{"id":135221,"date":"2020-08-11T01:39:07","date_gmt":"2020-08-11T01:39:07","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=135221"},"modified":"2020-08-11T01:39:32","modified_gmt":"2020-08-11T01:39:32","slug":"110820-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/110820-morning-session-analysis\/","title":{"rendered":"110820 Morning Session Analysis"},"content":{"rendered":"

11 August 2020\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 advanced following positive data.<\/strong><\/span><\/p>\n

During early Asian session, dollar index which traded against a basket of six major currency pairs have continue to advance following upbeat job data. According to the US Bureau of Labor Statistics, JOLTS jobs opening which help measure the job vacancies in the U.S have improved to 5.889M, surpassing market expectation with the reading of only 4.91M. Following the positive data coupled with another a better-than-expected Nonfarm Payroll last week, market continues to cheer for the dollar, thus boosting the demand for the greenback. Meanwhile, White House officials and congressional Democrats recently expressed a willingness to compromise on another stimulus package to bolster the stalled economy, but said no talks were planned. At the time of writing, dollar index rose 0.19% to 93.61.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price edge higher 0.30% to $42.05 per barrel as of writing amid expectations of U.S stimulus. The U.S congress have previously passed three versions of stimulus aid that worth more than $3 trillion to support U.S businesses and individuals while a fourth version of stimulus which would add another $2 trillion is expected to passed which could help support the economy. On the other hand, gold price slips 0.08% to $2028.90 a troy ounce at the time of writing amid heightening risk appetite.<\/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

20.00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 CrudeOIL\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EIA Short-Term Energy Outlook<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
16.30<\/td>\nGBP – Average Earnings Index +Bonus (Jun)<\/td>\n-0.3%<\/td>\n-1.1%<\/td>\n–<\/td>\n<\/tr>\n
16.30<\/td>\nGBP – Claimant Count Change (Jul)<\/td>\n-28.1K<\/td>\n10.0K<\/td>\n–<\/td>\n<\/tr>\n
17.00<\/td>\nEUR – German ZEW Economic Sentiment (Aug)<\/td>\n59.3<\/td>\n58.0<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD \u2013 PPI (MoM) (Jul)<\/td>\n-0.2%<\/td>\n0.3%<\/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 was traded higher following recent rebound from the support level 92.45. However, MACD which illustrate diminishing bullish momentum signal suggest the dollar to experience a short term technical correction towards back the support level 92.45.<\/p>\n

 <\/p>\n

Resistance level: 94.00, 95.70<\/p>\n

Support level: 92.45, 90.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat near the support level 1.3005. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher in short term towards the resistance level 1.3200.<\/p>\n

 <\/p>\n

Resistance level: 1.3200, 1.3320<\/p>\n

Support level: 1.3005, 1.2810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level 1.1795. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses in short term towards the support level 1.1690.<\/p>\n

 <\/p>\n

Resistance level: 1.1795, 1.1895<\/p>\n

Support level: 1.1690, 1.1575<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel while currently testing near the resistance level 106.20. However, MACD which display bullish bias signal suggest the pair to be traded higher after it breaks above the resistance level 106.20.<\/p>\n

 <\/p>\n

Resistance level: 106.20, 106.75<\/p>\n

Support level: 105.25, 104.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded flat near the resistance level 0.7185. However, MACD which illustrate bearish momentum signal suggest the pair to traded lower towards the support level 0.7040.<\/p>\n

 <\/p>\n

Resistance level: 0.7185, 0.7290<\/p>\n

Support level: 0.7040, 0.6935<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded flat while currently testing the support level 0.6580. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher towards the resistance level 0.6685.<\/p>\n

 <\/p>\n

Resistance level: 0.6685, 0.6750<\/p>\n

Support level: 0.6580, 0.6510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the support level 1.3330. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3484, 1.3635<\/p>\n

Support level: 1.3330, 1.3195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following recent rebound from the support level 0.9065. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a short term technical correction towards the support level 0.9065.<\/p>\n

 <\/p>\n

Resistance level: 0.9230, 0.9365<\/p>\n

Support level: 0.9065, 0.8985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance level 42.45. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its gains after it breaks above the resistance level 42.45.<\/p>\n

 <\/p>\n

Resistance level: 42.45, 43.85<\/p>\n

Support level: 41.00, 39.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded flat near the support level 2011.00. However, MACD which illustrate diminishing bearish momentum signal suggest the commodity to be traded higher towards the resistance level 2075.40.<\/p>\n

 <\/p>\n

Resistance level: 2075.40, 2179.40<\/p>\n

Support level: 2011.00, 1970.60<\/p>\n","protected":false},"excerpt":{"rendered":"

11 August 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Dollar advanced following positive data. During early Asian session, dollar index which traded against a basket of six major currency pairs have continue to advance following upbeat job data. According to the US Bureau of Labor Statistics, JOLTS jobs opening which help measure the job vacancies in the […]<\/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\/135221"}],"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=135221"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/135221\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=135221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=135221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=135221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}