{"id":107471,"date":"2020-03-23T01:23:15","date_gmt":"2020-03-23T01:23:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=107471"},"modified":"2020-03-23T01:23:15","modified_gmt":"2020-03-23T01:23:15","slug":"230320-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/230320-morning-session-analysis\/","title":{"rendered":"230320 Morning Session Analysis"},"content":{"rendered":"

23 March 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Greenback plummets following <\/strong>a stimulus plan failed to pass.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies failed to keep its last Friday gains after a Covid-19 Bill fails to clear the first level of procedural in Senate. Last week, US government worked tight with Federal Reserve in the issue of coronavirus pandemic, and eventually drafted out a massive stimulus package to boost up the US economy from the negative effect of this virus. In details, this stimulus plan consists of $1,200 checks for most U.S adults and a huge amount of fund planned to put aside to assist the local businesses which have halted their operation during the pandemic\u2019s outbreak. Nonetheless, this plan was mostly rejected by the Democrats as they think that the motions deems to be revised, putting the vote results into 47 against 47. However, US President Donald Trump believe that the lawmakers would reach a deal somehow, revealed in a press briefing after the vote. During Asian trading session, dollar index dropped by 0.01% to 102.80. On the other hand, the pair of EUR\/USD notched down 0.19% to 1.0670 amid the worsening spread of coronavirus in Europe zone. According to the latest source of news, Italy has implemented movement constrain in the country after the fatalities rose by 651 to a total of 5476, as an attempt to combat the fast spreading of virus.<\/p>\n

 <\/p>\n

In the commodities market, crude oil prices depreciated by 9.18% to a barrel of $21.10 following few largest economy bodies ordered a lockdown in their country in order to restrict the negative effect of pandemic, putting the prospect of oil\u2019s demand in \u2018dark zone\u2019. Besides, gold price inched down by 0.33% to 1,493.20 a troy ounce after US stock futures limit down lately, as markets threw off their gold\u2019s holding to avoid the risk of margin call.<\/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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 103.75. MACD which illustrate diminishing bullish momentum suggest the dollar to extend its losses toward the support level at 102.90.<\/p>\n

 <\/p>\n

Resistance level: 103.75, 105.00<\/p>\n

Support level: 102.89, 101.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound near the support level at 1.1545. MACD which illustrate diminishing bearish momentum suggest the pair to be traded higher toward the resistance level at 1.1760.<\/p>\n

 <\/p>\n

Resistance level: 1.1760, 1.1900<\/p>\n

Support level: 1.1545, 1.1440<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound form the support level at 1.0650 MACD which illustrate bullish bias momentum suggests the pair to extend its gains toward the resistance level at 1.0715.<\/p>\n

 <\/p>\n

Resistance level: 1.0715, 1.0790<\/p>\n

Support level: 1.0650, 1.0560<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 111.15. MACD which illustrate bearish momentum signal suggests the pair to be extend its losses toward the support level at 110.05.<\/p>\n

 <\/p>\n

Resistance level: 111.15, 112.25<\/p>\n

Support level: 110.05, 109.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.5985. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.5660.<\/p>\n

 <\/p>\n

Resistance level: 0.5985, 0.6350<\/p>\n

Support level: 0.5660, 0.5375<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.5595. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.5865.<\/p>\n

 <\/p>\n

Resistance level: 0.5865, 0.6075<\/p>\n

Support level: 0.5595, 0.5420<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the higher level. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.4325.<\/p>\n

 <\/p>\n

Resistance level: 1.4520, 1.4605<\/p>\n

Support level: 1.4325, 1.4150<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9840. MACD which illustrate bearish momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 0.9840.<\/p>\n

 <\/p>\n

Resistance level: 0.9905, 0.9975<\/p>\n

Support level: 0.9840, 0.9785<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 21.50. However, MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the commodity to undergo technical correction toward the support level at 21.50.<\/p>\n

 <\/p>\n

Resistance level: 25.75, 30.50<\/p>\n

Support level: 21.50, 19.10<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the support level at 1477.00. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains toward the resistance level at 1503.40.<\/p>\n

 <\/p>\n

Resistance level: 1503.40, 1536.95<\/p>\n

Support level: 1477.00, 1442.30<\/p>\n","protected":false},"excerpt":{"rendered":"

23 March 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Greenback plummets following a stimulus plan failed to pass. Dollar index which gauge its value against a basket of six major currencies failed to keep its last Friday gains after a Covid-19 Bill fails to clear the first level of procedural in Senate. Last week, US government worked […]<\/p>\n","protected":false},"author":54,"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\/107471"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=107471"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/107471\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=107471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=107471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=107471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}