{"id":100844,"date":"2020-02-10T00:46:03","date_gmt":"2020-02-10T00:46:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=100844"},"modified":"2020-02-10T00:46:03","modified_gmt":"2020-02-10T00:46:03","slug":"100220-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100220-morning-session-analysis\/","title":{"rendered":"100220 Morning Session Analysis"},"content":{"rendered":"

10 February 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

Dollar index surged amid to positive NFP data.<\/strong><\/span><\/p>\n

Dollar index skyrocketed on last Friday following the positive jobs data from the U.S. were released. According to Bureau of Labor Statistics, U.S. Nonfarm Payrolls increased from the preliminary reading of 147K to 225K, exceeding the economist forecast at 160K while indicating the jobs market in the U.S. remained stable and diminishing for the expectation upon the further rate cut in future. In fact, US Dollar received further bullish momentum amid to risk-off sentiment in the FX market due to the fears upon the coronavirus. According to Reuters, the coronavirus outbreak had so far killed 811 people on Sunday, exceeding the number killed globally by the SARS epidemic. Besides that, large number of workplaces and schools will remain closed and many white-collar employees from China will work from home. Investors expected that such virus could be potentially destroyed the world economy growth, which prompting them to shift their portfolio toward safe-haven asset such as the US Dollar. However, the gains experienced by the dollar index was limited following the U.S. unemployment rate notched down from the previous reading of 3.5% to 3.6%, worse than the economist forecast at 3.5%, while dialing down the market optimism towards economic progression in the United Stated. As of writing, dollar index appreciated by 0.02% to 98.53.<\/p>\n

 <\/p>\n

In the commodity market, the crude oil slumped 1.37% to $49.63 per barrel. The oil market edged lower yesterday as the investors worried that the outbreak of the coronavirus could be decreasing the future demand for this black-commodity. On the other hand, the gold price appreciated by 0.41% to $1576.89 per troy ounces amid diminishing risk appetite in the FX market.<\/p>\n

 <\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher while currently testing the resistance level at 98.55. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 98.55, 99.00<\/p>\n

Support level: 98.20, 97.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2915. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2915, 1.2990<\/p>\n

Support level: 1.2815, 1.2735<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following while currently testing the support level at 1.0935. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.0970, 1.1010<\/p>\n

Support level: 1.0935, 1.0890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level at 109.60. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 110.20, 110.65<\/p>\n

Support level: 109.60, 109.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6665. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6705, 0.6760<\/p>\n

Support level: 0.6665, 0.6630<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6435. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6435, 0.6535<\/p>\n

Support level: 0.6345, 0.6280<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher while currently near the resistance level at 1.3330. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3320, 1.3395<\/p>\n

Support level: 1.3245, 1.3185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was lower following prior retracement from the resistance level at 0.9770. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9750.<\/p>\n

 <\/p>\n

Resistance level: 0.9780, 0.9810<\/p>\n

Support level: 0.9750, 0.9715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower while currently testing the support level at 49.65. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 50.65, 51.40<\/p>\n

Support level: 49.65, 48.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher while currently testing the resistance level at 1575.30. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1575.30, 1579.45<\/p>\n

Support level: 1571.20, 1564.30<\/p>\n

\u00a0<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

10 February 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis Dollar index surged amid to positive NFP data. Dollar index skyrocketed on last Friday following the positive jobs data from the U.S. were released. According to Bureau of Labor Statistics, U.S. Nonfarm Payrolls increased from the preliminary reading of 147K to 225K, exceeding the economist forecast at 160K while […]<\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/100844"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=100844"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/100844\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=100844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=100844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=100844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}