{"id":99603,"date":"2020-01-31T03:02:36","date_gmt":"2020-01-31T03:02:36","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=99603"},"modified":"2020-01-31T03:02:36","modified_gmt":"2020-01-31T03:02:36","slug":"310120-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/310120-afternoon-session-analysis\/","title":{"rendered":"310120 Afternoon Session Analysis"},"content":{"rendered":"

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

Safe-haven plunged as WHO declares global emergency.<\/strong><\/span><\/p>\n

Safe-haven Japanese yen and Swiss Franc slumped during Asian trading session following diminishing fears upon the economic impact of China\u2019s coronavirus epidemic. In a press conference held on yesterday, World Health Organization (WHO) declared the new coronavirus outbreak as a global emergency as it continues to spread outside of China. The decision was made after the total number of individuals diagnosed with the new strain of coronavirus skyrocketed to 8,200, surpassing the total number of cases for SARS. With the declaration of global emergency from WHO, it may further heighten global response towards the outbreak, in return which may led to shorter time-frame of the epidemic and thus limiting its impact upon global economy. In addition, WHO praised China for taking \u201cextraordinary measures\u201d in order to prevent the virus from spreading further. Prior, China has shutdown numerous cities which includes epicenter of the outbreak in Wuhan in order to curb the epidemic. As of writing, pair of USD\/JPY rose 0.10% to 109.05 while USD\/CHF appreciates by 0.07% to 0.9698.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.06% to $52.95 per barrel. Following the declaration of global emergency from WHO, investor\u2019s pessimistic sentiment the economic impact from coronavirus outbreak diminishes, raising prospect for a possible rebound in oil demand after the epidemic is being contained. On the other hand, gold price slumped 0.02% to $1,573.54 a troy ounce due to higher demand for risky assets 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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 CPI (YoY) (Jan)<\/td>\n1.3%<\/td>\n1.4%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 GDP (MoM) (Nov)<\/td>\n-0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

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

CrudeOIL \u2013 U.S. Baker Hughes Oil Rig Count<\/td>\n676<\/td>\n–<\/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 while currently testing at the upward trendline. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking the trendline.<\/p>\n

 <\/p>\n

Resistance level: 97.65, 97.90<\/p>\n

Support level: 97.20, 97.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to extend its gains towards the direction of 1.3135.<\/p>\n

 <\/p>\n

Resistance level: 1.3135, 1.3200<\/p>\n

Support level: 1.3055, 1.2970<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to extend its gains towards the direction of 1.1050.<\/p>\n

 <\/p>\n

Resistance level: 1.1050, 1.1080<\/p>\n

Support level: 1.1005, 1.0990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to advance further up in short-term.<\/p>\n

 <\/p>\n

Resistance level: 109.20, 109.65<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the lower level. MACD which begins to form bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6800, 0.6870<\/p>\n

Support level: 0.6700, 0.6570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior closure below 0.6490. MACD which illustrate bearish signal suggests the pair to extend its losses in mid-term, towards the direction of 0.6430.<\/p>\n

 <\/p>\n

Resistance level: 0.6490, 0.6545<\/p>\n

Support level: 0.6430, 0.6345<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the lower level. However, MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3220, 1.3305<\/p>\n

Support level: 1.3120, 1.3030<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9725, 0.9780<\/p>\n

Support level: 0.9670, 0.9620<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests its price to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 54.20, 56.25<\/p>\n

Support level: 52.05, 49.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retrace from the resistance of 1585.30. MACD which illustrate bearish signal suggests its price to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1574.00, 1578.00<\/p>\n

Support level: 1567.00, 1561.40<\/p>\n

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

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

31 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Safe-haven plunged as WHO declares global emergency. Safe-haven Japanese yen and Swiss Franc slumped during Asian trading session following diminishing fears upon the economic impact of China\u2019s coronavirus epidemic. In a press conference held on yesterday, World Health Organization (WHO) declared the new coronavirus outbreak as a global emergency […]<\/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\/99603"}],"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=99603"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/99603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=99603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=99603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=99603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}