{"id":94029,"date":"2019-12-23T06:40:35","date_gmt":"2019-12-23T06:40:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=94029"},"modified":"2019-12-23T06:40:35","modified_gmt":"2019-12-23T06:40:35","slug":"231219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/231219-afternoon-session-analysis\/","title":{"rendered":"231219 Afternoon Session Analysis"},"content":{"rendered":"

23 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

Dollar remains firm as positive sentiment remain dominant.<\/strong><\/span><\/p>\n

Dollar index which measured against a basket of six major currency pairs continue to climbs at the start of holiday week as market are currently optimistic towards the U.S economy. On trade war, U.S President Donald Trump have stated on Friday that he had a \u201cvery good talk\u201d with Chinese Premier Xi Jinping about the phase one trade deal. Likewise, China\u2019s Ministry of Finance also stated that the country would lower or remove import tariffs on 850 products starting from Jan 1 which include pork, frozen avocado and certain technology products. On the side note, China have also started to make large purchases of U.S. agricultural products. Thus, the ongoing progress between U.S and China have increase the hopes of the market that the two country may have the potential to resolve its trade conflict, thus continue to fuel the strength for the greenback. At the time of writing, dollar index rose 0.04% to 97.21.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price remain steady and rose 0.13% to $60.38 per barrel at the time of writing amid positive progress between U.S and China. Following the latest development where President Donald Trump have provide some positive remarks on China and signaled that an agreement would be signed \u201cvery shortly\u201d, market remain optimistic about the demand outlook and continue to hold their ground. On the other hand, gold price also held firm and edge higher 0.11% to $1479.49 a troy ounce as investors remain cautious and enter the safe-haven market following market close for the holiday week.<\/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>\nActual<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Nov)<\/td>\n0.5%<\/td>\n0.1%<\/td>\n–<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 GDP (MoM) (Oct)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 New Home Sales (Nov)<\/td>\n733K<\/td>\n735K<\/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 following prior breakout above the previous resistance level 96.95. However, MACD which illustrate diminishing bullish momentum suggest the dollar to experience a short-term technical correction towards back the current support level 96.95.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98.20<\/p>\n

Support level: 96.95, 96.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing near the support level 1.2965. However, MACD which illustrate bullish bias signal with the starting formation of golden cross suggest the pair to experience a technical correction towards the resistance level 1.3095.<\/p>\n

 <\/p>\n

Resistance level: 1.3095, 1.3225<\/p>\n

Support level: 1.2965, 1.2830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.1105. However, MACD which illustrate diminishing bearish momentum suggest the pair to experience a technical correction towards the current resistance level 1.1105.<\/p>\n

 <\/p>\n

Resistance level: 1.1105, 1.1175<\/p>\n

Support level: 1.1045, 1.0990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded in a sideway channel while currently testing near the support level 109.25. However, MACD which illustrate bearish momentum signal suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 109.70, 110.20<\/p>\n

Support level: 109.25, 108.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level 0.6885. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.6925.<\/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 MA line 20 (red). However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower towards the support level 0.6565.<\/p>\n

 <\/p>\n

Resistance level: 0.6630, 0.6710<\/p>\n

Support level: 0.6565, 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 diminishing bullish momentum suggest the pair to extend its retracement 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 higher following prior rebound from the support level 0.9780. MACD which illustrate bullish momentum signal suggest the pair to extend its rebound towards the resistance level 0.9845.<\/p>\n

 <\/p>\n

Resistance level: 0.9845, 0.9915<\/p>\n

Support level: 0.9780, 0.9725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level 60.85. MACD which illustrate bearish momentum signal suggest the commodity to extend its retracement towards the support level 59.70.<\/p>\n

 <\/p>\n

Resistance level: 60.85, 62.05<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level 1478.50. However, due to lack of momentum and direction from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 1478.50, 1497.00<\/p>\n

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

 <\/p>\n

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

23 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   Dollar remains firm as positive sentiment remain dominant. Dollar index which measured against a basket of six major currency pairs continue to climbs at the start of holiday week as market are currently optimistic towards the U.S economy. On trade war, U.S President Donald Trump have stated on […]<\/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\/94029"}],"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=94029"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/94029\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=94029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=94029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=94029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}