11 April 2022 Morning Session Analysis
US Dollar surged amid diminishing risk appetite in the global market.
The Dollar index which traded a basket of six major currencies extend its gains over the backdrop of risk-off sentiment in the global financial market following the rising tensions Russian-Ukraine. According to Reuters, Ukraine claimed on Sunday that currently they were seeking for another round of European Union sanctions against Russia and more military support from its allies in order to combat the Russian military in the east of the country. Massive civilian casualties following hundreds of deaths in the town of Bucha have triggered widespread of international condemnation and new sanctions. As for now, top EU officials, Austrian Chancellor Karl Nehammer and British Prime Minister Boris Johnson had also pledged of another more military and financial aid and new sanctions for Ukraine. As for now, investors would continue to scrutinize the latest development with regards of the tensions between Russia-Ukraine to receive further trading signal. As of writing, the Dollar Index appreciated by 0.09% to 99.84.
In the commodities market, the crude oil price appreciated by 0.69% to 98.60 per barrel as of writing. The oil market edged higher as market participants concerned that the implementation of oil and gas sanction from European countries to Russia would likely to disrupt oil supply in future. On the other hand, the gold market surged 0.81% to $1947.45 per troy ounces as of writing.
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 |
| 14:00 | GBP – GDP (MoM) | 0.80% | – | – |
| 14:00 | GBP – GDP (YoY) | 6.60% | – | – |
| 14:00 | GBP – Manufacturing Production (MoM) (Feb) | 0.80% | 0.30% | – |
| 14:00 | GBP – Monthly GDP 3M/3M Change | 1.10% | – | – |
Technical Analysis
DOLLAR_INDX, Daily: Dollar index was traded higher after its breakout the previous resistance level. MACD which illustrated increasing bullish momentum suggest the index to extend its gains.
Resistance level: 100.50, 102.10
Support level: 99.35, 97.80
GBPUSD, H4: GBPUSD was traded lower following prior breakout below the previous support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.
Resistance level: 1.3090, 1.3195
Support level: 1.3000, 1.2855
EURUSD, H4: EURUSD was traded lower following prior breakout below the previous support level. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher as technical correction.
Resistance level: 1.0895, 1.0970
Support level: 1.0805, 1.0690
USDJPY, H4: USDJPY was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after breakout.
Resistance level: 124.35, 126.15
Support level: 123.25, 121.45
AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher as technical correction.
Resistance level: 0.7530, 0.7660
Support level: 0.7415, 0.7270
NZDUSD, H4: NZDUSD was traded lower following prior breakout below the previous support level. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher as technical correction.
Resistance level: 0.6880, 0.6975
Support level: 0.6800, 0.6730
USDCAD, H4: USDCAD was traded higher following prior rebounded from the support level. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded lower as technical correction.
Resistance level: 1.2635, 1.2750
Support level: 1.2485, 1.2315
USDCHF, Daily: USDCHF was traded higher following prior rebounded from the support level. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level.
Resistance level: 0.9425, 0.9580
Support level: 0.9230, 0.9110
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after breakout.
Resistance level: 97.75, 101.50
Support level: 92.50, 88.70
GOLD_, H4: Gold price was traded higher while currently near the resistance level. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after breakout.
Resistance level: 1944.55, 1973.00
Support level: 1912.60, 1881.35