{"id":88867,"date":"2019-11-20T06:02:18","date_gmt":"2019-11-20T06:02:18","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=88867"},"modified":"2019-11-20T06:02:18","modified_gmt":"2019-11-20T06:02:18","slug":"201119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/201119-afternoon-session-analysis\/","title":{"rendered":"201119 Afternoon Session Analysis"},"content":{"rendered":"

20 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

Dollar remains volatile due to trade deadlock.<\/strong><\/span><\/p>\n

Dollar index which gauges its value against six major currencies rebounded after hitting two weeks low level amid heightening of trade tensions between US and China lifted up the market worries with regards the future global growth. On yesterday, US President Donald Trump threatened the global market sentiment after he reiterated that he would impose higher tariff on China imported goods if China failed to strike a deal with US. Besides, the \u2018temperature\u2019 between both parties further exacerbating after members of US Senate unanimously approved the Hong Kong Bill which aims to support the Hong Kong\u2019s protestant. This unexpected move put Donald Trump in dilemma as he make a choice between backing his Senate\u2019s decision or against it while wrapping up the last stage of trade negotiation with China. Following the US decision been known by Beijing, China expressed strong condemnation by warning them to rule out the latest bill on Hong Kong and stop interfering the affairs of China and Hong Kong. However, US Commerce Secretary Wilbur Ross commented again that he is still optimistic toward the trade talk between two countries, phase 1 trade deal is still achievable. As of writing, dollar index inched up 0.03% to 97.70.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price quoted up 0.22% to $55.30 per barrel after diving for more than $20 yesterday as data showed a stockpile in US crude oil inventories level while hinting supply glut issue becoming even worst. On the other hand, gold price rose 0.10% to $1473.60 a story ounce amid uncertainty over trade war heightened.<\/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

03:00 (21st<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Meeting Minutes<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
15:00<\/td>\nEUR \u2013 German PPI (MoM) (Oct)<\/td>\n0.1%<\/td>\n-0.1%<\/td>\n\u00a0<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Core CPI (MoM) (Oct)<\/td>\n0.0%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
23.30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n2.219M<\/td>\n1.543M<\/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 rebound from the support level 97.60. MACD which illustrate bullish bias signal with the starting formation of golden cross suggest the dollar to extend its rebound towards the resistance level 98.25.<\/p>\n

 <\/p>\n

Resistance level: 98.25, 98.90<\/p>\n

Support level: 97.60, 96.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remain traded in a sideway channel following recent retracement from the resistance level 1.2970. However, MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its retracement in short term towards the support level 1.2795.<\/p>\n

 <\/p>\n

Resistance level: 1.2970, 1.3095<\/p>\n

Support level: 1.2795, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4<\/strong>: EURUSD was traded flat while currently testing the support level 1.1070. However, MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1170, 1.1250<\/p>\n

Support level: 1.1070, 1.0990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4<\/strong>: USDJPY was traded lower while currently testing near the support level 108.25. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 108.85, 109.40<\/p>\n

Support level: 108.25, 107.55<\/p>\n

 <\/p>\n

\"\" \"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level 0.6810. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

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

Support level: 0.6810, 0.6725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4<\/strong>: NZDUSD was traded lower following prior retracement from the resistance level 0.6425. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.6340.<\/p>\n

 <\/p>\n

Resistance level: 0.6425, 0.6500<\/p>\n

Support level: 0.6340, 0.6275<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4:<\/strong> USDCAD was traded higher following prior breakout above the previous resistance level 1.3255. MACD which illustrate bullish momentum signal with the golden cross formation suggest the pair to extend its gains towards the resistance level 1.3300.<\/p>\n

 <\/p>\n

Resistance level: 1.3300, 1.3335<\/p>\n

Support level: 1.3255, 1.3185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4<\/strong>: USDCHF was traded lower following prior retracement from the resistance level 0.9915. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.9845.<\/p>\n

 <\/p>\n

Resistance level: 0.9915, 0.9980<\/p>\n

Support level: 0.9845, 0.9800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4<\/strong>: Crude oil price was traded lower following prior breakout below the previous support level 56.30. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses towards the support level 54.85.<\/p>\n

 <\/p>\n

Resistance level: 56.30, 57.55<\/p>\n

Support level: 54.85, 52.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_ H4:<\/strong> Gold price was traded higher while currently testing the resistance level 1473.50. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience a short term technical correction towards the support level 1458.50.<\/p>\n

 <\/p>\n

Resistance level: 1473.50, 1497.00<\/p>\n

Support level: 1458.50, 1445.70<\/p>\n","protected":false},"excerpt":{"rendered":"

20 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   Dollar remains volatile due to trade deadlock. Dollar index which gauges its value against six major currencies rebounded after hitting two weeks low level amid heightening of trade tensions between US and China lifted up the market worries with regards the future global growth. On yesterday, US President […]<\/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\/88867"}],"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=88867"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/88867\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=88867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=88867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=88867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}