{"id":79805,"date":"2019-09-24T05:41:15","date_gmt":"2019-09-24T05:41:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=79805"},"modified":"2019-09-24T05:41:15","modified_gmt":"2019-09-24T05:41:15","slug":"240919-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/240919-afternoon-session-analysis\/","title":{"rendered":"240919 Afternoon Session Analysis"},"content":{"rendered":"

24 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

 <\/p>\n

Sterling end flats, eyes on court\u2019s decisions.<\/strong><\/span><\/p>\n

GBPUSD end flats as investors awaits the UK Supreme Court\u2019s decision on proroguing the parliament. According to Bloomberg, a ruling on the legality of Boris Johnson’s decision to suspend Parliament will be announced by the Supreme Court on Tuesday at 6PM Malaysian time. If the court declare that Johnson\u2019s advice to the Queen on the suspension of Parliament was unlawful and parliament returns from its five-week suspension early, the Pound Sterling is likely to edge lower due to increasing political uncertainty. In fact, Bank of England policymakers set the bank rate unchanged at 0.75% last week. However, according to the Bank of England, they claimed that it is possible that such political events could increase a period of entrenched uncertainty of the future trading with the EU. Such sentiment would also mean that the economy would suffer recession from another Brexit delay and which may trigger to implement easing monetary policy to cure the recession. On the other hand, Japanese Yen surge as markets risk appetite dwindles after the bleak Europe data was released. Yesterday, none of the Manufacturing index in Eurozone has reached the market expectations and cause the risk appetite ebbed. In fact, such pessimism prospective toward the world economy would stoke a shift in sentiment toward safe-have assets such as Japanese Yen. As of writing, GBP\/USD appreciated by 0.07 to 1.2436 while USD\/JPY rose 0.02% to 107.545.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slumped by 0.14% to $58.390 per barrel as weak manufacturing data from Europe and Japan focused market attention on a gloomy outlook for demand, overshadowing Saudi supply-shock doubts. On the other hand, gold price fell 0.05% to $1521.10 per troy ounces due to stronger US dollar as trade tensions eases.<\/p>\n

\u00a0<\/u><\/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
16:00<\/td>\nEUR \u2013 German Ifo Business Climate Index (Sep)<\/td>\n94.3<\/td>\n94.5<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (Sep)<\/td>\n135.1<\/td>\n134.1<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the index to extend its gains after breaking the resistance of 98.20.<\/p>\n

 <\/p>\n

Resistance level: 98.20, 98.30<\/p>\n

Support level: 97.95, 97.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout from the upward channel. However, MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2515, 1.2600<\/p>\n

Support level: 1.2400, 1.2325<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. However, MACD which continues to illustrate bearish signal suggests its price to extend its losses in mid-term.<\/p>\n

 <\/p>\n

Resistance level: 1.1010, 1.1070<\/p>\n

Support level: 1.0930, 1.0870<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing at 107.60. MACD which illustrate bullish signal suggests the pair to extend its gains after breaking the resistance at 107.60.<\/p>\n

 <\/p>\n

Resistance level: 107.60, 108.05<\/p>\n

Support level: 107.05, 106.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6800, 0.6830<\/p>\n

Support level: 0.6750, 0.6705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6360, 0.6410<\/p>\n

Support level: 0.6290, 0.6250<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing at the support of 1.3255. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 1.3255.<\/p>\n

 <\/p>\n

Resistance level: 1.3280, 1.3315<\/p>\n

Support level: 1.3255, 1.3220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower levels. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9925, 0.9970<\/p>\n

Support level: 0.9865, 0.9820<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests its price to be traded higher after breaking 58.70.<\/p>\n

 <\/p>\n

Resistance level: 58.70, 60.85<\/p>\n

Support level: 57.30, 55.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance of 1523.00. MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1523.00, 1533.00<\/p>\n

Support level: 1509.00, 1494.50<\/p>\n","protected":false},"excerpt":{"rendered":"

24 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   Sterling end flats, eyes on court\u2019s decisions. GBPUSD end flats as investors awaits the UK Supreme Court\u2019s decision on proroguing the parliament. According to Bloomberg, a ruling on the legality of Boris Johnson’s decision to suspend Parliament will be announced by the Supreme Court on Tuesday at 6PM […]<\/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\/79805"}],"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=79805"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/79805\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=79805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=79805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=79805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}