{"id":94721,"date":"2019-12-27T05:57:32","date_gmt":"2019-12-27T05:57:32","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=94721"},"modified":"2019-12-27T05:57:32","modified_gmt":"2019-12-27T05:57:32","slug":"271219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/271219-afternoon-session-analysis\/","title":{"rendered":"271219 Afternoon Session Analysis"},"content":{"rendered":"

27 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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Pound dived amid heightening of Brexit\u2019s uncertainty.<\/strong><\/span><\/p>\n

Sterling pound slumped among major currencies amid the future path of Brexit remain unclear, possibility of hard Brexit has been lifted up recently. After Christmas holiday break, market participants has returned back into FX market, worries over a no deal Brexit continue to weigh on the single currency pound. At the moment, pound market sentiment turned sour as UK Prime Minister Boris Johnson was set to use his majority to take a hardline stance in talks with the European Union. After winning the general election with majority seat, Boris Johnson immediately mark his promise by writing into the law that UK will leave the EU in year 2020 and no any extension of transition period in the future. However, markets are seemingly lack of confidence with the decision of Boris Johnson as they doubt that UK might unable to reach a deal with EU in term of trade deal, security and law enforcement within the limited time. As of writing, the pair of GBP\/USD inched down 0.04% to 1.2985. On the other hand, the pair of USD\/JPY slumped 0.12% to 109.50 amid upbeat economic data from Japan triggered huge buy in pressure on Japanese Yen. According to the announcement of data, Japan Tokyo Core CPI and Industrial Production data came in at 0.8% and -0.9%, stronger than economist forecast of 0.6% and -1.4%, while showing a little bit of improvement in Japan economy condition after loosening their monetary policy for an extended period.<\/p>\n

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In the commodities market, crude oil price spiked by 0.13% to $61.80 per barrel amid easing of trade tension between two largest economy countries and huge crude oil\u2019s draw which shown in API inventories data continue to weigh on this black commodity. Besides, gold price inched up 0.17% to $1513.80 a troy ounce amid tax loss harvesting practice pushed up the demand of gold.<\/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<\/u><\/p>\n

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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
23:30<\/td>\nCrudeOil \u2013 Crude Oil inventories<\/td>\n-1.085M<\/td>\n–<\/td>\n—<\/strong><\/td>\n<\/tr>\n
02:00<\/p>\n

28th<\/sup><\/td>\n

CrudeOIL \u2013 U.S. Baker Hughes Oil Rig Count<\/td>\n685<\/td>\n–<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 97.25. MACD which illustrated diminishing bullish momentum suggest the index to be traded lower toward the support level at 96.85.<\/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 higher following prior rebound from the support level at 1.2965. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3035.<\/p>\n

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Resistance level: 1.3035, 1.3085<\/p>\n

Support level: 1.2965, 1.2895<\/p>\n

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EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1075. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.1170.<\/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, H4: <\/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 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 higher following prior breakout above the previous resistance level at 0.6925. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6965.<\/p>\n

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Resistance level: 0.6965, 0.7005<\/p>\n

Support level: 0.6925, 0.6880<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6665. However, MACD which illustrated diminishing bullish momentum suggest the pair to undergo short term technical correction toward the support level at 0.6665.<\/p>\n

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Resistance level: 0.6695, 0.6725<\/p>\n

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

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USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3145. MACD which illustrated bearish momentum suggest the pair to extend its losses toward the support level at 1.3085.<\/p>\n

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Resistance level: 1.3145, 1.3210<\/p>\n

Support level: 1.3085, 1.3020<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9810. Due to lack of signal from MACD, it is suggested to wait for further signal appear before entering into the market.<\/p>\n

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Resistance level: 0.9810, 0.9845<\/p>\n

Support level: 0.9770, 0.9725<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 60.80. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward the resistance level at 62.35.<\/p>\n

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Resistance level: 62.35, 63.05<\/p>\n

Support level: 60.80, 59.70<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1513.50. However, MACD which illustrated diminishing bullish momentum suggest the commodity to undergo short term technical correction toward the support level at 1501.95.<\/p>\n

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Resistance level: 1513.55, 1530.05<\/p>\n

Support level: 1501.95, 1490.35<\/p>\n

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27 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     Pound dived amid heightening of Brexit\u2019s uncertainty. Sterling pound slumped among major currencies amid the future path of Brexit remain unclear, possibility of hard Brexit has been lifted up recently. After Christmas holiday break, market participants has returned back into FX market, worries over a no deal […]<\/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\/94721"}],"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=94721"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/94721\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=94721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=94721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=94721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}