{"id":125254,"date":"2020-06-08T23:54:00","date_gmt":"2020-06-08T23:54:00","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=125254"},"modified":"2020-06-08T23:54:00","modified_gmt":"2020-06-08T23:54:00","slug":"090620-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090620-morning-session-analysis\/","title":{"rendered":"090620 Morning Session Analysis"},"content":{"rendered":"

9 June 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar sinks as lockdown measures eased.<\/strong><\/span><\/p>\n

Dollar index which gauges its value against a basket of six major currencies hovered near the recent low level as market confidence toward the riskier asset surged after lockdown eased. Amidst the fast spreading of virus in last few month, it had took across the globe government opted to implement aggressive lockdown restriction to combat the spread of virus across the country. While curtailing the transmission of virus, lockdown measures has been hammered the global economy significantly, economy fell into recession as the economic activity wholly halted during this period. Nonetheless, there is getting more countries started to tweak their lockdown measures which allowed businesses back to familiar operation routine after the outbreak has showed some sign of eased. However, the backdrop of upbeat employment data is still underpinning the dollar index, while market participants are still keeping their eyes on upcoming event such as Fed Meeting. As of writing, dollar index dropped 0.24% to 96.70.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciates by 0.86% to $38.50 per barrel as this black commodity market remain scented after OPEC and its allies agreed to extend its cut production\u2019s plan till end of July. Besides, the sign of virus-easing has also lifted the appeal of oil product as market hopes over the recovery of demand surged. Besides, gold price notched up 0.02% to $1698.70 a troy ounce due to weakening of US dollar.<\/p>\n

 <\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Apr)<\/td>\n6.191M<\/td>\n5.375M<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(10th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-0.500M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior breakout below the previous support level at 96.85. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 95.95.<\/p>\n

 <\/p>\n

Resistance level: 96.85, 97.60<\/p>\n

Support level: 95.95, 95.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.2750. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.2750.<\/p>\n

 <\/p>\n

Resistance level: 1.2750, 1.2880<\/p>\n

Support level: 1.2625, 1.2495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1270. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.1345.<\/p>\n

 <\/p>\n

Resistance level: 1.1345, 1.1455<\/p>\n

Support level: 1.1270, 1.1190<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior retracement near the resistance level at 109.40. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement toward the support level at 108.20.<\/p>\n

 <\/p>\n

Resistance level: 109.40, 111.35<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7005. MACD which illustrates bullish bias momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7005, 0.7205<\/p>\n

Support level: 0.6810, 0.6655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6540. However, MACD which illustrates diminishing bullish momentum suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.6600, 0.6670<\/p>\n

Support level: 0.6540, 0.6490<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower while currently testing the support level at 1.3380. MACD which illustrates bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3670, 1.3855<\/p>\n

Support level: 1.3380, 1.3095<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower level. However, MACD which illustrates bearish bias momentum signal suggest the pair to undergo technical correction in short term toward the support level at 0.9535.<\/p>\n

 <\/p>\n

Resistance level: 0.9575, 0.9650<\/p>\n

Support level: 0.9535, 0.9505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 38.00. However, MACD which illustrate bearish bias momentum suggest the commodity to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 41.05, 43.60<\/p>\n

Support level: 38.00, 34.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the 20 moving average line (Red). MACD which illustrate bullish bias momentum signal suggest the commodity to extend its gains after it successfully breakout above the moving average line.<\/p>\n

 <\/p>\n

Resistance level: 1709.45, 1727.45<\/p>\n

Support level: 1695.15, 1683.50<\/p>\n","protected":false},"excerpt":{"rendered":"

9 June 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 Morning Session Analysis   Dollar sinks as lockdown measures eased. Dollar index which gauges its value against a basket of six major currencies hovered near the recent low level as market confidence toward the riskier asset surged after lockdown eased. Amidst the fast spreading of virus in last few month, it had […]<\/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\/125254"}],"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=125254"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/125254\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=125254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=125254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=125254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}