{"id":94250,"date":"2019-12-24T06:07:39","date_gmt":"2019-12-24T06:07:39","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=94250"},"modified":"2019-12-24T06:07:39","modified_gmt":"2019-12-24T06:07:39","slug":"241219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/241219-afternoon-session-analysis\/","title":{"rendered":"241219 Afternoon Session Analysis"},"content":{"rendered":"

24 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

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Market embraced the holiday spirit following Christmas Eve.<\/strong><\/span><\/p>\n

Dollar index which measured against a basket of six major currency pairs have held steady during late Asian session ahead of Christmas. As the market celebrating the Christmas, trading volume have been subdued by the holiday break. However, the greenback remain buoyed as market continue to positively react towards the trade development and signs of solid U.S economy despite thin market. In regards of relationship between U.S and China, the sentiment was mixed as U.S President Donald Trump stated that he have a very \u201cnice talk\u201d with the China and also hinted the possibility of signing trade deal in January. However, on the other hand China criticized U.S. on interfering in its internal affairs on Hong Kong, Taiwan and other matters. The news could regain the tension between the both powerhouses and could reduce the possibility of signing the phase one trade deal. Still, recent economy data that published on Friday showed the U.S. economy, already in its longest expansion in history which continue to supporting the demand for the greenback while market awaits further progress on trade talk next month. At the time of writing, dollar index ticked higher 0.03% to 97.23.<\/p>\n

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In the commodities market, crude oil price rose 0.06% to $60.56 per barrel as of writing amid lower inventory forecast. According to a preliminary Reuters poll, market expects crude stocks to have fallen by about 1.8 million barrels for last week in the upcoming data, a second week of declines. On the other hand, gold price soars 0.23% to $1488.63 a troy ounce amid geopolitical turmoil and low interest rates.<\/p>\n

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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

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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

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher while currently testing the resistance level at 97.25. MACD which illustrated starting bullish momentum and the formation of golden cross suggest the index to extend its gains after it successfully breakout above the resistance level at 97.25.<\/p>\n

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Resistance level: 97.25, 97.70<\/p>\n

Support level: 96.85, 96.25<\/p>\n

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GBPUSD, H1: <\/strong>GBPUSD was traded flat near the 20 moving average line (Red). MACD which illustrate bullish momentum suggest the pair to be traded higher after it successfully breakout above the 20 moving average line (Red).<\/p>\n

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Resistance level: 1.2965, 1.3035<\/p>\n

Support level: 1.2895, 1.2820<\/p>\n

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EURUSD, Daily: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1075. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 1.1075.<\/p>\n

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

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

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USDJPY, Daily: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 109.70. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 109.25.<\/p>\n

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Resistance level: 109.70, 110.25<\/p>\n

Support level: 109.25, 108.95<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6925. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6880.<\/p>\n

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Resistance level: 0.6925, 0.6965<\/p>\n

Support level: 0.6880, 0.6850<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6620. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 0.6620.<\/p>\n

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Resistance level: 0.6640, 0.6665<\/p>\n

Support level: 0.6620, 0.6600<\/p>\n

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USDCAD, Daily: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level at 1.3145. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.3210.<\/p>\n

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

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

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the 50 moving average line (Blue). MACD which illustrate bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the 50 moving average line (Blue).<\/p>\n

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Resistance level: 0.9845, 0.9885<\/p>\n

Support level: 0.9810, 0.9770<\/p>\n

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\n
<\/div>\n<\/div>\n
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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the 50 moving average line (Blue). MACD which illustrate diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 60.80.<\/p>\n

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Resistance level: 60.80, 62.35<\/p>\n

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

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GOLD_, H1: <\/strong>Gold price was traded higher while currently testing near the resistance level at 1490.15. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level at 1490.15.<\/p>\n

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Resistance level: 1490.15, 1495.50<\/p>\n

Support level: 1484.70, 1477.60<\/p>\n

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

24 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     Market embraced the holiday spirit following Christmas Eve. Dollar index which measured against a basket of six major currency pairs have held steady during late Asian session ahead of Christmas. As the market celebrating the Christmas, trading volume have been subdued by the holiday break. However, the […]<\/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\/94250"}],"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=94250"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/94250\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=94250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=94250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=94250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}