{"id":96985,"date":"2020-01-13T05:59:49","date_gmt":"2020-01-13T05:59:49","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=96985"},"modified":"2020-01-13T05:59:49","modified_gmt":"2020-01-13T05:59:49","slug":"130120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130120-afternoon-session-analysis\/","title":{"rendered":"130120 Afternoon Session Analysis"},"content":{"rendered":"

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

Dollar gap up amid optimism between US and China.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies open market higher this morning as recent news showed that resumption of semi-annual talks likely will be a part of phase 1 trade deal between US and China. Back then, US president Donald Trump announced to abandon this talk\u2019s plan with China after trade dispute between these two largest economy bodies escalated. The meeting session will likely be leaded by these country\u2019s top officials respectively, US Treasury Secretary Steven Mnuchin and Chinese Vice-Premier Liu He. The restart of this meeting was aimed to resolve the economic dispute between US and China as their economy\u2019s growth have been impacted negatively since the beginning of trade war. As of writing, dollar index rose 0.04% to 97.05. On the other hand, the pair of GBP\/USD inched down 0.19% to 1.3030 after Bank of England (BoE) policymaker Gertjan Vlieghe revealed to the Financial Timer\u2019s reporter that he will vote for a rate cut in the interest rate decision later this month. According to his opinion, he reiterated that uncertainties over Brexit has been weighed on this single currency for a long time, economy growth remained sluggish in accordance to recent economy data. Therefore, he insisted that a rate cut from BoE will be favorable toward the UK economy unless significant improvement showed in the upcoming economic data.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price notched down 0.14% to $59.10 per barrel amid recent stockpile in US crude oil inventories continue to pressure on this black commodity prices. Besides, gold price fall 0.35% to $1556.70 a troy ounce due to de-escalation of trade dispute between US and China.<\/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
17:30<\/td>\nGBP \u2013 GDP (YoY)<\/td>\n1.1%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Nov)<\/td>\n0.2%<\/td>\n-0.3%<\/td>\n<\/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 97.20. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 96.65.<\/p>\n

 <\/p>\n

Resistance level: 97.20, 97.60<\/p>\n

Support level: 96.65, 96.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3025. 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: 1.3075, 1.3130<\/p>\n

Support level: 1.3025, 1.2945<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was higher following prior rebound from the support level at 1.1080. MACD which illustrated diminishing momentum suggest the pair to extend its gains toward resistance level at 1.1145.<\/p>\n

 <\/p>\n

Resistance level: 1.1145, 1.1275<\/p>\n

Support level: 1.1080, 1.0990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 109.65. 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: 109.65, 110.55<\/p>\n

Support level: 108.75, 107.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently near the resistance level at 0.6925. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

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

Support level: 0.6845, 0.6810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently near the resistance level at 0.6650. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6650, 0.6675<\/p>\n

Support level: 0.6610, 0.6555<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3065. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3035.<\/p>\n

 <\/p>\n

Resistance level: 1.3065, 1.3100<\/p>\n

Support level: 1.3035, 1.2985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9740. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9670.<\/p>\n

 <\/p>\n

Resistance level: 0.9740, 0.9810<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 59.65. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 58.15.<\/p>\n

 <\/p>\n

Resistance level: 59.65, 61.00<\/p>\n

Support level: 58.15, 56.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1560.70. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1547.00.<\/p>\n

 <\/p>\n

Resistance level: 1560.70, 1575.00<\/p>\n

Support level: 1547.00, 1531.45<\/p>\n

 <\/p>\n

\u00a0<\/strong><\/p>\n

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

13 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Dollar gap up amid optimism between US and China. Dollar index which gauge its value against a basket of six major currencies open market higher this morning as recent news showed that resumption of semi-annual talks likely will be a part of phase 1 trade deal between US and […]<\/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\/96985"}],"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=96985"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/96985\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=96985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=96985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=96985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}