{"id":94475,"date":"2019-12-26T06:11:34","date_gmt":"2019-12-26T06:11:34","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=94475"},"modified":"2019-12-26T06:11:34","modified_gmt":"2019-12-26T06:11:34","slug":"261219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/261219-afternoon-session-analysis\/","title":{"rendered":"261219 Afternoon Session Analysis"},"content":{"rendered":"

26 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

Forex market remain silent following Christmas holiday break.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies hovered near the level of 97.25 amid Christmas holiday leaving the market with thinner liquidity. Prior to now, US Trade Representative Robert Lighthizer revealed to the news reporters that both countries high possibly will sign off the first phase trade deal in the first week of January. On China side, Chinese Foreign Ministry spokesman Geng Shuang also commented that both sides economic and trade teams are in the last stage of follow up work, a formal deal agreement will be completed shortly. However, China administration has not confirmed the trade components yet while market are also awaiting for trade deal signing details. At the moment, it is seemingly that market will remain quiet for a certain period of time due to no economic data on tap while waiting for further information in geopolitical development. During Asian trading session, dollar index inched down 0.03% to 97.65.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.43% to $61.35 per barrel amid trade optimism and news regarding to cooperation between Russia and OPEC on oil production cuts. Nevertheless, market participants are still as usual paying their attention on crude oil inventories data in order to gauge the direction of this black commodity. Besides, gold price soared 0.35% to $1503.60 a troy ounce as market are awaits for more catalyst in post-Christmas.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n234K<\/td>\n220K<\/td>\n–<\/strong><\/td>\n<\/tr>\n
05:30<\/p>\n

(27th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n4.700M<\/td>\n–<\/td>\n–<\/strong><\/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 higher following prior breakout above the previous resistance level at 97.00. MACD which illustrated diminishing bearish momentum suggest the index to extend its gains toward resistance level at 97.55.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98,10<\/p>\n

Support level: 97.00, 96.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.2940. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3160, 1.3340<\/p>\n

Support level: 1.2940, 1.2755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1075. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1105.<\/p>\n

 <\/p>\n

Resistance level: 1.1105, 1.1140<\/p>\n

Support level: 1.1075, 1.1050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded within a range while currently testing the support level at 109.30. MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 109.65, 109.95<\/p>\n

Support level: 109.30, 108.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6925. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6925, 0.6970<\/p>\n

Support level: 0.6880, 0.6845<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6785. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6665, 0.6725<\/p>\n

Support level: 0.6585, 0.6505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3120. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3220.<\/p>\n

 <\/p>\n

Resistance level: 1.3220, 1.3310<\/p>\n

Support level: 1.3120, 1.3045<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9795. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9835, 0.9875<\/p>\n

Support level: 0.9795, 0.9750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 60.70. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 62.30, 63.70<\/p>\n

Support level: 60.70, 58.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1488.25. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction<\/p>\n

 <\/p>\n

Resistance level: 1511.00, 1529.25<\/p>\n

Support level: 1488.25, 1475.25<\/p>\n

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

26 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   Forex market remain silent following Christmas holiday break. Dollar index which gauge its value against a basket of six major currencies hovered near the level of 97.25 amid Christmas holiday leaving the market with thinner liquidity. Prior to now, US Trade Representative Robert Lighthizer revealed to the news […]<\/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\/94475"}],"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=94475"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/94475\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=94475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=94475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=94475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}