{"id":83835,"date":"2019-10-18T06:15:03","date_gmt":"2019-10-18T06:15:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=83835"},"modified":"2019-10-18T06:15:03","modified_gmt":"2019-10-18T06:15:03","slug":"181019-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/181019-afternoon-session-analysis\/","title":{"rendered":"181019 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Antipodeans pair hold strong gains despite weak data from China.<\/strong><\/span><\/p>\n

Australian dollar which traded against the dollar manage to hold its gains despite recent release of weak GDP data from China. According to the National Bureau of Statistics of China, GDP in annual basis have slumped to 6.0%, lower than expected reading of 6.1%. Despite that, downbeat data from U.S coupled with recent positive developments in trade talk allow the Aussie and Kiwi bulls to remain dominant in the market. According to reports, Chinese Commerce Ministry Spokesman have stated that they hope to reach the phased trade deal with U.S as soon as possible. Following China is one of the largest trade partner to the antipodeans, both Aussie and Kiwi also benefitted from the development. As of writing, AUD\/USD rose 0.18% to 0.6833 while NZD\/USD also climbs 0.11% to 0.6369.<\/p>\n

On the commodities market, crude oil price remain stable and edge up 0.03% to $53.85 per barrel as market continue to awaits for further clear signal to gauge its direction. On the other hand, gold price edge higher 0.05% to $1492.05 a troy ounce as of writing following weakness in dollar continue to provide demand for the safe-haven asset.<\/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

Tentative\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 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 Meeting<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
01:00<\/p>\n

(19th<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n712<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 97.70. MACD which illustrated increasing bearish momentum suggest the pair to extend it losses toward the support level at 97.05.<\/p>\n

 <\/p>\n

Resistance level: 97.70, 98.15<\/p>\n

Support level: 97.05, 96.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.2735. MACD which illustrated increasing bullish momentum suggest the pair to extend its gain toward the resistance level at 1.2990.<\/p>\n

 <\/p>\n

Resistance level: 1.2990, 1.3155<\/p>\n

Support level: 1.2735, 1.2530<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1085. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward the resistance level at 1.1165.<\/p>\n

 <\/p>\n

Resistance level: 1.1165, 1.1210<\/p>\n

Support level: 1.1085, 1.0995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 108.90. MACD which illustrated the bearish signal suggested the pair to be traded lower toward support level at 108.20.<\/p>\n

 <\/p>\n

 <\/p>\n

Resistance level: 108.90, 109.30<\/p>\n

Support level: 108.20, 107.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6800. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6875.<\/p>\n

 <\/p>\n

Resistance level: 0.6875, 0.6925<\/p>\n

Support level: 0.6800, 0.6745<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6310. MACD which illustrated increasing bullish momentum suggest the pair to be traded higher toward resistance level at 0.6425.<\/p>\n

 <\/p>\n

Resistance level: 0.6425, 0.6495<\/p>\n

Support level: 0.6310, 0.6245<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing at the support level 1.3125. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3205, 1.3305<\/p>\n

Support level: 1.3125, 1.3070<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9900. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward the support level at 0.9820.<\/p>\n

 <\/p>\n

Resistance level: 0.9900, 0.9980<\/p>\n

Support level: 0.9820, 0.9745<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 54.05. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 53.55.<\/p>\n

 <\/p>\n

Resistance level: 54.05, 54.85<\/p>\n

Support level: 53.55, 52.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4:<\/strong> Gold price was traded lower following prior retracement from the resistance level at 1496.55. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 1488.10.<\/p>\n

 <\/p>\n

Resistance level: 1496.55, 1510.05<\/p>\n

Support level: 1488.10, 1479.50<\/p>\n","protected":false},"excerpt":{"rendered":"

18 October 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\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Antipodeans pair hold strong gains despite weak data from China. Australian dollar which traded against the dollar manage to hold its gains despite recent release of weak GDP data from China. According to the National Bureau of Statistics of China, GDP in annual basis have slumped to 6.0%, […]<\/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\/83835"}],"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=83835"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/83835\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=83835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=83835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=83835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}