{"id":143929,"date":"2020-10-13T00:20:42","date_gmt":"2020-10-13T00:20:42","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=143929"},"modified":"2020-10-13T00:20:42","modified_gmt":"2020-10-13T00:20:42","slug":"131020-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131020-morning-session-analysis\/","title":{"rendered":"131020 Morning Session Analysis"},"content":{"rendered":"

13 October 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

Pound surged over the hopes for \u201csoft-Brexit.\u201d<\/strong><\/span><\/p>\n

Pound Sterling surged on yesterday amid positive hopes upon the \u201csoft-Brexit\u201d trade negotiation, which spurring demand for the Pound Sterling. Market participants speculated that both United Kingdom and European Union party would able to reach a consensus on a trade deal during the deadline which set by the UK Prime Minister Boris Johnson on 15th<\/sup> October. According to BBC, it reported that both sides have achieved some progress in the last couple of weeks, though there are still major disagreements on few major issues. Nonetheless, investors would continue to scrutinize the latest updates with regards of the Brexit deal in order to gauge the likelihood movement for the currencies. However, the gains experienced by the Pound Sterling was limited following the UK Prime Minister Boris Johnson announced new coronavirus restrictions, which dragged down the appeal for the Pound Sterling. According to Reuters, Boris Johnson set out a three-tier system of local lockdown measures in England, which including a ban on households mixing indoors in some area in order to curb the spiking number of coronavirus in United Kingdom. According to the latest data, UK had recorded 13,972 new cases of coronavirus on yesterday.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.10% to $39.80 per barrel as of writing as the Energy companies forged ahead restoring oil production in the United States on Monday following the Hurricane Delta weaken. On the other hand, the gold market was traded flat at $1924.15 per troy ounces as of writing amid market participants are still waiting for the further development with regards of the latest U.S. stimulus plans in order to receive further trading signal.<\/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 – Average Earnings Index +Bonus (Aug)<\/td>\n-1.0%<\/td>\n-0.6%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Claimant Count Change (Sep)<\/td>\n73.7K<\/td>\n80.0K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR – German ZEW Economic Sentiment (Oct)<\/td>\n77.4<\/td>\n74.0<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core CPI (MoM) (Sep)<\/td>\n0.4%<\/td>\n0.2%<\/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 lower following prior breakout below the previous support level at 93.45. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 93.45, 93.90<\/p>\n

Support level: 92.75, 92.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3070. 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: 1.3070, 1.3145<\/p>\n

Support level: 1.2985, 1.2890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently near the resistance level at 1.1830. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1830, 1.18700<\/p>\n

Support level: 1.1765, 1.1725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 105.70. 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: 105.70, 106.15<\/p>\n

Support level: 105.10, 104.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7200. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7245, 0.7295<\/p>\n

Support level: 0.7200, 0.7145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.6675. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.6610.<\/p>\n

 <\/p>\n

Resistance level: 0.6675, 0.6725<\/p>\n

Support level: 0.6610, 0.6570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3135. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3135, 1.3200<\/p>\n

Support level: 1.3055, 1.3000<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9080. 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: 0.9175, 0.9295<\/p>\n

Support level: 0.9080, 0.9025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 39.25. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 40.55.<\/p>\n

 <\/p>\n

Resistance level: 40.55, 41.45<\/p>\n

Support level: 39.25, 38.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1928.90. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1928.90, 1941.80<\/p>\n

Support level: 1915.65, 1897.95<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

13 October 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis Pound surged over the hopes for \u201csoft-Brexit.\u201d Pound Sterling surged on yesterday amid positive hopes upon the \u201csoft-Brexit\u201d trade negotiation, which spurring demand for the Pound Sterling. Market participants speculated that both United Kingdom and European Union party would able to reach a consensus on a trade deal during […]<\/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\/143929"}],"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=143929"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/143929\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=143929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=143929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=143929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}