{"id":140581,"date":"2020-09-15T00:23:33","date_gmt":"2020-09-15T00:23:33","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=140581"},"modified":"2020-09-15T00:23:33","modified_gmt":"2020-09-15T00:23:33","slug":"150920-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150920-morning-session-analysis\/","title":{"rendered":"150920 Morning Session Analysis"},"content":{"rendered":"

15 September 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\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound steadied following Johnson won in the key Brexit vote.\u00a0<\/strong><\/span><\/p>\n

Pound sterling which acts as the a major currency in FX market managed to hold its ground after UK Prime Minister won an initial Parliamentary vote to violate the Brexit deal with European Union. Earlier today, the plan of Boris Johnson to breach the Brexit treaty was supported by the majority of the parliamentary members with 340 against 263 votes. This so called Johnson\u2019s bill is perceived as a threat by EU, where it might collapse the trade talks and urge a messy Brexit at the end. However, Boris Johnson disagreed with EU statement while emphasizing that the bill was essential to counter the unfair treatment from EU such as trade barrier between Britain and Northern Ireland and imposed a food blockade. In order to strive for a better future, UK have to remain its hard stance in negotiating the deal with EU, while showing no tolerance toward the EU party. Prior to now, both parties reiterated that they must achieve a deal before the month of October and that if not, no deal Brexit will has the highest probability to be faced by UK. As of writing, the pair of GBP\/USD rose 0.04% to 1.2849.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rebounded by 0.30% to $37.35 per barrel after falling for more than 3% yesterday amid OPEC\u2019s bearish outlook toward the future outlook of this black commodity market. According to CNBC, OPEC has slashed the forecast of oil demand growth for this year by 400K bpd as compare to the previous month\u2019s estimate. Besides, gold price surged by 0.05% to $1956.50 per troy ounce amid resurgence of Covid-19 lifted up the favourability of safe haven asset such as gold.<\/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\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP \u2013 Average Earnings Index + Bonus (Jul)<\/td>\n-1.2%<\/td>\n-1.3%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP \u2013 Claimant Count Change (Aug)<\/td>\n94.4K<\/td>\n100.0K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Sep)<\/td>\n71.5<\/td>\n69.8<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(16th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n2.9700M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, <\/strong>H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 93.25. MACD which illustrated bearish bias momentum suggest the index to extend its losses toward the support level at 92.60.<\/p>\n

 <\/p>\n

Resistance level: 93.25, 94.10<\/p>\n

Support level: 92.60, 92.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.2840. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level at 1.2840.<\/p>\n

 <\/p>\n

Resistance level: 1.3045, 1.3255<\/p>\n

Support level: 1.2840, 1.2715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1840. MACD which illustrate bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1.1890.<\/p>\n

 <\/p>\n

Resistance level: 1.1890, 1.1950<\/p>\n

Support level: 1.1840, 1.1775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower while currently testing the bottom level of the triangle. MACD which illustrates diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the triangle\u2019s bottom level.<\/p>\n

 <\/p>\n

Resistance level: 106.15, 106.95<\/p>\n

Support level: 105.20, 104.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.7265.<\/p>\n

 <\/p>\n

Resistance level: 0.7330, 0.7405<\/p>\n

Support level: 0.7265, 0.7205<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6615. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.6755.<\/p>\n

 <\/p>\n

Resistance level: 0.6755, 0.6835<\/p>\n

Support level: 0.6615, 0.6535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.3140. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.3235.<\/p>\n

 <\/p>\n

Resistance level: 1.3235, 1.3315<\/p>\n

Support level: 1.3140, 1.3030<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9050. MACD which illustrates diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.9120.<\/p>\n

 <\/p>\n

Resistance level: 0.9120, 0.9200<\/p>\n

Support level: 0.9050, 0.8970<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded flat near the 20 moving average line (Red). MACD which illustrate diminishing bullish momentum suggest the commodity to undergo technical correction toward the support level at 36.30.<\/p>\n

 <\/p>\n

Resistance level: 38.70, 40.30<\/p>\n

Support level: 36.30, 34.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded higher following prior rebound from the support level at 1926.40. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its rebound toward the resistance level at 2069.75.<\/p>\n

 <\/p>\n

Resistance level: 2069.75, 2147.50<\/p>\n

Support level: 1926.40, 1761.65<\/p>\n","protected":false},"excerpt":{"rendered":"

15 September 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\u00a0 Morning Session Analysis   Pound steadied following Johnson won in the key Brexit vote.\u00a0 Pound sterling which acts as the a major currency in FX market managed to hold its ground after UK Prime Minister won an initial Parliamentary vote to violate the Brexit deal with European Union. Earlier today, the plan […]<\/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\/140581"}],"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=140581"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/140581\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=140581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=140581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=140581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}