{"id":153268,"date":"2021-01-19T00:35:15","date_gmt":"2021-01-19T00:35:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=153268"},"modified":"2021-01-19T00:35:15","modified_gmt":"2021-01-19T00:35:15","slug":"190121-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/190121-morning-session-analysis\/","title":{"rendered":"190121 Morning Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Euro wobbles amid pessimistic eurozone outlook.<\/strong><\/span><\/p>\n

The single currency in European Union was having mixed pattern yesterday while hovering near the lowest level in six weeks as ongoing pandemic continue overshadowed the EU economy performance. Amidst another wave of covid-19 crisis, several EU countries were forced to reimplement lockdown measure to combat and limit the fast-spreading virus. With more nations under lockdowns and restrictions, majority of the economic activity in EU halted which subsequently exerted huge pressure on Europe\u2019s recovery and constituting a clear deterioration of economic outlook. Furthermore, German Chancellor Angela Merkel also revealed that she wanted to unleash a \u201cmega-lockdown\u201d after a spike in death toll and confirmed virus cases in Germany last week. Over such a backdrop, investors are eyeing on the upcoming ECB meeting which scheduled on Thursday\u2019s night in order to gauge the further direction of Euro. As Covid-19 crisis was making EU economic imbalances worse, it hinted that ECB may step in by easing their monetary policy or vowing EU government to unveil further fiscal support in order to boost up the recovery pace of economy. As of writing, the pair of EUR\/USD dropped 0.01% to 1.2075.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.05% to $52.10 per barrel as of writing amid market concern over the possibility of further lockdown in Europe may damper the oil market future demand outlook. Besides, gold price rose 0.01% to $1837.40 a troy ounce amid worsening of pandemic covid-19 sharpen the market safe-haven behaviour.<\/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

N\/A<\/p>\n

 <\/p>\n

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
18:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Jan)<\/td>\n55.0<\/td>\n60.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\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 retracement from the higher level. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses toward the support level at 90.60.<\/p>\n

 <\/p>\n

Resistance level: 91.10, 91.60<\/p>\n

Support level: 90.60, 90.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.3620, 1.3710<\/p>\n

Support level: 1.3535, 1.3470<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.2070. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 1.2120.<\/p>\n

 <\/p>\n

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

Support level: 1.2070, 1.2020<\/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 bearish bias 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 following prior rebound from the support level at 0.7665. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.7735.<\/p>\n

 <\/p>\n

Resistance level: 0.7735, 0.7770<\/p>\n

Support level: 0.7670, 0.7635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.7165.<\/p>\n

 <\/p>\n

Resistance level: 0.7165, 0.7235<\/p>\n

Support level: 0.7090, 0.7015<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement near the resistance level at 1.2770. MACD which illustrate diminishing bullish 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 retracement from the resistance level at 0.8915. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.8885.<\/p>\n

 <\/p>\n

Resistance level: 0.8915, 0.8955<\/p>\n

Support level: 0.8885, 0.8855<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound near the support level at 51.65. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 52.60.<\/p>\n

 <\/p>\n

Resistance level: 52.60, 53.75<\/p>\n

Support level: 51.65, 50.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1825.40. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 1842.90.<\/p>\n

 <\/p>\n

Resistance level: 1842.90, 1861.05<\/p>\n

Support level: 1825.40, 1803.40<\/p>\n","protected":false},"excerpt":{"rendered":"

19 January 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Euro wobbles amid pessimistic eurozone outlook. The single currency in European Union was having mixed pattern yesterday while hovering near the lowest level in six weeks as ongoing pandemic continue overshadowed the EU economy performance. Amidst another wave of covid-19 crisis, several EU countries were forced to reimplement […]<\/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\/153268"}],"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=153268"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/153268\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=153268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=153268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=153268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}