Daily Analysis

13 October 2021                Afternoon Session Analysis

Pound remain steady following upbeat jobs data.

The Pound sterling which traded against the dollar and other currency pairs remain steady and rose following upbeat economic data. According to Office for National Statistics, UK Average Earnings Index figures in August came at the reading of 7.2%, higher than the forecasted reading of 7.0%. In addition, UK Unemployment Rate in August came at the reading of 4.5%, matching with the forecasted reading. The positive data suggested a rapid expansion of UK labor market. Nevertheless, the recent supply shortages and ongoing energy crisis across Europe and Asia may dampened market sentiment due to the rising concerns that higher energy costs could derail the global economic recovery. As of writing, the pair of GBP/USD rose 0.03% to 1.3613.

In the commodities market, the crude oil price was down 0.01% to $80.41 per barrel as of writing amid technical correction after oil price reached its recent high. The overall sentiment toward oil market remained bullish following increasing global demand of oil driven by shortages of natural gas and gasoline in Asia and Europe. On the other hand, the gold price was edge higher 0.02% to $1760.95 a troy ounce as of writing following dollar retreat.

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 94.40. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 93.70.

Resistance level: 94.40, 94.90

Support level: 93.70, 93.10

GBPUSD, H4: GBPUSD was traded flat while currently testing the resistance level 1.3620. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher after it breaks above the resistance level.

Resistance level: 1.3620, 1.3745

Support level: 1.3435, 1.3300

EURUSD, H4: EURUSD remain traded in a sideway channel following recent rebound from the support level 1.1515. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound in short term towards the resistance level 1.1610.

Resistance level: 1.1610, 1.1690

Support level: 1.1515, 1.1440

USDJPY, H4: USDJPY was traded lower while currently testing the support level 113.40. MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the pair to extend its losses after it break below the support level.

Resistance level: 113.95, 114.55

Support level: 113.40, 112.60

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support level 0.7320. 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.

Resistance level: 0.7415, 0.7485

Support level: 0.7320, 0.7235

NZDUSD, H4: NZDUSD remain traded flat in a sideway channel. Due to lack of momentum and clear direction from MACD, it is suggested to wait until further signal appear before entering the market.

Resistance level: 0.6990, 0.7075

Support level: 0.6880, 0.6805

USDCAD, H4: USDCAD was traded flat while currently testing the support level 1.2455. However, MACD which illustrate bullish bias signal suggest the pair to be traded higher as a technical correction towards the resistance level 1.2585.

Resistance level: 1.2585, 1.2695

Support level: 1.2455, 1.2310

USDCHF, H4: USDCHF remain traded in a sideway channel following recent retracement from the resistance level 0.9305. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.9240.

Resistance level: 0.9305, 0.9365

Support level: 0.9240, 0.9185

CrudeOIL, H4: Crude was traded lower following recent retracement from its high level. MACD which illustrate bearish momentum signal with the recent formation of death cross suggest the commodity to extend its losses towards the support level 79.40.

Resistance level: 82.50, 84.55

Support level: 79.40, 76.40

GOLD, H4: Gold price remain traded flat in a sideway channel. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its gains towards the resistance level 1779.50.

Resistance level: 1779.50, 1806.85

Support level: 1747.05, 1721.65

13 October 2021                             Morning Session Analysis

Dollar surged as rising US Treasury Yield.

The Dollar Index which traded against a basket of six major currency pairs extend its gains amid rising US Treasury Yields as investors speculated the U.S. Federal Reserve will be contracting its earlier massive bond-buying program next month. The US two-year Treasury note notched up to their highest in more than 18 months. Besides, the soaring energy prices had spurred stagflation risk in future, which stoked a shift in sentiment toward other safe-haven asset such as US Dollar. Nonetheless, the gains experienced by the US Dollar was limited by the bearish economic data from U.S. region. According to Bureau of Labor Statistics, U.S. JOLTs Job Opening came in at 10.439M, missing the market forecast at 10.925M. As of writing, the Dollar Index appreciated by 0.10% to 94.50.

In the commodities market, the crude oil price appreciated by 0.22% to $80.45 per barrel as of writing. The oil market continues to edge higher amid market participants speculated that the easing Covid-19 cases around the world would continue to enhance the crude oil demand in future. On the other hand, the gold price slumped 0.03% to 1760.65 per troy ounces as of writing amid strengthening US 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 was traded higher while currently testing the resistance level at 94.25. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.

Resistance level: 94.40, 94.75

Support level: 93.75, 93.30

GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level at 1.3640. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3550.

Resistance level: 1.3640, 1.3735

Support level: 1.3550, 1.3415

EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1525. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1585, 1.1630

Support level: 1.1525, 1.1455

USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level at 112.30. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 114.00, 115.40

Support level: 112.30, 110.95

AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.7320. MACD which illustrated bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 0.7400, 0.7475

Support level: 0.7320, 0.7235

NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.6925. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 0.6975, 0.7030

Support level: 0.6925, 0.6860

USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2455. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2580, 1.2685

Support level: 1.2455, 1.2310

USDCHF, H4: USDCHF was traded higher while currently testing the resistance level at 0.9305. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.9305, 0.9375

Support level: 0.9230, 0.9155

CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 81.85. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 79.20.

Resistance level: 81.85, 83.05

Support level: 79.20, 76.60

GOLD_, H4: Gold price was traded within a range while currently testing the resistance level at 1768.05. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1768.05, 1780.65

Support level: 1746.00, 1725.50

12 October 2021                Afternoon Session Analysis

Australian dollar rose following positive economic outlook.

The Australian dollar was traded higher against US dollar and other currency pairs amid positive economic prospect. The Australia’s most populous state New South Wales (NSW) has declared to ease its lockdown restriction on Monday after hitting its 70% target of full vaccination for its adult population. Australia called the day as ‘Freedom Day’ while the second most populous state Victoria also declared that it will be set to open in December. The economic reopening in Australia has fueled up market sentiment toward Australian dollar. Besides that, rising commodities price also provide extra boost for the Australia. One of Australia’s main export, iron ore have also seen its price appreciated following higher demand from China as the country’s main ports reopened. As of writing, the pair of AUD/USD was up 0.03% to 0.7339.

In the commodities market, the crude oil price retreat 0.04% to $80.44 per barrel as of writing amid negative signals in the market. According to Reuters, the White House called on OPEC to take further initiatives to curb rising world crude oil prices. The US government also stated that it will monitor oil and gasoline prices and make changes in the market to ensure a stable and efficient crude oil market. On the other hand, the gold price fell 0.02% to $1753.09 per troy ounces amid strengthening US 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 the resistance level 94.35. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the dollar to extend its gains after it breaks above the resistance level 94.35.

Resistance level: 94.35, 94.90

Support level: 93.70, 93.10

GBPUSD, H4: GBPUSD was traded lower following recent retracement from the resistance level 1.3620. MACD which illustrate bearish momentum signal suggest the pair to extend its retracement towards the support level 1.3435.

Resistance level: 1.3620, 1.3745

Support level: 1.3435, 1.3300

EURUSD, H4: EURUSD was traded flat near the support level 1.1515. However, MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 1.1610, 1.1690

Support level: 1.1515, 1.1440

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level 113.40. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the support level 112.60.

Resistance level: 113.40, 113.95

Support level: 112.60, 112.05

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support level 0.7320. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 0.7415, 0.7485

Support level: 0.7320, 0.7235

NZDUSD, H4: NZDUSD was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.6880.

Resistance level: 0.6990, 0.7075

Support level: 0.6880, 0.6805

USDCAD, H4: USDCAD was traded higher following prior rebound from the support level 1.2455. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 1.2585.

Resistance level: 1.2585, 1.2695

Support level: 1.2455, 1.2310

USDCHF, H4: USDCHF remain traded in a sideway channel. Due to lack of momentum and clear direction from MACD, it is suggest to wait until further signal appear before entering the market.

Resistance level: 0.9305, 0.9365

Support level: 0.9240, 0.9185

CrudeOIL, H4: Crude oil was traded lower while currently testing near the support level 79.40. MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the commodity to extend its retracement towards the support level 79.40.

Resistance level: 82.50, 84.55

Support level: 79.40, 76.40

GOLD, H4: Gold price was traded flat near the support level 1747.05. Due to lack of momentum and clear direction from MACD, it is suggested to wait until further signal appear before entering the market.

Resistance level: 1779.50, 1806.85

Support level: 1747.05, 1721.65

12 October 2021                             Morning Session Analysis

Dollar surged on hawkish expectation from Fed.

The Dollar Index which traded against a basket of six major currency pairs surged yesterday amid surging energy prices had spurred stagflation fears in future, which stoked a shift in sentiment toward safe-haven asset such as US Dollar. Besides, the US 10-year Treasury yield hit a four-month high on Friday as market participants speculated that the US Federal Reserve will announce a tapering of its bond purchases next month. Contractionary monetary policy would reduce the money circulation in global financial market, which diminishing the inflation risk while increasing the appeal for the US Dollar. Nonetheless, investors as for now would continue to scrutinize the crucial inflation data from U.S. region this week to receive further trading signal. As of writing, the Dollar Index appreciated by 0.06% to 94.40.

In the commodities market, the crude oil price depreciated by 0.37% to $80.28 per barrel as of writing amid technical correction following its reached recent high. Nonetheless, the overall trend for the crude oil remained bullish amid rapid Covid vaccination program around the world had continued to be spurring positive prospect for the crude oil commodity. On the other hand, the gold price depreciated by 0.16% to $1751.35 per troy ounces amid strengthening US 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 was traded higher while currently testing the resistance level at 94.25. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.

Resistance level: 94.40, 94.75

Support level: 93.75, 93.30

GBPUSD, H4: GBPUSD was traded lower following prior retracement from the resistance level at 1.3640. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3550.

Resistance level: 1.3640, 1.3735

Support level: 1.3550, 1.3415

EURUSD, H4: EURUSD was traded higher following prior retracement from the resistance level at 1.1585. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1525.

Resistance level: 1.1585, 1.1630

Support level: 1.1525, 1.1455

USDJPY, Daily: USDJPY was traded higher following prior breakout above the previous resistance level at 112.30. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 114.00.

Resistance level: 114.00, 115.40

Support level: 112.30, 110.95

AUDUSD, H4: AUDUSD was traded lower while currently testing the support level at 0.7320. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 0.7400, 0.7475

Support level: 0.7320, 0.7235

NZDUSD, H4: NZDUSD was traded lower while currently testing the support level at 0.6925. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 0.6975, 0.7030

Support level: 0.6925, 0.6860

USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2455. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2580, 1.2685

Support level: 1.2455, 1.2310

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level at 0.9305. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9330.

Resistance level: 0.9305, 0.9375

Support level: 0.9230, 0.9155

CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level at 81.85. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 79.20.

Resistance level: 81.85, 83.05

Support level: 79.20, 76.60

GOLD_, H4: Gold price was traded lower while currently testing the support level at 1746.00. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.

Resistance level: 1768.05, 1780.65

Support level: 1746.00, 1725.50

11 October 2021                Afternoon Session Analysis

Pound rose following hawkish signal from BoE.

The pound sterling which traded against the US dollar and other currency pairs have rose following hawkish stance from Bank of England (BoE). According to Bank of England policymaker Michael Saunders, he stated that markets are right to price in an earlier interest-rate hike than previously expected as inflation pressure mounted in the British economy. The recent inflation pressure has fueled market speculation that rate hike to be initiated by February next year. On top of that, pound sterling also receives further support from weak employment data in the U.S. The worse-than-expected US Nonfarm Payrolls data indicated that the U.S labor market remain weak despite with increasing wages, hence prompted investors to shift their portfolio into risker assets. However, the gains may be limited due following the surge of energy prices. UK energy manufacturers have warned that the spiking gas prices could be resulted in production halt. According to Reuters, the wholesale gas prices were 4 times higher in this year due to supply shortage and stronger demand from Asia. The possibility of production halt by energy manufacturers could be exerted damage toward the economy. As of writing, the pair of GBP/USD was up 0.01% to 1.3641.

In the commodities market, the crude oil price surged 1.51% to $80.86 per barrel as of writing amid positive prospect of oil demand. The oil market continues to extend its gains following robust growth of industrial activities in Asia, which reiterated stronger demand of oil. On the other hand, the gold price was up 0.12% to $1759.43 per troy ounces amid weakening US 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

N/A

Technical Analysis

DOLLAR_INDX, H4: Dollar index remain traded in a sideway channel following recent retracement from its high level. However, MACD which illustrate bearish momentum signal with the recent formation of death cross suggest the dollar to extend its retracement towards the support level 93.70.

Resistance level: 94.35, 94.90

Support level: 93.70, 93.10

GBPUSD, H4: GBPUSD was traded higher following prior breakout above the previous resistance level 1.3620. MACD which illustrate bullish bias signal suggest the pair to extend its gains towards the resistance level 1.3745.

Resistance level: 1.3745, 1.3875

Support level: 1.3620, 1.3435

EURUSD, H4: EURUSD was traded higher following recent rebound from its low level. MACD which illustrate bullish bias signal suggest the pair to extend its rebound towards the resistance level 1.1610.

Resistance level: 1.1610, 1.1690

Support level: 1.1515, 1.1440

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level 112.60. MACD which illustrate ongoing bullish momentum signal suggest the pair to extend its gains after it breaks above the resistance level 112.60.

Resistance level: 112.60, 113.20

Support level: 112.05, 111.50

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level 0.7320. MACD which illustrate bullish bias signal suggest the pair to extend its gains after it breaks above the resistance level 0.7320.

Resistance level: 0.7320, 0.7415

Support level: 0.7235, 0.7150

NZDUSD, H4: NZDUSD was traded higher following prior rebound from the support level 0.6915. MACD which illustrate bullish momentum signal suggest the pair to extend its rebound towards the resistance level 0.6990.

Resistance level: 0.6990, 0.7075

Support level: 0.6915, 0.6815

USDCAD, H4: USDCAD was traded lower while currently testing the support level 1.2455. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 1.2585, 1.2695

Support level: 1.2455, 1.2310

USDCHF, H4: USDCHF remain traded in a sideway channel following recent rebound from its low level. However, MACD which illustrate bullish bias signal suggest the pair to extend its rebound in short term towards the resistance level 0.9305.

Resistance level: 0.9305, 0.9365

Support level: 0.9240, 0.9185

CrudeOIL, H4: Crude oil was traded higher following prior breakout above the previous resistance level 79.40. MACD which illustrate persistent bullish momentum signal suggest the commodity to extend its gains towards the resistance level 82.50.

Resistance level: 82.50, 84.55

Support level: 79.40, 76.40

GOLD, H4: Gold price was traded flat near the support level 1747.50. However, MACD which illustrate diminishing bearish momentum signal suggest the commodity to be traded higher towards the resistance level 1779.50.

Resistance level: 1779.50, 1806.85

Support level: 1747.05, 1721.65

11 October 2021                Morning Session Analysis

Dollar was traded flat amid mixed data.

The Dollar Index which traded against a basket of six major currency pairs was traded within a range last week over the backdrop of mixed economic data from United States. According to Bureau of Labor Statistics, U.S. Nonfarm Payrolls notched down significantly from the previous reading of 366K to 194K, missing the market forecast at 500K, which dialing down the market optimism toward the economic progression in the United States. Nonetheless, the losses experienced by the US Dollar was limited amid upbeat unemployment data. U.S. Unemployment Rate declined significantly from the previous reading of 5.2% to 4.8%, much better than the market forecast at 5.1%. Hence, the overall economic outlook from the United States remained vague, investors would continue to scrutinize further crucial economic data to receive further trading signal. As of writing, the Dollar Index appreciated by 0.05% to 94.15.

In the commodities market, the crude oil price extends its gains by 0.35% to $79.95 per barrel as of writing. The oil market edged higher amid global Covid-19 vaccination program continue to diminish fears toward Covid-19 pandemic, which spurring positive prospect toward the market demand on crude oil. On the other hand, the gold price slumped 0.14% to $1755.00 per troy ounces as of writing amid market participants speculated the Federal Reserve might continue to taper its earlier aggressive monetary policy to combat the high inflation risk in future.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

N/A

Today’s Highlight Economic Data

N/A

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher while currently testing the resistance level at 94.25. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.

Resistance level: 94.25, 94.75

Support level: 93.30, 92.05

GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level at 1.3640. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1.3640, 1.3735

Support level: 1.3550, 1.3415

EURUSD, H1: EURUSD was traded higher following prior rebound from the support level at 1.1525. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1585.

Resistance level: 1.1585, 1.1630

Support level: 1.1525, 1.1455

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level at 112.30. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 112.30, 113.20

Support level: 110.95, 110.00

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7320. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 0.7320, 0.7400

Support level: 0.7235, 0.7170

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6935. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.6935, 0.6975

Support level: 0.6860, 0.6815

USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2455. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.2675, 1.2685

Support level: 1.2455, 1.2310

USDCHF, H4: USDCHF was traded lower following prior retracement from the resistance level at 0.9305. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9330.

Resistance level: 0.9305, 0.9375

Support level: 0.9230, 0.9155

CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 80.00. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.

Resistance level: 80.00, 83.05

Support level: 76.60, 74.05

GOLD_, H4: Gold price was traded lower following prior retracement from the resistance level at 1768.05. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 1746.00.

Resistance level: 1768.05, 1780.65

Support level: 1746.00, 1725.50

Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.

08 October 2021                Afternoon Session Analysis

Pound sterling fell following BoE dovish note.

The Pound Sterling was traded lower against US dollar and other currency pairs amid dovish stance from Bank of England (BoE). According to Bank of England Chief Economist Huw Pill, the recent inflation pressure was higher than expected despite Covid-19 receded as well as normalization of global supply and demand. He also expected that Bank of England (BoE) maintained its interest rates at relatively low levels as the economic slumped significantly in year 2020. Besides that, recent surge of fuel prices also exerts further pressure for the pair. According to energy regulator Ofgem, about 12 energy suppliers collapsed within this year while 9 energy suppliers folded in September due to their incapability to cope with the energy prices. Ofgem also warned that more energy suppliers will exit the market given the volatility in the market continued. As of writing, the pair of GBP/USD dropped 0.03% to 1.3613.

In the commodities market, the crude oil price surged 0.10% to $78.80 per barrel as of writing amid oil supply shortage. The oil markets continue to gain after the US Energy Department announced that the agency was not considering release crude oil from the national strategic reserves. On the other hand, the gold price was down 0.01% to $1754.32 per troy ounces amid strengthening US 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 94.35. However, MACD which illustrate bullish bias signal suggest the dollar to be traded higher after it breaks above the resistance level 94.35.

Resistance level: 94.35, 94.90

Support level: 93.70, 93.10

GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level 1.3620. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction towards the support level 1.3435.

Resistance level: 1.3620, 1.3745

Support level: 1.3435, 1.3300

EURUSD, H4: EURUSD was traded lower while currently testing near the support level 1.1515. However, MACD which illustrate bullish momentum signal suggest the pair to be traded higher as a technical correction towards the resistance level 1.1610.

Resistance level: 1.1610, 1.1690

Support level: 1.1515, 1.1440

USDJPY, H4: USDJPY was traded higher while currently testing near the resistance level 112.05. MACD which illustrate bullish momentum signal with the recent formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.

Resistance level: 112.05, 112.60

Support level: 111.50, 110.75

AUDUSD, H4: AUDUSD was traded higher while currently testing near the resistance level 0.7320. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the support level 0.7235.

Resistance level: 0.7320, 0.7415

Support level: 0.7235, 0.7150

NZDUSD, H4: NZDUSD was traded flat near the support level 0.6915. However, MACD which illustrate bullish momentum signal suggest the pair to be traded higher in short term towards the resistance level 0.6990.

Resistance level: 0.6990, 0.7075

Support level: 0.6915, 0.6815

USDCAD, H4: USDCAD was traded lower following recent breakout below the previous support level 1.2585. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 1.2455.

Resistance level: 1.2585, 1.2695

Support level: 1.2455, 1.2310

USDCHF, H4: USDCHF was traded higher following recent rebound from its low level. MACD which illustrate bullish momentum signal suggest the pair to extend its rebound towards the resistance level 0.9310.

Resistance level: 0.9310, 0.9375

Support level: 0.9240, 0.9185

CrudeOIL, H4: Crude oil was traded higher while currently testing the resistance level 79.40. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its gains after it breaks above the resistance level 79.40.

Resistance level: 79.40, 82.50

Support level: 76.40, 74.20

GOLD, H4: Gold price was traded lower following recent retracement from its high level. MACD which illustrate bearish momentum signal suggest the commodity to extend its losses towards the support level 1747.05.

Resistance level: 1779.70, 1806.85

Support level: 1747.05, 1721.65

08 October 2021                Morning Session Analysis

Dollar surged amid bullish data.

The Dollar Index which traded against a basket of six major currency pairs surged over the backdrop of a string of upbeat economic data from U.S. region yesterday. According to Department of Labor, the U.S. Initial Jobless Claims notched down from the previous reading of 364k to 326K, better than the market forecast at 348K, which spurring positive prospect for the economic momentum in the United States. As for now, investors would continue to scrutinize the crucial jobs data which would be released today in order to determine the future monetary policy decision from Federal Reserve. Market participants speculated that the Federal Reserve might begin to start tapering monthly bond purchases as soon as November while increasing their interest rate if the economic growth had recovered significantly. The Nonfarm Payroll data is expected to show continued improvement in the labor market, with a forecast for another 455,000 jobs in September, according to Reuters. As of writing, the Dollar Index appreciated by 0.04% to 94.20.

In the commodities market, the crude oil price appreciated by 0.05% to $78.90 per barrel as of writing. The oil market edged higher due to supply shortage worldwide amid demand recovery for this black-commodity was much quicker than expected following the Covid-19 restrictions were eased. On the other hand, the gold price slumped 0.10% to $1753.70 per troy ounces as of writing amid strengthening US 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 was traded higher while currently testing the resistance level at 94.25. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.

Resistance level: 94.25, 94.75

Support level: 93.70, 93.30

GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level at 1.3640. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1.3640, 1.3735

Support level: 1.3550, 1.3415

EURUSD, H1: EURUSD was traded higher following prior rebound from the support level at 1.1525. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1585.

Resistance level: 1.1585, 1.1630

Support level: 1.1525, 1.1455

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level at 111.75. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 111.75, 112.15

Support level: 110.90, 110.40

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7320. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.7320, 0.7400

Support level: 0.7235, 0.7170

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6935. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.6935, 0.6975

Support level: 0.6860, 0.6815

USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2545. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2635, 1.2690

Support level: 1.2545, 1.2500

USDCHF, H4: USDCHF was traded higher while currently testing the resistance level at 0.9305. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.9305, 0.9375

Support level: 0.9230, 0.9155

CrudeOIL, H4: Crude oil price was traded higher following prior rebound from the support level at 76.60. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 80.25.

Resistance level: 80.25, 83.05

Support level: 76.60, 74.05

GOLD_, H4: Gold price was traded lower following prior retracement from the resistance level at 1768.05. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 1746.00.

Resistance level: 1768.05, 1780.65

Support level: 1746.00, 1725.51

Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.

07 October 2021                Afternoon Session Analysis

Euro surged despite downbeat economic data.

The Euro was traded higher against US dollar despite downbeat economic data. According to Eurostat, Eurozone Retail Sales figures in August came at the reading of 0.3%, lower than the forecasted reading of 0.8%. Likewise, Germany Factory Orders in August eased from the previous reading of 4.9% to -7.7%, lower than the forecasted reading of -2.1%, according to Bundesministerium für Wirtsch. Both data suggested a weaker economic momentum as a result of slower retails sale and industrial production activities. On the other side, the pair of EUR/USD received its bullish momentum amid risk on sentiment. The market sentiment toward risker assets was improved following US Senator Mitch McConnell offered a short-term suspension of the U.S. debt ceiling to avert a national default and economic crisis. As of writing, the pair of EUR/USD surged 0.02% to 1.1554.

In the commodities market, the crude oil price was down 0.08% to $77.17 per barrel as of writing amid bearish oil inventory data. According to Energy Information Administration, U.S. Crude Oil Inventories figures came in at the reading of 2.346M, higher than the forecasted reading of -0.418M. On the other hand, the gold price was up 0.03% to $1763.47 per troy ounces amid weakening US 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 was traded higher while currently testing the resistance level at 94.25. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.

Resistance level: 94.25, 94.75

Support level: 93.70, 93.30

GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level at 1.3605. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1.3665, 1.3735

Support level: 1.3605, 1.3515

EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1525. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.

Resistance level: 1.1585, 1.1675

Support level: 1.1525, 1.1455

USDJPY, H4: USDJPY was traded lower following prior retracement from the resistance level at 111.65. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 110.90.

Resistance level: 111.65, 112.15

Support level: 110.90, 110.40

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7300. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.7300, 0.7400

Support level: 0.7235, 0.7170

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6920. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 0.6920, 0.6975

Support level: 0.6860, 0.6815

USDCAD, H1: USDCAD was traded lower while currently testing the support level at 1.2615. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2615, 1.2690

Support level: 1.2570, 1.2500

USDCHF, H4: USDCHF was traded lower following retracement from the resistance level at 0.9305. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9230.

Resistance level: 0.9305, 0.9375

Support level: 0.9230, 0.9155

CrudeOIL, H4: Crude oil price was traded lower while currently testing the support level at 76.75. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.

Resistance level: 80.25, 83.05

Support level: 76.75, 74.05

GOLD_, H4: Gold price was traded higher following prior rebound from the support level at 1746.00. However, MACD which illustrated increasing bearish momentum suggest the commodity to be traded lower in short-term as technical correction.

Resistance level: 1768.05, 1780.65

Support level: 1746.00, 1725.51

Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.

7 October 2021                Morning Session Analysis

ADP data delivers, US dollar hovers high.

US dollar was broadly higher against other major currencies on Thursday following the release of upbear economic data from the region. For the month of September, ADP Nonfarm Employment Change rose 568K, significantly higher than forecasted reading of 428K. The report shows that hiring within hospitality sector remains resilient as the economy extended its recover after social distancing SOP were removed in the last few months. Following the bullish data from ADP, investors began to speculate a more positive reading from this Friday’s Nonfarm Payrolls report which may encourage Federal Reserve to tighten monetary policy in November. Previously, Fed Chair Jerome Powell comments that the economy has recovered from its last year slump due to coronavirus pandemic. While certain areas remain softer than expected, he emphasizes that a resilient jobs market could warrant for an early execution of tapering within this year. As of writing, the dollar index was up 0.01% to 94.25.

As for commodities market, crude oil price slumped more than 2% on yesterday to $76.85 per barrel. Oil futures experienced large selloff after EIA Crude Oil Inventories shows an increase of 2.35 million barrels vs forecast of -0.42 million barrels. On the other hand, gold price rose 0.04% to $1,763.29 a troy ounce following risk aversion from UK and EU stock market.

Today’s Holiday Market Close

Time                    Market                Event

N/A

Today’s Highlight Events

Time                    Market                Event

19:30                   EUR                     ECB Publishes Account of Monetary Policy Meeting

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower from its previous levels. MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term as technical correction.

Resistance level: 94.60, 95.00

Support level: 94.10, 93.50

GBPUSD, H4: GBPUSD was traded higher from its lower levels. MACD which illustrate diminished downward momentum suggests the pair to extend its gains after closing above 1.3590.

Resistance level: 1.3590, 1.3645

Support level: 1.3520, 1.3410

EURUSD, H1: EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.

Resistance level: 1.1565, 1.1590

Support level: 1.1535, 1.1500

USDJPY, H1: USDJPY was traded lower following prior retrace from its higher levels. MACD which illustrate increasing downward momentum suggests the pair to extend its losses after closing below 111.25.

Resistance level: 111.50, 111.85

Support level: 111.25, 111.00

AUDUSD, H4: AUDUSD was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher towards the direction of 0.7300.

Resistance level: 0.7300, 0.7335

Support level: 0.7260, 0.7190

NZDUSD, H1: NZDUSD was traded higher while currently testing at the resistance of 0.6915. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the resistance level.

Resistance level: 0.6915, 0.6940

Support level: 0.6885, 0.6860

USDCAD, H4: USDCAD was traded lower following prior closure below 1.2590. MACD which illustrate diminished upward momentum suggests the pair to extend its losses in short-term.

Resistance level: 1.2590, 1.2650

Support level: 1.2530, 1.2490

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

Resistance level: 0.9275, 0.9325

Support level: 0.9235, 0.9200

CrudeOIL, H1: Crude oil price was traded higher following prior rebound near 76.70. MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term.

Resistance level: 77.40, 78.30

Support level: 76.70, 76.00

GOLD_, H4: Gold price continues to be traded within a sideways channel. However, MACD which begins to form bullish signal suggests gold price to extend its gains after closing above 1764.30.

Resistance level: 1764.30, 1777.60

Support level: 1747.90, 1732.60

6 October 2021                  Afternoon Session Analysis

Australian dollar rose despite RBA dovish stance.

The Australian dollar which traded against the US dollar and other currency pairs have rose despite with dovish statement from Reserve Bank of Australia (RBA). The RBA has announced its decision to maintain interest rate at 0.1% while holding its purchases of bonds at $4 billion a week until mid-February next year. According to Reserve Bank of Australia (RBA) governor Philip Lowe, he stated that both wage and price pressures across the country are expected to be remained subdued despite improvement in job market after the end of lockdown restriction in the region. He also added that the rate hike will be made by Reserve Bank of Australia (RBA) once the actual inflation is sustainably within the 2 to 3% target range. Nevertheless, the Aussie remain supported by upbeat economic data. According to Australian Bureau of Statistics, Australia Retail Sales figure in August matching with the forecasted reading of -1.7%. The data suggested a higher consumer spending due to the surge of online sales for non-food retailing. As of writing, the pair of AUD/USD rose 0.02% to 0.7286.

In the commodities market, the crude oil price surged 0.08% to $79.01 per barrel as of writing amid rising global demand of oil. Oil market continue to extended its gains following the economic reopening in Europe and Asia which is expected to increase oil demand for electricity generation. On the other hand, the gold price was down 0.03% to $1758.63 per troy ounces amid strengthening US 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 was traded higher following prior rebound from the support level 93.70. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its rebound towards the resistance level 94.35.

Resistance level: 94.35, 94.90

Support level: 93.70, 93.10

GBPUSD, H4: GBPUSD was traded lower while currently testing the support level 1.3605. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level 1.3605.

Resistance level: 1.3745, 1.3875

Support level: 1.3605, 1.3435

EURUSD, H4: EURUSD was traded lower following prior breakout below the previous support level 1.1610. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses towards the support level 1.1515.

Resistance level: 1.1610, 1.1690

Support level: 1.1515, 1.1440

USDJPY, H4: USDJPY was traded higher following prior breakout above the previous resistance level 111.50. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains towards the resistance level 112.15.

Resistance level: 112.15, 112.60

Support level: 111.50, 110.75

AUDUSD, H4: AUDUSD was traded lower while currently testing near the support level 0.7335. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 0.7335, 0.7415

Support level: 0.7235, 0.7150

NZDUSD, H4: NZDUSD was traded lower while currently testing near the support level 0.6915. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level 0.6915.

Resistance level: 0.6990, 0.7075

Support level: 0.6915, 0.6815

USDCAD, H4: USDCAD was traded higher following prior rebound from the support level 1.2585. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.2695.

Resistance level: 1.2695, 1.2770

Support level: 1.2585, 1.2510

USDCHF, H4: USDCHF was traded higher following recent rebound from the support level 0.9240. MACD which illustrate diminishing bearish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.9310.

Resistance level: 0.9310, 0.9375

Support level: 0.9240, 0.9185

CrudeOIL, H4: Crude oil was traded higher while currently testing near the resistance level 79.40. However, MACD which illustrate diminishing bullish momentum signal suggest the commodity to be traded lower as a technical correction towards the support level 76.40.

Resistance level: 79.40, 82.50

Support level: 76.40, 74.20

GOLD, H4: Gold price was traded lower while currently testing near the support level 1747.05. MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to extend its losses after it breaks below the support level.

Resistance level: 1779.70, 1806.85

Support level: 1747.05, 1721.65

06 October 2021                Morning Session Analysis

Dollar surged amid bullish data.

The Dollar Index which traded against a basket of six major currency pairs surged over the backdrop of upbeat economic data from the United States region yesterday. According to Institute for Supply Management, U.S. ISM Non-Manufacturing Purchasing Managers Index (PMI) notched up significantly from the previous reading of 61.7 to 61.9, exceeding the market forecast at 60.0, which spurring positive prospect toward the economic momentum in the United States. Nonetheless, the overall movement for the US Dollar was remained subdued as market participants are still waiting for crucial job data from US region before entering the market. The Friday’s Non-farm Payroll data is expected to show continued improvement in the labor market, with a forecast of 488,000 jobs would be added in September, according to Reuters. As for now, investors would continue to scrutinize the latest updates with regards of future economic data as well as monetary policy statement from Fed to gauge the likelihood movement for the US Dollar. As of writing, the Dollar Index appreciated by 0.21% to 94.00.

In the commodities market, the crude oil price slumped 0.05% to 79.15 per barrel as of writing following the bearish inventory data was released. According to American Petroleum Institute, U.S. API Weekly Crude Oil Stock came in at 0.951M, exceeding the market forecast at -0.300M. On the other hand, the gold price slumped 0.05% to $1759.35 per troy ounces as of writing amid strengthening US 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 was traded lower following prior retracement from the resistance level at 94.25. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.

Resistance level: 94.25, 94.75

Support level: 93.30, 91.80

GBPUSD, H4: GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3605. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 1.3665, 1.3735

Support level: 1.3605, 1.3515

EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1595. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1675, 1.1740

Support level: 1.1585, 1.1525

USDJPY, H4: USDJPY was traded higher while currently testing the resistance level at 111.55. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 111.55, 112.15

Support level: 111.10, 110.40

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7300. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 0.7300, 0.7400

Support level: 0.7235, 0.7170

NZDUSD, H4: NZDUSD was traded lower following prior retracement from the resistance level at 0.6975. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6920.

Resistance level: 0.6975, 0.7030

Support level: 0.6920, 0.6860

USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2615. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2615, 1.2690

Support level: 1.2570, 1.2500

USDCHF, H4: USDCHF was traded higher following prior rebound from the support level at 0.9230. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.9305.

Resistance level: 0.9305, 0.9375

Support level: 0.9230, 0.9155

CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level at 76.75. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.

Resistance level: 80.25, 83.05

Support level: 76.75, 74.05

GOLD_, H1: Gold price was traded higher following prior rebound from the support level at 1746.00. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.

Resistance level: 1768.05, 1780.65

Support level: 1746.00, 1725.51

Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.

5 October 2021                  Afternoon Session Analysis

Euro slips amid dovish stance from ECB.

The Euro which traded against the dollar and other currency pair remain pressured and fell following recent dovish statement from ECB. According to President of the European Central Bank, Christine Lagarde, she claimed that Eurozone was facing huge structural labor issues. More than one third proportion of unemployed people in Germany and France were out of work for at least 12 months. As a result, European Central Bank (ECB) emphasized to maintain its loose monetary policy through Pandemic Emergency Purchase Program (PEPP). On the other hand, recent hawkish statement from Fed is expected to continue provide support for the dollar, which at the same time diminishing the appeal for the Euro. The Fed has sent a clear signal that it will announce QE tapering plans “soon” which most likely means at their next meeting on 3rd November. On the other hand, EUR/USD fell 0.15% to $1.1602.

In the commodities market, crude oil price rose 0.10% to $77.54 per barrel as of writing following news of oil spill in California. According to Reuters, about 3,000 barrels of oil had been spilled into the Pacific Ocean from a pipeline connected to an offshore facility owned by a unit of Amplify Energy Corp. On the other hand, the gold price was up 0.05% to $1767.37 per troy ounces amid weakening US dollar.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

11:30                       AUD                     RBA Rate Statement

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded higher following prior rebound from the support level 93.70. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its rebound towards the resistance level 94.35.

Resistance level: 94.35, 94.90

Support level: 93.70, 93.10

GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level 1.3605. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the support level 1.3605.

Resistance level: 1.3605, 1.3745

Support level: 1.3435, 1.3300

EURUSD, H4: EURUSD was traded lower following prior retracement from the resistance level 1.1610. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses towards the support level 1.1515.

Resistance level: 1.1610, 1.1690

Support level: 1.1515, 1.1440

USDJPY, H4: USDJPY was traded higher following prior rebound from the support level 110.75. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 111.50.

Resistance level: 111.50, 112.15

Support level: 110.75, 110.05

AUDUSD, H4: AUDUSD was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.7235.

Resistance level: 0.7335, 0.7415

Support level: 0.7235, 0.7150

NZDUSD, H4: NZDUSD was traded lower while currently testing near the support level 0.6915. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 0.6990, 0.7075

Support level: 0.6915, 0.6815

USDCAD, H4: USDCAD was traded higher following prior rebound from the support level 1.2585. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its rebound towards the resistance level 1.2695.

Resistance level: 1.2695, 1.2770

Support level: 1.2585, 1.2510

USDCHF, H4: USDCHF was traded higher following prior rebound from the support level 0.9240. MACD illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 0.9310.

Resistance level: 0.9310, 0.9375

Support level: 0.9240, 0.9185

CrudeOIL, H4: Crude oil was traded higher while currently testing near the resistance level 78.75. MACD which illustrate bullish momentum signal suggest the commodity to extend its gains after it breaks above the resistance level.

Resistance level: 78.75, 80.45

Support level: 76.40, 74.20

GOLD, H4: Gold price was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its retracement towards the support level 1747.05.

Resistance level: 1779.70, 1806.85

Support level: 1747.05, 1721.65

05 October 2021                Morning Session Analysis

Dollar slumped ahead of NFP.

The Dollar Index which traded against a basket of six major currency pairs retraced from its 1 year high ahead of crucial Nonfarm Payroll data amid investors shifted their portfolio from US Dollar to avoid huge fluctuation. According to Reuters, the Nonfarm Payroll is expected to show continued improvement in US job market, with expectation for 488,000 new jobs to be added in September. Better-than-expected data would increase the probability for the Federal Reserve to reduce its monthly bond purchases as soon as November and also increase their interest rate to combat high inflation risk in short-term basis. Despite that, the overall movement for the US Dollar remained subdued due to lack of catalyst. Hence, as for now investors would be suggested to continue scrutinize the latest updates with regards of further crucial economic data as well as monetary policy decision from Federal Reserve to gauge the likelihood movement for the US Dollar. As of writing, the Dollar Index appreciated by 0.06% to 93.85.

In the commodities market, the crude oil price appreciated by 0.12% to 77.85 per barrel as of writing. The oil market edged higher amid rapid process of Covid-19 vaccination program around the world continue to spur positive prospect toward the demand outlook for this black-commodity. On the other hand, the gold price surged 0.10% to $1767.45 per troy ounces as of writing amid weakening US Dollar.

Today’s Holiday Market Close

Time                       Market                  Event

N/A

Today’s Highlight Events

Time                       Market                  Event

11:30                       AUD                      RBA Rate Statement

Today’s Highlight Economic Data

Technical Analysis

DOLLAR_INDX, Daily: Dollar index was traded lower following prior retracement from the resistance level at 94.25. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward support level at 93.30.

Resistance level: 94.25, 94.75

Support level: 93.30, 91.80

GBPUSD, H4: GBPUSD was traded higher while currently testing the resistance level at 1.3605. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.

Resistance level: 1.3605, 1.3665

Support level: 1.3515, 1.3415

EURUSD, H4: EURUSD was traded lower while currently testing the support level at 1.1595. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.

Resistance level: 1.1675, 1.1740

Support level: 1.1585, 1.1525

USDJPY, H4: USDJPY was traded lower following prior breakout below the previous support level at 111.10. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 111.10, 111.55

Support level: 110.40, 109.65

AUDUSD, H4: AUDUSD was traded higher while currently testing the resistance level at 0.7300. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 0.7300, 0.7400

Support level: 0.7235, 0.7170

NZDUSD, H4: NZDUSD was traded higher while currently testing the resistance level at 0.6975. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.

Resistance level: 0.6975, 0.7030

Support level: 0.6920, 0.6860

USDCAD, H4: USDCAD was traded lower while currently testing the support level at 1.2615. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 1.2615, 1.2690

Support level: 1.2570, 1.2500

USDCHF, H4: USDCHF was traded lower while currently testing the support level at 0.9230. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.

Resistance level: 0.9375, 0.9440

Support level: 0.9305, 0.9230

CrudeOIL, H4: Crude oil price was traded higher following prior breakout above the previous resistance level at 76.75. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.

Resistance level: 80.25, 83.05

Support level: 76.75, 74.05

GOLD_, H4: Gold price was traded higher while currently testing the support level at 1764.10. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.

Resistance level: 1768.05, 1780.65

Support level: 1746.00, 1725.51

Risk Statement:
Forex, Gold, Crude Oil, Commodities, CFD and all other margin trading investment products involve high level of risk and may not be suitable for all investors. Your previous investment success in stock, futures or any other investment achieved does not mean that all your future investment will obtain the same results. You should carefully consider your investment objectives; risk associated and seek professional advice before deciding to trade or if you have any doubts.

4 October 2021                  Afternoon Session Analysis

Pound sterling rose amid upbeat economic data.

The pound sterling which traded against the dollar and other currency pairs have rose following recent upbeat economic data from the U.K. According to Markit, U.K Manufacturing PMI in September came in at 57.1, surpassed market expectation of 56.3. Most investors gave negative expectations for the data as the UK experienced a Brexit crisis that included a shortage of raw materials, commodities and difficulties in hiring new workers that are likely to hurt the manufacturing sector in the UK. However, the data proves that the manufacturing production continue to expand despite the latter but on a slower pace. Despite that, the gains may be limited due to ignorance of British Prime Minister Boris Johnson to ease the immigration restrictions to solve the recent fuel and food crisis caused by truck driver shortage. According to Reuters, British Prime Minister Boris Johnson emphasized that he would not open the taps of immigration in order to push the wage growth in the region and increase the employment of domestic workers. At the time of writing, GBP/USD rose 0.03% to 1.3536.

In the commodities market, crude oil price retreat 0.25% to $75.52 at the time of writing while market awaits on latest OPEC meeting. Several countries are pressuring the cartel to increase production and lower prices as fuel demand continues to recover. Producers are considering adding more supply than laid out in the OPEC+ deal, OPEC sources told Reuters. However, any increase will take effect from November as October’s volumes were already decided at the last OPEC+ meeting in September. On the other hand, gold price rose 0.08% to $1759.05 a troy ounce as of writing amid dollar 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

N/A

Technical Analysis

DOLLAR_INDX, H4: Dollar index was traded lower following recent retracement from the resistance level 94.35. MACD which illustrate bearish momentum signal with the recent formation of death cross suggest the dollar to extend its losses towards the support level 93.70.

Resistance level: 94.35, 94.90

Support level: 93.70, 93.10

GBPUSD, H4: GBPUSD was traded lower following recent retracement from the resistance level 1.3605. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement from the resistance level 1.3605.

Resistance level: 1.3605, 1.3745

Support level: 1.3435, 1.3300

EURUSD, H4: EURUSD was traded flat while currently testing the resistance level 1.1600. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its gains after it breaks above the resistance level.

Resistance level: 1.1600, 1.1690

Support level: 1.1515, 1.1440

USDJPY, H4: USDJPY was traded lower while currently testing near the support level 110.75. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction towards the resistance level 111.50.

Resistance level: 111.50, 112.15

Support level: 110.75, 110.05

AUDUSD, H4: AUDUSD was traded higher following prior breakout above the previous resistance level 0.7235. MACD which illustrate bullish bias signal suggest the pair to extend its gains towards the resistance level 0.7335.

Resistance level: 0.7335, 0.7415

Support level: 0.7235, 0.7150

NZDUSD, H4: NZDUSD was traded higher following prior breakout above the previous resistance level 0.6915. MACD which illustrate bullish momentum signal suggest the pair to extend its gains towards the resistance level 0.6990.

Resistance level: 0.6990, 0.7075

Support level: 0.6915, 0.6815

USDCAD, H4: USDCAD was traded lower while currently testing near the support level 1.2585. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it breaks below the support level.

Resistance level: 1.2695, 1.2770

Support level: 1.2585, 1.2510

USDCHF, H4: USDCHF was traded lower following recent breakout below the previous support level 0.9310. MACD which illustrate bearish momentum signal suggest the pair to extend its losses towards the support level 0.9240.

Resistance level: 0.9310, 0.9375

Support level: 0.9240, 0.9185

CrudeOIL, H4: Crude oil was traded higher while currently testing near the resistance level 76.40. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its gains after it breaks above the resistance level.

Resistance level: 76.40, 78.75

Support level: 74.20, 72.45

GOLD, H4: Gold price was traded higher following recent rebound from the support level 1747.05. MACD which illustrate bullish bias signal suggest the commodity to extend its gains towards the resistance level 1779.70.

Resistance level: 1779.70, 1806.85

Support level: 1747.05, 1721.65