{"id":142339,"date":"2020-09-25T00:37:16","date_gmt":"2020-09-25T00:37:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=142339"},"modified":"2020-09-25T00:37:16","modified_gmt":"2020-09-25T00:37:16","slug":"250920-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250920-morning-session-analysis\/","title":{"rendered":"250920 Morning Session Analysis"},"content":{"rendered":"

25 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 sterling gains amid U.K new measures.<\/strong><\/span><\/p>\n

During early Asian session, the pound sterling which traded against the dollar and other currency pairs have manage to regain its footing and rebound after U.K unveiled new measures to protect jobs and business. Due to worsening coronavirus that continue to terrorize across the U.K, U.K Chancellor Rishi Sunak have propose a fresh round of measures to help ease the economic fallout. According to the new plans, the U.K will subsidize the pay of employees who have not return to work full time but are working at least a third of their usual hours. The move was also welcomed by the BoE Governor Andrew Bailey which he stated that it is reasonable as the recovery over the summer will not be the same way. The plan just came right after U.K reported an increase of 6,634 cases recently and will start in November. Following the positive news, the pound sterling was boosted higher. Still, the optimism may be short-lived as uncertainty towards trade talks between UK and EU also weighing on the market while market awaits for further signal and development to gauge further sentiment for the pair. At the time of writing, GBP\/USD rose 0.05% to 1.2751.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.32% to $40.27 per barrel at the time of writing following positive forecast of oil demand growth. According to reports, one of the top U.S energy corporation, ConocoPhillips stated that the global oil demand would indeed return to 100 million barrels per day and will keep growing from there. At the same time, Russia oil producer, Gazprom Neft also forecasted that the oil demand will fully recover by the end of next year. On the other hand, gold price gains 0.04% to $1868.53 a troy ounce at the time of writing as dollar slips from its high which in turn exert some demand for the yellow metal.<\/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 Core Durable Goods Orders (MoM) (Aug)<\/td>\n2.6%<\/td>\n1.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/u><\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from its high level. MACD which illustrate diminishing bullish momentum with the starting formation of death cross suggest the dollar to extend its losses towards the support level 93.90.<\/p>\n

 <\/p>\n

Resistance level: 95.70, 97.55<\/p>\n

Support level: 93.90, 92.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat while currently testing the resistance level 1.2775. However, MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2775, 1.3005<\/p>\n

Support level: 1.2510, 1.2340<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from its low level. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to extend its rebound towards the resistance level 1.1720.<\/p>\n

 <\/p>\n

Resistance level: 1.1720, 1.1890<\/p>\n

Support level: 1.1575, 1.1455<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded flat while currently testing near the support level 105.25. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 106.20, 106.95<\/p>\n

Support level: 105.25, 104.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from its low level. MACD which display diminishing bearish bias signal with the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.7105.<\/p>\n

 <\/p>\n

Resistance level: 0.7105, 0.7200<\/p>\n

Support level: 0.6970, 0.6820<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6510. MACD which display bullish bias signal with the starting formation of golden cross suggest the pair to extend its rebound towards the resistance level 0.6595.<\/p>\n

 <\/p>\n

Resistance level: 0.6595, 0.6685<\/p>\n

Support level: 0.6510, 0.6445<\/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 bearish momentum signal with the formation of death cross suggest the pair to extend its losses after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3455, 1.3635<\/p>\n

Support level: 1.3330, 1.3230<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level 0.9205. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a short term technical correction back towards the current support level 0.9205.<\/p>\n

 <\/p>\n

Resistance level: 0.9370, 0.9455<\/p>\n

Support level: 0.9205, 0.9035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level 39.00. MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 41.35.<\/p>\n

 <\/p>\n

Resistance level: 41.35, 43.95<\/p>\n

Support level: 39.00, 36.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level 1854.20. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the commodity to extend its rebound towards the resistance level 1902.20.<\/p>\n

 <\/p>\n

Resistance level: 1902.20, 1970.55<\/p>\n

Support level: 1854.20, 1790.05<\/p>\n","protected":false},"excerpt":{"rendered":"

25 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 sterling gains amid U.K new measures. During early Asian session, the pound sterling which traded against the dollar and other currency pairs have manage to regain its footing and rebound after U.K unveiled new measures to protect jobs and business. Due to worsening coronavirus that continue to […]<\/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\/142339"}],"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=142339"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/142339\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=142339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=142339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=142339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}