{"id":89547,"date":"2019-11-25T06:08:59","date_gmt":"2019-11-25T06:08:59","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=89547"},"modified":"2019-11-25T06:08:59","modified_gmt":"2019-11-25T06:08:59","slug":"251119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/251119-afternoon-session-analysis\/","title":{"rendered":"251119 Afternoon Session Analysis"},"content":{"rendered":"

25 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 Afternoon Session Analysis<\/strong><\/p>\n

Yen slumped amid to trade optimism.<\/strong><\/span><\/p>\n

The safe-haven currency such as Japanese Yen was traded lower amid hope upon the resolution of trade war escalated and strong US data, which stoked a shift in market sentiment toward riskier asset.\u00a0 According to Reuters, China plans to improve the protection of intellectual property rights, which reducing the trade tensions between the United Stated and China. In fact, Japanese Yen received further selloff pressure following Chinese President Xi JinPing said on Friday that he wants to reach an agreement with US, while U.S President Donald Trump said that the trade talk progress was going well. In addition, U.S national security adviser Robert O\u2019Brien said on Saturday that a deal was possible by the end of the year. Hence, such sentiment has enhancing the risk appetite in the market, spurring the selloff of the safe-haven.\u00a0 However, escalating tensions over Hong Kong have emerged as a fresh complication in the trade talks, which might increase the uncertainty outlook for the trade deal. On the other hand, pound sterling surged amid to positive prospect for Brexit. According to CNN, British Prime Minister Boris Johnson, whose Conservative Party leads in opinion polls ahead of the 12th December 2019 election, promise that he will \u201cget Brexit done\u201d and bring a deal to leave the European Union back to parliament before Christmas. However, bleak data from the UK region which released on last Friday had limited the gains experienced by the Pound Sterling. As of writing, USD\/JPY appreciated by 0.12% to 108.75 while GBP\/USD surged 0.13% to 1.2845.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slumped 0.10% to $57.84 per barrels. Investors would continue to scrutinize the crude oil inventories data as well as OPEC\u2019s meeting which scheduled next month in order to gauge the likelihood movement of the commodity. On the other hand, gold price depreciated by 0.04% to $1461.00 per troy ounces amid to positive prospect for trade deal between U.S and China.<\/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
17:00<\/td>\nEUR \u2013 German Ifo Business Climate Index (Nov)<\/td>\n94.6<\/td>\n95.0<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 97.95. MACD which illustrated increasing bullish momentum suggest the index to extend its gains toward resistance level at 98.20.<\/p>\n

 <\/p>\n

Resistance level: 98.20,98.40<\/p>\n

Support level: 97.95, 97.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily<\/strong>: GBPUSD was traded lower following prior retracement from the resistance level at 1.2965. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2765.<\/p>\n

 <\/p>\n

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

Support level: 1.2765, 1.2550<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4<\/strong>: EURUSD was traded higher following prior rebound from the support level at 1.1010. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.1080.<\/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 following prior breakout above the previous resistance level at 108.65. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 108.85.<\/p>\n

 <\/p>\n

Resistance level: 108.85, 109.10<\/p>\n

Support level: 108.65, 108.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6785. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6825.<\/p>\n

 <\/p>\n

Resistance level: 0.6825, 0.6850<\/p>\n

Support level: 0.6785, 0.6760<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4<\/strong>: NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6410. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6435.<\/p>\n

 <\/p>\n

Resistance level: 0.6435, 0.6455<\/p>\n

Support level 0.6410, 0.6390<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3265. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/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, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9980. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9945.<\/p>\n

 <\/p>\n

Resistance level: 0.9980, 1.0010<\/p>\n

Support level: 0.9945, 0.9900<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily<\/strong>: Crude oil was traded lower following prior retracement from the resistance level at 58.65. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/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_, H1: <\/strong>Gold price was traded higher following prior rebound from the support level at 1459.40. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1464.10.<\/p>\n

 <\/p>\n

Resistance level: 1464.10, 1469.15<\/p>\n

Support level: 1459.40, 1454.40<\/p>\n

 <\/p>\n

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

25 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 Afternoon Session Analysis Yen slumped amid to trade optimism. The safe-haven currency such as Japanese Yen was traded lower amid hope upon the resolution of trade war escalated and strong US data, which stoked a shift in market sentiment toward riskier asset.\u00a0 According to Reuters, China plans to improve the protection of […]<\/p>\n","protected":false},"author":61,"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\/89547"}],"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\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=89547"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/89547\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=89547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=89547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=89547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}