{"id":85001,"date":"2019-10-25T07:02:09","date_gmt":"2019-10-25T07:02:09","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=85001"},"modified":"2019-10-25T07:02:09","modified_gmt":"2019-10-25T07:02:09","slug":"251019-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/251019-afternoon-session-analysis\/","title":{"rendered":"251019 Afternoon Session Analysis"},"content":{"rendered":"

25 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

Pound slump amid uncertainty in Brexit.<\/strong><\/span><\/p>\n

Pound Sterling was traded lower on yesterday following UK Prime Minister Boris Johnson\u2019s call for a general election, which increase overall uncertainty of Brexit. In a letter to Labor Party\u2019s leader Jeremy Corbyn, Boris Johnson claimed that he would give lawmakers one last chance to scrutinize his withdrawal legislation and \u201cget Brexit done\u201d by November 6th<\/sup>, or else he would request the UK Parliament to support for general election to be held at December 12th<\/sup>. In fact, Jacob Rees-Mogg, the leader of the House of Common said that the government may introduce a motion on Monday to seek for a debate and vote on an early general election. Likewise, market sentiment towards pound sterling remains fragile ahead of a meeting later today whereby European Union Officials decides on how long they will extend the Brexit deadline. On the other hand, safe-haven assets such as Japanese Yen was traded flat due to mixed market sentiment towards Brexit and US-China trade war issue. Japanese Yen received some selloff pressure after China decided to strengthen the protection of intellectual property for the foreign company, which might further lessen the trade tension in between US and China. However, ongoing uncertainties with regards to Brexit has successfully limit the losses experienced by Japanese yen. As of writing, GBP\/USD slumped 0.06% to 1.2840 while USD\/JPY appreciates by 0.05% to 108.65.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price ended its three-day bullish streak earlier today due to gloomy economic outlook. On the other hand, gold price rose yesterday following bleak economic data from the U.S region. As of writing, crude oil price depreciates by 0.34% to $55.87 per barrel while gold price slumped 0.11% to $1501.83 per troy ounces.<\/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
16.00<\/td>\nEUR \u2013 German Ifo Business Climate Index (Oct)<\/td>\n94.6<\/td>\n94.5<\/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 higher following prior breakout above the previous resistance level at 97.30. MACD which display diminishing bearish momentum suggest the dollar to extend its gains toward the resistance level at 97.75.<\/p>\n

 <\/p>\n

Resistance level: 97.75, 98.35<\/p>\n

Support level: 97.30, 96.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3035. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses 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 following prior breakout below the previous support level at 1.1125. MACD which illustrate diminishing bullish momentum suggest the pair to extend it losses toward the support level at 1.1030.<\/p>\n

 <\/p>\n

Resistance level: 1.1125, 1.1200<\/p>\n

Support level: 1.1030, 1.0930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound near the support level at 108.40. Due to lack of signal from MACD, it is suggested to wait for further signal before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 108.85, 109.25<\/p>\n

Support level: 108.40, 107.80<\/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 near the support level 0.6365. MACD which display persistent bearish bias signal suggest the pair to extend its losses after it breaks below the support level at 0.6365.<\/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 lower following prior breakout below the previous support level at 1.3085. However, MACD which illustrate diminishing bearish momentum suggest the pair to undergo short term technical correction toward the resistance level at 1.3085.<\/p>\n

 <\/p>\n

Resistance level: 1.3085, 1.3145<\/p>\n

Support level: 1.3020, 1.2905<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level 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, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 55.90. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its losses after it successfully breakout below 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_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1503.30. MACD which illustrate bullish bias momentum suggest the commodity to extend its gains after successfully breakout above the resistance level at 1503.30.<\/p>\n

 <\/p>\n

Resistance level: 1503.30, 1512.15<\/p>\n

Support level: 1496.35, 1488.80<\/p>\n","protected":false},"excerpt":{"rendered":"

25 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   Pound slump amid uncertainty in Brexit. Pound Sterling was traded lower on yesterday following UK Prime Minister Boris Johnson\u2019s call for a general election, which increase overall uncertainty of Brexit. In a letter to Labor Party\u2019s leader Jeremy Corbyn, Boris Johnson claimed that he would give lawmakers one […]<\/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\/85001"}],"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=85001"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/85001\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=85001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=85001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=85001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}