{"id":152753,"date":"2021-01-13T00:49:25","date_gmt":"2021-01-13T00:49:25","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=152753"},"modified":"2021-01-13T00:49:25","modified_gmt":"2021-01-13T00:49:25","slug":"130121-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130121-morning-session-analysis\/","title":{"rendered":"130121 Morning Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Dollar slumped amid heightening of political uncertainty.\u00a0<\/strong><\/span><\/p>\n

Dollar index which gauges its value against a basket of six major currencies stumbled after hitting the higher level in 3 weeks amid Donald Trump is facing calls from The House to resign earlier than the scheduled time of power transition. Last week, Trump supporters stormed the Capitol to vent their dissatisfaction over the recent election results, sent the lawmakers into hiding and left five people dead in this riot. As Trump broke his oath of office and incited this insurrection, majority of lawmakers from opposition party \u2013 Democrats are pushing for a second round of impeachment on president in order to remove Trump from office. As political uncertainty continued haunting the US economy, investors chose to flee away from this currency market while eyeing on the further development of president\u2019s impeachment. Besides, downbeat job data that had been announced yesterday in US has further dragged down the value of US dollar. According to the Bureau of Labor Statistics, US JOLTS Job Openings data came in at 6.527M, weaker than the economist forecast at 6.632M, reaffirming the weakness and vulnerability of US labour market during the pandemic. During Asian early trading session, dollar index dropped 0.47% to 90.05.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged by 0.06% to $53.25 per barrel amid optimistic view toward the energy future look has been given by EIA institution. According to the EIA short term energy outlook, they are still expecting the energy consumption will rise in year 2021 and 2022 along with the GDP, but the pandemic and vaccination program were still the main factors to determine the market future direction. Besides, gold price rose 0.07% to $1855.85 per troy ounce amid weakening of US 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 Market\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 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

17:00\u00a0\u00a0\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
21:30<\/td>\nUSD \u2013 Core CPI (MoM)(Dec)<\/td>\n0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 Crude OIL Inventories<\/td>\n-8.010M<\/td>\n-2.266M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/u><\/strong><\/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 90.25. MACD which illustrated bearish momentum suggest the index to extend its losses toward the support level at 89.90.<\/p>\n

 <\/p>\n

Resistance level: 90.25, 91.10<\/p>\n

Support level: 89.90, 89.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3620. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.3710.<\/p>\n

 <\/p>\n

Resistance level: 1.3710, 1.3805<\/p>\n

Support level: 1.3620, 1.3535<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.2205. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2205, 1.2250<\/p>\n

Support level: 1.2155, 1.2120<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level at 103.70. MACD which illustrated increasing of bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 104.00, 104.35<\/p>\n

Support level: 103.70, 103.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7770. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.7770.<\/p>\n

 <\/p>\n

Resistance level: 0.7770, 0.7820<\/p>\n

Support level: 0.7735, 0.7680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.7235. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.7235.<\/p>\n

 <\/p>\n

Resistance level: 0.7235, 0.7305<\/p>\n

Support level: 0.7165, 0.7090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2770. MACD which illustrate increasing of bearish momentum suggest the pair to extend its losses toward the support level at 1.2695.<\/p>\n

 <\/p>\n

Resistance level: 1.2770, 1.2825<\/p>\n

Support level: 1.2695, 1.2625<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.8885. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the support level at 0.8855.<\/p>\n

 <\/p>\n

Resistance level: 0.8885, 0.8915<\/p>\n

Support level: 0.8855, 0.8820<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 53.75. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 53.75.<\/p>\n

 <\/p>\n

Resistance level: 53.75, 55.40<\/p>\n

Support level: 51.90, 49.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1861.05. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1861.05, 1877.35<\/p>\n

Support level: 1842.90, 1825.40<\/p>\n","protected":false},"excerpt":{"rendered":"

13 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Dollar slumped amid heightening of political uncertainty.\u00a0 Dollar index which gauges its value against a basket of six major currencies stumbled after hitting the higher level in 3 weeks amid Donald Trump is facing calls from The House to resign earlier than the scheduled time of power transition. […]<\/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\/152753"}],"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=152753"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/152753\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=152753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=152753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=152753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}