<\/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\/75941"}],"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=75941"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/75941\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=75941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=75941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=75941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}