{"id":152621,"date":"2021-01-12T01:18:42","date_gmt":"2021-01-12T01:18:42","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=152621"},"modified":"2021-01-12T01:18:42","modified_gmt":"2021-01-12T01:18:42","slug":"120121-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120121-morning-session-analysis\/","title":{"rendered":"120121 Morning Session Analysis"},"content":{"rendered":"

12 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Euro sinks following rising COVID-19 cases in Europe.<\/strong><\/span><\/p>\n

During early Asian session, the euro have fell against the dollar and other currency pairs due to growing concerns over Europe\u2019s increasing Covid-19 infection numbers. As coronavirus continue to ravage across the globe, countries across the EU remain facing difficulty to have the virus under control. Most of Europe was under the strictest restrictions after the continent became the first to report 25 million coronavirus cases last week. In Belgium, infection rates in Brussels have leapt by more than three-quarters in a week. There is also news about France to close borders with UK to reduce the influx of new COVID-19 variants. Following the worsening condition of outbreak, investors are now shifting their portfolio from to safer markets such as greenback, thus also dragging down the Euro at the same time. At the time of writing, EUR\/USD plunged 0.09% to 1.2154.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price retreats 0.05% to $52.12 per barrel as of writing amid ongoing demand concerns over surging coronavirus. As of now, market sentiment has been slowly dented by strict coronavirus lockdowns in Europe and new movement restrictions in China which is the world’s second-largest oil user after a jump in cases there. On the other hand, gold price remains weak and fell 0.11% to $1847.88 a troy ounce at the time of writing following stronger 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

20.00\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 CrudeOIL\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0EIA Short-Term Energy Outlook<\/p>\n

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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
23.00<\/td>\nUSD \u2013 JOLTs Job Openings (Nov)<\/td>\n6.652M<\/td>\n–<\/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 higher following prior breakout above the previous resistance level 90.15. MACD which illustrate persistent bullish bias signal suggest the dollar to extend its gains towards the resistance level 91.00.<\/p>\n

 <\/p>\n

Resistance level: 91.00, 92.10<\/p>\n

Support level: 90.15, 89.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level 1.3470. MACD which illustrate diminishing bearish momentum signal suggest the pair to extend its rebound towards the resistance level 1.3620.<\/p>\n

 <\/p>\n

Resistance level: 1.3620, 1.3725<\/p>\n

Support level: 1.3470, 1.3295<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing near the support level 1.2125. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to experience a technical correction towards the resistance level 1.2260.<\/p>\n

 <\/p>\n

Resistance level: 1.2260, 1.2390<\/p>\n

Support level: 1.2125, 1.1995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance level 104.25. However, MACD which illustrate diminishing bullish momentum signal with the starting formation of death cross suggest the pair to experience a technical correction towards the support level 103.20.<\/p>\n

 <\/p>\n

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

Support level: 103.20, 102.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded flat near the resistance level 0.7735. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7735, 0.7825<\/p>\n

Support level: 0.7630, 0.7480<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.7155. However, MACD which illustrate diminishing bearish momentum signal suggest the pair to be traded higher as a technical correction towards the resistance level 0.7300.<\/p>\n

 <\/p>\n

Resistance level: 0.7300, 0.7390<\/p>\n

Support level: 0.7155, 0.7070<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level 1.2795. MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a technical correction towards the support level 1.2640.<\/p>\n

 <\/p>\n

Resistance level: 1.2795, 1.2955<\/p>\n

Support level: 1.2640, 1.2535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.8900. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to be traded lower as a technical correction towards the support level 0.8765.<\/p>\n

 <\/p>\n

Resistance level: 0.8900, 0.8990<\/p>\n

Support level: 0.8765, 0.8650<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following recent breakout above the previous resistance level 51.30. However, MACD which illustrate bearish bias signal with the formation of death cross suggest the commodity to experience a short term technical correction towards the support level 51.30.<\/p>\n

 <\/p>\n

Resistance level: 54.75, 57.40<\/p>\n

Support level: 51.30, 48.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing near the resistance level 1857.75. MACD which illustrate diminishing bearish momentum signal suggest the commodity to extend its gains after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1857.75, 1897.25<\/p>\n

Support level: 1816.25, 1770.90<\/p>\n","protected":false},"excerpt":{"rendered":"

12 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Euro sinks following rising COVID-19 cases in Europe. During early Asian session, the euro have fell against the dollar and other currency pairs due to growing concerns over Europe\u2019s increasing Covid-19 infection numbers. As coronavirus continue to ravage across the globe, countries across the EU remain facing difficulty […]<\/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\/152621"}],"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=152621"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/152621\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=152621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=152621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=152621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}