{"id":86375,"date":"2019-11-05T05:49:02","date_gmt":"2019-11-05T05:49:02","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=86375"},"modified":"2019-11-05T05:49:02","modified_gmt":"2019-11-05T05:49:02","slug":"051119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/051119-afternoon-session-analysis\/","title":{"rendered":"051119 Afternoon Session Analysis"},"content":{"rendered":"

05 November 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 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Aussie soars after RBA rate decision.<\/strong><\/span><\/p>\n

The Aussie dollar which is traded against the dollar have surged in late Asian session as Royal Bank of Australia (RBA) have maintain its status quo on its rate decision while citing risks to the macro economy and a gentle turning point at the domestic front. According to its statement, the central scenario is for inflation to pick up gradually and growth is likely to pick up to around 3% in 2021. However, wage growth is likely to remain around the current rate for some time. Besides that, RBA also added that a gentle turning point appears to have been reached, signaling scope for a pause in the easing cycle. The positive statement have help Aussie to pick a bid in the market while market will now concentrate on Statement of Monetary Policy (SOMP) on Friday for fresh direction regarding about the central bank\u2019s near-term growth\/inflation forecasts. As of writing, AUD\/USD have rose 0.30% to 0.6905 while the dollar index also edge higher by 0.08% to 97.58.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slip 0.16% to $56.39 at the time of writing as global growth concerns back in play despite trade optimism. Global economic slowdown concerns have overshadowed the latest upbeat trade headlines in turn weighing negatively on the higher-yielding oil currently. On the other hand, gold price fell 0.24% to $1505.89 as of writing following positive development in trade war reduce the appeal of risk-off assets such as gold.<\/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\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
17.30<\/td>\nGBP – Composite PMI (Oct)<\/td>\n49.3<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17.30<\/td>\nGBP – Service PMI (Oct)<\/td>\n49.5<\/td>\n49.7<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – ISM Non-Manufacturing PMI (Oct)<\/td>\n52.6<\/td>\n53.4<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – JOLTs Job Openings (Sep)<\/td>\n7.051M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the previous level at 97.30. MACD which illustrated bullish momentum suggest the index to extend its gains toward 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 higher level. MACD which illustrated increasing bearish momentum 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, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1170. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward support level at 1.1075.<\/p>\n

 <\/p>\n

Resistance level: 1.1170, 1.1240<\/p>\n

Support level: 1.1075, 1.1010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 108.40. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 108.85.<\/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, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6880. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.6965.<\/p>\n

 <\/p>\n

Resistance level: 0.6965, 0.7065<\/p>\n

Support level: 0.6880, 0.6795<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6410. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.6410.<\/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 breakout above the previous resistance level at 1.3145. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.3210.<\/p>\n

 <\/p>\n

Resistance level: 1.3210, 1.3275<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9885. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.9885.<\/p>\n

 <\/p>\n

Resistance level: 0.9885, 0.9945<\/p>\n

Support level: 0.9810, 0.9760<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the higher level.\u00a0 MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 55.40.<\/p>\n

 <\/p>\n

Resistance level: 56.80, 58.55<\/p>\n

Support level: 55.40, 54.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1511.95. MACD which illustrate bearish bias momentum suggest the commodity to extend its losses toward the support level at 1495.50.<\/p>\n

 <\/p>\n

Resistance level: 1511.95, 1525.50<\/p>\n

Support level: 1495.50, 1486.00<\/p>\n","protected":false},"excerpt":{"rendered":"

05 November 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 Afternoon Session Analysis   Aussie soars after RBA rate decision. The Aussie dollar which is traded against the dollar have surged in late Asian session as Royal Bank of Australia (RBA) have maintain its status quo on its rate decision while citing risks to the macro economy and a gentle turning point […]<\/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\/86375"}],"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=86375"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/86375\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=86375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=86375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=86375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}