{"id":95165,"date":"2019-12-31T06:09:54","date_gmt":"2019-12-31T06:09:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=95165"},"modified":"2019-12-31T06:09:54","modified_gmt":"2019-12-31T06:09:54","slug":"311219-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/311219-afternoon-session-analysis\/","title":{"rendered":"311219 Afternoon Session Analysis"},"content":{"rendered":"

31 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

Pound stunned amid Brexit remain uncertain.<\/strong><\/span><\/p>\n

Pound sterling hovered near 1.3125 level after hitting two weeks high as market worries over Brexit\u2019s future path continue to weigh on this single currency. Prior to now, EU Commission President Ursula von der Leyen revealed that EU may need to extend the deadline for negotiation about a new trade relationship with UK, told the reporter from French daily Les Echos in an interview. Back to 3 weeks ago, Boris Johnson immediately announce to write into law that UK will leave EU before the end of year 2020 after Conservative party won majority seats in the general election, by attempting to block for further extension on transition period. However, it is seemingly that both sides are now should consider wisely whether an extension further talks on future trade deal and other series of issue is needed. A deal should be sealed as soon as possible in order to solve the Brexit issue which has been rattled the UK economic growth for more than 3 years. As of writing, the pair of GBP\/USD rose 0.12% to 1.3130. On the other hand, the pair of AUD\/USD rose 0.13% to 0.7000 following the release of positive manufacturing data from China. According to China Logistics Information Census, China Manufacturing PMI came in at 50.2, slightly higher than economist forecast of 50.1, indicating China\u2019s manufacturing sector remain resilient as a reading above 50 is a sign of expansion. Thus, the sentiment of Australian dollar turns fragrant as the country performance is positive correlated with China.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fall 0.03% to $61.65 per barrel after hitting 3 month highs level amid investor concern over the future outlook of crude oil demand in year 2020. Besides, there is a report showed that oil market may face lackluster demand and oil glut as market can see robust oil production from US and other major crude oil exporters. Besides, gold price inched up 0.44% to $1521.80 a troy ounce amid January effect, urging the investors shift their portfolio to gold market.<\/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
23:00<\/td>\nUSD – CB Consumer Confidence (Dec)<\/td>\n125.5<\/td>\n128.2<\/td>\n–<\/strong><\/td>\n<\/tr>\n
05:30<\/p>\n

(1st<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-7.900M<\/td>\n–<\/td>\n–<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior breakout below the previous support level 96.50. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 95.95.<\/p>\n

 <\/p>\n

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

Support level: 95.95, 95.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3115. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3225,1.3320<\/p>\n

Support level: 1.3115, 1.3005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently near the resistance level at 1.1220. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1220, 1.1270<\/p>\n

Support level: 1.1160, 1.1120<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 108.90. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 108.50.<\/p>\n

 <\/p>\n

Resistance level: 108.90, 109.35<\/p>\n

Support level: 108.50, 108.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6965. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7020, 0.7060<\/p>\n

Support level: 0.6965, 0.6915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6660. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6760.<\/p>\n

 <\/p>\n

Resistance level: 0.6760, 0.6825<\/p>\n

Support level: 0.6660, 0.6600<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3045. 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: 1.3110, 1.3180<\/p>\n

Support level: 1.3045, 1.2955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9670. 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: 0.9730, 0.9790<\/p>\n

Support level: 0.9670, 0.9585<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 61.70. 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: 61.70, 63.10<\/p>\n

Support level: 60.25, 58.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1512.45. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1531.60.<\/p>\n

 <\/p>\n

Resistance level: 1531.60, 1556.85<\/p>\n

Support level: 1512.45, 1488.25<\/p>\n

 <\/p>\n

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

31 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 stunned amid Brexit remain uncertain. Pound sterling hovered near 1.3125 level after hitting two weeks high as market worries over Brexit\u2019s future path continue to weigh on this single currency. Prior to now, EU Commission President Ursula von der Leyen revealed that EU may need to extend […]<\/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\/95165"}],"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=95165"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/95165\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=95165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=95165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=95165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}