15 October 2019 Morning Session Analysis
Greenback slump amid pessimistic trade talk.
Dollar index slump after China want more talks before signing “phase one”. Last Friday, U.S. and China trade talk ended well and they have agreed on the outlines of a partial trade, cited Reuters. In fact, President Donald Trump also claimed that he and China’s Xi Jinping could sign a finalize agreement in phase one between US and China as soon as next month at the Asia-Pacific Economic Cooperation summit. However, according to the news on Monday, China claimed that they want to hold more talk this month to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it. In addition, China wants Donald Trump to scrap a planned tariff hike, something the administration has not yet endorsed. Such negative sentiment has been significantly rising the investors’ doubt toward the resolution of trade war, spurring sell-off for Dollar index. For the time being, investors would continue to scrutinize the latest news of trade war to gauge the movement of the pair. On the other hand, Pound Sterling came in under pressure as geopolitics risk rose in UK amid to Brexit issue. The hopes for the soft-Brexit before 31st October dimmed after the EU leaders have told Boris Johnson there is no way to strike a Brexit agreement before this week’s summit, destroying his hopes of presenting a deal to parliament at a special sitting on Saturday. As of writing, Dollar index rose 0.14% to 98.16 and GBP/USD surged 0.06% to 1.2613.
In the commodities market, crude oil price tumbles as U.S and China trade talks turn into pessimism. On the other hand, gold price rose amid to weaker Greenback on yesterday. As of writing, crude oil price rose 0.21% to $53.55 per barrel and gold price slump 0.09% to $1491.71 per troy ounces.
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 | Nation & Data | Previous | Forecast | Actual |
| 16:30 | GBP – Average Earnings Index +Bonus (Aug) | 4.0% | 4.0% | – |
| 16:30 | GBP – Claimant Count Change (Sep) | 28.2K | 26.5K | – |
| 17:00 | EUR – German ZEW Economic Sentiment (Sep) | -22.5 | -27.0 | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level of 97.95. MACD which illustrate bullish signal suggests the index to be traded higher in short-term as technical correction.
Resistance level: 98.20, 98.30
Support level: 97.95, 97.75
GBPUSD, H4: GBPUSD was traded flat while currently testing near the support of 1.2600. MACD which begins to form bearish signal suggests the pair to extend its losses after closing below the support level.
Resistance level: 1.2670, 1.2750
Support level: 1.2600, 1.2515
EURUSD, H4: EURUSD was traded lower following prior retrace from its higher level. MACD which begins to form bearish signal suggests the pair to be traded lower in short-term as technical correction.
Resistance level: 1.1070, 1.1105
Support level: 1.1010, 1.0960
USDJPY, H4: USDJPY was traded lower following prior retrace from 108.45. MACD which begins to form bearish signal suggests the pair to be traded lower in short-term as technical correction.
Resistance level: 108.45, 108.75
Support level: 108.10, 107.60
AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level of 0.6745. MACD which illustrate diminishing bearish momentum suggests the pair to be traded higher in short-term.
Resistance level: 0.6800, 0.6830
Support level: 0.6745, 0.6705
NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support of 0.6285. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.
Resistance level: 0.6310, 0.6340
Support level: 0.6285, 0.6250
USDCAD, H1: USDCAD was traded lower following prior retrace near the 60-MA line (green). MACD which illustrate diminishing bullish momentum suggests the pair to be traded lower in short-term after breaking 1.3220.
Resistance level: 1.3255, 1.3275
Support level: 1.3220, 1.3190
USDCHF, H4: USDCHF was traded flat near the support level of 0.9970. MACD which illustrate diminished upward momentum suggest the pair to extend its losses after closing below the support level.
Resistance level: 1.0010, 1.0065
Support level: 0.9970, 0.9925
CrudeOIL, H4: Crude oil price was traded lower while currently testing near the support of 53.00. MACD which illustrate bearish signal suggests its price to extend its losses after closing below 53.00.
Resistance level: 54.45, 55.55
Support level: 53.00, 51.60
GOLD_, H4: Gold price was traded lower following prior retrace from the 20-MA line (red). MACD which illustrate diminishing upward momentum suggests its price to be traded lower in short-term.
Resistance level: 1511.00, 1532.40
Support level: 1484.05, 1460.00