{"id":92630,"date":"2019-12-13T05:57:36","date_gmt":"2019-12-13T05:57:36","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=92630"},"modified":"2019-12-13T05:57:36","modified_gmt":"2019-12-13T05:57:36","slug":"131219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131219-afternoon-session-analysis\/","title":{"rendered":"131219 Afternoon Session Analysis"},"content":{"rendered":"

13 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

Sterling skyrocketed following bullish exit polls.<\/strong><\/span><\/p>\n

Pound sterling rose to a year high against the US dollar after official exit polls suggested a majority win for the Conservatives. According to the exit polls, Conservatives is expected to win 368 seats while opposition Labor will be taking 191 seats. In addition, 55 seats will be with Scottish National Party while Liberal Democrats is expected to win 13 seats. The early results with a majority win for Conservative will relive almost four years of political uncertainty while facilitating a smooth UK exit from the European Union. On the other hand, Reuters reported that the European Commission Head will be requesting for a mandate from the EU leaders today for next steps in Brexit process. They will monitor whether the UK Parliament will accept the withdrawal agreement in the near future in order to determine the next step. For the time being, investors will continue to wait for the final election results to attain further confirmation. As of writing, pair of GBP\/USD skyrocketed 2.50% to 1.3491. In other region, Japanese yen slumped sharply following diminishing risks in terms of trade war and Brexit. On yesterday, US President Donald Trump has signed off phase one trade deal with China, averting 15th<\/sup> December introduction of US tariffs against $160 billion of consumer goods from China. In the deal presented to Trump, a few highlights include a promise from Beijing to purchase more US agricultural products while Washington agree to remove some tariffs against China. Due to diminished risks, pair of USD\/JPY rose 0.22% to 109.54 as of writing.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price rose 0.47% to $59.47 per barrel. Oil futures received higher demand following diminishing trade war risk in between US and China which could prop up higher demand for the commodity in the future. On the other hand, gold price slipped 0.05% to $1,468.71 a troy ounce due to higher demand for risky assets.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nA<\/strong>ctual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUS \u2013 Core Retail Sales (MoM) (Nov)<\/td>\n0.2%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUS \u2013 Retail Sales (MoM) (Nov)<\/td>\n0.3%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
02:00 (14th Dec)<\/td>\nCrudeOIL \u2013 U.S. Baker Hughes Oil Rig Count<\/td>\n663<\/td>\n–<\/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 lower following prior breakout below the previous support level 96.90. MACD which illustrate ongoing bearish momentum suggest the dollar to extend its losses towards the support level 96.50.<\/p>\n

 <\/p>\n

Resistance level: 96.95, 97.55<\/p>\n

Support level: 96.50, 96.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing near the resistance level 1.3485. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level 1.3485.<\/p>\n

 <\/p>\n

Resistance level: 1.3485, 1.3600<\/p>\n

Support level: 1.3385, 1.3295<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level 1.1175. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1175, 1.1250<\/p>\n

Support level: 1.1080, 1.0990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level 109.40. MACD which display ongoing bullish bias signal suggest the pair to extend its gains towards the resistance level 109.90<\/p>\n

 <\/p>\n

Resistance level: 109.90, 110.65<\/p>\n

Support level: 109.40, 109.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level 0.6925. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6925, 0.6990<\/p>\n

Support level: 0.6885, 0.6850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6585. MACD which illustrate bullish momentum signal with the recent formation of golden cross suggest the pair to extend its gains towards the resistance level 0.6650.<\/p>\n

 <\/p>\n

Resistance level: 0.6650, 0.6710<\/p>\n

Support level: 0.6585, 0.6500<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level 1.3185. MACD which illustrate bearish bias signal suggest the pair to extend its losses towards the support level 1.3125.<\/p>\n

 <\/p>\n

Resistance level: 1.3185, 1.3260<\/p>\n

Support level: 1.3125, 1.3065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level 0.9845. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher towards the resistance level 0.9915.<\/p>\n

 <\/p>\n

Resistance level: 0.9915, 0.9980<\/p>\n

Support level: 0.9845, 0.9795<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance level 59.70. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 56.70, 60.85<\/p>\n

Support level: 58.55, 57.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1463.70. MACD which illustrate bearish bias signal with the formation of death cross suggest the commodity to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1477.90, 1497.00<\/p>\n

Support level: 1463.70, 1450.75<\/p>\n

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

13 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   Sterling skyrocketed following bullish exit polls. Pound sterling rose to a year high against the US dollar after official exit polls suggested a majority win for the Conservatives. According to the exit polls, Conservatives is expected to win 368 seats while opposition Labor will be taking 191 seats. […]<\/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\/92630"}],"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=92630"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/92630\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=92630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=92630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=92630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}