{"id":78549,"date":"2019-09-13T07:03:55","date_gmt":"2019-09-13T07:03:55","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=78549"},"modified":"2019-09-13T07:04:41","modified_gmt":"2019-09-13T07:04:41","slug":"130919-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130919-afternoon-session-analysis\/","title":{"rendered":"130919 Afternoon Session Analysis"},"content":{"rendered":"

13 September 2019\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 Afternoon Session Analysis<\/strong><\/p>\n

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Pound Sterling surged over probability of Brexit Delay.<\/strong><\/span><\/p>\n

GBP\/USD surged on the report that shown the European Union is likely to grant a third Brexit extension in October to avoid a no-deal Brexit, citing a leaked European Parliament draft resolution. According to the resolution, it indicates that members would support a fresh extension if there was a clear purpose such as to avoid a \u201cno-deal Brexit\u201d, hold a general election, revoke Article 50, or approve a Withdrawal Agreement. In fact, the European Parliament is prepared to extend the UK\u2019s membership in EU beyond October 31, as long as the institutions and functioning of EU are not \u201cadversely affected\u201d, according to the resolution. However, Boris Johnson has claimed more than a few times that he will not ask the EU for a further delay to Brexit, despite U.K. lawmakers passing a law to avoid a no-deal Brexit. On the other hand, USD\/JPY slumped to a six-week low during morning session as trade tensions between United States and China diminishes ahead of key talks. Such sentiment eases the demand for safe haven assets such as Japanese Yen. In short-term, positive expectation to the resolution for the U.S.-China trade war should increase the risk appetite and to push treasury yields higher, weigh on safe-haven currencies. However, this confidence could be short-lived as the U.S. Federal Reserve is generally expected to reduce interest rates next week while the ECB’s easing places would apply pressure on the Bank of Japan to follow suit. As of writing, GBP\/USD rose 0.03% to 1.2335, however USD\/JPY rose 0.08% to 108.142.<\/p>\n

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In the commodities market, crude oil slumped 0.15% to $54.94 per barrel as optimistic expectation over an end to the U.S. China trade war.\u00a0 On the other hand, gold price depreciated by 0.16% to $1496.43 per troy ounce as global central banks is expected to cut rates and boosts the demand for the precious metals such as gold.<\/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
20.30<\/td>\nUSD \u2013 Core Retail Sales (MoM) (Aug)<\/td>\n1.0%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013Retail Sales (MoM) (Aug)<\/td>\n0.7%<\/td>\n0.2%<\/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 following prior retracement from the resistance level at 98.40. MACD which illustrate bearish momentum and the formation of death cross suggest the index to extend its retracement toward the support level at 98.00.<\/p>\n

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Resistance level: 98.40, 98.65<\/p>\n

Support level: 98.00, 97.50<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the upward trendline. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.2405.<\/p>\n

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Resistance level: 1.2405, 1.2480<\/p>\n

Support level: 1.2345, 1.2280<\/p>\n

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EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.0965. MACD which illustrate upward bias momentum suggests the pair to extend its gains toward the resistance level at 1.1150.<\/p>\n

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Resistance level: 1.1150, 1.1300<\/p>\n

Support level: 1.0965, 1.0855<\/p>\n

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USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 108.25. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 107.75.<\/p>\n

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Resistance level: 108.25, 108.70<\/p>\n

Support level: 107.75, 107.25<\/p>\n

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AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6875. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term if it fails to breakout above the resistance level at 0.6875.<\/p>\n

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Resistance level: 0.6875, 0.6910<\/p>\n

Support level: 0.6835, 0.6795<\/p>\n

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NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently testing the 20 moving average line (Red). MACD which illustrate diminished upward momentum suggests the pair to extend its losses after it successfully breakout below the 20 moving average line (Red).<\/p>\n

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Resistance level: 0.6425, 0.6490<\/p>\n

Support level: 0.6295, 0.6200<\/p>\n

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USDCAD, Daily: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.3185. MACD which illustrate diminishing bearish momentum suggest the pair to extend it gains toward the resistance level at 1.3335.<\/p>\n

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Resistance level: 1.3335, 1.3530<\/p>\n

Support level: 1.3185, 1.3020<\/p>\n

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USDCHF, Daily: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9945. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.9885.<\/p>\n

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Resistance level: 0.9945, 1.0005<\/p>\n

Support level: 0.9885, 0.9810<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 55.90. However, MACD which illustrate diminishing bearish momentum suggest the commodity to undergo short term technical correction toward the resistance level at 55.90.<\/p>\n

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Resistance level: 55.90, 56.80<\/p>\n

Support level: 54.65, 52.95<\/p>\n

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GOLD_, Daily: <\/strong>Gold price was traded higher following prior rebound from the support level of 1485.65. MACD which illustrate diminishing downward momentum suggests its price to extend its gains toward the resistance level at 1525.20.<\/p>\n

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Resistance level: 1525.20, 1551.85<\/p>\n

Support level: 1485.65, 1444.70<\/p>\n","protected":false},"excerpt":{"rendered":"

13 September 2019\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 Afternoon Session Analysis     Pound Sterling surged over probability of Brexit Delay. GBP\/USD surged on the report that shown the European Union is likely to grant a third Brexit extension in October to avoid a no-deal Brexit, citing a leaked European Parliament draft resolution. According to the resolution, it indicates that […]<\/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\/78549"}],"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=78549"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/78549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=78549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=78549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=78549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}