{"id":116665,"date":"2020-05-03T23:59:48","date_gmt":"2020-05-03T23:59:48","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=116665"},"modified":"2020-05-04T00:30:33","modified_gmt":"2020-05-04T00:30:33","slug":"040520-analisis-sesi-pagi","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040520-analisis-sesi-pagi\/","title":{"rendered":"040520 Morning Session Analysis"},"content":{"rendered":"

4 May 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 Morning Session Analysis<\/strong><\/p>\n

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D<\/strong>ollar seesawed amid market mixed sentiment.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies was traded up and down, having a mixed pattern before entering into weekend amid recent economic data painted a mixed picture over the health of economy. Late last week, dollar index received huge sell off pressure after US recorded another week of high unemployment benefit filing which shown by the Initial Jobless Claims data. In details, US labour market remained weak amid fallout of Covid-19 continues haunting the entire nation economy performance, prompting near to 4 million of US citizen to claim unemployment insurance during last week. Besides, senior official of Federal Reserve also revealed that the unemployment rate of US may shoot up to 20% in a short time frame while the GDP may also contracts near 30% in this year. These dovish statements and a series of bleak economic data given a shade to dollar, less likely to escape from risk from weakening at the moment. However, the losses of dollar were limited following the release of upbeat economic data from manufacturing sector. According to Institute of Supply Management, its Manufacturing PMI data came in at 41.5, blowing the estimates of economist at 36.9, hinting amplitude of economy slump in US is lighter and softer than the market believes. As of writing, dollar index up 0.14% to 99.20.<\/p>\n

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In the commodities market, crude oil price depreciates 5.43% to $18.65 per barrel despite OPEC and its allies have begun their oil cut starting from this week to tackle the supply glut which due to the crisis of Coronavirus. As of now, markets are still concerned over the spread of virus and the progress of drug on curing the virus to gauge the prospect of this black commodity market. Besides, gold price down by 0.33% to $1694.75 a troy ounce due to strengthening of dollar.<\/p>\n

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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

All Day \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Greenery Day<\/p>\n

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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

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Manufacturing PMI (Apr)<\/td>\n45.4<\/td>\n34.4<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 99.75. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 98.30.<\/p>\n

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Resistance level: 99.75, 100.85<\/p>\n

Support level: 98.30, 97.60<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2520. MACD which illustrate bearish momentum signal suggest the pair to be traded lower toward the support level at 1.2435.<\/p>\n

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Resistance level: 1.2520, 1.2620<\/p>\n

Support level: 1.2435, 1.2370<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement near the resistance level at 1.1025. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.0940.<\/p>\n

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Resistance level: 1.1025, 1.1115<\/p>\n

Support level: 1.0940, 1.0830<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 107.20. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses toward the support level at 106.25.<\/p>\n

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Resistance level: 107.20, 108.20<\/p>\n

Support level: 106.25, 104.50<\/p>\n

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AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level at 0.6460. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6180.<\/p>\n

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Resistance level: 0.6460, 0.6705<\/p>\n

Support level: 0.6780, 0.5975<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6055. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 0.5995.<\/p>\n

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Resistance level: 0.6055, 0.6120<\/p>\n

Support level: 0.5995, 0.5945<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.4120. MACD which illustrate bullish bias momentum suggests the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

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Resistance level: 1.4120, 1.4240<\/p>\n

Support level: 1.3980, 1.3855<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from near the support level at 0.9585. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound toward the resistance level at 0.9660.<\/p>\n

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Resistance level: 0.9660, 0.9710<\/p>\n

Support level: 0.9585, 0.9510<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the higher level. MACD which illustrate diminishing bullish momentum suggest the commodity to extend its losses toward the support level at 18.05.<\/p>\n

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Resistance level: 21.80, 25.85<\/p>\n

Support level: 18.05, 15.70<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1699.75. MACD which illustrate bearish momentum signal suggest the commodity to be traded lower toward the support level at 1683.50.<\/p>\n

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Resistance level: 1699.75, 1711.25<\/p>\n

Support level: 1683.50, 1666.25<\/p>\n","protected":false},"excerpt":{"rendered":"

4 May 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 Morning Session Analysis   Dollar seesawed amid market mixed sentiment. Dollar index which gauge its value against a basket of six major currencies was traded up and down, having a mixed pattern before entering into weekend amid recent economic data painted a mixed picture over the health of economy. Late last week, […]<\/p>\n","protected":false},"author":25,"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\/116665"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=116665"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/116665\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=116665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=116665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=116665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}