{"id":91549,"date":"2019-12-06T06:21:26","date_gmt":"2019-12-06T06:21:26","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=91549"},"modified":"2019-12-06T06:21:26","modified_gmt":"2019-12-06T06:21:26","slug":"061219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/061219-afternoon-session-analysis\/","title":{"rendered":"061219 Afternoon Session Analysis"},"content":{"rendered":"

6 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

Greenback remains in decline amid weak data expectation.<\/strong><\/span><\/p>\n

The dollar index which measured against a basket of six major currency pairs have slipped during late Asian session as market remains cautious against mixed signal on U.S economy. As Non-Farm Payroll data to be released later today, investors are fretted that the U.S job numbers could fail to deliver an expected rebound. At the same time, the sentiment are also limited by the progress of trade talk where U.S. President Donald Trump stated that a deal only could be made after 2020 election. The latest round of U.S tariff are about to take effect on Dec 15 and investors are currently expecting the possibility of both countries achieve trade deal are highly unlikely due to the increasing tension. Market are now currently awaiting for the data to further determine the direction for the market. At the time of writing, dollar index fell 0.03% to 97.28.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 0.14% to $58.40 per barrel as of writing amid latest sources stated that Saudi Arabia denies pushing OPEC allies to commit to a deeper round of production cuts. On the other hand, gold price edge higher by 0.02% to $1475.25 a troy ounce at the time of writing as trade bleak, political pessimism and weak USD favor the commodity buyer.<\/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\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Average Hourly Earnings (MoM) (Nov)<\/td>\n0.2%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Nonfarm Payrolls (Nov)<\/td>\n128K<\/td>\n186K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Unemployment Rate (Nov)<\/td>\n3.6%<\/td>\n3.6%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Employment Change (Nov)<\/td>\n-1.8K<\/td>\n10.0K<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Dec)<\/td>\n96.8<\/td>\n97.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower while currently testing the support level at 97.25. MACD which illustrate bearish momentum and the formation of death cross suggest the dollar to extend its losses after it successfully breakout below the support level at 97.25.<\/p>\n

 <\/p>\n

Resistance level: 97.70, 98.20<\/p>\n

Support level: 97.25, 96.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3170. MACD which display bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.3170.<\/p>\n

 <\/p>\n

Resistance level: 1.3170, 1.3315<\/p>\n

Support level: 1.3035, 1.2970<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1075. MACD which illustrate bullish momentum signal suggest the pair to be traded higher toward the resistance level at 1.1170.<\/p>\n

 <\/p>\n

Resistance level: 1.1170, 1.1240<\/p>\n

Support level: 1.1075, 1.1005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the 20 moving average line (Red). MACD which illustrate bearish signal suggest the pair to extend its losses toward the support level at 108.40.<\/p>\n

 <\/p>\n

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

Support level: 108.40, 107.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the lower level. MACD which display diminishing bearish momentum signal suggest the pair to extend its rebound toward the resistance level at 0.6855.<\/p>\n

 <\/p>\n

Resistance level: 0.6855, 0.6880<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6535. \u00a0MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains toward the resistance level at 0.6570.<\/p>\n

 <\/p>\n

Resistance level: 0.6570, 0.6600<\/p>\n

Support level: 0.6535, 0.6490<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3210. MACD which illustrate ongoing bearish bias signal suggest the pair to extend its losses toward the next support level at 1.3145.<\/p>\n

 <\/p>\n

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

Support level: 1.3145, 1.3085<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower following prior retracement from the 50 moving average line (Blue). However, MACD which illustrate diminishing bearish momentum with the starting formation of gold cross suggest the pair to undergo technical correction toward the resistance level at 0.9885.<\/p>\n

 <\/p>\n

Resistance level: 0.9885, 0.9915<\/p>\n

Support level: 0.9850, 0.9810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level near at 58.60. MACD which illustrate bearish momentum suggest the commodity to extend its losses toward the support level at 57.60.<\/p>\n

 <\/p>\n

Resistance level: 58.60, 59.70<\/p>\n

Support level: 57.60, 56.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1471.65. However, MACD which illustrate bearish signal with the formation of death cross suggest the commodity to undergo technical correction toward the support level at 1471.65.<\/p>\n

 <\/p>\n

Resistance level: 1480.95, 1484.70<\/p>\n

Support level: 1471.65, 1464.05<\/p>\n

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

6 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   Greenback remains in decline amid weak data expectation. The dollar index which measured against a basket of six major currency pairs have slipped during late Asian session as market remains cautious against mixed signal on U.S economy. As Non-Farm Payroll data to be released later today, investors are […]<\/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\/91549"}],"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=91549"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/91549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=91549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=91549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=91549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}