{"id":103184,"date":"2020-02-25T01:02:22","date_gmt":"2020-02-25T01:02:22","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=103184"},"modified":"2020-02-25T01:02:22","modified_gmt":"2020-02-25T01:02:22","slug":"250220-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250220-morning-session-analysis\/","title":{"rendered":"250220 Morning Session Analysis"},"content":{"rendered":"

25 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

Japanese Yen skyrocketed amid escalating risk of coronavirus.<\/strong><\/span><\/p>\n

Japanese Yen surged on yesterday amid to the fears upon the outbreak of coronavirus in the global world, which spurring some risk-off sentiment in the FX market while prompting the investors to shift their portfolio toward the safe-haven currencies such as Japanese Yen. According to CNBC, The World Health Organization (WHO) warned that the significant increase in new cases of coronavirus outside of China is \u201cdeeply concerning,\u201d following a rise in infections of coronavirus in Italy, South Korea and Iran. Italy reported more than 220 cases of the virus, with five deaths as of Monday morning. Besides that, South Korea confirmed 231 cases, increasing the total in the country to more than 830. Meanwhile, Iran confirmed 61 total cases with 12 deaths nationwide. On the other hand, dollar index slumped as investors speculated that the Federal Reserve could deliver a rate cut sooner rather than later to cushion the impact form the coronavirus outbreak. However, at this time investors would still have to scrutinize the latest updates with regards of the development of the coronavirus as well as the economy data in order to receive further trading signals. As of writing, USD\/JPY surged 0.09% to 110.80 while Dollar index appreciated by 0.03% to 99.15.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.37% to $51.50 per barrels. However, the oil market edged lower yesterday amid as investors fears that the outbreak of the coronavirus would damage the oil demand in the future. On the other hand, gold price surged on yesterday amid diminishing risk appetite sentiment. However, the gold price slumped 0.27% to $1655.15 per troy ounces as of writing due to the technical correction.<\/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\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 German GDP (QoQ) (Q4)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 CB Consumer Confidence (Feb)<\/td>\n131.6<\/td>\n132.0<\/td>\n–<\/td>\n<\/tr>\n
05:30<\/p>\n

(26th)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n4.200M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4<\/strong>\uff1a<\/strong>Dollar index was traded lower while currently testing the support level at 99.05. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 99.80, 100.45<\/p>\n

Support level: 99.05, 98.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.2965. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 1.2870.<\/p>\n

 <\/p>\n

Resistance level: 1.2965, 1.3055<\/p>\n

Support level: 1.2870, 1.2775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.0780. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.0900.<\/p>\n

 <\/p>\n

Resistance level: 1.0900, 1.1005<\/p>\n

Support level: 1.0780, 1.0655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 112.20. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 109.95.<\/p>\n

 <\/p>\n

Resistance level: 112.20, 113.60<\/p>\n

Support level: 109.95, 108.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6720. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6480.<\/p>\n

 <\/p>\n

Resistance level: 0.6720, 0.6915<\/p>\n

Support level: 0.6480, 0.6285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6350. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6305.<\/p>\n

 <\/p>\n

Resistance level: 0.6350, 0.6400<\/p>\n

Support level: 0.6305, 0.6255<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3215. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.3315.<\/p>\n

 <\/p>\n

Resistance level: 1.3315, 1.3425<\/p>\n

Support level: 1.3215, 1.3135<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9780. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9840, 0.9900<\/p>\n

Support level: 0.9780, 0.9750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 51.25. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 53.05, 55.75<\/p>\n

Support level: 51.25, 49.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1673.60. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1591.25.<\/p>\n

 <\/p>\n

Resistance level: 1673.60, 1708.95<\/p>\n

Support level: 1591.25, 1522.60<\/p>\n

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

25 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 Japanese Yen skyrocketed amid escalating risk of coronavirus. Japanese Yen surged on yesterday amid to the fears upon the outbreak of coronavirus in the global world, which spurring some risk-off sentiment in the FX market while prompting the investors to shift their portfolio toward the safe-haven currencies such as […]<\/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\/103184"}],"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=103184"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/103184\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=103184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=103184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=103184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}