{"id":82532,"date":"2019-10-10T06:20:49","date_gmt":"2019-10-10T06:20:49","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=82532"},"modified":"2019-10-10T06:21:14","modified_gmt":"2019-10-10T06:21:14","slug":"101019-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/101019-afternoon-session-analysis\/","title":{"rendered":"101019 Afternoon Session Analysis"},"content":{"rendered":"

10 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Greenback hovered while investor eyes on trade talk.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies lingered around 98.65 level amid recent news showed that Trump administration plan to approve some of the domestic companies in US to continue supply non-sensitive goods to the telecom giant in China, Huawei. Earlier this year, Trump blacklisted Huawei companies and restricted US companies to deal with Huawei, acting as a retaliation to China and lifted up the tension between two countries. Trump\u2019s green light to issue licenses for business trading with China has cool down the recent escalation of trade dispute. However, the gains of greenback limited after Donald Trump revealed that US delegation will bring up the China currencies depreciation issue onto the table to discuss and expect it can be involved in partial deal with China. Therefore, investors will continue eye on the representative level trade talk which starting from 11th<\/sup> October which last for two days. As of writing, dollar index inched down 0.10% to 98.70. On the other hand, the pair of USD\/CAD plunged 0.12% to 1.3315 amid escalation of geopolitical tension in Middle East region. Early morning today, Turkey launched an offensive attack against Kurdish fighters in Syria and believingly that oil supplies will be disrupted, eventually benefited Canadian dollar as Canada is one of the largest crude oil exporter in global.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price quoted down 0.38% to $52.45 per barrel as EIA data showed a stockpile in US inventories level. According to EIA data, US inventories has increased 2.927M, surprisingly higher than economist forecast of 1.413M. However, recent military operation launched by Turkey limited the losses of crude oil prices. Besides, gold price rose 0.23% to $1509.00 a troy ounce amid heightening of geopolitical tension.<\/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

17:20\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

19:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\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 OPEC Monthly Report<\/p>\n

 <\/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
16:30<\/td>\nGBP \u2013 GDP (QoQ)<\/td>\n0.0%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Aug)<\/td>\n0.35<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core CPI (MoM) (Sep)<\/td>\n0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n219K<\/td>\n215K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the resistance level at 98.75. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 98.60.<\/p>\n

 <\/p>\n

Resistance level: 98.75, 98.90<\/p>\n

Support level: 98.60, 98.35<\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: GBPUSD was traded lower following prior retracement from its previous support level at 1.2270. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2210.<\/p>\n

 <\/p>\n

Resistance level: 1.2270, 1.2390<\/p>\n

Support level: 1.2210, 1.2010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: EURUSD was traded higher while currently testing at the resistance level at 1.0995. MACD which illustrated increasing bullish momentum suggest the pair to be traded higher after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.0995, 1.1020<\/p>\n

Support level: 1.0965, 1.0940<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: USDJPY was traded higher following prior rebound from the previous resistance level at 107.35. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 107.55, 107.70<\/p>\n

Support level: 107.35, 107.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level at 0.6740. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6765.<\/p>\n

 <\/p>\n

Resistance level: 0.6765, 0.6795<\/p>\n

Support level: 0.6740, 0.6715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level at 0.6285. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6320.<\/p>\n

 <\/p>\n

Resistance level: 0.6320, 0.6340<\/p>\n

Support level: 0.6285, 0.6275<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: USDCAD was traded lower following retracement from the resistance level at 1.3335. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3335, 1.3360<\/p>\n

Support level: 1.3290, 1.3255<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: USDCHF was traded higher following prior rebound from its support level at 0.9935. MACD which illustrated increasing bullish momentum suggest the pair to extend its gain toward the resistance level at 0.9965.<\/p>\n

 <\/p>\n

Resistance level: 0.9965, 0.9985<\/p>\n

Support level: 0.9935, 0.9915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: Crude oil price was traded higher following prior rebound from the previous resistance level at 52.30. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gain toward resistance level at 52.80.<\/p>\n

 <\/p>\n

Resistance level: 52.80, 53.25<\/p>\n

Support level: 52.30, 51.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: Gold price was traded lower following prior retracement from the resistance level at 1518.85. MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower toward support level at 1502.80.<\/p>\n

 <\/p>\n

Resistance level: 1518.85, 1532.85<\/p>\n

Support level: 1502.80, 1489.20<\/p>\n","protected":false},"excerpt":{"rendered":"

10 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Greenback hovered while investor eyes on trade talk. Dollar index which gauge its value against a basket of six major currencies lingered around 98.65 level amid recent news showed that Trump administration plan to approve some of the domestic companies in US to continue supply non-sensitive goods to the […]<\/p>\n","protected":false},"author":61,"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\/82532"}],"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\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=82532"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/82532\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=82532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=82532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=82532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}