27 December 2021 Morning Session Analysis
Market silenced during holiday season.
Financial market was rather quiet during last Friday as we enter into trading session ahead of Christmas and New Year’s holidays. Last week, US dollar continues to trade within a tight range as market participants waits for more economic data from the US. Earlier, investors shifted their focus from US dollar to other risky assets in the market following positive reports with regards to Omicron variant. Observations shows that Omicron variant has a lower hospitalization rate and lesser severity of symptoms when being compared to Delta variant. However, investors remain cautious as Omicron has a far higher infectability rate which may jeopardize the healthcare system if precautions were not being taken. For the time being, investors will place their attention upon upcoming jobless data from US in order to determine US dollar’s trend direction. As of writing, the dollar index was down 0.01% to 95.98.
In the commodities market, crude oil price was down 0.57% to $73.34 per barrel. Oil prices were opened lower on Monday following rising Omicron variant around the globe which may jeopardize demand for crude oil if lockdown were initiated. On the other hand, gold price was down 0.03% to $1,807.83 a troy ounce as market participants waits for more signals in the financial market.
Today’s Holiday Market Close
Time Market Event
All Day US Christmas
All Day Germany Christmas
All Day Switzerland Christmas
All Day UK Christmas
All Day Australia Christmas
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
N/A
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the index to be traded higher in short-term.
Resistance level: 96.10, 96.35
Support level: 95.85, 95.65
GBPUSD, H4: GBPUSD was traded lower following prior retracement from higher level. MACD which illustrate diminished bullish signals suggests the pair to be traded lower in short-term.
Resistance level: 1.3410, 1.3470
Support level: 1.3355, 1.3290
EURUSD, H4: EURUSD was traded lower following prior retrace from higher level. MACD which illustrate diminished bullish momentum suggests the pair to be traded lower in short-term.
Resistance level: 1.1320, 1.1370
Support level: 1.1285, 1.1250
USDJPY, H4: USDJPY was traded higher following breakout from 114.35. However, MACD which illustrate bearish signal suggests the pair to be traded lower in short-term.
Resistance level: 114.35, 114.90
Support level: 113.70, 113.15
AUDUSD, H4: AUDUSD was traded lower following retracement from higher level. MACD which illustrate diminished bullish signal suggests the pair to be traded lower short-term.
Resistance level: 0.7280, 0.7320
Support level: 0.7225, 0.7180
NZDUSD, H4: NZDUSD was traded lower following prior retracement from higher levels. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.
Resistance level: 0.6830, 0.6870
Support level: 0.6780, 0.6740
USDCAD, H4: USDCAD was traded higher following prior rebound from lower levels. MACD which illustrate diminished bearish signal suggests the pair to be traded higher in short-term.
Resistance level: 1.2835, 1.2910
Support level: 1.2765, 1.2690
USDCHF, H4: USDCHF was traded higher following prior rebound from lower level. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term.
Resistance level: 0.9190, 0.9210
Support level: 0.9165, 0.9130
CrudeOIL, H4: Crude oil price was traded higher following prior rebound from lower levels. However, MACD which diminished bullish momentum suggests its price to be traded lower in short-term.
Resistance level: 75.65, 78.95
Support level: 73.00, 70.40
GOLD_, H4: Gold price was traded higher following prior rebound from lower levels. However, MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term.
Resistance level: 1808.70, 1821.70
Support level: 1792.60, 1777.00