{"id":89316,"date":"2019-11-22T06:31:41","date_gmt":"2019-11-22T06:31:41","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=89316"},"modified":"2019-11-22T06:31:41","modified_gmt":"2019-11-22T06:31:41","slug":"221119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/221119-afternoon-session-analysis\/","title":{"rendered":"221119 Afternoon Session Analysis"},"content":{"rendered":"

22 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 sink amid uncertainties over global trade. <\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies fall as US global trade issue continues to weigh on this single currency market\u2019s sentiment. Last week, the window for auto related tariffs on EU had closed as US President Donald Trump was supposed to make a final decision before the deadline 14th<\/sup> November. After the deadline passed, recent news show that US administration official are now considering whether to start another round of trade investigation against EU, but even much broader trade inquiry for this time. Moreover, trade talk between US and China remains deadlock as China emphasized that they will continue to eye on US next move with regards to backing Hong Kong Bill. Prior, China reacted angrily toward Washington\u2019s proposal over Hong Kong issue as US is interfering the internal affairs between China and Hong Kong, and it became another obstacle to the phase 1 trade deal between these both parties. Adding further anger on Chinese government is US President Trump is not considering to veto the bill, showing no willingness to close a deal with them. As of writing, dollar index inched down 0.05% to 97.95.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price retraced 0.26% to $58.15 per barrel after hitting two months high level amid market worries over global trade development continues to haunt the crude oil product future demand outlook. On the other hand, gold price rose 0.03% to $1464.60 a troy ounce amid weakening of greenback.<\/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 Event\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\n

16.30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\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
15.00<\/td>\nEUR \u2013 German GDP (QoQ) (Q3)<\/td>\n-0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
16.30<\/td>\nEUR \u2013 German Manufacturing PMI (Nov)<\/td>\n42.1<\/td>\n42.9<\/td>\n–<\/td>\n<\/tr>\n
17.30<\/td>\nGBP – Manufacturing PMI<\/td>\n49.6<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17.30<\/td>\nGBP – Service PMI<\/td>\n50<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
21.30<\/td>\nCAD \u2013 Core Retail Sales (MoM) (Sep)<\/td>\n-0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(23rd<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n674<\/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 lower following prior retracement from the resistance level at 97.85. However, MACD which illustrated increasing bullish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 97.85, 97.95<\/p>\n

Support level: 97.70, 97.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2965. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2965, 1.3180<\/p>\n

Support level: 1.2765, 1.2600<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily<\/strong>: EURUSD was traded lower following prior retracement from the resistance level 1.1080. MACD which illustrate increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1080, 1.1165<\/p>\n

Support level: 1.1010, 1.0955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4<\/strong>: USDJPY was traded higher while currently testing the resistance level at 108.65. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 108.65, 108.90<\/p>\n

Support level: 108.35, 108.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level at 0.6790. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward the support level at 0.6770.<\/p>\n

 <\/p>\n

Resistance level: 0.6790, 0.6815<\/p>\n

Support level: 0.6770, 0.6750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4<\/strong>: NZDUSD was traded lower following prior breakout below the previous support level at 0.6410. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6390.<\/p>\n

 <\/p>\n

Resistance level: 0.6410, 0.6435<\/p>\n

Support level: 0.6390, 0.6370<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily:<\/strong> USDCAD was traded lower following prior retracement from the resistance level at 1.3325. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.3265.<\/p>\n

 <\/p>\n

Resistance level: 1.3325, 1.3375<\/p>\n

Support level: 1.3265, 1.3210<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, <\/strong>Daily<\/strong>: USDCHF was traded higher following prior breakout above the previous resistance level 0.9900. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.9945.<\/p>\n

 <\/p>\n

Resistance level: 0.9945, 0.9980<\/p>\n

Support level: 0.9900, 0.9850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily:<\/strong> Crude oil price was traded lower following prior retracement from the resistance level at 58.65. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 56.75.<\/p>\n

 <\/p>\n

Resistance level: 58.65, 60.50<\/p>\n

Support level: 56.75, 55.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_ H4:<\/strong> Gold price was traded lower following prior retracement from the resistance level 1472.85. MACD which illustrate increasing bearish momentum suggest the commodity to extend its losses toward support level at 1459.00.<\/p>\n

 <\/p>\n

Resistance level: 1472.85, 1485.60<\/p>\n

Support level: 1459.00, 1449.40<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

22 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 sink amid uncertainties over global trade. Dollar index which gauge its value against a basket of six major currencies fall as US global trade issue continues to weigh on this single currency market\u2019s sentiment. Last week, the window for auto related tariffs on EU had closed as […]<\/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\/89316"}],"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=89316"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/89316\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=89316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=89316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=89316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}