Daily Analysis

29 April 2019                       Afternoon Session Analysis

Dollar consolidates above 97.60 while awaits further sentiment.

Dollar index which measures it value against a basket of six major currencies was down by 0.05% to 97.65 after last week release of mixed data. Although dollar was supported by higher than expected GDP reading which possibly indicates strong growth, however the fall in personal consumption expenditures spiraled worries in the market that the country’s inflation might be falling. For this week, the dollar market is expected to undergo large fluctuations amid FOMC rate statement and its conference, Core PCE index data as well as Friday’s Nonfarm Payroll (NFP) and Average Hourly Earnings. Investors will look at these various data to further gauge the long-term trend for dollar. Besides that, top-level trade talks are also expected this week where US President Donald Trump stated that he is ready to meet Chinese Premier Xi Jinping at the White House and hope to finalize a deal during its meeting. In the events that the war between two economic powerhouses could reach an end, tariffs would be lifted and both the country can strongly benefit in terms of economy as well as politics. In other news, China’s major trading partner Australia will also receive support and the Aussie dollar may rise. The pair of AUD/USD was up by 0.26% to 0.7055 as of writing.

In the commodities market, crude oil price pared part of its losses by 0.14% to $62.91 per barrel. Oil prices continues to be pressured by Trump’s tweet which urged OPEC to lower oil prices and increase production. Besides that, concerns from Russia ending its glut cut deal with OPEC during OPEC’s June meeting further worsen oil sentiment. Otherwise, gold price edged lower by 0.06% to $1,285.00 a troy ounce while market participants wait for further catalyst in the market.

Today’s Holiday Market Close

Time                       Market                  Event

All Day                   JPY                                          Showa Day

Today’s Highlight Events

Time                       Market                  Event

16:10                     GBP                                        BoE Gov Carney Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower while currently testing near the support level 97.55. MACD which illustrate bearish bias signal with the formation of death cross suggest the dollar to extend its losses after it breaks below the support level.

Resistance level: 98.00, 98.50

Support level: 97.55, 97.05

GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level 1.2915. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains towards the resistance level 1.2960.

Resistance level: 1.2960, 1.3020

Support level: 1.2915, 1.2865

EURUSD, H4: EURUSD was traded higher following recent rebound from the support level 1.1115. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 1.1180.

Resistance level: 1.1180, 1.1215

Support level: 1.1115, 1.1080

USDJPY, H4: USDJPY was traded flat following recent retracement from the resistance level 111.80. However, MACD which illustrate diminishing bearish bias signal suggest the pair to be traded higher in short term towards the resistance level 111.80

Resistance level: 111.80, 112.10

Support level: 111.45, 110.90

AUDUSD, H4: AUDUSD was traded higher following prior breakout above the previous resistance level 0.7050. MACD which illustrate persistent bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.7085.

Resistance level: 0.7085, 0.7130

Support level: 0.7050, 0.7000

NZDUSD, H4: NZDUSD was traded higher following prior breakout above previous resistance level 0.6675. MACD which display persistent bullish momentum suggest the pair to extend its gains towards the resistance level 0.6720.

Resistance level: 0.6720, 0.6770

Support level: 0.6675, 0.6640

USDCAD, H4: USDCAD was traded lower following prior breakout below previous support level 1.3465. MACD which illustrate persistent bearish bias signal suggest the pair to extend its losses towards the support level 1.3430.

Resistance level: 1.3465, 1.3520

Support level: 1.3430, 1.3395

USDCHF, H4: USDCHF was traded lower following recent breakout below the previous support level 1.0200. MACD which illustrate persistent bearish signal suggest the pair to extend its losses towards the support level 1.0160.

Resistance level: 1.0200, 1.0230

Support level: 1.0160, 1.0115

CrudeOIL, H4: Crude oil price was traded flat while currently testing near the resistance level 63.05. However, MACD which illustrate diminishing bearish signal suggest the commodity to be traded higher after it breaks above the resistance level.

Resistance level: 63.05, 64.55

Support level: 61.75, 60.40

GOLD_, H4: Gold price was traded lower following prior retracement from the resistance level 1287.00. MACD which illustrate bearish bias signal suggest the commodity to extend its retracement towards the support level 1280.45.

Resistance level: 1287.00, 1296.40

Support level: 1280.45, 1271.80

29 April 2019                       Morning Session Analysis

Inflation slacked; greenback dragged.

US dollar depreciates from its prior high levels on last Friday after better-than-expected US growth data was offset by slowing inflation in the United States. As of writing, the dollar index was quoted down 0.02% to 97.73 against a basket of six major peers. According to US Commerce Department, US Gross Domestic Product for the first quarter came in at 3.2%, exceeding economist forecast for an increase of only 2.0%. The seemingly high reading for first quarter is due to higher composition of growth in private inventory investment and foreign trade. However, a slowdown in personal consumption which makes up two-third of US economic activity may likely to drag on for second quarter. Likewise, overall optimism within the market has dialed down after Federal Reserve preferred inflation measure, the PCE Price Index slowed down to 1.3% for the month of March, significantly lower than previous month’s reading of 1.8%. A slowdown in inflation has raised expectation that the Fed may cut rates within this year in order to provide further support upon the economy. Against other major peers, GBP/USD ticked up 0.01% to 1.2919 while EUR/USD rose 0.02% to 1.1150.

In the commodities market, crude oil price depreciates by 0.02% to $62.76 per barrel. Oil prices tumbled more than 1% last Friday after US President Donald Trump pressed OPEC to cut oil prices and supply. Likewise, lower inflation growth in the US has also bring some effect towards its prices as it indicates possible slowdown in economic activity. Otherwise, gold price tacks up 0.01% to $1,286.16 a troy ounce due to weaker greenback.

Today’s Holiday Market Close

Time                       Market                  Event

All Day                   JPY                                          Showa Day

Today’s Highlight Events

Time                       Market                  Event

16:10                     GBP                                        BoE Gov Carney Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, Daily: Dollar index was traded lower following prior retrace from the higher levels. MACD which shows diminishing upward momentum suggests the index to be traded lower in short-term as technical correction.

Resistance level: 98.60, 100.15

Support level: 97.65, 96.85

GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level near 1.2900. MACD which illustrate bullish signal suggests the pair to extend its gains in short-term as technical correction.

Resistance level: 1.3000, 1.3120

Support level: 1.2900, 1.2805

EURUSD, H4: EURUSD was traded higher following prior rebound from the lower levels. MACD which has formed a bullish signal suggests the pair to be traded higher in short-term after breaking the resistance of 1.1155.

Resistance level: 1.1155, 1.1200

Support level: 1.1100, 1.1030

USDJPY, H4: USDJPY was traded lower following prior breakout from the support of 111.75. However, MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 111.75, 112.20

Support level: 111.45, 111.00

AUDUSD, Daily: AUDUSD was traded higher following prior rebound from the support level at 0.6990. MACD which illustrate diminishing downward momentum suggests the pair to extend its gains in short-term as technical correction.

Resistance level: 0.7070, 0.7145

Support level: 0.6990, 0.6935

NZDUSD, H4: NZDUSD was traded higher while currently testing near 0.6670. MACD which illustrate persistent bullish signal suggests the pair to extend its gains after breaking the resistance near 0.6670.

Resistance level: 0.6670, 0.6695

Support level: 0.6630, 0.6580

USDCAD, H4: USDCAD was traded lower following prior closure below 1.3485. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.3435.

Resistance level: 1.3485, 1.3530

Support level: 1.3435, 1.3400

USDCHF, H1: USDCHF remains traded within a sideways channel while currently testing at the lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term after closing above the 20-MA line (red).

Resistance level: 1.0220, 1.0265

Support level: 1.0190, 1.0170

CrudeOIL, H4: Crude oil price plunged sharply after breaking the bottom level of upward channel. MACD which illustrate diminished downward momentum suggests its prices to be traded higher in short-term as technical correction.

Resistance level: 63.15, 63.70

Support level: 61.60, 59.65

GOLD_, H4: Gold price extended its gains while currently testing near the resistance of 1285.80. MACD which illustrate bullish signal suggests its prices to be traded higher after closing above 1285.80.

Resistance level: 1285.80, 1295.65

Support level: 1275.30, 1267.00

26 April 2019                       Afternoon Session Analysis

Bulls dominate greenback as market awaiting GDP.

Dollar index which measuring against a basket of six major currency pairs remains hovered near two-year high as market sentiment remain boosted by strong U.S durable orders. Although initial jobless claims have shown some weakness in its figure, market remains overall positive as recent data such as retail sales, goods orders and exports also displaying improvement which have eased concerns of economy slowdown in the world’s biggest economy. The markets will now place their focus on the first quarter GDP to determine further momentum for the greenback. Dollar index rose 0.02% to 97.89 as of writing. Meanwhile, NZD/USD have slowly recover from its losses and rose 0.30% to 0.6640 as of writing following upbeat trade balance data. According to Statistics New Zealand, trade balance in New Zealand have improved $922M, stronger than market expectations with the reading of $131M. Besides that, exports in New Zealand have also improved by $5.70B which is higher than forecasted reading of $5.30B. The strong data which showing signs of strength in New Zealand’s economy have thus regain investors’ confidence in the Kiwi.

As for commodities market, crude oil price have dipped 0.29% to $64.90 per barrel at the time of writing as market hopes on OPEC in raising output to compensate for decline in Iran’s export. In recent reports, Saudi Arabia oil minister have stated that any output increases made by Saudi Arabia and OPEC would be need-based and not pre-emptively to fill lost Iranian barrels. Despite this, market remains tight as Germany, Poland and Slovakia suspended imports of Russian oil via a major pipeline, citing poor quality which could limit the downside for the commodity. On the other hand, gold price recovers 0.20% to $1279.67 as of writing as mixed U.S data and consolidating U.S stock market support the demand for gold.

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 lower following prior retracement from its top-levels. MACD which illustrate diminished bullish momentum suggest index to extend its retracement towards the support level 97.60.

Resistance level: 98.25, 99.55

Support level: 97.60, 97.00

GBPUSD, H4: GBPUSD was traded higher following prior rebound from low-levels. MACD which display bullish bias signal and the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 1.2945.

Resistance level: 1.2945, 1.3015

Support level: 1.2845, 1.2770

EURUSD, H4: EURUSD was traded higher while currently retesting the resistance level 1.1145. MACD which display diminishing bearish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.

Resistance level: 1.1145, 1.1180

Support level: 1.1100, 1.1010

USDJPY, H4: USDJPY was traded lower following prior breakout below previous sideway channel at 111.75. MACD which display bearish momentum suggest the pair to extend its losses towards the support level 111.45.

Resistance level: 111.75, 112.20

Support level: 111.45, 110.95

AUDUSD, H4: AUDUSD was traded higher following prior rebound from support level 0.7000. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.7050.

Resistance level: 0.7050, 0.7090

Support level: 0.7000, 0.6930

NZDUSD, H4: NZDUSD was traded higher following prior breakout above previous resistance level 0.6630. MACD which display bullish momentum with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.6670.

Resistance level: 0.6670, 0.6720

Support level: 0.6630, 0.6580

USDCAD, H4: USDCAD was traded lower following prior breakout below previous support level 1.3485. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses towards the support level 1.3435.

Resistance level: 1.3485, 1.3530

Support level: 1.3435, 1.3380

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 while currently testing the support level 64.65. MACD which illustrate bearish momentum suggest the commodity to extend its losses after breaking below the support level.

Resistance level: 66.00, 67.65

Support level: 64.65, 63.45

GOLD_, H4: Gold price was traded higher while currently testing the 60-MA line (red). MACD which illustrate persistent bullish momentum suggest gold to extend its gains towards the resistance level 1285.80 after successfully closing above the MA line.

Resistance level: 1285.80, 1295.65

Support level: 1277.30, 1268.50

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

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

25 April 2019                       Afternoon Session Analysis

Greenback slides but remained supported by poor Eurozone.

Dollar index measuring against a basket of six major currency pairs slides by 0.10% to 97.72 ahead of European trading session after recording more than half percent of gains on Wednesday amid poor eurozone data. Yesterday’s release of German Ifo Business Climate Index data missed its expectations of 99.9, falling to 99.2 which spiraled worries among investors towards the eurozone as they shift their portfolio from euro market into safe-haven dollar. As trade tensions further pressuring the German economy, it reaffirms the European Central Bank (ECB) dovish stance towards Euro growth slowdown. However, dollar gains were limited after Bank of Canada (BoC) released their somewhat less dovish note during their monetary policy statement yesterday. In its statement, BoC kept their interest rate at 1.75%, however indicating that the bank is more likely be open to future rate hikes than a cut provided that their growth was inline with their forecast with the GDP well maintained at 2.2%. As for now, BoC will continue to evaluate suitable policy accommodation based on future key economy data. Pair of USD/CAD edged higher by 0.04% to 1.3494 as of writing.

As for commodities market, crude oil price pared part of its losses by 0.12% to $65.83 per barrel after being pressured by unexpected rise in crude oil inventories reported by US Energy Information Administrations (EIA). However, sentiment remains on the upside in oil markets as sanctions on Venezuela and Iran provided further support to oil prices. Besides that, ongoing production cut lead by OPEC also continues to push oil prices higher at least till the month of June when OPEC and its allies holds another meeting to discuss whether or not to further its glut cut plans. Otherwise, gold prices fell by 0.03% to $1275.00 per troy ounce despite dollar’s retracement.

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

16:00                     EUR                                        ECB Economic Bulletin

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout above previous resistance level 97.60. However, MACD which illustrate diminishing bullish momentum suggest the dollar to experience a short term technical correction towards the support level 97.60.

Resistance level: 98.35, 99.30
Support level: 97.60, 97.00

GBPUSD, H4: GBPUSD was traded lower while currently testing near the support level 1.2890. However, MACD which illustrate diminishing bearish momentum suggest the pair to experience a technical correction in short term towards the resistance level 1.2960.

Resistance level: 1.2960, 1.3020
Support level: 1.2890, 1.2845

EURUSD, H4: EURUSD was traded lower following prior breakout below the previous support level 1.1180. However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher as technical correction in short term towards the resistance level 1.1180.

Resistance level: 1.1180, 1.1215
Support level: 1.1115, 1.1025

USDJPY, H4: USDJPY remain traded in a sideway channel following recent retracement from the resistance level 112.10. Due to lack of momentum and signal, it is suggested to wait until further clear signal appear such as breakout above the resistance level 112.10 or below the support level 111.80 before entering the market.

Resistance level: 112.10, 112.70
Support level: 111.80, 111.30

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support level 0.7005. However, MACD which illustrate diminishing bearish momentum suggest the pair to experience a short term technical correction towards the support level 0.7005.

Resistance level: 0.7050, 0.7085

Support level: 0.7005, 0.6950

NZDUSD, H4: NZDUSD was traded lower while currently testing near the support level 0.6585. However, MACD which illustrate bullish bias signal suggest the pair to be traded higher as a short term technical correction towards the resistance level 0.6640.

Resistance level: 0.6640, 0.6675
Support level: 0.6590, 0.6550

USDCAD, H4: USDCAD was traded higher following prior breakout above previous resistance level 1.3465. However, MACD which illustrate diminishing bullish momentum suggest the pair to experience a technical correction in short term towards the support level 1.3465.

Resistance level: 1.3520, 1.3570
Support level: 1.3465, 1.3430

USDCHF, H4: USDCHF was traded higher while currently testing the resistance level 1.0200. However, MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to be traded lower in short term as a technical correction towards the support level 1.0160.

Resistance level: 1.0200, 1.0230
Support level: 1.0160, 1.0115

CrudeOIL, H4: Crude oil remain traded in a sideway channel while currently testing near the support level 65.55. MACD which illustrate bearish bias signal suggest the commodity to be traded lower after it breaks below the support level.

Resistance level: 66.55, 67.85
Support level: 65.55, 64.55

GOLD_, H4: Gold price remain traded in a sideway channel following prior rebound from the support level 1271.80. MACD which illustrate bullish bias signal suggest the commodity to be traded higher towards the resistance level 1280.45.

Resistance level: 1280.45, 1287.00
Support level: 1271.80, 1263.45

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 18^th 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

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

24 April 2019                       Afternoon Session Analysis

Dollar remains high on housing data, Aussie plummets.

Dollar index measuring against a basket of six major currency pairs remain dominated by bullish investors as current market remains positive towards strong housing data. Data showing sales of new U.S. homes jumped to a near 1-1/2-year high in March on Tuesday. Besides that, greenback also further supported by recent positive readings in retail sales and exports. As upcoming data GDP will be released this week, the first quarter data could strengthen then case of U.S in on path of a firmer footing in economy compared to other leading economies. Market will focused on upcoming U.S GDP economic data release to attain further confirmation and determine further direction for the greenback. Dollar index rose 0.06% to 97.29 as of writing. Meanwhile, AUDUSD suffered huge losses and plummets 1.00% to 0.7030 at the time of writing following the disappointing CPI release. According to the Australian Bureau of Statistics, consumer price index have slipped to 0.0% which is weaker than expected reading of 0.2%. At the same time with the weaker than expected inflation figures, the spread between the Aussie and US 10-year government bond yields have dropped to -0.76 basis points – the lowest level since October 1981.

As for commodities market, crude oil price have fell from its highs and slumped 0.39% to $65.83 per barrel at the time of writing which showing signs of investors taking profit following global markets remain adequately supplied. Despite tighter sanctions on Iran and Venezuela, International Energy Agency (IEA) have stated on Tuesday that the markets are “adequately supplied” and that “global spare production capacity remains at comfortable levels.” Besides that, reports on news supply comes from U.S where crude oil production has already rose 2 million barrels per day. On the other hand, gold price extend its losses by 0.22% to $1269.30 as of writing following strong dollar and a recent huge sell-off by Venezuela.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

22:00                     CAD                                        BoC Rate Statement

22:00                     CAD                                        BoC Monetary Policy Report

23:15                     CAD                                        BoC Press Conference

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout above previous sideway channel at 97.00. MACD which illustrate bullish momentum suggest index to extend its gains towards the resistance level 97.60.

Resistance level: 97.60, 98.05
Support level: 97.00, 96.40

GBPUSD, H4: GBPUSD was traded lower while currently testing the support level 1.2935. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses after successfully breaking below the support level.

Resistance level: 1.2985, 1.3045
Support level: 1.2935, 1.2850

EURUSD, H4: EURUSD was traded lower while currently testing the support level 1.1210. MACD which display bearish momentum with the formation of death cross suggest the pair to extend its losses after successfully breaking below the support level.

Resistance level: 1.1245, 1.1280
Support level: 1.1210, 1.1180

USDJPY, H4: USDJPY was traded lower following prior retracement from the resistance level 112.00. However, due to lack of momentum from the MACD, a breakout above or below the resistance and support level is required for further confirmation before entering the market.

Resistance level: 112.00, 112.40
Support level: 111.45, 110.95

AUDUSD, H4: AUDUSD was traded lower following prior breakout below the previous support level 0.7050. MACD which illustrate persistent bearish momentum suggest the pair to extend its losses towards the support level 0.7020.

Resistance level: 0.7050, 0.7070
Support level: 0.7020, 0.6995

NZDUSD, H4: NZDUSD was traded lower after breaking below previous support level of 0.6630. MACD which illustrate persistent bearish momentum with the formation of death cross suggest the pair to extend its losses towards the support level 0.6590.

Resistance level: 0.6630, 0.6670
Support level: 0.6590, 0.6540

USDCAD, H4: USDCAD was traded higher following prior breakout above previous resistance level at 1.3440. MACD which display ongoing bullish momentum suggest the pair to extend its gains towards the resistance level 1.3485.

Resistance level: 1.3485, 1.3535
Support level: 1.3440, 1.3400

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level 1.0225. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 1.0190.

Resistance level: 1.0225, 1.0255
Support level: 1.0190, 1.0160

CrudeOIL, H4: Crude oil was traded lower after closing below previous support level 66.00. MACD which illustrate bearish bias signal suggest the commodity to extend its losses towards the support level 64.65.

Resistance level: 66.00, 67.35
Support level: 64.65, 63.70

GOLD_, H4: Gold price was traded lower following prior breakout below previous support level at 1272.60. MACD which display bearish momentum and the starting formation of death cross suggest gold to extend its losses towards the support level 1264.00.

Resistance level: 1272.60, 1283.80
Support level: 1264.00, 1253.20

24 April 2019                       Morning Session Analysis

Greenback rides as New Home Sales surged.

US dollar propelled further on yesterday following optimistic economic data which suggests a resilient housing market ahead. The dollar index was quoted up 0.31% to 97.19 during Asian trading session. According to US Commerce Department, New Home Sales for the month of March came in at 692,000 units, its highest level since November 2017. The data is well above economist forecast for a decline to 647,000 units. An increase in new home sales came amid exceedingly positive performance in the South and Midwest of US following deduction in mortgage interest that may have hastened up population migration from high-cost and high-tax states. Likewise, greenback’s bullish momentum was also helped by a slump in both euro and pound sterling. On the other hand, pair of GBP/USD extended its losses by 0.01% to 1.2936. Sterling received tremendous selling pressure on yesterday following little signs of a breakthrough in Brexit talks between British PM Theresa May and opposition leader Jeremy Corbyn.

As for commodities, crude oil price depreciates by 0.14% to $66.00 per barrel. Oil prices continues to hover around 6-months high while investors’ digest the possibility of an increase output from OPEC and US oil sanctions against Iran. On the other hand, gold price tumbled down 0.06% to $1,271.67 a troy ounce following resilient greenback.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

22:00                     CAD                                        BoC Rate Statement

22:00                     CAD                                        BoC Monetary Policy Report

23:15                     CAD                                        BoC Press Conference

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H1: Dollar index was traded lower following prior retracement near 97.30. MACD which illustrate diminishing upward momentum suggests the index to experience technical correction for short-term.

Resistance level: 97.30, 97.65

Support level: 97.10, 97.00

GBPUSD, Daily: GBPUSD extended its losses following prior close below 1.3000. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 1.2900.

Resistance level: 1.3000, 1.3120

Support level: 1.2900, 1.2805

EURUSD, H4: EURUSD was traded lower following prior retracement from the 20-MA line (red).  MACD which has formed a death cross signal suggests the pair to extend its losses, towards the direction of 1.1200.

Resistance level: 1.1245, 1.1280

Support level: 1.1200, 1.1180

USDJPY, H4: USDJPY remains traded within a sideways channel in between 111.75 and 112.20. MACD which has formed a bearish signal suggests the pair to be traded lower in short-term, towards 111.75.

Resistance level: 112.20, 112.80

Support level: 111.75, 111.45

AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support at 0.7090. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term before extending its bearish bias.

Resistance level: 0.7110, 0.7130

Support level: 0.7090, 0.7070

NZDUSD, Daily: NZDUSD was traded lower following prior breakout from the resistance at 0.6670. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 0.6630.

Resistance level: 0.6670, 0.6695

Support level: 0.6630, 0.6580

USDCAD, H4: USDCAD was traded higher while currently testing near the resistance at 1.3435. MACD which illustrate bullish signal suggests the pair to extend its gains after breaking the resistance at 1.3435.

Resistance level: 1.3435, 1.3485

Support level: 1.3400, 1.3370

USDCHF, H4: USDCHF was traded lower following prior retracement from its higher levels. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.

Resistance level: 1.0265, 1.0310

Support level: 1.0190, 1.0100

CrudeOIL, H1: Crude oil price remains traded within an ascending channel. However, MACD which has formed bearish signal suggests its prices to be traded lower in short-term, towards the direction of 64.65.

Resistance level: 66.00, 67.65

Support level: 64.65, 63.70

GOLD_, H4: Gold price was traded lower following prior retracement from the 20-MA line (red). MACD which begins to form a death cross signal 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

23 April 2019                       Afternoon Session Analysis

Greenback pared losses, Yen gains.

Dollar index measuring against a basket of six major currency pairs pared its losses and edged higher by 0.03% to 96.95 ahead of early European trading session following Bank of Japan’s (BoJ) comments on their monetary policy. Earlier today, BoJ’s executive director Eiji Maeda reiterates that the bank will further ease their monetary policy through various or a combination of steps and also focusing on the impacts and side effects if their target inflation goal of 2% is threatened. It is widely expected that the bank will keep their monetary policy steady during it’s’ policy meeting this Thursday despite their inflation missing its targeted level. BoJ had kept their interest rate level at a low of -0.10% since early 2016 to tackle the country’s deflation however was still unable to push their inflation level higher since. Investors will now focus on the bank’s continuous efforts to raise inflation level and place their confident in the Japanese Yen if the bank’s policy is deemed fitting by the market. As of writing, pair of USD/JPY fell by 0.06% to 111.86.

As for commodities market, crude oil price further its gains by 0.29% to $65.84 per barrel. Oil prices continued to be supported by ongoing OPEC production cut as well as the end of sanction waivers for importers of Iranian oil. Likewise, gold price depreciates slightly by 0.02% to $1,274.44 a troy ounce following stronger dollar.

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 remain traded in a sideway channel while currently testing near the resistance level 97.00. However, MACD which illustrate bearish bias signal with the formation of death cross suggest the dollar to be traded lower as a short term technical correction towards the support level 96.45.

Resistance level: 97.00, 97.60
Support level: 96.45, 96.10

GBPUSD, H4: GBPUSD was traded higher following recent rebound from its low levels. However, Due to lack of momentum and clear signal from MACD, it is suggest the wait until further signal appear such as breakout above the closest resistance level or below the support level before entering the market.

Resistance level: 1.3020, 1.3115
Support level: 1.2960, 1.2845

EURUSD, H4: EURUSD was traded lower while currently testing the support level 1.1245. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 1.1280, 1.1325
Support level: 1.1245, 1.1215

USDJPY, H4: USDJPY remain traded in a sideway channel while currently testing the support level 111.80. MACD which illustrate bearish momentum signal suggest the pair to be traded lower after it breaks below the support level.

Resistance level: 112.10, 112.70
Support level: 111.80, 111.30

AUDUSD, H4: AUDUSD was traded lower following prior breakout below the support level 0.7130. MACD which illustrate bearish bias signal suggest the pair to extend its losses towards the support level 0.7070.

Resistance level: 0.7130, 0.7165
Support level: 0.7070, 0.7045

NZDUSD, H4: NZDUSD was traded lower while currently testing the support level 0.6675. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 0.6720, 0.6770
Support level: 0.6670, 0.6640

USDCAD, H4: USDCAD remain traded in a sideway channel following recent rebound from its low levels. MACD which illustrate bullish bias signal suggest the pair to be traded higher towards the resistance level 1.3380.

Resistance level: 1.3380, 1.3460
Support level: 1.3295, 1.3220

USDCHF, H4: USDCHF was traded higher while currently testing the resistance level 1.0160. However, MACD which illustrate bearish bias signal suggest the pair to experience a short term technical correction towards the support level 1.0115.

Resistance level: 1.0160, 1.0175
Support level: 1.0115, 1.0080

CrudeOIL, H4: Crude oil was traded higher while currently testing the resistance level 65.85. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to experience a technical correction in short term towards the support level 64.55.

Resistance level: 65.85, 67.85
Support level: 64.55, 63.15

GOLD_, H4: Gold price was traded in a sideway channel following recent retracement from the resistance level 1280.45. MACD which illustrate bearish bias signal suggest the commodity to extend its retracement towards the support level 1272.05.

Resistance level: 1280.45, 1287.00
Support level: 1272.05, 1264.60

23 April 2019                       Morning Session Analysis

Greenback skids as housing data disappoints.

US dollar was traded lower on yesterday following the release of bearish economic data from the region. As of writing, the dollar index was quoted down 0.20% to 96.90 during Asian trading session. On yesterday, financial markets in Australia, Hong Kong and other major countries were closed in conjunction with Easter holiday. However, greenback found some renewed bearish pressure after Existing Home Sales came in lower than expected with 5.21 million versus forecast of 5.30 million for the month of March. Major economist commented that the softer housing data are not as weak as investor’s are concerning as its lower reading may be due to the approaching selling season in spring. On the other hand, pair of USD/CAD extended losses by 0.02% to 1.3341. Canadian dollar received higher bidding on yesterday after crude oil prices surged to 24-weeks high following bullish signals in the market. Oil price movements will bring higher impact upon the Canadian dollar as it is one of Canada’s major exports.

As for commodities market, crude oil price extended gains by 0.21% to $65.72 per barrel. Oil prices jumped more than 3% on yesterday after Trump administration announced the end of sanction waivers for importers of Iranian oil. Otherwise, gold price depreciates slightly by 0.02% to $1,274.70 a troy ounce due to higher appeal for riskier assets in the market.

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, H1: Dollar index was traded higher following prior rebound from the lower levels. MACD which illustrate diminishing downward momentum suggests the index to be traded higher, towards the direction of 97.00.

Resistance level: 97.00, 97.10

Support level: 96.75, 96.50

GBPUSD, Daily: GBPUSD was traded lower following prior closure below 1.3000. MACD which illustrate bearish signal suggests the pair to extend it losses in the mid-term, towards the direction of 1.2900.

Resistance level: 1.3000, 1.3120

Support level: 1.2900, 1.2805

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

Resistance level: 1.1285, 1.1315

Support level: 1.1245, 1.1215

USDJPY, H4: USDJPY remains traded within the sideways channel of 111.75 and 112.20. 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: 112.20, 112.80

Support level: 111.75, 111.45

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support of 0.7130. MACD which continues to illustrate bearish signal suggests the pair to extend its losses after closing below 0.7130.

Resistance level: 0.7150, 0.7165

Support level: 0.7130, 0.7110

NZDUSD, H1: NZDUSD was traded lower following prior retracement from the 60-MA line (green). MACD which illustrate diminishing bullish momentum suggests the pair to extend its losses after closing below 0.6670.

Resistance level: 0.6695, 0.6720

Support level: 0.6670, 0.6630

USDCAD, H1: USDCAD was traded higher following prior rebound from the support level of 1.3340. MACD which begins to form a bullish signal suggests the pair to be traded higher in short-term towards the direction of 1.3370.

Resistance level: 1.3370, 1.3400

Support level: 1.3340, 1.3300

USDCHF, Daily: USDCHF was traded higher following prior close above 1.0100. MACD which continues to illustrate bullish signal suggests the pair to advance further up, towards the direction of 1.0190 in the mid-term.

Resistance level: 1.0190, 1.0265

Support level: 1.0100, 0.9975

CrudeOIL, H4: Crude oil price was traded flat while currently testing near the resistance at 66.00. MACD which illustrate diminished upward momentum suggests its prices to experience technical correction for short-term.

Resistance level: 66.00, 67.65

Support level: 64.65, 63.70

GOLD_, H4: Gold price was traded lower following prior closure below 1275.30. MACD which illustrate diminished upward momentum suggests its prices to extend its losses, towards the direction of 1267.00.

Resistance level: 1275.30, 1284.15

Support level: 1267.00, 1253.25

22 April 2019                       Afternoon Session Analysis

Dollar rose on post-holiday following positive data.

Dollar index was traded higher against its basket of six major currency pairs as market remains optimistic on relative strength of U.S economy. Despite thin trading due to Easter holiday, dollar found support in recent weeks following U.S treasury yields growth and better than expected economic data such as retail sales in March which hinted improving conditions on world’s top economy. As market remains thin following ongoing Easter Monday holiday today, market will continue to focus on today data such as Existing Home Sales and further developments that could trigger a huge momentum in the market. Dollar index rose 0.05% to 97.01 as of writing. Meanwhile,

USDCAD fell 0.20% to 1.3363 at the time of writing as sentiment remains upbeat to Loonie due to increasing crude price and positive economic data. WTI crude oil, which is Canada main export have rose to fresh-five month high. Besides that, investors also remain positive on data last week as Core Retail Sales and Core CPI also came in better than expected which provide further optimism on increasing economic conditions in Canada.

As for commodities, crude oil price skyrocketed 2.44% to $65.55 per barrel at the time of writing following U.S end Iran sanction waivers. According to recent reports, Washington have set to announce that all imports of Iranian oil must end or will be subjected to sanctions which could further decrease the oil supply, thus providing further positive sentiment for the commodity. On the other hand, gold price extend gains by 0.28% to $1279.20 a troy ounce as of writing following demand for safe-haven remains strong following global risk such as US-China trade dispute.

Today’s Holiday Market Close

Time                       Market                  Event

All Day                   AUD                                       Easter Monday

All Day                   GBP                                        Easter Monday

All Day                   CHF                                         Easter Monday

All Day                   NZD                                        Easter Monday

All Day                   EUR                                        Easter Monday (Germany)

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower while currently testing the support level 97.00. MACD which illustrate diminishing bullish momentum suggest index to extend its losses after successfully breaking below the support level.

Resistance level: 97.60, 98.05
Support level: 97.00, 96.40

GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level 1.3010. However, MACD which illustrate bullish bias signal suggest the pair to undergo short-term technical correction and traded higher back to the resistance level.

Resistance level: 1.3010, 1.3100
Support level: 1.2935, 1.2850

EURUSD, H4: EURUSD was traded lower while currently testing near the support level 1.1230. MACD which illustrate persistent bearish momentum suggest the pair to extend its losses after successfully breaking below the support level.

Resistance level: 1.1280, 1.1320
Support level: 1.1230, 1.1180

USDJPY, H4: USDJPY was traded flat near the resistance level 112.00. Due to lack of momentum from the MACD, a breakout above or retracement from the resistance level is required for further confirmation before entering the market.

Resistance level: 112.00, 112.40
Support level: 111.45, 110.95

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support level 0.7130. MACD which illustrate persistent bearish momentum suggest the pair to extend its losses after successfully breaking below the support level.

Resistance level: 0.7155, 0.7180
Support level: 0.7130, 0.7095

NZDUSD, H4: NZDUSD was traded lower while currently testing the support level 0.6670. MACD which illustrate bearish bias signal suggest the pair to extend its losses after successfully breaking below the support level.

Resistance level: 0.6705, 0.6745
Support level: 0.6670, 0.6630

USDCAD, H4: USDCAD was traded lower while currently testing near the support level 1.3355. MACD which display starting bearish momentum with the formation of death cross suggest the pair to extend its losses after successfully breaking below the support level.

Resistance level: 1.3400, 1.3440
Support level: 1.3355, 1.3295

USDCHF, H4: USDCHF was traded higher following prior rebound from lower levels. However, MACD which display bearish momentum with the formation of death cross suggest the pair to undergo short-term technical correction and retrace towards the support level 1.0115.

Resistance level: 1.0160, 1.0225
Support level: 1.0115, 1.0070

CrudeOIL, H4: Crude oil was traded higher following prior breakout above previous resistance level 64.65. MACD which illustrate bullish momentum suggest the commodity to extend its gains towards the resistance level 66.00.

Resistance level: 66.00, 67.35
Support level: 64.65, 63.70

GOLD_, H4: Gold price was traded higher following prior rebound from the support level 1274.10. MACD which illustrate bullish momentum and ‘positive divergence’ signal suggest gold to extend its gains towards the resistance level 1286.50.

Resistance level: 1286.50, 1295.65
Support level: 1274.10, 1268.00

22 April 2019                       Morning Session Analysis

Greenback retraces while losses remains limited.

US dollar inched lower during early Asian trading session as a number of markets around the globe reopens following Good Friday holiday last week. The dollar index was quoted down 0.10% to 97.07 this morning. Overall, the losses on the greenback remains limited as the currency remained underpinned by optimistic outlook towards the US economy. Last Thursday, latest data shows that US retail sales grew at its strongest pace in 1 and a half years for the month of March. The data suggests that consumer spending in the market remains resilient which would continue to bring some support upon US inflation progression. For the week ahead, market participants will be looking forward to central bank meetings in Japan and Canada to gain fresh insights from policymakers with regards to global economic outlook. Likewise, traders will also continue to scrutinize trade negotiation in between US and China which had made significant progress for the past few weeks. Against other major peers, pair of GBP/USD was up 0.05% to $1.2995 while EUR/USD was down 0.03% to 1.1242.

In the commodities section, crude oil price rose 0.50% to $64.28 per barrel this morning. Oil prices remained supported by bullish sentiment following a drop in crude shipments from Saudi Arabia and a draw in US oil inventories last week. Otherwise, gold price inched up 0.07% to $1,276.51 a troy ounce due to a weaker greenback.

Today’s Holiday Market Close

Time                       Market                  Event

All Day                   AUD                                       Easter Monday

All Day                   GBP                                        Easter Monday

All Day                   CHF                                         Easter Monday

All Day                   NZD                                        Easter Monday

All Day                   EUR                                        Easter Monday (Germany)

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was opened lower while currently testing at the support of 97.00. MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term as technical correction.

Resistance level: 97.30, 97.65

Support level: 97.00, 96.75

GBPUSD, Daily: GBPUSD was traded lower following prior closure below the support at 1.3000. MACD which illustrate bearish signal suggests the pair to extend its losses in mid-term, towards the direction of 1.2900.

Resistance level: 1.3000, 1.3120

Support level: 1.2900, 1.2805

EURUSD, H4: EURUSD was traded higher while currently testing near the resistance of 1.1245. MACD which illustrate diminished downward momentum suggests the pair to extend its gains after closing above 1.1245.

Resistance level: 1.1245, 1.1285

Support level: 1.1215, 1.1180

USDJPY, H4: USDJPY remains traded within a sideways channel in between 111.75 and 112.20. 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: 112.20, 112.80

Support level: 111.75, 111.45

AUDUSD, H1: AUDUSD was traded lower following prior close below 0.7150. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses, towards the direction of 0.7130.

Resistance level: 0.7150, 0.7165

Support level: 0.7130, 0.7110

NZDUSD, H1: NZDUSD was traded flat in between 0.6695 and 0.6670. However, MACD which illustrate diminished upward momentum suggests the pair to extend its losses in short-term, towards the direction of 0.6670.

Resistance level: 0.6695, 0.6720

Support level: 0.6670, 0.6630

USDCAD, H4: USDCAD was traded lower following prior retracement from the top level of sideways channel. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.

Resistance level: 1.3400, 1.3435

Support level: 1.3370, 1.3340

USDCHF, Daily: USDCHF was traded higher following prior closure above 1.0100. MACD which illustrate bullish bias suggests the pair to extend its gains in mid-term, towards the direction of 1.0190.

Resistance level: 1.0190, 1.0265

Support level: 1.0100, 1.0055

CrudeOIL, H4: Crude oil price remains traded within a sideways channel while currently testing at the top level. MACD which illustrate bullish signal suggests its prices to advance further up after closing above 64.65.

Resistance level: 64.65, 66.00

Support level: 63.70, 63.15

GOLD_, H4: Gold price was traded higher following prior rebound from the support of 1275.30. MACD which illustrate bullish signal suggests its prices to advance further up in short-term as technical correction.

Resistance level: 1284.15, 1295.65

Support level: 1275.30, 1267.00

19 April 2019                       Afternoon Session Analysis

Quiet market due to Good Friday.

Japanese yen received some bidding during Asian trading session while majority of the markets in the world remained closed in conjunction with Good Friday holiday. As of writing, pair of USD/JPY slipped 0.03% to 111.93 during Asian session. The safe-haven currency received some bullish support after Japan’s Statistic Bureau reported that its National Core Consumer Price Index rose by 0.8%, slightly higher than forecasted reading of 0.7%. A higher than expected inflation data had shed some negative sentiment upon Japan after its central bank postulate that they are less likely to achieve their 2% inflation target for next two years. Nonetheless, liquidity in the financial market for today is expected to remain thin due to Good Friday holiday. Otherwise, pair of EUR/USD extended its overnight losses by 0.02% to 1.1235. Euro remained traded in a bearish fashion following downbeat economic data from the region which spark higher concern over possible recession ahead for the EU economic bloc.

* Dollar index, crude oil and gold will be closed for trading in conjunction with Good Friday holiday.

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

GBPUSD, H4: GBPUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the pair to be extend its gains toward the resistance level at 1.3005.

Resistance level: 1.3005, 1.3030

Support level: 1.2970, 1.2925

EURUSD, H4: EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 1.1255.

Resistance level: 1.1255, 1.1280

Support level: 1.1215, 1.1180

USDJPY, H4: USDJPY was traded lower following prior retracement from the resistance level at 112.00. MACD which display bearish momentum suggest the pair to extend its losses toward the support level at 111.40.

Resistance level: 112.00, 112.35

Support level: 111.40, 110.85

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7145. MACD which display diminishing bearish momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 0.7145.

Resistance level: 0.7145, 0.7175

Support level: 0.7125, 0.7090

NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level at 0.6675.  MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 0.6705.

Resistance level: 0.6705, 0.6740

Support level: 0.6675, 0.6630

USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level at 1.3390. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.3345.

Resistance level: 1.3390, 1.3440

Support level: 1.3345, 1.3290

USDCHF, H4: USDCHF was traded lower following prior retracement from resistance level at 1.0160. MACD which display diminishing bullish momentum suggest the pair to extend its retracement toward the support level at 1.0120.

Resistance level: 1.0160, 1.0185

Support level: 1.0120, 1.0090

19 April 2019                       Morning Session Analysis

Dollar advance following upbeat economic figures.

Dollar index have rallied against its basket of six major currencies pairs after a series of upbeat data release on Thursday. According to the Commerce Department, retail sales in U.S have rose to 1.6% which is stronger than expected reading of 0.9%. Besides that, U.S Department of Labor also reported that initial jobless claims have fell by 13,000 to 192K, which is also better than market expectation with the forecasted reading on 205K. Despite manufacturing index have display a slower reading, mostly upbeat economic data have proved the increasing strength of the U.S underlying economic which have regained confidence of investors. At the same time, Canada retail sales also came in unexpectedly strong. According to Statistic Canada who release the official data, retail sales in Canada for February also improved to 0.8%, higher than economist forecast with the expected reading of 0.4%. The data also pointing to increasing economic conditions in Canada. However, as U.S conditions also taking advantage from its upbeat economic releases, the pair didn’t have any issue staying in the positive territory. Dollar index rose 0.07% to 97.07 while USD/CAD fell 0.06% to 1.3375 at the time of writing.

As for commodities, crude oil price rose 0.03% to $63.96 per barrel at the time of writing as U.S oil drillers have reduce its oil rig for the first week . According to reports from Bakers Hughes, oil drillers have reduce the oil rigs by 8 bringing the total count of rigs down to 825. The data added further confidence that the production growth forecast to remain in shrinking. In addition, OPEC production cuts and sanction against Venezuela and Iran continues to provide support for the price of the commodity. On the other hand, gold price recovers 0.06% to $1275.43 a troy ounce as of writing following as scattered weak spots in the global economy have assist the yellow metal to attract some bid from market despite strong dollar.

Today’s Holiday Market Close

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Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout above previous resistance level 97.00. MACD which illustrate bullish momentum suggest index to extend its gains towards the resistance level 97.60.

Resistance level: 97.60, 98.05

Support level: 97.00, 96.40

GBPUSD, H4: GBPUSD was traded lower following prior breakout from the bottom-level of the sideway channel at 1.3010. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the support level 1.2935.

Resistance level: 1.3010, 1.3100

Support level: 1.2935, 1.2850

EURUSD, H4: EURUSD was traded lower while currently testing near the support level 1.1230. However, MACD which illustrate diminishing bearish momentum suggest the pair to undergo short-term technical correction and rebound towards the resistance level 1.1280.

Resistance level: 1.1280, 1.1320

Support level: 1.1230, 1.1180

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level 112.00. MACD which illustrate bullish bias signal suggest the pair to extend its gains after successfully breaking above the resistance level.

Resistance level: 112.00, 112.40

Support level: 111.45, 110.95

AUDUSD, H4: AUDUSD was traded lower following prior breakout below previous support level 0.7155 and the upward trend line. MACD which display bearish momentum suggest the pair to extend its losses towards the support level 0.7130.

Resistance level: 0.7155, 0.7180

Support level: 0.7130, 0.7095

NZDUSD, H4: NZDUSD was traded lower following prior breakout below previous support level 0.6705. However, MACD which display diminishing bearish momentum suggest the pair to undergo short-term technical correction towards the resistance level 0.6705.

Resistance level: 0.6705, 0.6745

Support level: 0.6640, 0.6600

USDCAD, H4: USDCAD was traded lower following prior retracement from the resistance level 1.3400. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement towards the support level 1.3355.

Resistance level: 1.3400, 1.3440

Support level: 1.3355, 1.3295

USDCHF, H4: USDCHF was traded lower after retracing from the resistance level 1.0160. MACD which display diminishing bullish momentum suggest the pair to extend its retracement towards the support level 1.0115.

Resistance level: 1.0160, 1.0225

Support level: 1.0115, 1.0070

CrudeOIL, H4: Crude oil price remain traded in a sideway channel following prior rebound from the support level 63.70. MACD which illustrate bullish bias signal suggest oil price to extend its rebound towards the top-level of the channel at 64.65.

Resistance level: 64.65, 66.00

Support level: 63.70, 62.80

GOLD_, H4: Gold price was traded higher following prior rebound near the support level 1274.10. MACD which illustrate bullish momentum and the formation of golden cross and ‘positive divergence’ suggest gold to extend its gains towards the resistance level 1283.80.

Resistance level: 1283.80, 1295.65

Support level: 1274.10, 1268.00

18 April 2019                       Afternoon Session Analysis

Resilient job market jolts AUD.

Aussie dollar spikes up during Asian trading session following the release of regional employment data which shows a large surge in full-time job positions. As of writing, the pair of AUD/USD rose 0.14% to 0.7188. According to Australia’s Bureau of Statistics, the economy has 25,700 jobs for the month of March, seemingly higher than forecast for up to 12,000. Despite the large job gains, Australia’s unemployment rate ticked higher as expected from 4.9% to 5.0%. However, the notable optimism in the market lies on their full-time jobs data as it surges by 48,300 for the month of March after slumping 7,300 for the month prior. These data point towards a sustainable and resilient labor market which may lend some support towards their economy in the mid to long-term. On the other hand, pair of EUR/USD ticked down 0.02% to 1.1297. Euro remains on its bearish momentum since yesterday following the release of disappointing economic data from the region. Although CPI for the month of March came in as expected with 1.4%, its core CPI missed forecast with only 1.0% versus 1.3%. The data has further fueled market expectation that EU zone economy momentum started to diminish, in tandem with European Central Bank dovish projection.

As for commodities, crude oil price slumped 0.03% to $63.70 per barrel. Oil prices remained under pressure due to recent reports that Russia may abandon OPEC’s production cut after June in order to regain their market share from the United States. Similarly, gold price droops 0.12% to $1,272.45 a troy ounce after Venezuela sells $400 million of gold amid US sanctions.

Today’s Holiday Market Close

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Today’s Highlight Events

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Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the bottom level of sideway channel. MACD which illustrate bullish bias momentum suggest index to extend its gains toward the resistance level at 97.05.

Resistance level: 97.05, 97.60

Support level: 96.35, 96.15

GBPUSD, H1: GBPUSD was traded higher following prior rebound from the support level at 1.3030. MACD which illustrate bullish momentum suggest the pair to be extend its gains toward the resistance level at 1.3065.

Resistance level: 1.3065, 1.3105

Support level: 1.3030, 1.3005

EURUSD, H4: EURUSD was traded lower following prior retracement from the resistance level at 1.1320. MACD which illustrate bearish momentum suggest the pair to extend its retracement toward the support level at 1.1280.

Resistance level: 1.1320, 1.1355

Support level: 1.1280, 1.1255

USDJPY, H4: USDJPY was traded lower following prior retracement from the resistance level at 112.00. MACD which display bearish momentum suggest the pair to extend its losses toward the support level at 111.40.

Resistance level: 112.00, 112.35

Support level: 111.40, 110.85

AUDUSD, H1: AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7175. MACD which display diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 0.7195.

Resistance level: 0.7195, 0.7225

Support level: 0.7175, 0.7145

NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level at 0.6705.  MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 0.6740.

Resistance level: 0.6740, 0.6780

Support level: 0.6705, 0.6675

USDCAD, H4: USDCAD was traded higher following prior breakout above the previous resistance level at 1.3345. MACD which illustrate diminishing bearish momentum and formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.3390.

Resistance level: 1.3390, 1.3440

Support level: 1.3345, 1.3290

USDCHF, H1: USDCHF was traded lower following prior retracement from higher level. MACD which display bearish momentum suggest the pair to extend its losses toward the support level at 1.0090.

Resistance level: 1.0120, 1.0160

Support level: 1.0090, 1.0065

CrudeOIL, H4: Crude oil price was traded lower while currently testing the 50 moving average line (Blue). MACD which display bearish momentum and the formation of death cross suggest the commodity to extend its losses after successfully breakout below the 50 moving average line.

Resistance level: 64.50, 65.95

Support level: 63.45, 62.85

GOLD_, Daily: Gold price was traded lower following prior breakout below the previous support level at 1275.10. MACD which illustrate bearish momentum suggest gold to extend losses toward the support level at 1253.10.

Resistance level: 1275.10, 1302.30

Support level: 1253.10, 1231.15