{"id":92200,"date":"2019-12-11T06:16:58","date_gmt":"2019-12-11T06:16:58","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=92200"},"modified":"2019-12-11T06:16:58","modified_gmt":"2019-12-11T06:16:58","slug":"111219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/111219-afternoon-session-analysis\/","title":{"rendered":"111219 Afternoon Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Greenback edge lower on diminishing hopes of tariff delay.<\/strong><\/span><\/p>\n

Dollar index which measured against a basket of six major currency pairs continue to slip during late Asian session as market remain uncertain over whether the U.S would delay its tariff on China imports. Previously, reports from Wall Street Journal suggest that the U.S was mulling a delay for tariff to China. However, White House economic advisor Larry Kudlow have offset the positive news by stated that he could not confirm the delay on the tariff. Without a deal of delay before Dec 15, U.S is firmed to impose tariffs on another $156 billion on Chinese goods which include cellphones, laptops, tablets and more. Thus, the ongoing uncertainty in the progress continue to pressure the dollar sentiment while market awaits further confirmation from U.S. At the time of writing, dollar index fell 0.02% to 97.40 as of writing.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell 0.34% to $58.88 per barrel as of writing following ongoing pressure from inventory build and tension between U.S and China. Following the recent release from API which showed an increase in inventory build, investors now awaiting for further confirmation from EIA which they are expecting the same for the commodity. Besides that, U.S.-China trade tensions continue to cloud the outlook for the commodity\u2019s demand. On the other hand, gold price edge higher 0.03% to $1463.70 a troy ounce at the time of writing following cautious market ahead of FOMC.<\/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

03.00\u00a0\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 FOMC Statement<\/p>\n

(12th<\/sup> Dec)<\/p>\n

03.00\u00a0\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 FOMC Press Conference<\/p>\n

(12th<\/sup> Dec)<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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 – Core CPI (MoM) (Nov)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 CPI (MoM) (Nov)<\/td>\n0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-4.856M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
03.00 (12th<\/sup> Dec)<\/td>\nUSD \u2013 Fed Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/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 20 MA line (red) MACD which illustrated diminishing bearish momentum and the formation of golden cross suggest the index to extend its gains after it successfully breakout above the moving average line.<\/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 lower following prior retracement from the resistance level at 1.3170. MACD which illustrated diminishing bullish momentum suggest the pair to extend its retracement toward the support level at 1.3035.<\/p>\n

 <\/p>\n

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

Support level: 1.3035, 1.2970<\/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 illustrated bullish bias momentum suggest the pair to extend its gains toward 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 higher while currently testing the 50 moving average line (Blue). MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the moving average line.<\/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 flat neat the resistance level at 0.6815. However, MACD which illustrated bearish bias momentum suggest the pair to be traded lower in short term toward the support level at 0.6770.<\/p>\n

 <\/p>\n

Resistance level: 0.6815, 0.6855<\/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 0.6535. MACD which illustrated bearish momentum suggest the pair to extend its losses toward support level at 0.6490.<\/p>\n

 <\/p>\n

Resistance level: 0.6535, 0.6570<\/p>\n

Support level: 0.6490, 0.6460<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior retracement near the resistance level at 1.3265. However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3265, 1.3335<\/p>\n

Support level: 1.3210, 1.3145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9845. MACD which illustrated bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level at 0.9845.<\/p>\n

 <\/p>\n

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

Support level: 0.9845, 0.9810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 59.70, 60.80<\/p>\n

Support level: 58.60, 57.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1464.05. MACD which illustrated bearish momentum suggest the commodity to extend its losses toward the next support level at 1458.55.<\/p>\n

 <\/p>\n

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

Support level: 1458.55, 1448.95<\/p>\n

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

11 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 Afternoon Session Analysis   Greenback edge lower on diminishing hopes of tariff delay. Dollar index which measured against a basket of six major currency pairs continue to slip during late Asian session as market remain uncertain over whether the U.S would delay its tariff on China imports. Previously, reports from Wall Street […]<\/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\/92200"}],"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=92200"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/92200\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=92200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=92200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=92200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}