{"id":84531,"date":"2019-10-23T06:37:51","date_gmt":"2019-10-23T06:37:51","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=84531"},"modified":"2019-10-23T06:37:51","modified_gmt":"2019-10-23T06:37:51","slug":"231019-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/231019-afternoon-session-analysis\/","title":{"rendered":"231019 Afternoon Session Analysis"},"content":{"rendered":"

23 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

Euro struggled following Brexit dilemma and signs of recession.<\/strong><\/span><\/p>\n

The pair of EUR\/USD slumped to fresh daily lows as market remain pessimistic with regards to Brexit developments. Recently, U.K parliament have voted in favor of U.K Prime Minister Boris Johnson\u2019s Brexit deal. However, they have also rejected his timetable to take U.K out of the E.U, spurring further uncertainty in the market. Likewise, the ongoing worries of no-deal Brexit also continue to affect the market, thus placing further pressure on the Euro market. At the same time, market sentiment is also pressured by signs of recession as the ECB stated that the economy of Germany may have fallen into recession. The pair is expected to fall further while market awaits upcoming news or data to gauge further direction. At the time of writing, EUR\/USD fell 0.02% to 1.1120 while dollar index rose 0.03% to 97.25.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slumped 0.52% to $53.91 per barrel as of writing as the Sino-U.S. trade war dragged on while at the same time global supplies glut continues to linger. According to Reuters, he Organization of Petroleum Exporting Countries and its partners are concerned about the demand outlook next year. Next, gold price rose 0.19% to $1490.38 a troy ounce as of writing while market hold gains and waiting for further signal.<\/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

N\/A<\/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
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n9.281M<\/td>\n2.232M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level at 97.30. MACD which illustrate bullish bias momentum suggest the index to extend its gains after it successfully breakout above the resistance level at 97.30.<\/p>\n

 <\/p>\n

Resistance level: 97.30, 97.75<\/p>\n

Support level: 96.85, 96.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower toward the support level at 1.2820.<\/p>\n

 <\/p>\n

Resistance level: 1.3035, 1.3170<\/p>\n

Support level: 1.2820, 1.2665<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1125. MACD which illustrated diminishing bullish momentum suggest the pair to extend it losses after it successfully breakout below the support level at 1.1125.<\/p>\n

 <\/p>\n

Resistance level: 1.1200, 1.1300<\/p>\n

Support level: 1.1125, 1.1030<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 108.40. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 107.80.<\/p>\n

 <\/p>\n

Resistance level: 108.40, 108.85<\/p>\n

Support level: 107.75, 107.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6880. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6795.<\/p>\n

 <\/p>\n

Resistance level: 0.6880, 0.6965<\/p>\n

Support level: 0.6795, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the 20 moving average line (Red). MACD which illustrated bearish momentum suggest the pair to extend its losses after it successfully breakout below the 20 moving average line (Red).<\/p>\n

 <\/p>\n

Resistance level: 0.6410, 0.6440<\/p>\n

Support level: 0.6365, 0.6325<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3085. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 1.3145.<\/p>\n

 <\/p>\n

Resistance level: 1.3145, 1.3210<\/p>\n

Support level: 1.3085, 1.3020<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/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 gain 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, H4: <\/strong>Crude oil price was traded lower following prior retracement from the top level of symmetry triangle. MACD which illustrate diminishing bullish momentum suggest the commodity to extend its retracement toward the support level at 53.55.<\/p>\n

 <\/p>\n

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

Support level: 53.55, 51.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1488.80. MACD which illustrated bullish momentum signal suggest its price to extend its gains after successfully breakout above the resistance level at 1488.80.<\/p>\n

 <\/p>\n

Resistance level: 1488.80, 1496.35<\/p>\n

Support level: 1484.70, 1475.60<\/p>\n","protected":false},"excerpt":{"rendered":"

23 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   Euro struggled following Brexit dilemma and signs of recession. The pair of EUR\/USD slumped to fresh daily lows as market remain pessimistic with regards to Brexit developments. Recently, U.K parliament have voted in favor of U.K Prime Minister Boris Johnson\u2019s Brexit deal. However, they have also rejected his […]<\/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\/84531"}],"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=84531"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/84531\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=84531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=84531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=84531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}