25 April 2019 Morning Session Analysis
Greenback catapults as its peers relinquished.
US dollar advances further, touching its highest level in almost two-years following a slump in other major currencies such as euro and pound sterling. The dollar index which measure its strength against a basket of six major currencies rose 0.43% to 97.74, its highest level since 18th May 2017. In the UK front, pair of GBP/USD fell 0.35% to 1.2905 following bearish developments with regards to politics. Conservative lawmakers decided on yesterday to go against tweaking leadership rules that would allow fresh attempts to oust UK Prime Minister Theresa May. The move was suggested after lawmakers within May’s party call for her resignation as current Brexit talks with opposition leader Jeremy Corbyn has reportedly stalled. Due to higher political and Brexit uncertainty in the UK, investors dumped sterling and forgo for other currencies in the market. Similarly, pair of EUR/USD depreciates by 0.58% to 1.1157 due to downbeat economic data from Germany. According to report, German Ifo Business Climate Index came in at 99.2, lower than economist forecast for a reading of 99.9. The data accompanies a slew of economic releases prior which shows significant reduction in economic momentum.
In the commodities section, crude oil price was down by 0.06% to $65.65 during Asian trading session. Oil prices snaps its bullish streak after Energy Information Administration reported that its stockpiles were up by 5.48 million barrels last week. American supplies grew for the fourth time in five weeks, indicating mediocre demand while coupled with extensive production. Otherwise, gold price was down by 0.06% to $1,274.87 a troy ounce due to stronger greenback.
Today’s Holiday Market Close
Time Market Event
All Day AUD ANZAC Day
All Day NZD ANZAC Day
Today’s Highlight Events
Time Market Event
Tentative JPY BoJ Monetary Policy Statement
Tentative JPY BoJ Outlook Report
Tentative JPY BoJ Press Conference
16:00 EUR ECB Economic Bulletin
Today’s Highlight Economic Data
| Time | Market & Data | Previous | Forecast | Actual |
| Tentative | JPY – BoJ Interest Rate Decision | -0.10% | -0.10% | – |
| 18:00 | GBP – CBI Industrial Trends Orders (Apr) | 1 | 3 | – |
| 20:30 | USD – Core Durable Goods Orders (MoM) (Mar) | -0.1% | 0.2% | – |
| 20:30 | USD – Initial Jobless Claims | 192K | 199K | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index extended gains following prior close above 97.65. MACD which illustrate bullish signal suggests the index to advance further up, towards the direction of 98.60.
Resistance level: 98.60, 100.15
Support level: 97.65, 96.85
GBPUSD, Daily: GBPUSD extended its losses following prior close below 1.2900. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 1.2805.
Resistance level: 1.2900, 1.3000
Support level: 1.2805, 1.2670
EURUSD, Daily: EURUSD remains traded within a downward channel while recently closed below 1.1200. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.1100.
Resistance level: 1.1200, 1.1300
Support level: 1.1100, 1.0960
USDJPY, H4: USDJPY remains traded within a sideways channel while currently testing at the strong resistance of 112.20. MACD which has formed a golden cross signal suggests the pair to extend its gains after closing above 112.20.
Resistance level: 112.20, 112.80
Support level: 111.75, 111.45
AUDUSD, Daily: AUDUSD remains traded within a downward channel while currently testing near the support of 0.6990. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 0.6990.
Resistance level: 0.7070, 0.7145
Support level: 0.6990, 0.6885
NZDUSD, H4: NZDUSD was traded lower while currently testing near the support of 0.6580. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 0.6580.
Resistance level: 0.6630, 0.6670
Support level: 0.6580, 0.6540
USDCAD, H4: USDCAD extended its gains following prior close above 1.3485. MACD which illustrate bullish signal suggests the pair to advance further up, towards the direction of 1.3530.
Resistance level: 1.3530, 1.3575
Support level: 1.3485, 1.3435
USDCHF, H4: USDCHF was traded higher following prior rebound from the support of 1.0190. MACD which illustrate diminished downward momentum suggests the pair to be traded higher, towards the direction of 1.0265.
Resistance level: 1.0265, 1.0310
Support level: 1.0190, 1.0100
CrudeOIL, H4: Crude oil price was traded lower following prior retrace from the resistance of 66.00. MACD which has formed a negative divergence signal suggests its prices to be traded lower after closing below the 20-MA line (red).
Resistance level: 66.00, 67.65
Support level: 64.65, 63.70
GOLD_, H4: Gold price was traded lower following prior retracement from its prior high level. MACD which illustrate diminishing upward momentum suggests its prices to be traded lower, towards the direction of 1267.00.
Resistance level: 1275.30, 1284.15
Support level: 1267.00, 1253.25