{"id":84305,"date":"2019-10-22T05:56:35","date_gmt":"2019-10-22T05:56:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=84305"},"modified":"2019-10-22T05:56:35","modified_gmt":"2019-10-22T05:56:35","slug":"221019-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/221019-afternoon-session-analysis\/","title":{"rendered":"221019 Afternoon Session Analysis"},"content":{"rendered":"

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

Will China and US able to reach a deal?<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies was traded flat despite US President Donald Trump praises that trade talk with China were going well. Recently, Trump revealed that he hopes the first phase of trade deal can be achieved as soon as possible as US and China were putting a lot of effort on ending the trade war issue, which has trapped both economies for more than 1 year. After deputy level talk with China, US Trade Representative Robert Lighthizer added that they aim to finalize the first phrase deal shortly and expect to achieve a deal during Asia Pacific Economic Cooperation meetings in Chile on 16th<\/sup> and 17th <\/sup>November. Besides, it is also noteworthy that US may withdraw the plan of imposing 15% tariff on China technology imported goods which including cellphone and laptop if the negotiation continues to go well, said by White House economic adviser Larry Kudlow. On the other hand, the pair of EUR\/USD lingered around 1.1150 level while investor are waiting for the ECB meeting on this Thursday. After ECB unleashing a wave of stimulus measures on September including restarting the bond purchasing program and interest rate cut, markets are now eye on the next step of ECB monetary policy, whether if ECB will continue loosening their monetary policy in order to further support their economy. As of now, dollar index inched down 0.04% to 96.95 while EUR\/USD rose 0.03% to 1.1150.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price dropped 0.30% to $53.30 per barrel amid recent weak China data continue to weigh on this commodity while investors focus on the development of trade talk between China and US. On the other hand, gold price quoted down 0.02% to $1484.00 a troy ounce amid market risk sentiment remain blurred.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 Japan – Holiday<\/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
20:30<\/td>\nCAD \u2013 Core Retail Sales (MoM) (Aug)<\/td>\n-0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Sep)<\/td>\n5.49M<\/td>\n5.45M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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 97.05. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 97.05, 97.45<\/p>\n

Support level: 96.45, 96.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.2915. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

Resistance level 1.3160, 1.3305<\/p>\n

Support level: 1.2915, 1.2745<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1185. MACD which illustrated diminishing bullish momentum suggest the pair to extend it losses toward support level at 1.1125.<\/p>\n

Resistance level: 1.1185, 1.1245<\/p>\n

Support level: 1.1125, 1.1075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently near the resistance level at 108.90. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 108.90, 109.75<\/p>\n

Support level: 107.75, 106.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6880. MACD which illustrated increasing bullish momentum suggest the pair to extend its gain after it successfully breakout above the resistance level.<\/p>\n

Resistance level: 0.6880, 0.6925<\/p>\n

Support level: 0.6845, 0.6805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6385. 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: 0.6445, 0.6495<\/p>\n

Support level: 0.6385, 0.6340<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3075. 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: 1.3145, 1.3205<\/p>\n

Support level: 1.3075, 1.3020<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9850. MACD which illustrated increasing bullish momentum suggest the pair to extend its gain toward the resistance level at 0.9905.<\/p>\n

 <\/p>\n

Resistance level: 0.9905, 0.9940<\/p>\n

Support level: 0.9850, 0.9805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded within a range while currently testing the resistance level at 53.55. MACD which illustrated diminishing bullish momentum suggest its price to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 53.55, 54.25<\/p>\n

Support level: 52.90, 52.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1481.80. However, MACD which illustrated diminishing bearish momentum suggest its price to be traded higher as technical correction in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1490.65, 1498.25<\/p>\n

Support level: 1481.80, 1474.40<\/p>\n","protected":false},"excerpt":{"rendered":"

22 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Will China and US able to reach a deal? Dollar index which gauge its value against a basket of six major currencies was traded flat despite US President Donald Trump praises that trade talk with China were going well. Recently, Trump revealed that he hopes the first phase of […]<\/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\/84305"}],"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=84305"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/84305\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=84305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=84305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=84305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}