26 April 2019 Morning Session Analysis
Greenback persistently advances further.
US dollar managed to extend its gains against other major currencies despite downfall in jobless claims for last week. The dollar index rose 0.03% to 97.84 during Asian trading session. In a positive notion, the US Commerce Department reported on yesterday that Core Durable Goods Orders for the month of March rose 0.4%, slightly higher than economist forecast for a rise of up to 0.2%. However, gains on the dollar was limited after US Department of Labour reported that initial jobless claims rose to a total of 230,000 for last week, missing economist forecast of 199,000. Filing for unemployment benefits rose the most since late 2017, snapping a five-weeks streak of decline. The data may indicate that the labour market starts to cooldown although overall condition remains robust. On the other hand, pair of GBP/USD ticked down 0.01% to 1.2899 this morning. Sterling struggles to recover from its prior low as pressure increases upon UK Prime Minister Theresa May to resign due to her inability to break the current Brexit deadlock. Increasing Brexit and political uncertainty in the region has dialled down its investment appeal, leading to a slump in sterling.
In the commodities, crude oil price retraced by 0.08% to $64.97 per barrel. Oil price failed to extend its gains following possible supply increases after OPEC supply cut agreement expires in June. Otherwise, gold price rose 0.06% to $1,277.99 a troy ounce following higher risk aversion in the market due to risks in UK and EU.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Market & Data | Previous | Forecast | Actual |
| 20:30 | USD – GDP (QoQ) (Q1) | 2.2% | 2.0% | – |
| 22:00 | USD – Michigan Consumer Sentiment (Apr) | 96.9 | 97.1 | – |
| 01:00
(27th) |
CrudeOIL – US Baker Hughes Oil Rig Count | 825 | – | – |
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 in mid-term, towards the direction of 98.60.
Resistance level: 98.60, 100.15
Support level: 97.65, 96.85
GBPUSD, Daily: GBPUSD was traded lower following prior close below 1.2900. MACD which illustrate bearish signal suggests the pair to extend its losses in mid-term, towards the direction of 1.2805.
Resistance level: 1.2900,1.3000
Support level: 1.2805, 1.2670
EURUSD, Daily: EURUSD was traded lower following prior close below 1.1200. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 1.1100.
Resistance level: 1.1200, 1.1300
Support level: 1.1100, 1.0960
USDJPY, H4: USDJPY was traded lower while currently testing near the support of 111.45. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 111.45.
Resistance level: 111.75, 112.20
Support level: 111.45, 111.00
AUDUSD, H1: AUDUSD was traded lower following prior retracement from its higher levels. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term towards 0.6990.
Resistance level: 0.7070, 0.7145
Support level: 0.6990, 0.6935
NZDUSD, H1: NZDUSD was traded lower following prior retracement from the resistance of 0.6630. MACD which illustrate diminished upward momentum suggests the pair to be traded lower, towards the direction of 0.6580.
Resistance level: 0.6630, 0.6670
Support level: 0.6580, 0.6540
USDCAD, H4: USDCAD was traded lower following prior close below 1.3485. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term as technical correction.
Resistance level: 1.3485, 1.3530
Support level: 1.3435, 1.3400
USDCHF, H4: USDCHF was traded lower while currently testing near the support of 1.0190. MACD which illustrate bearish signal suggests the pair to extend its losses in short-term after closing below 1.0190.
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 top level of ascending channel. MACD which has formed a bearish signal suggests its prices to be traded lower in short-term towards 64.65.
Resistance level: 66.00, 67.65
Support level: 64.65, 63.70
GOLD_, H4: Gold price remains traded within a sideways channel in between 1279.45 and 1271.40. MACD which illustrate bullish signal suggests its prices to extend further up after closing above the strong resistance of 1279.45.
Resistance level: 1279.45, 1284.15
Support level: 1275.30, 1271.40