Daily Analysis

5 December 2018                              Morning Session Analysis

Dollar revives as Brexit angst continues.

US dollar rebound from lows against other major currencies following a plunge in pound sterling. At the same time, safe-haven assets such as Japanese yen was well demanded after US President Donald Trump tweet raises fears that the trade war is not over. As of writing, the dollar index was quoted up 0.05% to 96.85 during Asian trading session. In his official twitter, Trump tweeted that he is a “Tariff Man”, reminding the market that he is not afraid to re-escalate trade tension with China. His tweet has sparked higher risk aversion in the market, scaling down market optimism that US-China trade war tension has subside following prior agreement to refrain from introducing new tariffs within 90 days. On the other hand, pound sterling rose sharply on yesterday after European official stated that UK could unilaterally cancel its withdrawal from EU, stoking higher hopes for a null-Brexit. However, the rally was short-lived and pound sterling plunged sharply after UK Prime Minister Theresa May’s government was defeated in the parliament and lawmakers received more power over the next Brexit steps if she fails to garner majority vote on December 11^th. Pair of GBP/USD ticked down 0.02% to $1.2718.

In the commodities market, crude oil price recovered its losses by 0.38% to $52.71 per barrel. The commodity price was supported after two major oil pipelines linking Canada to US was hit by disruption, reducing the rate of oil supply for temporarily. Otherwise, gold price notched up 0.02% to $1,238.72 a troy ounce following higher risk aversion in the market.

Today’s Holiday Market Close

Time                       Market                  Event

All Day                   USD                        Mourning – In Honour of George H.W. Bush

Today’s Highlight Events

Time                       Market                  Event

16:30                     EUR                        ECB President Draghi Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H1: Dollar index was traded higher while currently testing at the upper level of descending channel. MACD which illustrate bullish signal suggests the index to extend its gains after breaking the top level of the channel.

Resistance level: 97.00, 97.40

Support level: 96.80, 96.60

GBPUSD, H1: GBPUSD was traded lower following prior retrace from the top level. MACD which illustrate persistent bearish signal suggests the pair to extend its losses in short-term towards the direction of 1.2690.

Resistance level: 1.2725, 1.2770

Support level: 1.2690, 1.2640

EURUSD, H4: EURUSD was traded lower following prior retrace from the top level of symmetry triangle. MACD which begins to form a bearish signal suggests the pair to extend its losses, towards the direction of 1.1310.

Resistance level: 1.1360, 1.1410

Support level: 1.1310, 1.1265

USDJPY, H1: USDJPY was traded higher following prior rebound from the support level at 112.60. MACD which begins to form a golden cross signal suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 112.95, 113.30

Support level: 112.60, 112.10

AUDUSD, H4: AUDUSD was traded lower following prior retracement from the top level of ascending channel. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 0.7300.

Resistance level: 0.7340, 0.7390

Support level: 0.7300, 0.7265

NZDUSD, H4: NZDUSD was traded lower following prior retracement from the higher levels. MACD which begins to form a death cross signal suggests the pair to be traded lower in short-term as technical correction.

Resistance level: 0.6940, 0.7000

Support level: 0.6890, 0.6830

USDCAD, H4: USDCAD was traded higher following prior rebound from the support level near 1.3155. MACD which has formed a bullish signal suggests the pair to extend its gains, towards the direction of 1.3285.

Resistance level: 1.3285, 1.3320

Support level: 1.3255, 1.3210

USDCHF, H4: USDCHF remains traded within a sideways channel following prior rebound from the bottom level. MACD which illustrate bullish signal suggests the pair to extend its gains in short-term, towards the direction of 1.0000.

Resistance level: 1.0000, 1.0040

Support level: 0.9955, 0.9930

CrudeOIL, H1: Crude oil price was traded lower following prior false breakout at 53.90. MACD which illustrate bearish signal suggests the commodity price to extend its losses in short-term, towards the target of 52.00.

Resistance level: 53.90, 55.35

Support level: 52.00, 50.25

GOLD_, H1: Gold price was traded lower following prior retracement from the resistance level near 1242.10. MACD which illustrate bearish signal suggests its price to extend its losses in short-term as technical correction.

Resistance level: 1237.25, 1242.10

Support level: 1228.00, 1220.00

4 December 2018                              Afternoon Session Analysis

Dollar plunges amid ceasefire on trade war.

Dollar index weakens against a basket of six major currencies ahead of European trading session amid temporary ceasefire of trade war after the meeting between US President Donald Trump and China President Xi Jinping last week where both leaders agreed to a 90-day truce where no additional or new tariff will be imposed while a permanent deal are being negotiated. The truce had led to global market growth which caused investors to flee from safe-haven dollar and enter to riskier assets such as China Yuan and Australian dollar. Dollar index fell by 0.33% to 96.60. In other news, pair of AUD/USD increased by 0.23% to 0.7375 after the release of Reserve Bank of Australia (RBA) interest rate statement where the bank will remain the official cash rate at 1.50% for the 28^th months. RBA governor Philip Lowe stated that global economic expansion is advancing and unemployment rates are low among advanced economies. Temporary ceasefire of the trade war also helped boost the Australian dollar as easing trade tensions between China and US will benefit China’s major trade partners.

For the commodities market, crude oil price increased by 0.51% to $53.35 per barrel while sentiment remains positive for the crude market as OPEC and Russia are expected to cut global supply to stabilize global glut Otherwise, gold price rose 0.47% to $1,236.20 a troy ounce as investors flee from dollar market into safe-haven assets.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

17:15                     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 upward trend line and support level 96.60. MACD which illustrate bearish momentum suggest index to extend its losses after a breakout below the support level.

Resistance level: 96.75, 96.90

Support level: 96.60, 96.40

GPBUSD, H4: GBPUSD was traded higher following prior rebound from the support level 1.2730. MACD which display diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.2760.

Resistance level: 1.2760, 1.2800

Support level: 1.2730, 1.2700

EURUSD, H4: EURUSD was traded higher while currently testing near the resistance level and downward trend line. MACD which illustrate bullish signal suggest the pair to extend its gains after a breakout above the resistance level and trend line.

Resistance level: 1.1370, 1.1410

Support level: 1.1340, 1.1310

USDJPY, H4: USDJPY was traded lower following prior breakout from the previous support level 113.25. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the support level 112.95.

Resistance level: 113.25, 113.50

Support level: 112.95, 112.60

AUDUSD, H4: AUDUSD was traded higher while currently testing near the resistance level 0.7370. MACD which illustrate diminishing bullish momentum suggest the pair to undergo a technical correction and retrace from the resistance level.

Resistance level: 0.7370, 0.7400

Support level: 0.7340, 0.7315

NZDUSD, H4: NZDUSD was traded higher while currently testing near the resistance level 0.6950. MACD which illustrate bullish momentum suggest the pair to extend its gains after a breakout above the resistance level.

Resistance level: 0.6950, 0.7005

Support level: 0.6905, 0.6845

USDCAD, H4: USDCAD was traded lower while currently testing near the support level 1.3180. MACD which illustrate bearish momentum suggest the pair to extend its losses after a breakout below the support level.

Resistance level: 1.3210, 1.3260

Support level: 1.3180, 1.3145

USDCHF, H4: USDCHF remain traded in a sideway channel while currently testing near the support level 0.9955. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the bottom level of the channel.

Resistance level: 0.9990, 1.0030

Support level: 0.9955, 0.9915

CrudeOIL, H1: Crude oil price was traded higher following prior breakout from the previous resistance level 53.15. MACD which illustrate diminishing bullish momentum suggest the commodity to undergo short-term technical correction and traded lower towards the support level 53.15.

Resistance level: 54.15, 55.15

Support level: 53.15, 52.25

GOLD_, H4: Gold price was traded higher while currently testing near the resistance level 1235.70. MACD which display persistent bullish momentum suggest the commodity to extend its gains towards the resistance level 1239.95.

Resistance level: 1239.95, 1242.10

Support level: 1235.70, 1231.00

4 December 2018                              Morning Session Analysis

Greenback somber as trade war eases.

US dollar tumbled against other major currencies on Monday as investors digests reports of temporary US-China trade truce and ambivalent economic data from the region. As of writing, the dollar index was quoted down 0.33%, last seen around 96.85. Prior, US and China agreed to hold off tariff introduction for 90 days as the two nations continues their trade talk. On the other hand, the release of duo economic data from yesterday did little to suppress its losses as traders fled towards risk-sensitive assets due to diminishing trade war worries. According to ISM, its manufacturing PMI for the month of November ticks up to 59.3, exceeding economist expectation of 57.6. However, Construction Spending fell short of forecast for last month, coming in at only 0.1% versus 0.4%. Elsewhere, pound sterling plunged sharply on yesterday before recovering its losses this morning due to ongoing market worries over the imminent Parliamentary Brexit vote. Investors were concerned that UK Prime Minister would not be able to attain sufficient vote needed to pass the Brexit draft agreement next week and it may lead to a “No-Confidence” vote against her. During Asian session, pair of GBP/USD ticks up 0.03% to 1.2725.

In the commodities market, crude oil price tacks up 0.23% to $53.12 per barrel this morning. The commodity remained well supported as other nations such as Canada and Malaysia announced their support towards OPEC by lowering their local daily oil production levels. Otherwise, gold price rose 0.07% to $1,231.60 a troy ounce following weaker dollar.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

11:30                     AUD                                       RBA Rate Statement

17:15                     GBP                                        BoE Gov Carney Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H1: Dollar index was traded lower following prior retracement from the top level of the narrowing triangle. MACD which begins to form a death cross signal suggests the index to extend its losses after closing below 96.80.

Resistance level: 97.00, 97.40

Support level: 96.80, 96.60

GPBUSD, H4: GBPUSD was traded lower following prior retracement from the top level. MACD which illustrate bearish signal suggests the pair to extend its losses in short-term as technical correction.

Resistance level: 1.2725, 1.2770

Support level: 1.2690, 1.2640

EURUSD, H4: EURUSD was traded higher following prior rebound from the lower levels. MACD which begins to form a golden cross signal suggests the pair to extend its gains after closing above the threshold 1.1360.

Resistance level: 1.1360, 1.1410

Support level: 1.1310, 1.1265

USDJPY, H1: USDJPY was traded lower following prior retracement from 113.70. MACD which begins to form a death cross signal suggests the pair to be traded lower in short-term after closing below the 20-MA line (red).

Resistance level: 113.70, 113.85

Support level: 113.30, 112.95

AUDUSD, H1: AUDUSD remains traded within an ascending channel while currently testing at the bottom level. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term, towards the direction of 0.7340.

Resistance level: 0.7370, 0.7415

Support level: 0.7340, 0.7300

NZDUSD, H4: NZDUSD was traded higher following prior closure above 0.6890. MACD which illustrate bullish signal suggests the pair to extend its gains after successfully closing above the resistance of 0.6940.

Resistance level: 0.6940, 0.7005

Support level: 0.6890, 0.6830

USDCAD, H1: USDCAD was traded higher following prior rebound from the support level near 1.3155. MACD which illustrate bullish signal suggests the pair to extend its gains in short-term towards 1.3210.

Resistance level: 1.3210, 1.3255

Support level: 1.3155, 1.3115

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level at 1.0000. MACD which illustrate imminent formation of death cross signal suggests the pair to extend its losses in short-term, towards the direction of 0.9955.

Resistance level: 1.0000, 1.0040

Support level: 0.9955, 0.9930

CrudeOIL, H4: Crude oil price was traded higher following prior breakout from the downward trendline. MACD which illustrate bullish signal suggests its prices to be traded higher and advance towards 53.90.

Resistance level: 53.90, 55.35

Support level: 52.00, 50.25

GOLD_, H4: Gold price was traded higher following prior breakout from 1228.00. MACD which continues to illustrate persistent bullish signal suggests its price to extend its gains, towards the direction of 1237.25.

Resistance level: 1237.25, 1242.10

Support level: 1220.00, 1215.95

3 December 2018             Afternoon Session Analysis

Greenback tumbled while investor await for PMI.

Dollar index which measured against six major currencies plunged after hitting 97.20 level as investor shy away from safe heaven asset. At the same time, the demand for riskier asset rises after China and United States agreed to cease fire in their trade war which lasts for 90 days. During G20 Argentina Summit, Donald Trump revoked what he announced on last week and promised with Chinese premier that he would not increase the tariffs on $200 billion of China imported goods to 25 percent. Besides, investor are also keeping their eyes on the ISM Manufacturing PMI data which will be announced on later today. Economist forecast the data would come in at 57.5 while a higher than expected reading will exert bullish momentum toward US Dollar. As of writing, Dollar index notched down 0.30% to 96.85. On the other hand, AUD/USD up 0.75% to 0.7458 during Asian trading session amid upbeat China’s Caixin PMI data announced this morning. According to National Bureau of Statistics (NBS), China PMI data came in at 50.2 slightly higher than economist forecast of 50.0, thus it generated positive momentum toward Australian dollar. Australian dollar is highly sensitive towards China’s economic data as the latter is Australia’s largest trade partner.

In the commodities market, crude oil notched up 5.89% to $53.65 after an announcement from Canada that Alberta would force oil producer to reduce the oil production to 325k barrel per day. Next, gold price notched up 0.28% to $1225.50 amid dollar’s weakness.

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 the resistance level at 96.90. MACD which illustrate diminishing bullish momentum suggest the index to extend its losses toward the support level at 96.65.

Resistance level: 96.90, 97.05

Support level: 96.65, 96.25

GBPUSD, H4: GBPUSD was traded higher following prior rebound from the support level at 1.2725. MACD which illustrate diminishing bullish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.2785.

Resistance level: 1.2785, 1.2835

Support level: 1.2725, 1.2670

EURUSD, H4: EURUSD was traded higher while currently testing near the resistance level at 1.1365. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gain after successfully breakout above the resistance level at 1.1365.

Resistance level: 1.1365, 1.1395

Support level: 1.1330, 1.1270

USDJPY, H4: USDJPY was traded lower in the sideway channel following prior retracement from the resistance level at 113.75. However, MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher in short term toward the resistance level at 113.75.

Resistance level: 113.75, 114.00

Support level: 113.20, 112.45

AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level at 0.7360. MACD which display bullish bias momentum suggest the pair to extend its gain toward the resistance level at 0.7380.

Resistance level: 0.7380, 0.7405

Support level: 0.7360, 0.7325

NZDUSD, H1: NZDUSD was traded higher following prior rebound from the support level at 0.6885. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term toward the support level at 0.6885.

Resistance level: 0.6920, 0.6955

Support level: 0.6885, 0.6835

USDCAD, H1: USDCAD was traded lower following prior breakout from the previous support level at 1.3225. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 1.3190.

Resistance level: 1.3225, 1.3250

Support level: 1.3190, 1.3140

USDCHF, H4: USDCHF was traded lower in the sideway channel following prior retracement from the resistance level at 1.0005. MACD which illustrate bullish momentum suggest the pair to extend its losses toward the support level at 0.9955.

Resistance level: 1.0005, 1.0045

Support level: 0.9955, 0.9920

CrudeOIL, H4: Crude oil was traded higher following prior breakout above the previous resistance level at 53.20. MACD which illustrate bullish momentum suggest the commodity to extend its gain toward the resistance level at 55.15.

Resistance level: 55.15, 57.65

Support level: 53.20, 50.10

GOLD_, H4: Gold was traded higher following prior breakout above the previous resistance level at 1223.30. MACD which illustrate bullish bias momentum suggest the pair to extend its gain toward the support level at 1228.50.

Resistance level: 1228.50, 1235.65

Support level: 1223.30, 1218.60

3 December 2018                              Morning Session Analysis

Trump-Xi agree to trade war truce.

US dollar was opened lower against a basket of six major peers on Monday while investors digests the truce between US President Donald Trump and China President Xi Jinping with regards to trade war. The dollar index was quoted down 0.13%, last seen around 97.06 during early Asian trading session. According to reports, Trump and Xi has agreed to keep their trade war from escalating by promising to halt the imposition of new tariffs for 90 days. At the same time, China has agreed to buy a “substantial” amount of agricultural, industrial and energy products from the US. The truce between two economic giants emerged after a highly anticipated meeting on the sidelines of G20 summit in Argentina. Following the report, risk appetite returned into the market with higher demand for Australian dollar, New Zealand dollar and Chinese yuan. Likewise, equities from emerging market also received higher demand while safe-havens such as Japanese yen and Swiss Franc slipped lower. For the week, investors will place their focus on the highly anticipated US jobs report for fresh indication of US monetary policy in the near future.

In the commodities market, crude oil price skyrocketed 3.06% to $52.15 per barrel. The commodity received large buybacks following diminishing trade war risk between US and China which have dialed down the expectation of global market slowdown. Otherwise, gold price ticks up 0.04% to $1,222.68 a troy ounce following weaker 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, H1: Dollar index was opened lower following prior retrace from the higher levels. MACD which illustrate diminishing upward momentum suggests the index to extend its losses, towards the direction of 96.80.

Resistance level: 97.00, 97.40

Support level: 96.80, 96.60

GBPUSD, H1: GBPUSD was traded higher following prior rebound from the support level near 1.2725. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 1.2770.

Resistance level: 1.2770, 1.2835

Support level: 1.2725, 1.2690

EURUSD, H1: EURUSD was traded higher following prior rebound from the support level at 1.1310. MACD which begin to form a golden cross signal suggests the pair to extend its gains after closing above the 20-MA line (red).

Resistance level: 1.1360, 1.1410

Support level: 1.1310, 1.1265

USDJPY, H1: USDJPY was traded lower following prior retracement from the resistance level at 113.85. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses after closing below the 60-MA line (green).

Resistance level: 113.70, 113.85

Support level: 113.30, 112.95

AUDUSD, H1: AUDUSD was traded lower following prior retracement from 0.7370. However, MACD which continues to illustrate persistent bullish signal suggests the pair to extend its gains after closing above the threshold of 0.7370.

Resistance level: 0.7370, 0.7415

Support level: 0.7300, 0.7265

NZDUSD, H4: NZDUSD was opened higher during early Asian trading session. MACD which illustrate bullish signal and momentum suggests the pair to extend its gains after closing above the threshold of 0.6940.

Resistance level: 0.6940, 0.7000

Support level: 0.6890, 0.6830

USDCAD, H4: USDCAD was traded lower following prior retracement from the higher level. MACD which illustrate bearish signal suggests the pair to extend its losses after successfully breaking the upward trendline.

Resistance level: 1.3255, 1.3285

Support level: 1.3210, 1.3155

USDCHF, H1: USDCHF was traded lower following prior retracement from the resistance level at 1.0000. MACD which illustrate bearish signal and momentum suggests the pair to extend its losses after closing below the 20-MA line (red).

Resistance level: 1.0000, 1.0040

Support level: 0.9955, 0.9930

CrudeOIL, H4: Crude oil price extended gains following prior breakout from the downward trendline. MACD which illustrate persistent bullish signal suggests its prices to extend its gains in short-term, towards the direction of 53.90.

Resistance level: 53.90, 55.35

Support level: 52.00, 50.25

GOLD_, H4: Gold price was traded higher following prior rebound near 1215.95. MACD which illustrate significant bullish signal suggests its price to extend its gains in short-term after closing above the 20-MA line (red).

Resistance level: 1228.00, 1237.25

Support level: 1220.00, 1215.95

30 November 2018          Afternoon Session Analysis

Dollar traded flat ahead of Trump-Xi meet.

Greenback held steady against a basket of six major currencies during Asian trading session as investors remained focused on a planned meeting between U.S. President Donald Trump and China Premier Xi Jinping at the G20 summit in Argentina. In G20 summit, issue of Sino-U.S. and other topics are expected to be taken up for discussion. However, market remain nervous as Trump sent mixed signal yesterday where an trade agreement was close but he is still deciding whether the agreement is fair to both countries. On the China side, Beijing wants a deal just as Washington does, but they are also emphasized that the deal must be “fair minded” if it wants to defuse spiraling tensions between United States and China. As of writing, Dollar index dipped 0.01% to 96.65. On the other hand, pair of GBP/USD notched down 0.05% to 1.2780 after British Prime Minister Theresa May commented that she will more focus on persuading lawmakers to back her Brexit deal at a vote in parliament instead of preparing plan B. As of now, the deal has been criticized by both eurosceptics and qurophiles among her own Conservative Party while the opposition parties also said that they plan to vote against the Brexit deal.

In the commodities market, crude oil inched up 0.55% to 51.50 per barrel after hitting one year low amid Russia agreed on the need to reduce the output ahead of an OPEC meeting next week in Vienna. The major oil producer including Russia and Saudi Arabia will meet with other OPEC member next week to discuss on the oil output for next six months. Besides, gold notched up 0.03% to 1224.50 a troy ounce amid Dollar’s weakness.

Today’s Holiday Market Close

Time                      Market                 Event

N/A

Today’s Highlight Event

Time                      Market                 Event

N/A

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level at 56.55. MACD which illustrate diminishing bearish momentum suggest the index to extend its gains toward the resistance level at 96.85.

Resistance level: 96.85, 97.35

Support level: 96.55, 96.25

GBPUSD, H1: GBPUSD was traded higher following prior rebound from the support level at 1.2765. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 1.2835.

Resistance level: 1.2835, 1.2885

Support level: 1.2765, 1.2725

EURUSD, H4: EURUSD was traded higher following prior breakout above the asymmetrical triangle at 1.1385. MACD which display bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.1415.

Resistance level: 1.1415, 1.1455

Support level: 1.1365, 1.1330

USDJPY, H1: USDJPY was traded higher in sideway channel following prior rebound from the support level at 113.20. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short term toward the support level at 113.20.

Resistance level: 114.00, 114.50

Support level: 113.20, 112.45

AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level at 0.7330. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.7290.

Resistance level: 0.7330, 0.7360

Support level: 0.7290, 0.7265

NZDUSD, H1: NZDUSD was traded lower in sideway channel following prior retracement from the resistance level at 0.6880. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6835.

Resistance level: 0.6880, 0.6920

Support level: 0.6835, 0.6800

USDCAD, H1: USDCAD was traded higher in sideway channel while currently testing near the resistance level at 1.3295. MACD which display bullish bias momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 1.3295.

Resistance level: 1.3295, 1.3315

Support level: 1.3250, 1.3225

USDCHF, H4: USDCHF was traded higher following prior breakout above the previous resistance level at 0.9955. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.0000.

Resistance level: 1.0000, 1.0045

Support level: 0.9955, 0.9920

CrudeOIL, H4: Crude oil was traded higher following prior rebound from the support level at 50.10. MACD which illustrate bullish momentum and the formation of golden cross suggest the commodity to extend its gain toward the resistance level at 53.20.

Resistance level: 53.20, 55.15

Support level: 50.10, 49.20

GOLD_, H4: Gold was traded lower following prior retracement from the resistance level at 1228.15. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1220.45.

Resistance level: 1228.15, 1235.65

Support level: 1220.45, 1215.40

30 November 2018                           Morning Session Analysis

Dollar dulls as neutral rate approaches.

US dollar was traded sideways against a basket of six major peers on Thursday as Federal Reserve meeting minutes did little to evoke larger market momentum. As of writing, the dollar index was down 0.02% to 96.62. According to the meeting minutes from November’s meeting, Fed officials continued to expect that further gradual rate hike would be consistent with sustained expansion of the economy. However, latest speech from Fed Chairman Jerome Powell earlier this week has dialed down market expectation for more rate hikes in the future as he deemed the current interest rate range to be “nearing” a neutral rate level. In addition to that, downbeat US economic data which were released recently has also signaled for an economic activity cooling for months to come, further easing investor’s optimism for more monetary policy tightening from the US. On the other hand, pound sterling was pressed down by bearish market as investor’s fret for the outcome of UK Parliament’s vote for Brexit deal on December 11^th. The vote would market an important milestone in two years of negotiation between UK and EU and it will determine whether UK will exit with a “soft” or “hard” Brexit approach. As such, pair of GBP/USD was down 0.02% to 1.2779.

On the commodities market, crude oil price rose 0.10% to $51.19 per barrel. Oil price received some bullish support after Russia reportedly reached a consensus with OPEC that an output reduction is necessary and they will continue to analyze the size and timing of the cuts. Otherwise, gold price was down 0.04% to $1,223.99 a troy ounce as investor’s risk appetite returns for more risky assets such as bonds and stocks.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Event

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 support level at 96.60. MACD which illustrate bullish signal suggests the index to extend its gains in short-term, towards the direction of 97.00.

Resistance level: 97.00, 97.40

Support level: 96.60, 96.20

GPBUSD, H4: GBPUSD remains traded within a descending channel while currently testing at 1.2770. MACD which begins to form a death cross signal suggests the pair to extend its losses after closing below 1.2770.

Resistance level: 1.2835, 1.2895

Support level: 1.2770, 1.2690

EURUSD, H4: EURUSD was traded flat following prior rebound from the bottom level of the narrowing triangle. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.

Resistance level: 1.1410, 1.1450

Support level: 1.1360, 1.1310

USDJPY, H4: USDJPY was traded lower following prior retrace from the 20-MA line (red). MACD which illustrate persistent downward signal suggests the pair to extend its losses after closing below 113.30.

Resistance level: 113.70, 113.85

Support level: 113.30, 112.95

AUDUSD, H1: AUDUSD was traded lower following prior retracement near the moving average line. MACD which illustrate bearish signal suggests the pair to extend its losses towards the support level at 0.7300.

Resistance level: 0.7340, 0.7370

Support level: 0.7300, 0.7265

NZDUSD, H4: NZDUSD was traded flat following prior retrace from the resistance level near 0.6890. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.

Resistance level: 0.6890, 0.6940

Support level: 0.6830, 0.6780

USDCAD, H1: USDCAD remains traded within a range while currently testing at the top level. MACD which illustrate bullish signal suggests the pair to extend its gains after successfully breaking the top level of the range.

Resistance level: 1.3285, 1.3320

Support level: 1.3255, 1.3210

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

Resistance level: 1.0000, 1.0040

Support level: 0.9955, 0.9930

CrudeOIL, H1: Crude oil price was traded higher following prior rebound from the moving average line. MACD which illustrate bullish signal suggests the commodity price to be traded higher in short-term as technical correction.

Resistance level: 52.00, 53.90

Support level: 50.25, 49.50

GOLD_, H4: Gold price was traded lower following prior retracement from the threshold of 1228.00. MACD which illustrate diminishing upward momentum suggests its prices to be traded lower in short-term, towards the direction of 1220.00.

Resistance level: 1228.00, 1237.25

Support level: 1220.00, 1215.95

29 November 2018                           Afternoon Session Analysis

Dollar slumped amid US escalating trade war plans.

Dollar downed against its basket of six major pairs amid concerns from US President Donald Trump to propose tariff in automobile industry to protect its nation’s interest. According to news resource, US President Donald Trump has announced on Wednesday he is exploring new tariff in automobile industry as a solution to promote domestic production and also protect jobs. The auto tariff would further worsen its trade relations with China and also escalate trade tensions with more countries, such as Japan which is a major automobile exporter in a global economy. Besides that, dollar sentiment was further pressured by Fed Powell’s dovish statement on early Thursday. Dollar index fell 0.07% to 96.57 as of writing. Meanwhile, GBPUSD rose 0.15% to 1.2845 at the time of writing amid optimism from BoE’s Governor Mark Carney over Brexit uncertainty. According to news, BoE Governor Mark Carney has reassured that BoE is fully prepared regardless of Brexit outcome and stated that it has “contingency plans in place to support market functioning if necessary.”

As for commodities market, crude oil price ticked higher by 0.72% to $50.63 per barrel amid market optimism in G20 meeting trade talk could improve crude oil’s demand outlook in the global economy despite increase in U.S crude oil inventories. On the other hand, gold price surged 0.34% to $1,224.90 a troy ounce following dollar’s weakness amid dovish Powell.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

16:00                     EUR                                        ECB President Draghi Speaks

03:00 (30^th)          USD                                        FOMC Meeting Minutes

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower while currently testing the support level 96.55. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level 96.55.

Resistance level: 96.85, 97.45

Support level: 96.55, 96.25

GBPUSD, H4: GBPUSD was traded lower following prior rebound from the support level 1.2765. MACD which display bullish momentum with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.2880.

Resistance level: 1.2880, 1.3025

Support level: 1.2765, 1.2700

EURUSD, H4: EURUSD was traded higher following prior breakout above the previous resistance level 1.1365. MACD which display bullish bias with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1.1420.

Resistance level: 1.1420, 1.1485

Support level: 1.1305, 1.1225

USDJPY, H4: USDJPY was traded lower following prior breakout below the previous support level 113.65. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair to extend its losses towards the support level 113.10.

Resistance level: 113.65, 114.15

Support level: 113.10, 112.40

AUDUSD, H4: AUDUSD was traded higher following prior breakout above the previous resistance level 0.7265. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7330.

Resistance level: 0.7330, 0.7370

Support level: 0.7265, 0.7215

NZDUSD, H4: NZDUSD was traded higher following recent breakout above the previous resistance level 0.6805. MACD which display bullish bias signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.6880.

Resistance level: 0.6880, 0.6975

Support level: 0.6805, 0.6755

USDCAD, H4: USDCAD was traded lower while currently testing the support level 1.3260. MACD which illustrate bearish momentum with the formation of death cross and negative divergence suggest the pair to extend its losses after it breaks below the support level 1.3260.

Resistance level: 1.3315, 1.3360

Support level: 1.3260, 1.3180

USDCHF, H4: USDCHF was traded lower while currently testing the support level 0.9915. MACD which illustrate bearish momentum signal with the formation of death cross suggest the pair extend its losses after its breaks below the support level 0.9915.

Resistance level: 0.9955, 1.0000

Support level: 0.9915, 0.9860

CrudeOIL, H4: Crude oil price remains traded in sideway while currently testing the support level 50.40. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level 50.40.

Resistance level: 52.85, 55.00

Support level: 50.40, 49.05

GOLD_, H4: Gold was traded higher following prior breakout above the previous resistance level 1220.00. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 1228.50.

Resistance level: 1228.50, 1234.50

Support level: 1220.00, 1212.50

29 November 2018                           Morning Session Analysis

Dollar trips as Powell deliver doves.

Greenback swooped lower on yesterday after Fed Chairman Jerome Powell delivers dovish signal on top of lower-than-expected economic growth data for the third quarter. According to Powell, current levels of interest rates were “just below” the neutral level, suggesting that the neutral rate is somewhere in between 2.5% to 3.5%. Current interest rates stand at 2% to 2.25% range. His dovishness has latched into the market which are previously optimistic towards a more aggressive stance towards interest rate hike in the future. In addition, the greenback suffered from further losses following the release of downbeat economic growth data for the third quarter. According to US Bureau of Economic Analysis, Gross Domestic Product came in at only 3.5%, missing economist forecast for a reading of 3.6%. The data has accompanied a slew of recent bearish economic releases, pointing towards an imminent economic cooldown in the near future. On the other hand, pound sterling rose sharply on yesterday following slightly hawkish tone from Bank of England’s Governor Mark Carney. According to Carney, a disorderly Brexit is seen to be unlikely while UK financial system remains “resilient” to any potential shock which includes a no-deal Brexit. As of writing, the dollar index was down 0.55% to 96.71 while pair of GBP/USD ticked up 0.02% to 1.2825.

In the commodities market, crude oil price slumped 3.36% to $50.52 per barrel. Oil prices retreat towards the $50 threshold after EIA reported that US crude oil stockpiles rose for 10^th consecutive week by 3.58 million barrels last week. Otherwise, gold price tacks up 0.02% to $1,220.94 a troy ounce following broader weakness on the greenback.

Today’s Holiday Market Close

Time                       Market                                  Event

N/A

Today’s Highlight Events

Time                       Market                                 Event

16:00                     EUR                                        ECB President Draghi Speaks

03:00 (30^th)          USD                                        FOMC Meeting Minutes

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H1: Dollar index was traded higher following prior rebound from the upward trendline. MACD which illustrate diminishing downward momentum suggests the index to be traded higher in short-term, towards the direction of 97.00.

Resistance level: 97.00, 97.40

Support level: 96.60, 96.20

GBPUSD, H1: GBPUSD was traded lower following prior retrace from the threshold of 1.2835. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.

Resistance level: 1.2835, 1.2895

Support level: 1.2770, 1.2690

EURUSD, H1: EURUSD was traded lower while currently testing at the support level of 1.1360. MACD which shows diminishing upward momentum suggests the pair to extend its losses after closing below the support of 1.1360.

Resistance level: 1.1410, 1.1450

Support level: 1.1360, 1.1310

USDJPY, H4: USDJPY was traded lower following prior retracement from the higher levels. MACD which begins to form a death cross signal suggests the pair to extend its losses, towards the direction of 113.30.

Resistance level: 113.70, 113.85

Support level: 113.30, 112.95

AUDUSD, H1: AUDUSD was traded lower following prior retracement from the upper level. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses in short-term as technical correction.

Resistance level: 0.7300, 0.7340

Support level: 0.7265, 0.7215

NZDUSD, H1: NZDUSD was traded lower following prior retracement from the resistance level at 0.6890. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses in short-term, towards the direction of 0.6830.

Resistance level: 0.6890, 0.6940

Support level: 0.6830, 0.6710

USDCAD, H1: USDCAD was traded higher following prior rebound from the lower levels. MACD which illustrate diminishing downward momentum suggests the pair to extend its gains after closing above the 60-MA line (green).

Resistance level: 1.3320, 1.3385

Support level: 1.3255, 1.3210

USDCHF, H4: USDCHF was traded lower following prior breakout from the upward channel. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the threshold of 0.9930.

Resistance level: 0.9955, 1.0000

Support level: 0.9930, 0.9905

CrudeOIL, H1: Crude oil price was traded higher following prior rebound from the lower levels. MACD which illustrate diminishing downward momentum suggests its prices to extend its gains in short-term as technical correction.

Resistance level: 52.00, 53.90

Support level: 49.50, 47.50

GOLD_, H1: Gold price was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests its prices to move further upwards after breaking the downward trendline.

Resistance level: 1228.00, 1237.25

Support level: 1220.00, 1215.95

28 November 2018                           Afternoon Session Analysis

Dollar flat ahead of data and Fed’s speech. 

Greenback was traded flat against a basket of six major currencies before European trading session while investors are waiting for US GDP and New Home Sales data later today. The GDP data which measures the overall economy condition of a country will affect the dollar while current trade tensions weighing on. Following the release of the data is a speech given by Fed’s Chairman Jerome Powell where further confirmation of Fed’s plan for gradual rate hike might be included in the speech. Dollar index inched up by 0.01% to 97.20 as of writing. In other news, pair of EUR/USD edged up by 0.11% to 1.1300 amid Italian’s willingness to make amendments for their budget plan. The budget of 2.4% GDP deficit had led the EU to back up The European Commission (EC) decision to fine Italy due to the breach of EC’s budget requirement. According to news, Italian Deputy Prime Minister Luigi Di Maio appeared to backtrack with the budget plan which boosted the sentiment for euro market after falling to 2-weeks low.

As for commodities, crude oil price increases by 0.17% to $52.20 per barrel due to shutdown of Britain’s largest North Sea oilfield. OPEC’s meeting on 6^th December will be expected to provide positive sentiment for oil prices as they plan to cut supply by 1.4 million bpd expansively. Otherwise, gold price depreciated by 0.05% to $1,214.00 a troy ounce due to lower demand for safe-haven assets.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

01:00 (29^th)          USD                                        Fed Chair Powell Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H1: Dollar index was traded lower following prior retracement from the resistance level 97.40. MACD which illustrate bearish signal and the formation of death cross suggest index to extend its retracement towards the support level 97.15.

Resistance level: 97.40, 97.80

Support level: 97.15, 96.90

GBPUSD, H4: GBPUSD was traded higher while currently testing near the resistance level 1.2760. MACD which illustrate diminished bearish momentum suggest the pair to extend its gains after a breakout above the resistance level.

Resistance level: 1.2760, 1.2800

Support level: 1.2700, 1.2640

EURUSD, H4: EURUSD was traded higher following prior rebound near the support level 1.1270. MACD which display diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 1.1310.

Resistance level: 1.1310, 1.1340

Support level: 1.1270, 1.1245

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level 113.85. MACD which illustrate diminishing bullish momentum suggest the pair to retrace from the resistance level towards the support level of 113.50.

Resistance level: 113.85, 114.20

Support level: 113.50, 113.25

AUDUSD, H4: AUDUSD was traded higher following prior breakout above the previous resistance level 0.7230. MACD which illustrate bullish momentum suggest the pair to extend its gains towards the resistance level 0.7265.

Resistance level: 0.7265, 0.7290

Support level: 0.7230, 0.7200

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level 0.6795. MACD which display bullish bias and the formation of golden cross suggest the pair to extend its gains after a breakout above the resistance level.

Resistance level: 0.6795, 0.6845

Support level: 0.6755, 0.6710

USDCAD, H4: USDCAD was traded higher following prior breakout from the previous resistance level 1.3290. MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 1.3335.

Resistance level: 1.3335, 1.3380

Support level: 1.3290, 1.3260

USDCHF, H4: USDCHF was traded higher while currently testing near the resistance level 0.9990. MACD which illustrate diminished bearish momentum suggest the pair to retrace from its resistance level.

Resistance level: 0.9990, 1.0030

Support level: 0.9955, 0.9915

CrudeOIL, H1: Crude oil price was traded higher following prior breakout from the previous resistance level 52.25 and its sideway channel. MACD which illustrate bullish momentum suggest the commodity to extend its gains towards the resistance level 53.15.

Resistance level: 53.15, 54.15

Support level: 52.25, 51.50

GOLD_, H4: Gold price was traded lower while currently testing near the support level 1214.10. MACD which illustrate diminishing bearish momentum suggest the commodity to undergo short-term technical correction and rebound from the support level.

Resistance level1219.10, 1224.05

Support level: 1214.10, 1208.15

28 November 2018                           Morning Session Analysis

Sterling plunged after Trump comments.

US dollar rose against its rivals on Tuesday while shrugging off bearish economic data due to a large selloff in pound sterling. As of writing, the dollar index was quoted up 0.30% to 97.22 during early Asian session. In the economic front, the Conference Board’s Consumer Confidence Gauge fell to a reading of 135.7 for the month of November, missing economist forecast for a reading of 135.9. The data is a leading indicator of consumer spending as it plays major role in inflation and overall economic activity. In addition, the dollar received some bullish pressure following contradictory remarks from Federal Reserve Vice Chairman Richard Clarida. According to Clarida, he backs for a continuous gradual rate hikes for the time to come and there was no agreement as to “how close” interest rates were approaching the neutral level. On the other hand, pound sterling received tremendous bearish pressure following pessimistic outlook with regards to Brexit. According to reports, US President Donald Trump said that the Brexit agreement achieved between UK and EU may hamper trades between the US and UK, dialing down optimism for a smooth Brexit transition ahead. During Asian session, pair of GBP/USD was down 0.04% to 1.2741.

As for commodities, crude oil price extended its losses by 0.19% to $51.90 per barrel. The commodity remained on its backfoot as investors anxiously eyeing on OPEC’s upcoming meeting for further clarity with regards to future supply cuts. Otherwise, gold price depreciates by 0.08% to $1,214.05 a troy ounce following resilient US dollar.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

01:00 (29^th)          USD                        Fed Chair Powell Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout from 97.00. MACD which illustrate bullish signal suggests the index to extend its gains, towards the direction of resistance level at 97.40.

Resistance level: 97.40, 97.80

Support level: 97.00, 96.60

GBPUSD, H4: GBPUSD was traded lower following prior breakout from the support level of 1.2770. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.2690.

Resistance level: 1.2770, 1.2895

Support level: 1.2690, 1.2570

EURUSD, H4: EURUSD was traded lower following prior closure below the threshold of 1.1310. MACD which continues to illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.1265.

Resistance level: 1.1310, 1.1360

Support level: 1.1265, 1.1220

USDJPY, H1: USDJPY was traded lower following prior retracement from the higher levels. MACD which begins to form a negative divergence signal suggests the pair to extend its losses after successfully closing below 113.70.

Resistance level: 113.85, 114.20

Support level: 113.70, 113.30

AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level at 0.7215. MACD which begins to form a bullish signal suggests the pair to extend its gains in short-term after closing above the 20-MA line (red).

Resistance level: 0.7265, 0.7300

Support level: 0.7215, 0.7170

NZDUSD, H1: NZDUSD was traded lower following prior retracement from the top level of descending channel. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses in short-term, towards the lower level of the channel.

Resistance level: 0.6795, 0.6815

Support level: 0.6775, 0.6745

USDCAD, H4: USDCAD was traded higher following prior rebound from the support level near 1.3255. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 1.3320.

Resistance level: 1.3320, 1.3385

Support level: 1.3255, 1.3210

USDCHF, H1: USDCHF remains traded within an ascending channel following prior rebound from the lower level. MACD which illustrate diminishing downward momentum suggests the pair to extend its gains in short-term, towards the direction of 1.0000.

Resistance level: 1.0000, 1.0040

Support level: 0.9955, 0.9930

CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests its prices to be traded higher in short-term as technical correction.

Resistance level: 53.90, 55.35

Support level: 49.50, 47.50

GOLD_, H4: Gold price was traded lower following prior breakout from the strong support of 1220.00. MACD which illustrate bearish signal suggests its prices to extend its losses after closing below the support of 1212.00.

Resistance level: 1215.95, 1220.00

Support level: 1212.00, 1206.00

27 November 2018          Afternoon Session Analysis

Greenback plunged amid Trump tariff threat.

The dollar index tumbled against a basket of six major currencies after hitting two-week highs amid U.S President Donald Trump seemed to destroy the hope of a trade truce with China and intended to increase tariff on China imported goods. According to an interview conducted by Wall Street Journal, Donald Trump said he planned to move ahead with raising tariffs $200 billion on China imported goods from 10 percent to 25 percent. However, investors will still be keeping their eyes on the upcoming G20 meeting in Argentina where Donald Trump and China President Xi Jin Ping are likely to discuss about trade issues while positive outcome would exert bullish momentum toward the dollar index. As of writing, the dollar index dipped 0.05% to 96.85. On the other hand, pair of GBP/USD notched down 0.12% to 1.2810 ahead of Parliamentary vote on the Brexit deal scheduled on 11^th December. According to reports, economists expect that the risks for pound sterling is remain asymmetric around the UK Parliament vote. In the least optimistic situation, sterling would face huge selling pressure once the Withdrawal Agreement has been rejected by majority vote.

In the commodities market, crude oil notched down 0.29% to $51.40 per barrel amid Saudi Arabia hit a record high of oil production at between 11.1 million bpd and 11.3 million bpd in some days in November, reported by Reuters. Next, gold price notched up 0.02% to $1225.25 a troy ounce amid Dollar’s weakness.

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 lower in the upward channel while currently testing near the support level at 96.85. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully breakout from the support level at 96.85.

Resistance level: 97.05, 97.50

Support level: 96.85, 96.65

GBPUSD, H4: GBPUSD was traded lower in sideway channel following prior retracement from the resistance level at 1.2885. Due to lack of clear signal from MACD, it is suggested to wait until further signal appear such as a breakout below or rebound from the support level.

Resistance level: 1.2885, 1.2935

Support level: 1.2765, 1.2700

EURUSD, H1: EURUSD was traded higher following prior rebound from the support level at 1.1330. MACD which illustrate diminishing bearish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.1365.

Resistance level: 1.1365, 1.1415

Support level: 1.1330, 1.1270

USDJPY, H4: USDJPY was traded lower following prior retracement from the resistance level at 113.65. MACD which illustrate bearish momentum suggest the pair to extend its losses toward the support level at 113.05.

Resistance level: 113.65, 114.20

Support level: 113.05, 112.30

AUDUSD, H1: AUDUSD was traded higher in the sideway channel following prior rebound from the support level at 0.7215. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 0.7265.

Resistance level: 0.7265, 0.7290

Support level: 0.7215, 0.7175

NZDUSD, H1: NZDUSD was traded higher following prior rebound from the support level at 0.6755. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.6790.

Resistance level: 0.6790, 0.6845

Support level: 0.6755, 0.6715

USDCAD, H1: USDCAD was traded lower following prior retracement from the resistance level at 1.3265. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 1.3225.

Resistance level: 1.3265, 1.3285

Support level: 1.3225, 1.3190

USDCHF, H1: USDCHF was traded lower in upward channel following prior retracement from the channel’s resistance level at 0.9990. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 0.9960.

Resistance level: 0.9990, 1.0045

Support level: 0.9960, 0.9920

CrudeOIL, H1: Crude oil was traded lower following prior retracement from the resistance level at 51.95. MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the pair to extend its losses toward the support level at 50.35.

Resistance level: 51.95, 53.20

Support level: 50.35, 49.20

GOLD_, H1: Gold was traded lower in the sideway channel following prior retracement from the resistance level at 1228.15. However, MACD which illustrate diminishing bearish momentum suggest the commodity to be traded higher in short term toward the resistance level at 1228.15.

Resistance level: 1228.15, 1235.65

Support level: 1220.45, 1215.40

27 November 2018                           Morning Session Analysis

Dollar favored as risk persists.

Greenback was generally favored when compared to a basket of other major currencies on Monday due to a slew of negative factors and uncertainty such as Brexit and Italy budget crisis. The currency climbed back towards 97 thresholds since American trading session on yesterday ahead of a number of key Fed speakers for the week which includes Federal Reserve Chair Jerome Powell scheduled this coming Wednesday. However, gains on the greenback were capped as investors wait for the G20 summit in Argentina this coming Friday whereby US President Donald Trump and China President Xi Jinping is expected to meet on the sidelines to discuss for a possible trade deal. On the other hand, euro received fresh pressure from yesterday, giving up all its earlier gains due to dovish signals from European Central Bank President Mario Draghi. According to Draghi, moderation in recent economic data has been expected as uncertainties such as protectionism and trade war which arise from Trump administration grew. Thus, such moderation may push ECB to maintain significant monetary stimulus for the time being, dialing down investors’ expectation for a rate hike by autumn next year. As of writing, the dollar index was up 0.15% to 96.97 while EUR/USD ticks up 0.02% to 1.1334.

In the commodities market, crude oil price rose 0.04% to $51.47 per barrel. The commodity prices edged up from its 13-months low as investors ponder upon the possibility for an output cut from OPEC during its meeting early next month. Otherwise, gold price ticks up 0.03% to $1,222.65 a troy ounce over the backdrop of prominent risk that still lingers 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 lower following prior retrace from the top level of ascending channel. MACD which illustrate diminishing upward momentum suggests the index to be traded lower in short-term as technical correction.

Resistance level: 97.00, 97.40

Support level: 96.60, 96.20

GBPUSD, H1: GBPUSD remains traded within a descending triangle while currently testing at the bottom level. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2895, 1.2955

Support level: 1.2805, 1.2770

EURUSD, H4: EURUSD remains traded within a descending channel following prior rebound from the bottom level. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 1.1365, 1.1410

Support level: 1.1310, 1.1265

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

Resistance level: 113.70, 113.85

Support level: 113.30, 112.95

AUDUSD, H4: AUDUSD was traded lower following prior breakout from the bottom level of ascending channel. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 0.7170.

Resistance level: 0.7265, 0.7300

Support level: 0.7170, 0.7105

NZDUSD, H1: NZDUSD was traded lower following prior retracement from the resistance level of 0.6775. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the bottom level of the channel.

Resistance level: 0.6775, 0.6795

Support level: 0.6745, 0.6730

USDCAD, H4: USDCAD was traded higher while currently testing at the resistance level of 1.3255. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the threshold of 1.3255.

Resistance level: 1.3255, 1.3320

Support level: 1.3210, 1.3155

USDCHF, H4: USDCHF was traded higher following prior rebound from the support level of 0.9950. However, MACD which illustrate diminishing upward momentum may suggests the pair to be traded lower in short-term as technical correction.

Resistance level: 1.0000, 1.0040

Support level: 0.9955, 0.9905

CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the commodity price to extend its gains in short-term, towards the direction of 53.90.

Resistance level: 53.90, 55.35

Support level: 49.50, 47.50

GOLD_, H4: Gold price remains traded within a sideways channel following prior rebound from the bottom level. MACD which continues to illustrate bearish signal suggests its prices to extend its losses after closing below 1220.00.

Resistance level: 1228.00, 1237.25

Support level: 1220.00, 1215.95

26 November 2018                           Afternoon Session Analysis

Dollar fell ahead of meeting between US and China.

Dollar was traded lower against a basket of six major currencies ahead of early European trading session amid Friday’s meeting between US President Donald Trump and China President Xi Jinping right before the G20 summit. The meeting will be crucial for the ongoing trade war between the two countries, where investors are hoping for a hawkish tone from the meeting which could stop tensions from growing as two of the world’s largest economy engage in tariff imposing on each other. In other news, pair of GBP/USD was traded higher amid fall of dollar. Currently the outlook for the pound market remains subtle after EU’s approval of UK Prime Minister Theresa May’s Brexit withdrawal agreement. Investors will now focus on UK Parliament’s decision towards the draft where a rejection will be devastating for the pound. Dollar index fell by 0.04% to 96.75 while pair of GBP/USD inched higher by 0.06% to 1.2820 as of writing.

As for commodities market, crude oil price rallied by 0.26% to $51.15 per barrel ahead of early European trading session as a technical correction after plunging to a 13-month low. Sentiment remains cloudy in the oil market as participants are waiting for a possible change in trend after OPEC’s meeting on 6^th December. On the other hand, gold price increased by 0.19% to $1,224.95 a troy ounce due to dollar’s fall.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

22:00                     EUR                        ECB President Draghi Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout above previous resistance level at 96.70. MACD which illustrate diminishing bullish momentum suggest dollar to be traded lower after breaking below the support level 96.70.

Resistance level: 97.00, 97.40

Support level: 96.70, 96.40

GBPUSD, H1: GBPUSD was traded higher following prior rebound from the support level 1.2800. MACD which illustrate starting bullish momentum and the formation of golden cross suggest the pair to extend its rebound towards the resistance level 1.2855.

Resistance level: 1.2855, 1.2905

Support level: 1.2800, 1.2740

EURUSD, H1: EURUSD was traded higher while currently testing near the resistance level 1.1340. MACD which display bullish momentum and the formation of golden cross suggest the pair to extend its gains after a breakout above the resistance level.

Resistance level: 1.1340, 1.1370

Support level: 1.1310, 1.1270

USDJPY, H1: USDJPY was traded higher while currently testing near the resistance level 113.25. MACD which illustrate diminishing bullish momentum suggest the pair to undergo short-term technical correction and retrace from the resistance level.

Resistance level: 113.25, 113.50

Support level: 112.95, 112.60

AUDUSD, H4: AUDUSD was traded higher following prior rebound from the support level 0.7230. MACD which illustrate bullish momentum and starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.7265.

Resistance level: 0.7265, 0.7290

Support level: 0.7230, 0.7200

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level 0.6795. MACD which display bullish momentum suggest the pair to extend its gains after a breakout above the resistance level.

Resistance level: 0.6795, 0.6845

Support level: 0.6755, 0.6710

USDCAD, H1: USDCAD was traded lower following prior breakout below the previous support level 1.3210. MACD which display bearish momentum and the formation of death cross suggest the pair to extend its losses towards the support level 1.3180.

Resistance level: 1.3210, 1.3260

Support level: 1.3180, 1.3145

USDCHF, H1: USDCHF was traded lower following prior retracement near the resistance level 0.9990. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its retracement towards the support level 0.9955.

Resistance level: 0.9990, 1.0030

Support level: 0.9955, 0.9915

CrudeOIL, H4: Crude oil price was traded higher while currently testing near the resistance level 51.35. MACD which illustrate diminishing bearish momentum suggest the commodity to extend its gains after a breakout above the resistance level.

Resistance level: 51.35, 52.45

Support level: 49.60, 48.00

GOLD_, H4: Gold price was traded higher while currently testing near the resistance level 1225.50. MACD which display diminishing bearish momentum suggest the commodity to extend its gains after a breakout above the resistance level.

Resistance level: 1225.50, 1231.00

Support level: 1221.10, 1216.80

Highlighted economy data and events for the week: November 26 – 30

26 November 2018                           Morning Session Analysis

Dollar saved by euro’s weakness?

Greenback was opened higher on Monday while investors will be focusing their attention on Friday’s planned meeting between US President Donald Trump and Chinese counterpart Xi Jinping at the upcoming G20 summit. Last week, the dollar pulled back from its 16-months high following soft economic data and dovishness portrayed by some Federal Reserve officials. Some officials postulate to halt any further interest rate hike by Spring next year as neutral rate approaches sooner than later. The call was made following recent softness in inflationary pressure and retail sales whereby some may deem it to be fully capitalized and may reach its maximum potential soon. On the other hand, euro was opened lower this morning due to bearish sentiment within the market towards the single common currency. Last Friday, euro received higher selling pressure after economic data pointed towards further signs of economic slowdown that may change European Central Bank’s plan to taper their QE and tighten monetary policy. As of writing, the dollar index ticked up 0.03% to 96.79 while pair of EUR/USD was down 0.02% to 1.1335.

As for commodities market, crude oil price was down 1.45% to $50.26 per barrel during early Asian trading session. Oil prices collapses following a surge in global oil supply while market participants await OPEC meeting scheduled on 6^th December for further market signals. On the other hand, gold price ticks up 0.05% to $1,223.76 a troy ounce due to higher uncertainty within the market.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

22:00                     EUR                        ECB President Draghi Speaks

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior breakout from the narrowing triangle. MACD which illustrate bullish signal suggests the index to extend its gains, towards the direction of 97.00.

Resistance level: 97.00, 97.40

Support level: 96.60, 96.20

GBPUSD, H4: GBPUSD was traded lower following prior retracement from the top level of descending channel. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the support of 1.2805.

Resistance level: 1.2895, 1.2955

Support level: 1.2805, 1.2690

EURUSD, H4: EURUSD was traded lower following prior breakout from 1.1360. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of support level near 1.1310.

Resistance level: 1.1360, 1.1410

Support level: 1.1310, 1.1260

USDJPY, H4: USDJPY was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the resistance level at 112.95.

Resistance level: 112.95, 113.30

Support level: 112.60, 112.10

AUDUSD, H4: AUDUSD remains traded within an ascending channel while currently testing at the lower level. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking the lower level of the channel.

Resistance level: 0.7265, 0.7300

Support level: 0.7170, 0.7105

NZDUSD, H1: NZDUSD remains traded within a descending channel while currently testing at the lower level. MACD which begins to form a golden cross signal suggests the pair to extend its gains in short-term after closing above 0.6775.

Resistance level: 0.6775, 0.6795

Support level: 0.6745, 0.6730

USDCAD, H1: USDCAD was traded lower following prior retracement from the resistance level at 1.3255. MACD which illustrate bearish signal suggests the pair to extend its losses in short-term as technical correction.

Resistance level: 1.3255, 1.3320

Support level: 1.3210, 1.3155

USDCHF, H4: USDCHF was traded higher following prior breakout from prior sideways channel. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of resistance level near 1.0000.

Resistance level: 1.0000, 1.0040

Support level: 0.9955, 0.9905

CrudeOIL, H1: Crude oil price was traded lower following prior breakout from the strong support near 53.90. However, MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 53.90, 55.35

Support level: 49.50, 47.50

GOLD_, H4: Gold price was traded lower following prior retracement from the resistance level at 1228.00. MACD which illustrate bearish signal suggests the commodity price to extend its losses in short-term, towards the direction of 1215.95.

Resistance level: 1228.00, 1237.25

Support level: 1215.95, 1206.00