{"id":92849,"date":"2019-12-16T03:25:14","date_gmt":"2019-12-16T03:25:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=92849"},"modified":"2019-12-16T03:30:33","modified_gmt":"2019-12-16T03:30:33","slug":"161219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/161219-afternoon-session-analysis\/","title":{"rendered":"161219 Afternoon Session Analysis"},"content":{"rendered":"

16 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

Aussie dollar rose as trade tension diminishes.<\/strong><\/span><\/p>\n

Australian dollar hovered near four-months high against the US dollar following optimistic sentiment within the market after US and China agreed upon phase one trade deal. Trade tension between Washington and Beijing cooled off after both parties reached consensus by cancelling some US tariffs upon China while the latter promises to purchase higher quantities of US agricultural products. The last-minute agreement which averted additional US tariffs upon Chinese goods totalling $160 billion refreshes the appeal of Australian dollar and other emerging market currencies while pushing US dollar and safe-haven Japanese yen downwards. As of writing, pair of
\nAUD\/USD rose 0.08% to 0.6881. In the other region, pair of GBP\/USD skyrocketed 0.40% to 1.3378 during Asian trading session. Pound sterling continues to receive bullish support after British Prime Minister Boris Johnson won the general election last week with majority of seats that enables him to end the Brexit deadlock which has linger for more than 3 years.<\/p>\n

 <\/p>\n

As for commodities, crude oil price rose 0.10% to $59.84 per barrel following diminishing trade tension between US and China which could help to prop up future demand for the commodity. On the other hand, gold price ticked down 0.05% to $1,474.82 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

\u00a0<\/u><\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\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
16:30<\/td>\nEUR \u2013 German Manufacturing PMI (Dec)<\/td>\n44.1<\/td>\n44.5<\/td>\n\u00a0<\/strong><\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Composite PMI<\/td>\n49.3<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing PMI<\/td>\n48.9<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Service PMI<\/td>\n49.3<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUS \u2013 Markit Composite PMI (Dec)<\/td>\n52.0<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
22:45<\/td>\nUS \u2013 Manufacturing PMI<\/td>\n52.6<\/td>\n52.6<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUS \u2013 Service PMI (Dec)<\/td>\n51.6<\/td>\n52.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower after closing below 96.80. MACD which illustrate bearish signal suggests the index to extend its losses, towards the direction of 96.15.<\/p>\n

 <\/p>\n

Resistance level: 96.80, 97.20<\/p>\n

Support level: 96.15, 95.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Weekly: <\/strong>GBPUSD was traded higher while currently testing at the resistance of 1.3390. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3390, 1.3765<\/p>\n

Support level: 1.3130, 1.2865<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following a rebound near the support of 1.1115. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.1145, 1.1180<\/p>\n

Support level: 1.1115, 1.1085<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 109.70, 110.10<\/p>\n

Support level: 109.35, 109.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the pair to extend its gains after breaking the resistance of 0.6885.<\/p>\n

 <\/p>\n

Resistance level: 0.6885, 0.6930<\/p>\n

Support level: 0.6865, 0.6845<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the 20-MA line (red). MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6620, 0.6660<\/p>\n

Support level: 0.6570, 0.6540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retrace from the upper level of descending wedge. MACD which illustrate diminished upward momentum suggests the pair to extend its losses after closing below the support of 1.3170.<\/p>\n

 <\/p>\n

Resistance level: 1.3220, 1.3245<\/p>\n

Support level: 1.3170, 1.3145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF remains traded within a sideways channel formation. MACD which illustrate bullish signal suggests the pair to extend its gains in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9865, 0.9885<\/p>\n

Support level: 0.9835, 0.9810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded flat near the top level of ascending channel. MACD which illustrate diminished upward momentum suggests the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 60.45, 61.65<\/p>\n

Support level: 58.55, 56.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level near 1477.00. MACD which illustrate diminishing bullish momentum suggests its price to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1477.00, 1483.60<\/p>\n

Support level: 1464.50, 1453.00<\/p>\n

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

16 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   Aussie dollar rose as trade tension diminishes. Australian dollar hovered near four-months high against the US dollar following optimistic sentiment within the market after US and China agreed upon phase one trade deal. Trade tension between Washington and Beijing cooled off after both parties reached consensus by cancelling […]<\/p>\n","protected":false},"author":25,"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\/92849"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=92849"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/92849\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=92849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=92849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=92849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}