{"id":98126,"date":"2020-01-20T06:05:59","date_gmt":"2020-01-20T06:05:59","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=98126"},"modified":"2020-01-20T06:05:59","modified_gmt":"2020-01-20T06:05:59","slug":"200120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200120-afternoon-session-analysis\/","title":{"rendered":"200120 Afternoon Session Analysis"},"content":{"rendered":"

20 January 2020\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 Brexit\u2019s uncertainty.<\/strong><\/span><\/p>\n

Pound sterling fall against other major country currencies as market concerned Brexit uncertainty will continue to tamper the economy growth of UK region. After Brexit legislation passed in the House of Common on 9th<\/sup> January without any amendment, the withdrawal agreement will now move into next stage where UK Prime Minister Boris Johnson must gain the approval from House of Lords with majority votes. In less than two week times until the Brexit deadline, a survey showed that there is only 47% of people support to leave European Union, indicating high unsureness across the entire UK toward the future path of Brexit. On the other sides, a member of European Parliament named Billy Kelleher has vowed that he will vote against Boris Johnson\u2019s Brexit deal with no doubt as the deal seemingly will erode the rights of citizens in Northern Ireland. This comment is likely to spark up renewed uncertainty across the members of European Parliament, potentially dragging out the entire progress of Brexit legislation. As of writing, the pair of GBP\/USD inched down 0.05% to 1.3000.<\/p>\n

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In the commodities market, crude oil price appreciated 0.60% to $59.15 per barrel as market concern over escalating tensions in North African believingly will affect the future crude oil supply. However, the gains of crude oil was limited after Baker Hughes rig oil count data reported a rise in number of rig oil. Besides, gold price rose 0.12% to $1558.00 a troy ounce amid weakening of dollar.<\/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<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15.00<\/td>\nEUR \u2013 German PPI (MoM) (Dec)<\/td>\n0.0%<\/td>\n0.2%<\/td>\n–<\/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>\uff1a<\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 97.25. MACD which illustrate bullish bias momentum signal suggest the dollar to extend its gains toward the next resistance level at 97.70.<\/p>\n

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Resistance level: 97.70, 98.20<\/p>\n

Support level: 97.25, 96.85<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.3035. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses toward the support level at 1.2965.<\/p>\n

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Resistance level: 1.3035, 1.3100<\/p>\n

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

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.1110.<\/p>\n

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Resistance level: 1.1110, 1.1160<\/p>\n

Support level: 1.1075, 1.1035<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level 110.20. However, MACD which illustrate bearish bias momentum signal suggest the pair to experience a technical correction in short term towards the support level 109.65.<\/p>\n

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Resistance level: 110.20, 110.55<\/p>\n

Support level: 109.65, 109.25<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.6880. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.6925.<\/p>\n

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

Support level: 0.6880, 0.6850<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the lower level. MACD which illustrate bearish momentum signal suggest the pair to undergo short term technical correction toward the support level at 0.6600.<\/p>\n

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Resistance level: 0.6620, 0.6650<\/p>\n

Support level: 0.6600, 0.6570<\/p>\n

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USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3020. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the next resistance level at 1.3085.<\/p>\n

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Resistance level: 1.3085, 1.3145<\/p>\n

Support level: 1.3020, 1.2960<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9665. MACD and price action which illustrate positive divergence signal suggest the pair to extend its gains toward the resistance level at 0.9690.<\/p>\n

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Resistance level: 0.9690, 0.9725<\/p>\n

Support level: 0.9665, 0.9625<\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil was traded lower following prior retracement from the resistance level at 59.70. MACD which illustrate diminishing bullish momentum signal suggests the commodity to extend its losses toward the support level at 58.60.<\/p>\n

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Resistance level: 59.70, 60.35<\/p>\n

Support level: 58.60, 57.55<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level 1561.85. MACD which illustrate bullish bias momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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Resistance level: 1561.85, 1572.10<\/p>\n

Support level: 1551.10, 1538.45<\/p>\n","protected":false},"excerpt":{"rendered":"

20 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis     Pound dived amid Brexit\u2019s uncertainty. Pound sterling fall against other major country currencies as market concerned Brexit uncertainty will continue to tamper the economy growth of UK region. After Brexit legislation passed in the House of Common on 9th January without any amendment, the withdrawal agreement will […]<\/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\/98126"}],"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=98126"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/98126\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=98126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=98126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=98126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}