{"id":96343,"date":"2020-01-08T05:51:37","date_gmt":"2020-01-08T05:51:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=96343"},"modified":"2020-01-08T05:51:37","modified_gmt":"2020-01-08T05:51:37","slug":"080120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080120-afternoon-session-analysis\/","title":{"rendered":"080120 Afternoon Session Analysis"},"content":{"rendered":"

8 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Safe-haven rose sharply following missile attack. <\/strong><\/span><\/p>\n

Market demand for safe-haven assets skyrocketed this morning after Iran launches a rocket attack upon a base hosting US troops in Iraq, heightening tension in between both countries. Investor\u2019s fear over a full-blown war breaking out in the Middle East prompted a large selloff upon risky assets and rushed into safety. According to Reuters, rockets were fired at multiple targets including Iraq\u2019s al Asad airbase which hosts US forces. Pentagon said that the missiles were launched from Iran while Iranian news agency Mehr reported that the attack was launched by Iran\u2019s Islamic Revolutionary Guard Corps. The attack happened a few hours after the funeral service for Iran military commander which were killed by US drone strike at Baghdad International Airport last Friday. Subsequently, White House spokeswoman Stephanie Grisham confirmed that US President Donald Trump was briefed with regards to the attack and they are currently monitoring the situation. Following the missile strike, equities across the globe experienced significant selloff as traders shifts their portfolio into safe-haven such as Japanese Yen, Swiss Franc and gold. As of writing, pair of USD\/JPY slumped 0.24% to 108.16 while USD\/CHF ticked down 0.03% to 0.9700.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price surged more than 2.23% to $64.14 per barrel. Oil futures rose sharply after US said that its forces in Iraq was attacked by Iranian ballistic missiles that raised the prospect of regional conflagration which could lead to oil supply disruption. Similarly, gold price skyrocketed 0.95% to $1,588.70 a troy ounce following higher risk aversion in the 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
21.15<\/td>\nUSD – ADP Nonfarm Employment Change (Dec)<\/td>\n67K<\/td>\n160K<\/td>\n–<\/strong><\/td>\n<\/tr>\n
23.30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-11.463M<\/td>\n-3.572M<\/td>\n–<\/strong><\/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 lower following prior retracement from the resistance level at 96.65. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward support level at 96.15.<\/p>\n

 <\/p>\n

Resistance level: 96.65, 97.20<\/p>\n

Support level: 96.15, 95.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3105. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3175<\/p>\n

 <\/p>\n

Resistance level: 1.3175, 1.3225<\/p>\n

Support level: 1.3105, 1.3055<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1140. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gain towards resistance level at 1.1195.<\/p>\n

 <\/p>\n

Resistance level: 1.1195, 1.1225<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the support level at 107.70. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 108.75.<\/p>\n

 <\/p>\n

Resistance level: 108.75, 109.65<\/p>\n

Support level: 107.70, 106.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6850. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

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

Support level: 0.6850, 0.6810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6620. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6675.<\/p>\n

 <\/p>\n

Resistance level: 0.6675, 0.6735<\/p>\n

Support level: 0.6620, 0.6560<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3045. However, MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.2965.<\/p>\n

 <\/p>\n

Resistance level: 1.3045, 1.3110<\/p>\n

Support level: 1.2965, 1.2905<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9730. MACD which illustrated diminishing bullish momentum suggest the pair to extend its loses toward support level at 0.9670.<\/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, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 64.55. 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: 64.55, 66.40<\/p>\n

Support level: 62.45, 60.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1608.90. However, MACD which illustrated increasing bullish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1608.90, 1629.75<\/p>\n

Support level: 1582.00, 1552.15<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

8 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Safe-haven rose sharply following missile attack. Market demand for safe-haven assets skyrocketed this morning after Iran launches a rocket attack upon a base hosting US troops in Iraq, heightening tension in between both countries. Investor\u2019s fear over a full-blown war breaking out in the Middle East prompted a large […]<\/p>\n","protected":false},"author":61,"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\/96343"}],"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\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=96343"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/96343\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=96343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=96343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=96343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}