{"id":146833,"date":"2020-11-10T05:57:22","date_gmt":"2020-11-10T05:57:22","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=146833"},"modified":"2020-11-11T06:20:51","modified_gmt":"2020-11-11T06:20:51","slug":"111020-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/111020-morning-session-analysis\/","title":{"rendered":"101120 Morning Session Analysis"},"content":{"rendered":"

10 November 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Safe haven yen plunged amid positive vaccine results.<\/strong><\/span><\/p>\n

Japanese Yen which acting as one of the major trading currencies in FX market was dumped by the market participants tremendously after drug maker Pfizer announced that the coronavirus vaccine trial shows positive result in preventing Covid-19. According to Pfrizer\u2019s statement, the vaccine produced by German drug maker BioNTEch and themselves have entered clinical trial stage and result shows that the vaccine was more than 90 percent effective in preventing the disease among trial volunteers. Besides, all the trial volunteers who had no evidence of prior coronavirus infection shows no side-effect after injecting the vaccine. Therefore, Pfizer is now planning to request for emergency authorization of the vaccine later this month from US Food and Drug Administration after they have successfully proven that the results stay positive with two months of safety data. However, Scientist and experts have warned to against the whoop and a holler of early result, as long-term safety issue and feasibility of the vaccine remains unknown. As of now, investors will now eyes on the further evidence of result over the development of Pfizer\u2019s vaccine as well as the vaccine from other companies. During Asian early trading session, the pair of USD\/JPY retrace 0.07% to 105.30.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged by 0.05% to $40.10 per barrel as positive result of vaccine\u2019s development boosted up the market sentiment of this black commodity. With the expectation of vaccine will be born in near future, global oil demand is expected to recover rapidly and therefore lifted the price of crude oil. Besides, gold price depreciated by 0.10% to $1861.00 a troy ounce as market risk appetite surge amid encouraging result of vaccine\u2019s development.<\/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 CrudeOIL\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EIA Short-Term Energy Outlook<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
15:00<\/td>\nGBP \u2013 Average Earnings Index + Bonus (Sep)<\/td>\n0.0%<\/td>\n1.0%<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nGBP \u2013 Claimount Count Change<\/td>\n28.0K<\/td>\n50.0K<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Nov)<\/td>\n56.1<\/td>\n41.7<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 JOLTs Job Openings (Sep)<\/td>\n6.493M<\/td>\n6.500M<\/td>\n–<\/td>\n<\/tr>\n
05:30<\/p>\n

(11th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n-8.010M<\/td>\n–<\/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 higher following prior breakout above the previous resistance level at 92.65. MACD which illustrate bullish bias momentum signal suggest the dollar to extend it gains toward the resistance level at 93.00.<\/p>\n

 <\/p>\n

Resistance level: 93.00, 93.30<\/p>\n

Support level: 92.65, 92.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3145. MACD which illustrates diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.3195.<\/p>\n

 <\/p>\n

Resistance level: 1.3195, 1.3230<\/p>\n

Support level: 1.3145, 1.3110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1810. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 1.1810.<\/p>\n

 <\/p>\n

Resistance level: 1.1845, 1.1870<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 105.45. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 104.90.<\/p>\n

 <\/p>\n

Resistance level: 105.45, 106.05<\/p>\n

Support level: 104.90, 104.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7265. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.7330.<\/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, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6835. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to undergo technical correction in short term toward a lower level.<\/p>\n

 <\/p>\n

Resistance level: 0.6835, 0.6870<\/p>\n

Support level: 0.6785, 0.6725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2960. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.3035.<\/p>\n

 <\/p>\n

Resistance level: 1.3035, 1.3095<\/p>\n

Support level: 1.2960, 1.2885<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9115. MACD which display bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 0.9150.<\/p>\n

 <\/p>\n

Resistance level: 0.9150, 0.9180<\/p>\n

Support level: 0.9115, 0.9090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 39.75. MACD which illustrate diminishing bullish momentum signal suggest the commodity to extend its losses after it successfully breakout below the support level at 39.75.<\/p>\n

 <\/p>\n

Resistance level: 40.75, 41.45<\/p>\n

Support level: 39.75, 39.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher while currently testing the resistance level at 1867.70. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains after it successfully breakout above the resistance level at 1867.70.<\/p>\n

 <\/p>\n

Resistance level: 1867.70, 1891.50<\/p>\n

Support level: 1854.45, 1845.90<\/p>\n","protected":false},"excerpt":{"rendered":"

10 November 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 Morning Session Analysis   Safe haven yen plunged amid positive vaccine results. Japanese Yen which acting as one of the major trading currencies in FX market was dumped by the market participants tremendously after drug maker Pfizer announced that the coronavirus vaccine trial shows positive result in preventing Covid-19. According to Pfrizer\u2019s […]<\/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\/146833"}],"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=146833"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/146833\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=146833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=146833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=146833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}