{"id":144494,"date":"2020-10-19T00:42:47","date_gmt":"2020-10-19T00:42:47","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=144494"},"modified":"2020-10-19T00:42:47","modified_gmt":"2020-10-19T00:42:47","slug":"191020-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/191020-morning-session-analysis\/","title":{"rendered":"191020 Morning Session Analysis"},"content":{"rendered":"

19 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 seesawed amid Brexit uncertainty heightened.<\/strong><\/span><\/p>\n

Pound sterling which act as one of the major currency in the FX market was having mixed pattern last Friday while ended the trading session at lower level after Boris Johnson call on UK to prepare for Australian style deal, which symbolizing the UK will leave with no trade deal in place. Prior to now, UK Prime Minister Boris Johnson has set a deadline on 15th<\/sup> October for Post-Brexit negotiation where no deal Brexit will be happened if deadlocks between UK and EU remain unsolved. As non-result by the deadline, Boris Johnson announced that it\u2019s time to get ready for the prospect of no-deal Brexit on 31th<\/sup> Dec unless there is a fundamental change of approach from EU side. Based on the status quo, it has showed that Boris Johnson was not completely abandoned the negotiation while insisting that a deal might be reached if EU willing to offer better terms. Besides, Minister for the UK Cabinet Office Michael Gove has emphasized that they are still \u2018open\u2019 for EU trade talks only if it move ground in key areas such as fisheries and fair trading issues. During Asian early trading session, the pair of GBP\/USD inched up 0.06% to 1.2920.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.20% to $41.20 per barrel after OPEC+ Secretary General Barkindo said that they will not let oil prices crash again. As of now, OPEC production cuts compliance is still up to the expectation, however investors will still keep their eye on the production cut\u2019s figure in order to scrutinize the oil price\u2019 trend. Besides, gold price surged 0.05% to $1901.20 per troy ounce as resurgence of pandemic lifted up the market\u2019s anxiety.<\/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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Fed Chair Powell Speaks<\/p>\n

20:45\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Lagarde Speaks<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 93.50. MACD which illustrate diminishing bearish momentum signal suggest the dollar to extend its gains toward the resistance level at 94.10.<\/p>\n

 <\/p>\n

Resistance level: 94.10, 94.90<\/p>\n

Support level: 93.50, 92.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2885. MACD which illustrates bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.2945.<\/p>\n

 <\/p>\n

Resistance level: 1.2945, 1.3000<\/p>\n

Support level: 1.2885, 1.2815<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the higher level. However, MACD which illustrate bullish bias momentum signal suggest the pair to undergo technical correction in short term toward a higher level.<\/p>\n

 <\/p>\n

Resistance level: 1.1765, 1.1810<\/p>\n

Support level: 1.1705, 1.1675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 105.15. MACD which illustrate bullish bias momentum suggest the pair to extend its gains toward the resistance level at 105.75.<\/p>\n

 <\/p>\n

Resistance level: 105.75, 106.05<\/p>\n

Support level: 105.15, 104.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7075. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 0.7140.<\/p>\n

 <\/p>\n

Resistance level: 0.7140, 0.7205<\/p>\n

Support level: 0.7075, 0.7010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6610. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.6610.<\/p>\n

 <\/p>\n

Resistance level: 0.6610, 0.6660<\/p>\n

Support level: 0.6570, 0.6515<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3235. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.3140.<\/p>\n

 <\/p>\n

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

Support level: 1.3140, 1.3025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the support level at 0.9120. However, MACD which display diminishing bullish momentum signal suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.9180, 0.9225<\/p>\n

Support level: 0.9120, 0.9050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 40.90. MACD which illustrate bullish signal suggest the commodity to extend its gains toward the resistance level at 41.40.<\/p>\n

 <\/p>\n

Resistance level: 41.40, 42.15<\/p>\n

Support level: 40.90, 40.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1899.40. Due to lack of signal from the MACD, it is suggested to wait for further confirmation before entering into the market.<\/p>\n

 <\/p>\n

Resistance level: 1915.75, 1939.60<\/p>\n

Support level: 1899.40, 1876.85<\/p>\n

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

19 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 seesawed amid Brexit uncertainty heightened. Pound sterling which act as one of the major currency in the FX market was having mixed pattern last Friday while ended the trading session at lower level after Boris Johnson call on UK to prepare for Australian style deal, which symbolizing […]<\/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\/144494"}],"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=144494"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/144494\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=144494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=144494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=144494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}