{"id":126269,"date":"2020-06-15T00:31:10","date_gmt":"2020-06-15T00:31:10","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=126269"},"modified":"2020-06-15T01:06:21","modified_gmt":"2020-06-15T01:06:21","slug":"150620-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150620-morning-session-analysis\/","title":{"rendered":"150620 Morning Session Analysis"},"content":{"rendered":"

15 June 2020\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

Pound Sterling slumped amid negative economic data.<\/strong><\/span><\/p>\n

Pound Sterling slumped over the backdrop of a string of bleak data from the UK region. According to Office for National Statistics, the U.K. Manufacturing Production for last month notched down significantly from the previous reading of -4.6% to -24.3%, worse than the market expectation at -15.8%. Similarly, the U.K. Gross Domestic Product (GDP) for last quarter also declined massively from preliminary reading of -5.8% to -20.4%, lower than the market expectation at -18.75%. Such data had both fared worse than market expectation, which dialling down the market optimism toward the economic progression from the United Kingdom while spurring significant selloff for the Pound Sterling. On Brexit front, the lack of progress over the trade negotiation between UK and European Union had left scant hope on soft-Brexit, which further dragged down the appeal for the Pound Sterling. According to Reuters, the UK negotiators claimed that it would not extend a Brexit transition period that is due to end on 31st<\/sup> December 2020. Analysts predicted that the Pound Sterling would be suffering further depreciation amid to poor performance of UK government in managing the COVID-19 crisis and uncertainty with regards of the Brexit issues. As of writing, GBP\/USD slumped 0.32% to 1.2495.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 1.13% to $35.75 per barrel as of writing. The oil market edged lower amid investors remained concern over the second wave of the coronavirus infection in the United States and indication from the Federal Reserve that the economy could struggle for another two years, which weighing the demand for the black-commodity. On the other hand, the gold price surged 0.10% to $1732.45 per troy ouns 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\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 NY Empire State Manufacturing Index (Jun)<\/td>\n-48.50<\/td>\n-27.50<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index higher while currently testing the resistance level at 97.00. However, MACD which illustrated diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 97.00, 97.60<\/p>\n

Support level: 96.00, 95.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.2500. 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: 1.2595, 1.2675<\/p>\n

Support level: 1.2500, 1.2395<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1245. 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: 1.1405, 1.1555<\/p>\n

Support level: 1.1245, 1.1140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 107.45. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 107.45, 107.80<\/p>\n

Support level: 107.15, 106.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6915. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.6755.<\/p>\n

 <\/p>\n

Resistance level: 0.6915, 0.7015<\/p>\n

Support level: 0.6755, 0.6650<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6405. 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: 0.6475, 0.6520<\/p>\n

Support level: 0.6405, 0.6350<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.3670. 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: 1.3670, 1.3800<\/p>\n

Support level: 1.3480, 1.3355<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9505. 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: 0.9545, 0.9580<\/p>\n

Support level: 0.9505, 0.9450<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 34.30. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 37.55.<\/p>\n

 <\/p>\n

Resistance level: 37.55, 40.25<\/p>\n

Support level: 34.30, 31.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1738.70. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 1723.25.<\/p>\n

 <\/p>\n

Resistance level: 1738.70, 1752.05<\/p>\n

Support level: 1723.25, 1706.00<\/p>\n","protected":false},"excerpt":{"rendered":"

15 June 2020\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 Pound Sterling slumped amid negative economic data. Pound Sterling slumped over the backdrop of a string of bleak data from the UK region. According to Office for National Statistics, the U.K. Manufacturing Production for last month notched down significantly from the previous reading of -4.6% to -24.3%, worse than […]<\/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\/126269"}],"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=126269"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/126269\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=126269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=126269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=126269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}