{"id":90650,"date":"2019-12-02T06:13:55","date_gmt":"2019-12-02T06:13:55","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=90650"},"modified":"2019-12-02T06:13:55","modified_gmt":"2019-12-02T06:13:55","slug":"021219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021219-afternoon-session-analysis\/","title":{"rendered":"021219 Afternoon Session Analysis"},"content":{"rendered":"

2 December 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\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Other major currency markets popped up.<\/strong><\/span><\/p>\n

Dollar index which measured its value against the other major currencies fall amid strengthening of other country\u2019s single currency. Last Friday, German Unemployment Change data came in at -16k while comparing to market forecast of 5k, hinting EU labor market still remain stable and seemingly their economy is in the pace of returning to expansionary stage soon. This upbeat data shows that ongoing loosen monetary policy which offering more stimulus has been take into effect on EU economy while board of ECB reiterated they will continue to eye on more economic data at the meantime. As of writing, the pair of EUR\/USD rose 0.04% to 1.1020. On the other hand, Caixin Manufacturing PMI data from China was also came in at an optimistic reading 51.8, unexpectedly stronger than economist forecast at 51.4 while showing sign of expansion in China economy for the first time since April. Good news from China\u2019s economy eventually dragged up the market demand toward its major trading partner currencies, Aussie dollar and Kiwi. As of writing, the pair of AUD\/USD quoted up 0.16% to 0.6775 and NZD\/USD inched up 0.41% to 0.6445 respectively.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 1.19% to $56.00 per barrel due to bearish market profit taking after falling to 10 days low level. Previously, there was news showed that OPEC and its allies are averse to deepening their oil cut production in the coming week meeting. Besides, gold price surged 0.28% to $1459.65 a troy ounce amid heightening of investor\u2019s risk appetite.<\/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

22.00\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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16.55<\/td>\nEUR \u2013 German Manufacturing PMI (Nov)<\/td>\n43.8<\/td>\n43.8<\/td>\n–<\/td>\n<\/tr>\n
17.30<\/td>\nGBP \u2013 Manufacturing PMI (Nov)<\/td>\n48.3<\/td>\n48.3<\/td>\n–<\/td>\n<\/tr>\n
23.00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Nov)<\/td>\n48.3<\/td>\n49.2<\/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 while currently testing the resistance level 98.20. MACD which illustrate diminishing bearish momentum suggest the dollar to extend its gains after successfully breakout above the resistance level at 98.20.<\/p>\n

 <\/p>\n

Resistance level: 98.20, 98.80<\/p>\n

Support level: 97.70, 97.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2945. However, MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.2890.<\/p>\n

 <\/p>\n

Resistance level: 1.2945, 1.2970<\/p>\n

Support level: 1.2890, 1.2855<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level 1.1005. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.1075.<\/p>\n

 <\/p>\n

Resistance level: 1.1075, 1.1170<\/p>\n

Support level: 1.1005, 1.0930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 109.40. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 109.80.<\/p>\n

 <\/p>\n

Resistance level: 109.80, 110.25<\/p>\n

Support level: 109.40, 109.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6770. Due to lack of signal from MACD, it is suggested to wait for further confirmation such as breakout above or retracement before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 0.6770, 0.6810<\/p>\n

Support level: 0.6750, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6430. MACD which illustrate bullish momentum suggest the pair to extend its gains after its candle successfully close above the resistance level at 0.6430.<\/p>\n

 <\/p>\n

Resistance level: 0.6430, 0.6465<\/p>\n

Support level: 0.6365, 0.6325<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3265. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.3335.<\/p>\n

 <\/p>\n

Resistance level: 1.3335, 1.3395<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 1.0005. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term toward the support level at 0.9985.<\/p>\n

 <\/p>\n

Resistance level: 1.0005, 1.0050<\/p>\n

Support level: 0.9985, 0.9945<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 55.30. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains toward the resistance level at 56.25.<\/p>\n

 <\/p>\n

Resistance level: 56.25, 56.80<\/p>\n

Support level: 55.30, 54.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1458.85. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its losses after it successfully breakout below the support level at 1458.85.<\/p>\n

 <\/p>\n

Resistance level: 1471.65, 1480.95<\/p>\n

Support level: 1458.85, 1448.95<\/p>\n","protected":false},"excerpt":{"rendered":"

2 December 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\u00a0\u00a0 Afternoon Session Analysis   Other major currency markets popped up. Dollar index which measured its value against the other major currencies fall amid strengthening of other country\u2019s single currency. Last Friday, German Unemployment Change data came in at -16k while comparing to market forecast of 5k, hinting EU labor market still remain […]<\/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\/90650"}],"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=90650"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/90650\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=90650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=90650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=90650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}