{"id":156570,"date":"2021-02-18T00:19:54","date_gmt":"2021-02-18T00:19:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=156570"},"modified":"2021-02-18T00:19:54","modified_gmt":"2021-02-18T00:19:54","slug":"180221-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180221-morning-session-analysis\/","title":{"rendered":"180221 Morning Session Analysis"},"content":{"rendered":"

18 February 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Japanese Yen plunged amid Covid-19 worries eased.<\/strong><\/span><\/p>\n

During Asian early trading session, Japanese Yen which acts as one of the major currencies that being traded in FX market dive after The World Health Organization (WHO) reported a significant drop in new coronavirus cases last week. Yesterday, WHO revealed that the global figure of new coronavirus cases decreased by 500,000 last week to 2.7 million, a 16 percent drop over the previous week. Back to the first week of January, the global coronavirus additional cases had peaked near 5 million in total. However, nearly all regions of the world have seen a downward trend in new cases since the rollout of vaccination program, while the lockdown measure in countries such as UK and Germany have been proven effective to curb the continue spreading virus. On front of the fatalities due to Covid-19, the figure of new deaths was still high at 81K, but the number has decreased significantly and below 10 percent while comparing to the previous week. With the backdrop of large drop in new virus cases, the global economic outlook turns brighter while igniting the investor\u2019s confidence that the economy will recover back to pre-pandemic level soon. Thus, safe-haven currency such as Japanese Yen threw off tremendously by the investor and seek for riskier asset. As of writing, the pair of USD\/JPY ticked up 0.02% to 105.90.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciated by 0.10% to $61.60 per barrel after hitting 13 months high level amid continuous drawn in US oil inventories. According to the API data, US API Weekly Crude Oil Stock data came in at -5.800M while the economist forecast was -2.175M. On the other hand, gold price plunged 0.02% to $1776.50 per troy ounce amid easing of market worries toward the spread of virus.<\/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 Market\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 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

20:30\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 ECB Publishes Account of Monetary Policy Meeting<\/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
21:30<\/td>\nUSD \u2013 Building Permits (Jan)<\/td>\n1.704M<\/td>\n1.679M<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n793K<\/td>\n765K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (Feb)<\/td>\n26.5<\/td>\n20.0<\/td>\n–<\/td>\n<\/tr>\n
00:00<\/p>\n

(19th<\/sup>)<\/td>\n

CrudeOIL \u2013 CrudeOIL Inventories<\/td>\n-6.644M<\/td>\n-2.175M<\/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 90.75. MACD which illustrated bullish bias momentum suggest the index to extend its gains toward the resistance level at 91.10.<\/p>\n

 <\/p>\n

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

Support level: 90.75, 90.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3845. 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: 1.3900, 1.3960<\/p>\n

Support level: 1.3845, 1.3800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD 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 1.2065.<\/p>\n

 <\/p>\n

Resistance level: 1.2065, 1.2105<\/p>\n

Support level: 1.2015, 1.1950<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 106.00. MACD which illustrated diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 105.65.<\/p>\n

 <\/p>\n

Resistance level: 106.00, 106.30<\/p>\n

Support level: 105.65, 105.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7720. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.7785.<\/p>\n

 <\/p>\n

Resistance level: 0.7785, 0.7825<\/p>\n

Support level: 0.7720, 0.7670<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.7165. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.7240.<\/p>\n

 <\/p>\n

Resistance level: 0.7240, 0.7300<\/p>\n

Support level: 0.7165, 0.7105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2740. MACD which illustrate diminishing bullish momentum signal suggest the pair to extend its losses toward the support level at 1.2690.<\/p>\n

 <\/p>\n

Resistance level: 1.2740, 1.2770<\/p>\n

Support level: 1.2690, 1.2660<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.8985. 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: 0.8985, 0.9035<\/p>\n

Support level: 0.8920, 0.8850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 61.10. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 61.95.<\/p>\n

 <\/p>\n

Resistance level: 61.95, 62.50<\/p>\n

Support level: 61.10, 60.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1770.70. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward the resistance level at 1786.10.<\/p>\n

 <\/p>\n

Resistance level: 1786.10, 1809.90<\/p>\n

Support level: 1770.70, 1757.70<\/p>\n","protected":false},"excerpt":{"rendered":"

18 February 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Japanese Yen plunged amid Covid-19 worries eased. During Asian early trading session, Japanese Yen which acts as one of the major currencies that being traded in FX market dive after The World Health Organization (WHO) reported a significant drop in new coronavirus cases last week. Yesterday, WHO revealed […]<\/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\/156570"}],"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=156570"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/156570\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=156570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=156570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=156570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}