{"id":144217,"date":"2020-10-15T00:48:34","date_gmt":"2020-10-15T00:48:34","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=144217"},"modified":"2020-10-15T00:48:34","modified_gmt":"2020-10-15T00:48:34","slug":"151020-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/151020-morning-session-analysis\/","title":{"rendered":"151020 Morning Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Pound sterling jumps following Brexit fears eased.<\/strong><\/span><\/p>\n

The pound sterling which traded against the dollar and other currency pairs have rose during early Asian session as U.K have signalled that it will not abandon Brexit trade talks immediately. According to Sky News, UK Prime Minster Boris Johnson have stated that he is willing to continue talks to secure a trade deal beyond his suggested deadline on Thursday and will continue negotiations with European Commission President Ursula von der Leyen later on Wednesday. Despite with the ongoing setbacks on fisheries which is remain the key focus on negotiations, Angela Merkel has called for EU leaders to be more realistic in accepting U.K terms on fisheries. Still, market remain focused on development where UK Prime Minster Boris Johnson will give a final decision on whether to walk away or continue trade talks with the EU on Friday. At the time of writing, GBP\/USD rose 0.05% to 1.3010.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price soars 0.46% to $41.52 per barrel at the time of writing following huge decrease in U.S crude stockpiles. According to American Petroleum Institute (API), U.S crude oil inventories fell by 5.4 million barrels last week. At the same time, OPEC also provide further boost for the black commodity as OPEC remains optimistic and expected that the compliance to production cuts from its allies to be as high as 102% in September. On the other hand, gold price slips 0.13% to $1899.12 a troy ounce following rebound in dollar.<\/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

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0GBP\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Autumn Budget<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
20.30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n840K<\/td>\n825K<\/td>\n–<\/td>\n<\/tr>\n
20.30<\/td>\nUSD – Philadelphia Fed Manufacturing Index (Oct)<\/td>\n15.0<\/td>\n14.0<\/td>\n–<\/td>\n<\/tr>\n
23.00<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n0.501M<\/td>\n-2.835M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level 93.55. MACD which illustrate diminishing bullish momentum signal suggest the dollar to extend its retracement towards the support level 92.70.<\/p>\n

 <\/p>\n

Resistance level: 93.55, 94.65<\/p>\n

Support level: 92.70, 91.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level 1.3005. MACD which illustrate bullish bias signal suggest the pair to extend its gains towards the resistance level 1.3260.<\/p>\n

 <\/p>\n

Resistance level: 1.3260, 1.3500<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat near the resistance level 1.1760. However, MACD which illustrate bearish bias signal suggest the pair to be traded lower towards the support level 1.1615.<\/p>\n

 <\/p>\n

Resistance level: 1.1760, 1.1880<\/p>\n

Support level: 1.1615, 1.1455<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remain traded in a sideway channel while currently testing the support level 105.10. However, MACD which illustrate bearish momentum signal suggest the pair to be traded lower after it breaks below the support level.<\/p>\n

 <\/p>\n

Resistance level: 105.80, 106.45<\/p>\n

Support level: 105.10, 104.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from MA lines. MACD which illustrate ongoing bearish momentum signal suggest the pair to extend its losses towards the support level 0.7105.<\/p>\n

 <\/p>\n

Resistance level: 0.7200, 0.7340<\/p>\n

Support level: 0.7105, 0.7005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded flat while currently testing the resistance level 0.6655. However, MACD which illustrate bearish bias signal with the recent formation of death cross suggest the pair to be traded lower towards the support level 0.6595.<\/p>\n

 <\/p>\n

Resistance level: 0.6655, 0.6725<\/p>\n

Support level: 0.6595, 0.6510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded flat while currently testing the resistance level 1.3145. However, MACD which illustrate bullish momentum signal with the recent formation of golden cross suggest the pair to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3145, 1.3240<\/p>\n

Support level: 1.2995, 1.2890<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from its recent high. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its retracement towards the support level 0.9080.<\/p>\n

 <\/p>\n

Resistance level: 0.9190, 0.9295<\/p>\n

Support level: 0.9080, 0.9000<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remain traded in a sideway channel while currently testing the resistance level 41.55. However, MACD which illustrate bullish bias signal with the formation of golden cross suggest the commodity to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 41.55, 43.95<\/p>\n

Support level: 39.00, 36.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remain traded in a sideway channel. However, MACD which illustrate diminishing bearish momentum signal suggest the commodity to be traded higher in short term towards the resistance level 1918.90<\/p>\n

 <\/p>\n

Resistance level: 1918.90, 1970.55<\/p>\n

Support level: 1879.05, 1847.70<\/p>\n","protected":false},"excerpt":{"rendered":"

15 October 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\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Pound sterling jumps following Brexit fears eased. The pound sterling which traded against the dollar and other currency pairs have rose during early Asian session as U.K have signalled that it will not abandon Brexit trade talks immediately. According to Sky News, UK Prime Minster Boris Johnson have […]<\/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\/144217"}],"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=144217"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/144217\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=144217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=144217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=144217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}