{"id":90226,"date":"2019-11-28T06:16:21","date_gmt":"2019-11-28T06:16:21","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=90226"},"modified":"2019-11-28T06:16:21","modified_gmt":"2019-11-28T06:16:21","slug":"281119-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/281119-afternoon-session-analysis\/","title":{"rendered":"281119 Afternoon Session Analysis"},"content":{"rendered":"

28 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

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Pound sterling soars following election prediction.<\/strong><\/span><\/p>\n

Pound sterling which traded against the greenback continue to extend its gains during late Asian session amid YouGov\u2019s MRP poll prediction. The YouGov\u2019s Poll on MRP model is highly respected due to its predictions of the UK election outcome ever since they forecasted a hung parliament in 2017. According to its polls, YouGov predicts that the Tories party will remain in majority with 68 seats. Besides that, The Guardian and The Times also predicts the Tories party will have a significant majority over the Labour Party. Thus, the predictions have strengthen the expectation of market that the Conservative will lead in the election, driving market sentiment and causing investors to flood into pound sterling market. As market are expected to be quiet following Thanksgiving Day, investors will continue to await for further catalyst to determine further direction for the pair. At the time of writing, GBP\/USD rose 0.08% to 1.2927 while dollar index slips 0.04% to 98.20.<\/p>\n

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In the commodities market, crude oil price fell 0.50% to $57.83 per barrel as of writing amid sentiment remains weak towards oil market after a surprise build in its inventories. On top of that, investors are also concerned regarding the outlook for the demand due to U.S meddling in China\u2019s political interest. Gold price climbs 0.20% to $1457.19 at the time of writing following the ongoing uncertainty between U.S and China.<\/p>\n

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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

All day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 Thanksgiving Day<\/p>\n

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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

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar Index was traded higher while currently testing the resistance level at 98.25. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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Resistance level: 98.25, 98.75<\/p>\n

Support level: 97.60, 96.95<\/p>\n

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GBPUSD, Daily: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2965. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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

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

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EURUSD, Daily: <\/strong>EURUSD was traded lower while currently testing the support level at 1.0980. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

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

Support level: 1.0980, 1.0900<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 109.20. However, MACD which illustrated diminishing bullish momentum suggest the pair to traded lower in short-term as technical correction.<\/p>\n

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Resistance level: 109.55, 109.95<\/p>\n

Support level: 109.20, 108.75<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6755. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

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Resistance level: 0.6790, 0.6820<\/p>\n

Support level: 0.6755, 0.6725<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6410. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

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

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

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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

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

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

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USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9990. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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Resistance level: 0.9990, 1.0025<\/p>\n

Support level: 0.9940, 0.9885<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 58.00. MACD which illustrate increasing bearish momentum suggest the commodity to extend its losses toward support level at 57.10.<\/p>\n

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Resistance level: 58.00, 58.65<\/p>\n

Support level: 57.10, 56.30<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1452.35. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

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Resistance level: 1477.40, 1492.35<\/p>\n

Support level: 1452.35, 1430.20<\/p>\n","protected":false},"excerpt":{"rendered":"

28 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     Pound sterling soars following election prediction. Pound sterling which traded against the greenback continue to extend its gains during late Asian session amid YouGov\u2019s MRP poll prediction. The YouGov\u2019s Poll on MRP model is highly respected due to its predictions of the UK election outcome ever since […]<\/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\/90226"}],"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=90226"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/90226\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=90226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=90226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=90226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}