Daily Analysis

2 December 2019                              Afternoon Session Analysis

Other major currency markets popped up.

Dollar index which measured its value against the other major currencies fall amid strengthening of other country’s single currency. Last Friday, German Unemployment Change data came in at -16k while comparing to market forecast of 5k, hinting EU labor market still remain stable and seemingly their economy is in the pace of returning to expansionary stage soon. This upbeat data shows that ongoing loosen monetary policy which offering more stimulus has been take into effect on EU economy while board of ECB reiterated they will continue to eye on more economic data at the meantime. As of writing, the pair of EUR/USD rose 0.04% to 1.1020. On the other hand, Caixin Manufacturing PMI data from China was also came in at an optimistic reading 51.8, unexpectedly stronger than economist forecast at 51.4 while showing sign of expansion in China economy for the first time since April. Good news from China’s economy eventually dragged up the market demand toward its major trading partner currencies, Aussie dollar and Kiwi. As of writing, the pair of AUD/USD quoted up 0.16% to 0.6775 and NZD/USD inched up 0.41% to 0.6445 respectively.

In the commodities market, crude oil price rose 1.19% to $56.00 per barrel due to bearish market profit taking after falling to 10 days low level. Previously, there was news showed that OPEC and its allies are averse to deepening their oil cut production in the coming week meeting. Besides, gold price surged 0.28% to $1459.65 a troy ounce amid heightening of investor’s risk appetite.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

22.00                     EUR                                        ECB President Lagarde Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher while currently testing the resistance level 98.20. MACD which illustrate diminishing bearish momentum suggest the dollar to extend its gains after successfully breakout above the resistance level at 98.20.

Resistance level: 98.20, 98.80

Support level: 97.70, 97.25

GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level at 1.2945. However, MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.2890.

Resistance level: 1.2945, 1.2970

Support level: 1.2890, 1.2855

EURUSD, Daily: EURUSD was traded higher following prior rebound from the support level 1.1005. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.1075.

Resistance level: 1.1075, 1.1170

Support level: 1.1005, 1.0930

USDJPY, H4: USDJPY was traded higher following prior rebound from the support level at 109.40. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 109.80.

Resistance level: 109.80, 110.25

Support level: 109.40, 109.00

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.6770. Due to lack of signal from MACD, it is suggested to wait for further confirmation such as breakout above or retracement before entering the market.

Resistance level: 0.6770, 0.6810

Support level: 0.6750, 0.6700

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6430. MACD which illustrate bullish momentum suggest the pair to extend its gains after its candle successfully close above the resistance level at 0.6430.

Resistance level: 0.6430, 0.6465

Support level: 0.6365, 0.6325

USDCAD, H4: USDCAD was traded higher following prior rebound from the support level at 1.3265. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.3335.

Resistance level: 1.3335, 1.3395

Support level: 1.3265, 1.3210

USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 1.0005. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term toward the support level at 0.9985.

Resistance level: 1.0005, 1.0050

Support level: 0.9985, 0.9945

CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the support level at 55.30. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains toward the resistance level at 56.25.

Resistance level: 56.25, 56.80

Support level: 55.30, 54.65

GOLD_, H4: Gold price was traded lower while currently testing the support level at 1458.85. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its losses after it successfully breakout below the support level at 1458.85.

Resistance level: 1471.65, 1480.95

Support level: 1458.85, 1448.95

2 December 2019                              Morning Session Analysis

Dollar fell amid receding trade optimism.

Dollar index which measured against a basket of six major rival pairs have slipped after reports of stalling progress in trade development. According to China Times, China is now insists that the the tariffs must be rolled back as part of the first-phase trade deal. President Trump’s negotiating team have stated that the China deal have been “stalled because of Hong Kong legislation”. The news have since worsen the sentiment and may derail any progress on further trade talk while the next batch of U.S tariff on Chinese goods will be kick off on Dec 15. As market are slowly back from last week’s Thanksgiving holiday, investors will continue to remain focus for further catalyst to gauge market sentiment. At the time of writing, dollar index fell 0.05% to 98.12 as of writing.

In the commodities market, crude oil recovers 0.56% to $55.70 at the time of writing after a huge sell-off by the market concerns of OPEC supply cut deal. Prince Abdulaziz bin Salman who recently took over from Khalid Al-Falih have voiced his concerns over OPEC deal, stated that Saudi Arabia will no longer compensate for other members non-compliance. The news have since causing a selling frenzy in the market. On the other hand, gold price soars 0.20% to $1462.25 a troy ounce at the time of writing following ongoing trade concerns towards U.S and China.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

22.00                     EUR                                        ECB President Lagarde Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the resistance level 98.20. MACD which illustrate bearish momentum signal suggest the dollar to extend its losses towards the support level 97.60

Resistance level: 98.20, 98.90

Support level: 97.60, 96.95

GBPUSD, H4: GBPUSD remain traded in a sideway channel following recent retracement from its high level. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term towards the support level 1.2785.

Resistance level: 1.2970, 1.3095

Support level: 1.2785, 1.2690

EURUSD, H4: EURUSD was traded higher following prior rebound from the support level 1.0990. MACD which illustrate bullish momentum suggest the pair to extend its rebound towards the resistance level 1.1080.

Resistance level: 1.1080, 1.1170

Support level: 1.0990, 1.0925

USDJPY, H4: USDJPY was traded flat near the support level 109.40. However, MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to be traded lower after it breaks below the support level.

Resistance level: 109.90, 110.65

Support level: 109.40, 109.00

AUDUSD, H4: AUDUSD was traded lower following prior breakout below the support level 0.6770. MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 0.6770, 0.6825

Support level: 0.6720, 0.6675

NZDUSD, H4: NZDUSD was traded flat near the resistance level 0.6435. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded higher after it breaks above the resistance level.

Resistance level: 0.6435, 0.6500

Support level: 0.6340, 0.6275

USDCAD, H4: USDCAD was traded flat near the support level 1.3260. However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher towards the resistance level 1.3340.

Resistance level: 1.3340, 1.3385

Support level: 1.3260, 1.3185

USDCHF, H4: USDCHF was traded higher following recent rebound from the support level 0.9980. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.0050.

Resistance level: 1.0050, 1.0115

Support level: 0.9980, 0.9915

CrudeOIL, H4: Crude oil price was lower following prior breakout below the support level 56.30. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses towards the support level 54.85.

Resistance level: 56.30, 57.50

Support level: 54.85, 53.85

GOLD_, H4: Gold price was traded higher while currently testing near the resistance level 1463.70. However, MACD which illustrate bullish momentum signal suggest the commodity to experience a technical correction towards the support level 1447.05.

Resistance level: 1463.70, 1477.90

Support level: 1447.05, 1429.50

29 November 2019                            Afternoon Session Analysis

Dollar remains high as Fed cut expectation fade.

Dollar index which measured against a basket of six major currency pairs continue to holding its high ground during late Asian trading session as market scale back their rate cut expectation. Despite recent headlines in trade development between U.S and China, investors remain firm as recent data suggest the economy in U.S remain in a strong footing. Besides that, Fed also recently hinted an upbeat outlook following stronger labor market and a possible turnaround in business investment, thus prompting investors to continue holding their bets of the greenback. As market are expected to be thinly traded due to Thanksgiving Holiday, investors will be waiting for further catalyst to determine the sentiment for the greenback. As of writing, dollar index edge higher 0.02% to 98.20.

In the commodities market, crude oil price edge lower 0.03% to $58.05 per barrel as the time of writing amid mixed reaction on U.S and China tension over Hong Kong build. Investors are concerned that the move might delay further a preliminary agreement between the United States and China to put an end to their trade war that has slowed global economic growth, and consequently consumption of oil. On the other hand, gold price slips 0.05% to $1457.03 a troy ounce at the time of writing amid stronger dollar and thin market.

Today’s Holiday Market Close

Time                                       Market                  Event

Early close at 2AM             USD                                        Thanksgiving Day

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, Daily: Dollar index was traded higher while currently testing the resistance level at 98.25. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.

Resistance level: 98.25, 98.70

Support level: 97.60, 97.05

GBPUSD, Daily: GBPUSD was traded higher while currently testing the resistance level at 1.2965. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1.2965, 1.3180

Support level: 1.2765, 1.2550

EURUSD, Daily: EURUSD was traded lower while currently testing the support level at 1.0990. However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.1080, 1.1165

Support level: 1.0990, 1.0900

USDJPY, Daily: USDJPY was traded higher following prior breakout above the previous resistance level at 109.35. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 109.80.

Resistance level: 109.80, 110.50

Support level: 109.35, 108.40

AUDUSD, Daily: AUDUSD was traded lower following prior breakout below the previous support level at 0.6800. However, MACD which illustrated diminishing bearish momentum suggest the pair to be trade higher in short-term as technical correction.

Resistance level: 0.6800, 0.6835

Support level: 0.6730, 0.6685

NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level at 0.6410. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6435.

Resistance level: 0.6435, 0.6455

Support level: 0.6410, 0.6390

USDCAD, Daily: USDCAD was traded higher following prior rebound from the support level at 1.3265. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 1.3325, 1.3375

Support level: 1.3265, 1.3210

USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 0.9990. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.9990, 1.0025

Support level: 0.9940, 0.9885

CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level at 57.90. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 58.65.

Resistance level: 58.65, 59.45

Support level: 57.90, 56.75

GOLD_, H4: Gold price was traded within a range while currently testing the support level at 1456.60. MACD which illustrated increasing bullish momentum suggest the commodity to be traded higher toward resistance level at 1464.75.

Resistance level: 1464.75, 1471.80

Support level: 1456.60, 1448.65

29 November 2019                            Morning Session Analysis

Greenback hovered amid Thanksgiving holiday.  

Dollar index which gauge its value against a basket of six major currencies was traded flat around two weeks high level at 98.25 amid US market closed. In Thanksgiving holidays, all the market in US is expected to have minimal volatility and thin liquidity as not much of important economic data will be released within these two days. However, escalation in trade war due to US President Donald Trump recent sign off on backing Hong Kong bill lit up the market fears over achievability of phase 1 trade deal. Yesterday, China vowed that they will take retaliatory measures against US as Hong Kong extradition affair are China internal affairs that not allow for any other countries interference. Nonetheless, no further details on retaliatory action been announced from China administration yet, thus market participants are still keeping their eye on more development in trade war between this two parties. Moreover, the pair of EUR/USD rose despite disappointed German CPI been announced on last night. German CPI which acted as advanced inflation gauging data fail to excite the euro market sentiment as the data came in at -0.8, weaker than economist forecast at -0.6%. As of writing, dollar index down 0.04% to 98.25 while EUR/USD quoted up 0.05% to 1.1010.

In the commodities market, crude oil price inched down 0.33% to $58.00 per barrel amid recent crude oil inventories build and Trump’s backing on Hong Kong bills tampered the future outlook of crude oil market. On the other hand, gold price dipped by 0.13% to $1456.00 a troy ounce due to the lack of risk factors in the market.

Today’s Holiday Market Close

Time                                       Market                  Event

Early close at 2AM             USD                                        Thanksgiving Day

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, Daily: Dollar index was traded higher following prior breakout above the previous resistance level at 98.20. MACD which illustrate bullish bias momentum suggest the pair to extend its gains toward next resistance level at 98.80.

Resistance level: 98.80, 99.05

Support level: 98.25, 97.70

GBPUSD, H4: GBPUSD was traded lower following prior retracement from the higher level. MACD which illustrated bearish signal suggest the pair to be traded lower toward the support level at 1.2865.

Resistance level: 1.2970, 1.3035

Support level: 1.2865, 1.2820

EURUSD, Daily: EURUSD was traded lower while currently testing the support level at 1.1000. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1075, 1.1170

Support level: 1.1000, 1.0930

USDJPY, H4: USDJPY was traded higher following prior rebound from the support level at 109.40.  However, MACD which illustrated diminishing bullish momentum suggest the pair to undergo short term technical correction toward the support level.

Resistance level: 109.80, 110.25

Support level: 109.40, 109.00

AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level at 0.6770. MACD which illustrated bearish momentum suggest the pair to extend its losses toward the support level at 0.6750.

Resistance level: 0.6770, 0.6810

Support level: 0.6750, 0.6700

NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level at 0.6430. MACD which illustrate bearish signal suggest the pair to extend its losses toward the support level at 0.6365.

Resistance level: 0.6430, 0.6460

Support level: 0.6365, 0.6325

USDCAD, H4: USDCAD was traded lower while currently testing the upward trend line. MACD which illustrated bearish momentum suggest the pair to extend its losses after it successfully breakout below the upward trend line.

Resistance level: 1.3335, 1.3395

Support level: 1.3275, 1.3210

USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 0.9985. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 0.9985.

Resistance level: 0.9985, 1.0005

Support level: 0.9945, 0.9915

CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the 50 moving average line (Blue).  MACD which illustrated diminishing of bearish momentum suggest the commodity to extend its gains toward the resistance level at 58.55.

Resistance level: 58.55, 59.20

Support level: 57.50, 56.80

GOLD_, H4: Gold price was traded flat below the resistance level at 1458.70. MACD which illustrate bullish signal suggest the commodity to be traded higher in short term.

Resistance level: 1458.70, 1471.65

Support level: 1448.95, 1443.75

28 November 2019                            Afternoon Session Analysis

Pound sterling soars following election prediction.

Pound sterling which traded against the greenback continue to extend its gains during late Asian session amid YouGov’s MRP poll prediction. The YouGov’s Poll on MRP model is highly respected due to its predictions of the UK election outcome ever since they forecasted a hung parliament in 2017. According to its polls, YouGov predicts that the Tories party will remain in majority with 68 seats. Besides that, The Guardian and The Times also predicts the Tories party will have a significant majority over the Labour Party. Thus, the predictions have strengthen the expectation of market that the Conservative will lead in the election, driving market sentiment and causing investors to flood into pound sterling market. As market are expected to be quiet following Thanksgiving Day, investors will continue to await for further catalyst to determine further direction for the pair. At the time of writing, GBP/USD rose 0.08% to 1.2927 while dollar index slips 0.04% to 98.20.

In the commodities market, crude oil price fell 0.50% to $57.83 per barrel as of writing amid sentiment remains weak towards oil market after a surprise build in its inventories. On top of that, investors are also concerned regarding the outlook for the demand due to U.S meddling in China’s political interest. Gold price climbs 0.20% to $1457.19 at the time of writing following the ongoing uncertainty between U.S and China.

Today’s Holiday Market Close

Time                       Market                  Event

All day                    USD                                        Thanksgiving Day

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

N/A

Technical Analysis

DOLLAR_INDX, Daily: Dollar Index was traded higher while currently testing the resistance level at 98.25. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.

Resistance level: 98.25, 98.75

Support level: 97.60, 96.95

GBPUSD, Daily: GBPUSD was traded higher while currently testing the resistance level at 1.2965. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1.2965, 1.3180

Support level: 1.2765, 1.2550

EURUSD, Daily: EURUSD was traded lower while currently testing the support level at 1.0980. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1080, 1.1165

Support level: 1.0980, 1.0900

USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level at 109.20. However, MACD which illustrated diminishing bullish momentum suggest the pair to traded lower in short-term as technical correction.

Resistance level: 109.55, 109.95

Support level: 109.20, 108.75

AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.6755. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 0.6790, 0.6820

Support level: 0.6755, 0.6725

NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level at 0.6410. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 0.6435, 0.6455

Support level: 0.6410, 0.6390

USDCAD, Daily: USDCAD was traded higher following prior rebound from the support level at 1.3265. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 1.3325, 1.3375

Support level: 1.3265, 1.3210

USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 0.9990. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.9990, 1.0025

Support level: 0.9940, 0.9885

CrudeOIL, H4: Crude oil price was traded lower following prior breakout below the previous support level at 58.00. MACD which illustrate increasing bearish momentum suggest the commodity to extend its losses toward support level at 57.10.

Resistance level: 58.00, 58.65

Support level: 57.10, 56.30

GOLD_, H4: Gold price was traded higher following prior rebound from the support level at 1452.35. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.

Resistance level: 1477.40, 1492.35

Support level: 1452.35, 1430.20

28 November 2019                            Morning Session Analysis

Greenback surged amid sign of economic recovery.

Dollar index which gauge its value against a basket of six major currencies appreciated to six weeks high level following upbeat data been released in US region on yesterday. In a full of economy data day, US Core Durable Goods Orders and GDP were came in at 0.6% and 2.1% respectively, obviously stronger than the economist forecast of 0.2% and 1.9%. These data showed that US economy growth has started to pick up slightly, and it is noteworthy that the increase in consumer consumption and export are the main components driven up the US third quarter GDP. However, market start to concern over the deadlock of phase 1 trade deal between US and China, as whether it will remain unsolved for an extended period and eventually tamper the global economy growth. Moreover, today early breaking news showed that President Trump has agreed with the decision of congress by signing two bills that backing the Hong Kong protesters. Trump revealed that he signed these bills out of the respect for President Xi, while two countries are still working hard to solve the trade war issue. This unexpected move by Trump will be seen as teasing the relationship between China and Hong Kong as US is interfering the internal affairs of these countries. As of writing, dollar index quoted up 0.06% to 98.25.

In the commodities market, crude oil price quoted down 0.21% to $58.00 per barrel amid EIA data showed a build in US crude oil inventories level at 1.572M, while economist forecast a decline of 0.418M. Moreover, recent sign off on Hong Kong bill escalated the trade tensions and lifted up the uncertainties of future crude oil demand as. On the other hand, gold price appreciated by 0.13% to $1455.85 a troy ounce amid heightening of trade tensions between US and China.

Today’s Holiday Market Close

Time                       Market                  Event

All day                    USD                                        Thanksgiving Day

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

N/A

Technical Analysis

DOLLAR_INDX, Daily: Dollar index was traded higher while currently testing the resistance level at 98.20. MACD which illustrate bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 98.20

Resistance level: 98.20, 98.80

Support level: 97.70, 97.25

GBPUSD, Daily: GBPUSD was traded higher following prior breakout above the previous resistance level at 1.2865. MACD which illustrated bullish signal suggest the pair to extend its gains toward the resistance level at 1.2970.

Resistance level: 1.2970, 1.3035

Support level: 1.2865, 1.2820

EURUSD, Daily: EURUSD was traded lower while currently testing the support level at 1.1000. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1075, 1.1170

Support level: 1.1000, 1.0930

USDJPY, H4: USDJPY was traded lower while currently testing the support level at 109.40. However, MACD which illustrated bullish bias momentum suggest the pair to undergo short term technical correction toward the higher level.

Resistance level: 109.80, 110.25

Support level: 109.40, 109.00

AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.6770. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 0.6810, 0.6840

Support level: 0.6770, 0.6750

NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level at 0.6425. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 0.6365.

Resistance level: 0.6425, 0.6460

Support level: 0.6365, 0.6325

USDCAD, H4: USDCAD was traded higher following prior rebound from the upward trend line. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.3335.

Resistance level: 1.3335, 1.3395

Support level: 1.3275, 1.3210

USDCHF, Daily: USDCHF was traded higher while currently testing the resistance level at 0.9985. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 0.9985.

Resistance level: 0.9985, 1.0005

Support level: 0.9945, 0.9915

CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 58.55. MACD which illustrated diminishing of bearish momentum suggest the commodity to extend its losses toward the support level at 57.50.

Resistance level: 58.55, 59.20

Support level: 57.50, 56.80

GOLD_, H4: Gold price traded higher following prior rebound from the lower level. Due to lack of signal from MACD, it is suggested to wait for further signal appear before entering the market.

Resistance level: 1458.70, 1471.65

Support level: 1448.95, 1443.75

27 November 2019                            Afternoon Session Analysis

Kiwi rose following upbeat trade balance.

The New Zealand Kiwi which traded against the greenback rose during late Asian session following the release of its regional trade balance data. According to New Zealand Statistics, trade balance in New Zealand which measure the differences between import and export have improved to -1,013M for the month of October, slightly better than market expectation of -1,621M. Besides that, the pair also benefited from the positive comments of Financial Stability Report. According to the report, Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr emphasized that a few large banks having access to their offshore funding is “something we have to watch” and will be working closely to alter the Loan to Value Ratio (LVR) if needed. Thus, the optimism in data and the report continue to extend the rally of the New Zealand kiwi while investors now awaiting further confirmation. At the time of writing, pair of NZD/USD climbs 0.06% to 0.6425.

In the commodities market, crude oil price slips 0.21% to $58.13 per barrel at the time of writing as the disappointing figures from crude inventories continue to pressure the sentiment. However, the losses were capped by optimism around the signing of the first phase of a U.S.-China trade deal. On the other hand, gold price rose 0.09% to $1460.15 as of writing following ongoing trade optimism that continue to drag the commodity’s price.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

Tentative                              GBP                                        BoE MPC Treasury Committee Hearings

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the resistance level at 98.20. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 97.95.

Resistance level: 98.20, 98.40

Support level: 97.95, 97.75

GBPUSD, Daily: GBPUSD was traded lower following prior retracement from the resistance level at 1.2965. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2765.

Resistance level: 1.2965, 1.3180

Support level: 1.2765, 1.2550

EURUSD, Daily: EURUSD was traded lower while currently testing the support level at 1.1010. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.1080, 1.1165

Support level: 1.1010, 1.0955

USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level at 109.00. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 109.20.

Resistance level: 109.20, 109.40

Support level: 109.00, 108.80

AUDUSD, Daily: AUDUSD was traded lower following prior breakout below the previous support level at 0.6800. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 0.6800, 0.6860

Support level: 0.6750, 0.6710

NZDUSD, H4: NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6410. MACD which illustrate increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6435.

Resistance level: 0.6435, 0.6455

Support level: 0.6410, 0.6390

USDCAD, Daily: USDCAD was traded lower following prior retracement from the resistance level at 1.3325. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.3265

Resistance level: 1.3325, 1.3375

Support level: 1.3265, 1.3210

USDCHF, Daily: USDCAD was traded higher while currently testing the resistance level at 0.9980. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.9980, 1.0010

Support level: 0.9945, 0.9900

CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 58.65. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.

Resistance level: 58.65, 59.45

Support level: 57.90, 56.75

GOLD_, H4: Gold price was traded lower following prior retracement from the 20 MA line (Red). However, MACD which illustrated increasing bullish momentum suggest its price to be traded higher in short-term as technical correction.

Resistance level: 1464.85, 1472.40

Support level: 1456.70. 1448.65

27 November 2019                            Morning Session Analysis

Dollar sink following downbeat economic data.

Dollar index which gauge its value against a basket of six major currencies fall following bearish signals were given by the negative economic data yesterday. According to the Conference Board, US CB Consumer Confidence data came in at 125.5, weaker than economist forecast at 127.0 while hinting the US economic growth is expected to remain weak in the final quarter of year 2019.   Moreover, housing data in US region has also recorded a drop of 0.7% to 733K from previous month reading 738K, and market believes that the recent slowdown in housing sector was mainly due to pause signal in adjusting interest rate by Federal Reserve (Fed). Nonetheless, the latest trade development between US and China has limited the losses of greenback where there are news reporting that both sides are moving closer to achieving on phase one trade deal. Additionally, White House adviser Conway also revealed that there are only few sticking points remain unsolved while talk is still ongoing in order to rule out the possibility of failure in deal. As of writing, dollar index inched down 0.07% to 98.10.

In the commodities market, crude oil price quoted down 0.15% to $58.20 per barrel after hitting recent highest level around $58.60 amid surprise build in crude oil inventories level disappoints the oil market’s sentiment. According to API data, US crude oil inventories level slightly declined from previous month reading of 5.954M to 3.639M. On the other hand, gold price appreciated by 0.04% to $1461.70 a troy ounce amid pessimistic data in US lifted up the market risk aversion behavior.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

Tentative                              GBP                                        BoE MPC Treasury Committee Hearings

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the resistance level at 98.20. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 97.70.

Resistance level: 98.20, 98.80

Support level: 97.70, 97.25

GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level at 1.2865. MACD which illustrated bearish signal suggest the pair to extend its losses toward the support level at 1.2820.

Resistance level: 1.2865, 1.2970

Support level: 1.2820, 1.2770

EURUSD, Daily: EURUSD was traded lower while currently testing the support level at 1.1000. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1075, 1.1170

Support level: 1.1000, 1.0930

USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level at 109.00. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the next resistance level at 109.40.

Resistance level: 109.40, 109.80

Support level: 109.00, 108.40

AUDUSD, H4: AUDUSD was traded higher following prior breakout above the downward trend line. MACD which illustrated bullish signal suggest the pair to extend its gains toward the resistance level at 0.6810.

Resistance level: 0.6810, 0.6840

Support level: 0.6770, 0.6705

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6425. MACD which illustrated bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.6425, 0.6460

Support level: 0.6365, 0.6325

USDCAD, H4: USDCAD was traded lower while currently testing the upward trend line. MACD which illustrated bearish momentum suggest the pair to extend its losses after it successfully breakout below the trend line.

Resistance level: 1.3375, 1.3335

Support level: 1.3210, 1.3145

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level at 0.9985. MACD which illustrated bearish momentum and the formation of death cross suggest the pair to extend its losses toward support level at 0.9945.

Resistance level: 0.9985, 1.0005

Support level: 0.9945, 0.9915

CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 58.55. MACD which illustrated diminishing of bearish momentum and the formation of golden cross suggest the commodity to extend its gains after it successfully breakout above the resistance level.

Resistance level: 58.55, 59.20

Support level: 57.50, 56.80

GOLD_, H4: Gold price traded higher following prior breakout above the previous resistance level at 1458.70. MACD which illustrated bullish momentum suggest the commodity to extend its gains toward the next resistance level at 1471.65.

Resistance level: 1471.65, 1480.95

Support level: 1458.70, 1448.95

26 November 2019                            Afternoon Session Analysis

Dollar buoyed amid trade tension eased.

Dollar index which gauge its value against a basket of six major currencies remain scented as recent news shows significant progress in trade talk between two largest economy bodies, US and China. According to Xinhua News, top negotiators from both countries held a phone talks yesterday and had come into consensus in resolving related issues while remaining issue recurring in phase 1 trade deal will continuingly be discussed. The optimism of trade talk continue to lift up the sentiment of greenback as the chance of reaching a trade deal is around the corner. However, greenback gains were limited following a neutral speech given by the chairman of Federal Reserve (Fed) Jerome Powell in the early morning. In the speech, Powell revealed that the first priority commitment of central bank is to meet the inflation goals, which is at 2%. Despite three interest rate cuts were conducted within past few months, however they are still unable to support the US economy growth while their inflation is running well below its potential level. Therefore, an interest rate hikes or cuts is not suitable for their economy yet, current stance of monetary policy is expectedly to remain in place for the time being while eyeing on more economic data. As of writing, dollar index inched down 0.03% to 98.15.

In the commodities market, crude oil price quoted up 0.14% to $57.95 per barrels amid the news of extension on crude oil production cut and progress in trade talk persist to exerted bullish momentum for this black commodity. On the other hand, gold price appreciated 0.01% to $1454.70 a troy ounce amid weakening of dollar index.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher while currently testing the resistance level 98.20. However, MACD which illustrate diminishing bullish momentum signal suggest the dollar to experience a technical correction towards the support level 97.60

Resistance level: 98.20, 98.90

Support level: 97.60, 96.95

GBPUSD, H4: GBPUSD remain traded in a sideway channel. However, MACD which illustrate bullish bias signal suggest the pair to be traded higher in short term towards the resistance level 1.2970.

Resistance level: 1.2970, 1.3095

Support level: 1.2795, 1.2690

EURUSD, H4: EURUSD was traded lower while currently testing near the support level 1.0990. However, MACD which display diminishing bearish momentum signal suggest the pair to undergo a technical correction towards the resistance level 1.1080.

Resistance level: 1.1080, 1.1170

Support level: 1.0990, 1.0925

USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level 108.85. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction in short term towards the current support level 108.85.

Resistance level: 109.40, 109.90

Support level: 108.85, 108.25

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support level 0.6770. However, MACD which illustrate diminishing bearish bias signal suggest the pair to be traded higher as a technical correction towards the resistance level 0.6825.

Resistance level: 0.6825, 0.6880

Support level: 0.6770, 0.6715

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level 0.6425. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level 0.6425.

Resistance level: 0.6425, 0.6500

Support level: 0.6340, 0.6275

USDCAD, H4: USDCAD was traded higher following prior rebound from the MA line 20 (red). MACD which illustrate diminishing bearish bias signal suggest the pair to extend its gains towards the resistance level 1.3340.

Resistance level: 1.3340, 1.3385

Support level: 1.3260, 1.3185

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level 0.9980. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its retracement towards the support level 0.9915.

Resistance level: 0.9980, 1.0025

Support level: 0.9915, 0.9845

CrudeOIL, H4: Crude oil price was traded flat while currently testing the resistance level 58.05. However, MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to be traded lower towards the support level 56.30.

Resistance level: 58.05, 59.40

Support level: 56.30, 54.85

GOLD_ H4: Gold price was traded lower while currently testing near the support level 1445.70. However, MACD which display diminishing bearish momentum signal suggest the commodity to experience a technical correction towards the resistance level 1477.90.

Resistance level: 1477.90, 1497.00

Support level: 1458.50, 1445.70

26 November 2019                           Morning Session Analysis

Pound surged amid positive outlook for Brexit

Pound Sterling surged from recent lows amid to positive prospect for Brexit outlook. According to Reuters, Pound Sterling received some bullish momentum as the Conservative Party continued to maintain its lead in the poll against the Labour Party, increasing the probability for UK Prime Minister Boris Johnson to win a majority at the upcoming general election on 12th December 2019. Such sentiment has enhanced the hope upon the resolution of the Brexit, insinuating the demand for the Pound Sterling. However, a recent poll had showed that the Conservative’s lead over the main opposition Labour Party was narrowing during the last week, limited the further gains experienced by the Pound Sterling. On the other hand, Dollar index received some bullish momentum amid to positive outlook for the trade deal between United States and China, spurring the risk sentiment and the demand for the greenback on Monday. According to Bloomberg, China was seeking to substantially raise the upper limits for intellectual property violations fines in order to reduce the tensions between the US and China. At this time, investors would continue to scrutinize the latest news with regard of trade war and Brexit, as well as economic data to gauge the likelihood movement of these pairs. As of writing, GBP/USD appreciated by 0.02% to 1.2898 while Dollar Index surged 0.02% to 98.16.

In the commodities market, crude oil price was traded flat at $57.89 per barrels. Investors would continue to scrutinize the crude oil inventories data as well as OPEC’S meeting which scheduled next month in order to obtain further trade signals for the commodity. On the other hand, gold price depreciated by 0.03% to $1451.19 per troy ounces amid diminishing trade tensions and stronger greenback.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher while currently testing the resistance level at 98.20. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 98.20, 98.40

Support level: 97.95, 97.75

GBPUSD, Daily: GBPUSD was traded higher while currently near the resistance level at 1.2965. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1.2965, 1.3180

Support level: 1.2765, 1.2550

EURUSD, Daily: EURUSD was traded lower while currently testing the support level at 1.1000. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1080, 1.1165

Support level: 1.1000, 1.0900

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level at 109.05. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 109.05, 109.20

Support level: 108.80, 108.65

AUDUSD, Daily: AUDUSD was traded lower while currently testing the support level at 0.6765. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 0.6820, 0.6875

Support level: 0.6765, 0.6705

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6410. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.6410, 0.6435

Support level: 0.6390, 0.6375

USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level at 1.3325. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.3325, 1.3375

Support level: 1.3265, 1.3210

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level at 0.9980. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9945.

Resistance level: 0.9980, 1.0010

Support level: 0.9945, 0.9915

CrudeOIL, Daily: Crude oil price was traded lower following prior retracement from the resistance level at 58.35. MACD which illustrated increasing bullish momentum suggest the commodity to be traded higher in short-term as technical correction.

Resistance level: 58.35, 60.05

Support level: 56.75, 55.50

GOLD_, Daily: Gold price traded lower while currently near the support level at 1447.50. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.

Resistance level: 1489.30, 1514.65

Support level: 1447.50, 1413.70

25 November 2019                           Afternoon Session Analysis

Yen slumped amid to trade optimism.

The safe-haven currency such as Japanese Yen was traded lower amid hope upon the resolution of trade war escalated and strong US data, which stoked a shift in market sentiment toward riskier asset.  According to Reuters, China plans to improve the protection of intellectual property rights, which reducing the trade tensions between the United Stated and China. In fact, Japanese Yen received further selloff pressure following Chinese President Xi JinPing said on Friday that he wants to reach an agreement with US, while U.S President Donald Trump said that the trade talk progress was going well. In addition, U.S national security adviser Robert O’Brien said on Saturday that a deal was possible by the end of the year. Hence, such sentiment has enhancing the risk appetite in the market, spurring the selloff of the safe-haven.  However, escalating tensions over Hong Kong have emerged as a fresh complication in the trade talks, which might increase the uncertainty outlook for the trade deal. On the other hand, pound sterling surged amid to positive prospect for Brexit. According to CNN, British Prime Minister Boris Johnson, whose Conservative Party leads in opinion polls ahead of the 12th December 2019 election, promise that he will “get Brexit done” and bring a deal to leave the European Union back to parliament before Christmas. However, bleak data from the UK region which released on last Friday had limited the gains experienced by the Pound Sterling. As of writing, USD/JPY appreciated by 0.12% to 108.75 while GBP/USD surged 0.13% to 1.2845.

In the commodities market, crude oil price slumped 0.10% to $57.84 per barrels. Investors would continue to scrutinize the crude oil inventories data as well as OPEC’s meeting which scheduled next month in order to gauge the likelihood movement of the commodity. On the other hand, gold price depreciated by 0.04% to $1461.00 per troy ounces amid to positive prospect for trade deal between U.S and China.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout above the previous resistance level at 97.95. MACD which illustrated increasing bullish momentum suggest the index to extend its gains toward resistance level at 98.20.

Resistance level: 98.20,98.40

Support level: 97.95, 97.75

GBPUSD, Daily: GBPUSD was traded lower following prior retracement from the resistance level at 1.2965. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2765.

Resistance level: 1.2965, 1.3180

Support level: 1.2765, 1.2550

EURUSD, H4: EURUSD was traded higher following prior rebound from the support level at 1.1010. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.1080.

Resistance level: 1.1080, 1.1165

Support level: 1.1010, 1.0955

USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level at 108.65. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 108.85.

Resistance level: 108.85, 109.10

Support level: 108.65, 108.40

AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level at 0.6785. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6825.

Resistance level: 0.6825, 0.6850

Support level: 0.6785, 0.6760

NZDUSD, H4: NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6410. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.6435.

Resistance level: 0.6435, 0.6455

Support level 0.6410, 0.6390

USDCAD, Daily: USDCAD was traded higher following prior rebound from the support level at 1.3265. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 1.3325, 1.3375

Support level: 1.3265, 1.3210

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level at 0.9980. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9945.

Resistance level: 0.9980, 1.0010

Support level: 0.9945, 0.9900

CrudeOIL, Daily: Crude oil was traded lower following prior retracement from the resistance level at 58.65. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.

Resistance level: 58.65, 60.50

Support level: 56.75, 55.40

GOLD_, H1: Gold price was traded higher following prior rebound from the support level at 1459.40. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1464.10.

Resistance level: 1464.10, 1469.15

Support level: 1459.40, 1454.40

25 November 2019                           Morning Session Analysis

Greenback triumphs over trade optimism.

US dollar extended gains on last Friday over the backdrop of trade optimism as well as positive economic data from the region. In an interview with Fox News, US President Donald Trump said that a trade deal with China is “potentially close” and he indicates that he may not sign a bill that was passed last week to support Hong Kong’s autonomy in order to appease Beijing. His comments have helped to ease concerns in the market as ongoing trade war in between US and China has bring significant impact upon global economic momentum. Likewise, the greenback received additional bullish support after Michigan Consumer Sentiment for the month of November came in at 96.8, slightly higher than forecast of 95.7. On the other hand, pound sterling was traded lower last Friday due to bearish economic data. Both Manufacturing PMI and Services PMI came in lower than forecast with 48.3 and 48.6 respectively, dialing down market optimism towards economic progression in the United Kingdom. As of writing, the dollar index rose 0.29% to 98.13 while GBP/USD rebounds by 0.16% to 1.2851.

In the commodities market, crude oil price was traded flat around $57.84 per barrel. Traders continues to monitor stockpiles data from the United States as well as OPEC’s meeting scheduled for next month in order to attain more info with regards to its mid-term trend direction. On the other hand, gold rice ticked down 0.01% to $1,462.29 a troy ounce due to stronger greenback.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher while currently testing near the resistance of 98.20. MACD which illustrate bullish signal suggests the index to extend its gains after closing above the resistance level.

Resistance level: 98.20, 98.55

Support level: 98.10, 97.70

GBPUSD, H4: GBPUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2800, 1.2930

Support level: 1.2820, 1.2750

EURUSD, H4: EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 1.1050, 1.1085

Support level: 1.1010, 1.0965

USDJPY, H4: USDJPY remains traded within a narrowing triangle formation. Due to the lack of signal from MACD and price action, it is suggested to wait for a breakout before entering the market.

Resistance level: 108.75, 109.00

Support level: 108.35, 108.00

AUDUSD, H4: AUDUSD was traded higher following prior rebound from 0.6780. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 0.6820, 0.6875

Support level: 0.6780, 0.6725

NZDUSD, H1: NZDUSD remains traded within a narrowing triangle formation. Due to the lack of MACD and price action, it is suggested to wait for a breakout before entering the market.

Resistance level: 0.6430, 0.6465

Support level: 0.6405, 0.6370

USDCAD, H4: USDCAD remains traded within an ascending channel formation. MACD which shows diminishing downward momentum suggests the pair to be traded higher, towards the direction of 1.3340.

Resistance level: 1.3340, 1.3385

Support level: 1.3280, 1.3220

USDCHF, H4: USDCHF was traded higher following prior closure above 0.9965. MACD which illustrate bullish signal suggests the pair to advance further up, towards the direction of 1.0000.

Resistance level: 1.0000, 1.0025

Support level: 0.9965, 0.9940

CrudeOIL, H4: Crude oil price was traded lower following prior retrace from its higher level. MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term as technical correction.

Resistance level: 58.15, 59.00

Support level: 57.40, 56.95

GOLD_, H4: Gold price was traded lower following prior retrace from its higher levels. MACD which illustrate bearish signal suggests its price to be traded lower, towards the direction of 1457.00.

Resistance level: 1472.00, 1483.60

Support level: 1457.00, 1442.90

22 November 2019                            Afternoon Session Analysis

Dollar sink amid uncertainties over global trade.

Dollar index which gauge its value against a basket of six major currencies fall as US global trade issue continues to weigh on this single currency market’s sentiment. Last week, the window for auto related tariffs on EU had closed as US President Donald Trump was supposed to make a final decision before the deadline 14^th November. After the deadline passed, recent news show that US administration official are now considering whether to start another round of trade investigation against EU, but even much broader trade inquiry for this time. Moreover, trade talk between US and China remains deadlock as China emphasized that they will continue to eye on US next move with regards to backing Hong Kong Bill. Prior, China reacted angrily toward Washington’s proposal over Hong Kong issue as US is interfering the internal affairs between China and Hong Kong, and it became another obstacle to the phase 1 trade deal between these both parties. Adding further anger on Chinese government is US President Trump is not considering to veto the bill, showing no willingness to close a deal with them. As of writing, dollar index inched down 0.05% to 97.95.

In the commodities market, crude oil price retraced 0.26% to $58.15 per barrel after hitting two months high level amid market worries over global trade development continues to haunt the crude oil product future demand outlook. On the other hand, gold price rose 0.03% to $1464.60 a troy ounce amid weakening of greenback.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event     

16.30                     EUR                                        ECB President Lagarde Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower following prior retracement from the resistance level at 97.85. However, MACD which illustrated increasing bullish momentum suggest the index to be traded higher in short-term as technical correction.

Resistance level: 97.85, 97.95

Support level: 97.70, 97.55

GBPUSD, Daily: GBPUSD was traded lower following prior retracement from the resistance level at 1.2965. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2965, 1.3180

Support level: 1.2765, 1.2600

EURUSD, Daily: EURUSD was traded lower following prior retracement from the resistance level 1.1080. MACD which illustrate increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.1080, 1.1165

Support level: 1.1010, 1.0955

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level at 108.65. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 108.65, 108.90

Support level: 108.35, 108.15

AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level at 0.6790. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward the support level at 0.6770.

Resistance level: 0.6790, 0.6815

Support level: 0.6770, 0.6750

NZDUSD, H4: NZDUSD was traded lower following prior breakout below the previous support level at 0.6410. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6390.

Resistance level: 0.6410, 0.6435

Support level: 0.6390, 0.6370

USDCAD, Daily: USDCAD was traded lower following prior retracement from the resistance level at 1.3325. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.3265.

Resistance level: 1.3325, 1.3375

Support level: 1.3265, 1.3210

USDCHF, Daily: USDCHF was traded higher following prior breakout above the previous resistance level 0.9900. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.9945.

Resistance level: 0.9945, 0.9980

Support level: 0.9900, 0.9850

CrudeOIL, Daily: Crude oil price was traded lower following prior retracement from the resistance level at 58.65. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 56.75.

Resistance level: 58.65, 60.50

Support level: 56.75, 55.40

GOLD_ H4: Gold price was traded lower following prior retracement from the resistance level 1472.85. MACD which illustrate increasing bearish momentum suggest the commodity to extend its losses toward support level at 1459.00.

Resistance level: 1472.85, 1485.60

Support level: 1459.00, 1449.40

22 November 2019                           Morning Session Analysis

Dollar rose following potential reverse in trade talk.

The dollar index which measured against a basket of six major currency pairs have gain on Friday’s early Asian session as new development evolved between U.S and China. According to the latest report from South China Morning Post, the article stated that U.S may reverse its decision and willing to delay the 15 December tariffs if an agreement is not reached by then. On China side, Chinese Vice Premier Liu He remain positive and stated that he is confident about reaching Phase One of a deal with the US. Adding further the bullish favor is the  Philadelphia Fed Manufacturing Index which came in higher than expected with the reading of 10.4 against 7.0. Still, ongoing uncertainty remain in grasp of the market where the market and also China are now closely monitoring the US president’s next move following the vote by Congress. Dollar index climbs 0.03% to 97.83 as of writing. Meanwhile, USD/CAD slumps 0.05% to 1.3279 at the time of writing amid hawkish note from BoC Governor Poloz. According to his statement, Poloz have argued that monetary conditions were “about right” given the current situation to hint that the BoC is unlikely to consider a rate cut anytime soon. At the same time, the rising crude oil price also help the Loonie to find demand in the market.

In the commodities market, crude oil price soars 0.15% to $58.35 per barrel at the time of writing as plans of OPEC and its allies to extend output cut when they meet next month continue to support the demand for the black commodity. Their goal is to keep the market propped up ahead of the listing of Saudi state oil company Aramco. On the other hand, gold price fell 0.05% to $1464.35 a troy ounce as of writing amid strengthening dollar and temporary diminishing risk in trade development.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event     

16.30                     EUR                       ECB President Lagarde Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level 97.60. MACD which illustrate bullish momentum signal suggest the dollar to extend its rebound towards the resistance level 98.20.

Resistance level: 98.25, 98.90

Support level: 97.60, 96.85

GBPUSD, H4: GBPUSD remain traded in a sideway channel following recent retracement from the resistance level 1.2970. However, MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 1.2795.

Resistance level: 1.2970, 1.3095

Support level: 1.2795, 1.2690

EURUSD, H4: EURUSD was traded lower following prior retracement from the resistance level 1.1080. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 1.0990.

Resistance level: 1.1080, 1.1170

Support level: 1.0990, 1.0925

USDJPY, H4: USDJPY was traded flat following recent rebound from the support level 108.25. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower in short term towards the support level 108.25.

Resistance level: 108.85, 109.40

Support level: 108.25, 107.55

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support level 0.6770. MACD which illustrate bearish bias signal suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 0.6825, 0.6880

Support level: 0.6770, 0.6715

NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level 0.6425. MACD which illustrate ongoing bearish bias signal suggest the pair to extend its losses towards the support level 0.6340.

Resistance level: 0.6425, 0.6500

Support level: 0.6340, 0.6275

USDCAD, H4: USDCAD was traded lower while currently testing near the support level 1.3560. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 1.3340, 1.3385

Support level: 1.3260, 1.3185

USDCHF, H4: USDCHF was traded higher following prior breakout above the previous resistance level 0.9915. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.9980.

Resistance level: 0.9980, 1.0025

Support level: 0.9915, 0.9845

CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level 57.95. MACD which illustrate ongoing bullish momentum signal suggest the commodity to extend its gains towards the resistance level 59.40.

Resistance level: 59.40, 60.85

Support level: 57.95, 56.30

GOLD_ H4: Gold price was traded lower following prior retracement from the resistance level 1477.90. MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to extend its losses towards the support level 1458.50.

Resistance level: 1477.90, 1497.00

Support level: 1458.50, 1445.70

21 November 2019                            Afternoon Session Analysis

Dollar rose after Fed Meeting Minutes released.

Dollar index which gauge its value against a basket of six major currencies rose up slightly after a gap down following the release of Federal Reserve (Fed) October policy meeting minutes on early today. According the statement, board of Fed mentioned that they see very little need to change the current monetary policy as the last month rate cut from 1.00% to 0.75% is sufficient to support the economy grow in moderate pace and closer to inflation target rate at 2%. If there is no material changes in economy outlook, the policy will likely remain unchanged for an extended period, said by Fed. However, development of trade war between US and China also will be continuously eyed by the committee members from time to time as any changes on that would definitely causes significant consequences toward the US and also global economy. Moreover, the losses of greenback were limited following representative from both countries commented that they are remain optimistic toward the phase 1 trade deal while negotiation is continuing. As of writing, dollar index rose inched down 97.85. On the other hand, the pair of USD/CAD quoted down 0.01% to 1.3305 amid Core CPI data showed a reading of 0.4%, stronger than previous reading at 0.0%. This data indicating that Canada consumer purchasing behavior has strengthened and inflation pressure seemingly moving closer to the target.

In the commodities market, crude oil price fall 0.30% to $56.90 a barrel after rising for more than $25 on yesterday amid US crude oil inventories data showed a little build up while comparing to economist forecast and trade optimism lifted up the future demand outlook. Besides, gold price rose 0.09% to $1472.20 a troy ounce amid weakening of greenback.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event     

Tentative                GBP                         BoE MPC Treasury Committee Hearings

20.30                     EUR                          ECB Publishes Account of Monetary Policy Meeting

21.40                     CAD                          BoC Gov Poloz Speaks 

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower while currently testing near the support level 97.60. MACD which illustrate diminishing bullish momentum suggest the dollar to extend its losses after it breaks below the support level.

Resistance level: 98.25, 98.90

Support level: 97.60, 96.85

GBPUSD, H4: GBPUSD remain traded in a sideway channel. However, MACD which display diminishing bearish momentum suggest the pair to be traded higher in short term towards the resistance level 1.2970.

Resistance level: 1.2970, 1.3095

Support level: 1.2795, 1.2690

EURUSD, H4: EURUSD was traded higher while currently testing near the resistance level 1.1080. MACD which display diminishing bearish momentum signal suggest the pair to extend its gains after it breaks above the resistance level.

Resistance level: 1.1080, 1.1170

Support level: 1.0990, 1.0925

USDJPY, H4: USDJPY was traded lower following prior retracement from the MA lines. MACD which illustrate bearish bias signal suggest the pair to extend its losses in short term towards the support level 108.25.

Resistance level: 108.85, 109.40

Support level: 108.25, 107.55

AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level 0.6810. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 0.6725.

Resistance level: 0.6810, 0.6875

Support level: 0.6725, 0.6670

NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level 0.6425. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its retracement towards the support level 0.6340.

Resistance level: 0.6425, 0.6500

Support level: 0.6340, 0.6275

USDCAD, H4: USDCAD was traded lower following prior breakout above the previous resistance level 1.3260. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction in short term towards the support level 1.3260.

Resistance level: 1.3340, 1.3385

Support level: 1.3260, 1.3185

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level 0.9915. MACD which illustrate bearish bias signal suggest the pair to extend its retracement towards the support level 0.9845.

Resistance level: 0.9915, 0.9980

Support level: 0.9845, 0.9800

CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level 56.30. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its gains towards the resistance level 57.95.

Resistance level: 57.95, 59.40

Support level: 56.30, 54.85

GOLD_ H4: Gold price was traded higher while currently testing near the resistance level 1477.90. However, MACD which illustrate bearish bias signal with the starting formation of death cross suggest the commodity to experience a technical correction in short term towards the support level 1458.50.

Resistance level: 1477.90, 1497.00

Support level: 1458.50, 1445.70