{"id":156269,"date":"2021-02-16T22:37:56","date_gmt":"2021-02-16T22:37:56","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=156269"},"modified":"2021-02-16T22:37:56","modified_gmt":"2021-02-16T22:37:56","slug":"170221-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170221-morning-session-analysis\/","title":{"rendered":"170221 Morning Session Analysis"},"content":{"rendered":"

17 February 2021\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

Rising US treasury yields, spurring bullish momentum on US Dollar.<\/strong><\/span><\/p>\n

The Dollar index which traded against a basket of six major currency pairs had surged significantly following the U.S. treasury yields rose to the highest level since February 2020, as investors start to factor in the full economic impact of a stimulus plan totaling as much as $1.9 trillion. Such big fluctuation in US bond market on Tuesday would indicate that investors seem to be betting on a stronger economic recovery ahead while speculating that the Federal Reserve would have a less accommodative monetary easing program in long run. Higher bond yielding would attract further capital inflow into United States, which spurring significant bullish momentum on the US Dollar. Besides, the US Dollar extend its gains over the backdrop of the positive hopes upon the resolution of Covid-19 pandemic. US President Joe Biden claimed that he believes the U.S. would able to achieve 100 million vaccines shots within 100 days, which dialed up the further market optimism toward the economic progression in the United States. As of writing, the Dollar Index appreciated by 0.11% to 90.60.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.10% to $60.10 per barrel as of writing. The oil market edged higher amid wintry conditions had destructed the oil production in Texas, the biggest energy producing state in the United States. According to Bloomberg, as much as 1 million barrels a day of crude oil production has been affected by the winter storm, spurring fears upon the supply destruction of this black commodity. On the other hand, the gold price slumped 1.31% to $1794.10 per troy ounces as of writing amid strengthening 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\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

16:00\u00a0\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 ECB Monetary Policy Statement<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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 – CPI (YoY) (Jan)<\/td>\n0.6%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core Retail Sales (MoM) (Jan)<\/td>\n-1.4%<\/td>\n1.0%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – PPI (MoM) (Jan)<\/td>\n0.3%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD – Core CPI (MoM) (Jan)<\/td>\n-0.4%<\/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 90.40. MACD which illustrated increasing bullish momentum suggest the index to extend its gains toward resistance level at 90.85.<\/p>\n

 <\/p>\n

Resistance level: 90.85, 91.55<\/p>\n

Support level: 90.40, 90.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3985. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3855.<\/p>\n

 <\/p>\n

Resistance level: 1.3985, 1.4085<\/p>\n

Support level: 1.3855, 1.3775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.2150. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2065.<\/p>\n

 <\/p>\n

Resistance level: 1.2150, 1.2215<\/p>\n

Support level: 1.2065, 1.2010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level at 106.00. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 106.00, 106.50<\/p>\n

Support level: 105.65, 105.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level at 0.7765. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7670.<\/p>\n

 <\/p>\n

Resistance level: 0.7765, 0.7865<\/p>\n

Support level: 0.7670, 0.7590<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.7255. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7165.<\/p>\n

 <\/p>\n

Resistance level: 0.7255, 0.7305<\/p>\n

Support level: 0.7165, 0.7110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2690. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2690, 1.2770<\/p>\n

Support level: 1.2610, 1.2540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded within a range while currently testing the resistance level at 0.8925. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.8925, 0.8980<\/p>\n

Support level: 0.8845, 0.8775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 59.60. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 60.75.<\/p>\n

 <\/p>\n

Resistance level: 60.75, 62.00<\/p>\n

Support level: 59.60, 58.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1791.00. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1816.50, 1841.05<\/p>\n

Support level: 1791.00, 1764.65<\/p>\n

 <\/p>\n

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

17 February 2021\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 Rising US treasury yields, spurring bullish momentum on US Dollar. The Dollar index which traded against a basket of six major currency pairs had surged significantly following the U.S. treasury yields rose to the highest level since February 2020, as investors start to factor in the full economic impact […]<\/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\/156269"}],"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=156269"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/156269\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=156269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=156269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=156269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}