{"id":80294,"date":"2019-09-26T06:35:01","date_gmt":"2019-09-26T06:35:01","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=80294"},"modified":"2019-09-26T06:35:01","modified_gmt":"2019-09-26T06:35:01","slug":"260919-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260919-afternoon-session-analysis\/","title":{"rendered":"260919 Afternoon Session Analysis"},"content":{"rendered":"

26 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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Yen fall due to low local yield.<\/strong><\/span><\/p>\n

Japanese Yen looks as the worst-performing Group-of-10 currency in September, according to Bloomberg. Bearish pressure continues to surround the Japanese Yen due to large redemption of Japanese Government bonds from the investors. With low local yields in Japan, investors reinvested huge amount of money in asset overseas, spurring the pressure of huge sell-off in Japanese Yen. In addition, Japanese Yen fall amid to positive sign of progress in U.S.- China trade relations talk, which stoked a shift in sentiment toward riskier asset, damping demand for safe-havens. However, the currency remains particularly sensitive to news on trade and geopolitics. In fact, investors would scrutinize future economic data in order to gauge the likelihood of an interest rate cut during their Bank of Japan policy meeting. Investors would also take clues from Brexit developments ahead of the U.K.\u2019s Oct. 31 deadline for leaving the European Union. Furthermore, some analysts still expect Japanese Yen would be fall further amid to large Japanese purchase of U.S. bonds in the second half of the fiscal year begins. On the other hand, Pound Sterling slump after UK Supreme Court ruling against PM Johnson\u2019s suspension amid to the rise of the geopolitical risk. For now, Boris Johnson has an almighty task in trying to get a Brexit deal approved before the 19 October deadline set by lawmakers after failing to suspend Parliament. Meanwhile, investors will continually seek clue from the Brexit latest update. As of writing, USD\/JPY slump 0.10% to 107.64 while GBP\/USD rose 0.20% to 1.2372.<\/p>\n

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In commodities market, crude oil price rose after U.S. President Donald Trump claimed that the resolution for the China-US trade tensions would be faster than expected, helping to stave off pressure from rising oil supplies and worries about global growth. On the other hand, gold price dropped as risk sentiment improved after Trump provided the positive statement and also due to stronger greenback. As of writing, crude oil price rose 1.69% to $56.40 per barrels while gold price rose 0.35% to $1508.61 per troy ounces.<\/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

21:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Draghi Speaks<\/p>\n

21:45\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoE Gov Carney Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q2)<\/td>\n2.0%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n208K<\/td>\n212K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Aug)<\/td>\n-2.5%<\/td>\n0.9%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 98.65. MACD which illustrate diminished upward momentum suggests the index to extend its losses toward the support level at 98.40.<\/p>\n

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Resistance level: 98.65, 99.20<\/p>\n

Support level: 98.40, 98.00<\/p>\n

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GBPUSD, Daily: <\/strong>GBPUSD was traded lower while currently testing the 50 moving average line (Blue). MACD which illustrate bearish momentum suggests the pair to extend its losses toward the support level after successfully breakout below the 50 moving average line (Blue).<\/p>\n

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Resistance level: 1.2515, 1.2665<\/p>\n

Support level: 1.2325, 1.2165<\/p>\n

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EURUSD, Daily: <\/strong>EURUSD was traded lower following prior breakout below the previous support level at 1.0965. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 1.0855.<\/p>\n

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Resistance level: 1.0965, 1.1150<\/p>\n

Support level: 1.0855, 1.0745<\/p>\n

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USDJPY, H1: <\/strong>USDJPY was traded lower while currently testing the 20 moving average line (Red). MACD which illustrate bearish momentum suggests the pair to extend its losses toward the support level after successfully breakout below the 20 moving average line (Red).<\/p>\n

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Resistance level: 107.75, 108.25<\/p>\n

Support level: 107.15, 106.65<\/p>\n

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\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6750. MACD which illustrate bearish bias momentum suggest the pair to extend its losses after successfully breakout below the support level at 0.6750.<\/p>\n

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

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

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\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6295. MACD which illustrate bullish signal suggests the pair to extend its gains toward the resistance level at 0.6360.<\/p>\n

 <\/p>\n

Resistance level: 0.6360, 0.6425<\/p>\n

Support level: 0.6295, 0.6255<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded flat within a sideway channel. Due to MACD lack of signal, it is suggested to wait for further confirmation before entering the market.<\/p>\n

 <\/p>\n

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

Support level: 1.3145, 1.3020<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9885. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9945.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 56.80. MACD which illustrate bearish momentum and the formation of death cross suggest the commodity to extend its losses toward the support level at 55.90.<\/p>\n

 <\/p>\n

Resistance level: 56.80, 58.55<\/p>\n

Support level: 55.90, 54.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower while currently testing the support level at 1506.10. MACD which illustrate diminished bullish momentum suggest the commodity to extend its losses after successfully breakout below the support level at 1506.10.<\/p>\n

 <\/p>\n

Resistance level: 1551.85, 1595.00<\/p>\n

Support level: 1506.10, 1485.65<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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   Yen fall due to low local yield. Japanese Yen looks as the worst-performing Group-of-10 currency in September, according to Bloomberg. Bearish pressure continues to surround the Japanese Yen due to large redemption of Japanese Government bonds from the investors. With low local yields in Japan, investors reinvested huge […]<\/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\/80294"}],"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=80294"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/80294\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=80294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=80294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=80294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}