{"id":164085,"date":"2021-03-25T23:46:30","date_gmt":"2021-03-25T23:46:30","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=164085"},"modified":"2021-03-25T23:46:30","modified_gmt":"2021-03-25T23:46:30","slug":"260321-morning-session-anaylysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260321-morning-session-anaylysis\/","title":{"rendered":"260321 Morning Session Anaylysis"},"content":{"rendered":"

26 March 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar surged amid upbeat economic data.\u00a0 <\/strong>\u00a0<\/strong><\/span><\/p>\n

Dollar index which gauges its value against a basket of six major currencies managed to extend its rally following the release of positive economic data in US yesterday. According to the Bureau of Economic Analysis, US GDP for the fourth quarter in year 2020 came in at 4.3%, stronger than the economist forecast at 4.1%, showing that the economy growth was remained strong despite the fallout of virus. In details, the increase of GDP was mainly contributed by the significant jumps in the component of export and investment, but gains were partly offset by a reduce on government spending. On the other side, the number of American who filed for unemployment benefit has reduced significant, pulling back with a surprising amount of number. According to the US Labour Department, US Initial Jobless Claims data dropped from previous reading at 781K to 684K, while recording a lower number comparing to the economist forecast at 730K. This upbeat labour data has proven that the effectiveness of vaccine rollout on recovering the economy as well as pushing up the hiring activity of the companies. During the Asian early trading session, dollar index rose by 0.35% to 92.85.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price dropped by 0.01% to $58.25 per barrel amid heightening of market worries over the resurgence of virus in Europe may interrupt the demand of oil market. Based on the recent statistics, the countries in Europe such as Germany, France and Italy are facing significant rise in Covid-19 cases. Besides, gold price dropped by 0.03% to $1727.10 per troy ounce amid strengthening of US dollar.<\/p>\n

\u00a0<\/u><\/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

18:00\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 EU Leaders Summit<\/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
15:00<\/td>\nGBP \u2013 Retail Sales (YoY)(Feb)<\/td>\n-3.8%<\/td>\n-1.5%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nGerman ifo Business Climate Index (Mar)<\/td>\n92.4<\/td>\n93.2<\/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 at 92.60. MACD which illustrated bullish bias momentum suggest the index to extend its gains toward the resistance level at 93.00.<\/p>\n

 <\/p>\n

Resistance level: 93.00, 93.35<\/p>\n

Support level: 92.60, 92.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the lower level. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.3755.<\/p>\n

 <\/p>\n

Resistance level: 1.3755, 1.3845<\/p>\n

Support level: 1.3625, 1.3540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1755. MACD which illustrated bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level at 1.1755.<\/p>\n

 <\/p>\n

Resistance level: 1.1830, 1.1890<\/p>\n

Support level: 1.1755, 1.1695<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 109.20, 109.65<\/p>\n

Support level: 108.35, 107.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7565. MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher toward the resistance level at 0.7600.<\/p>\n

 <\/p>\n

Resistance level: 0.7600, 0.7655<\/p>\n

Support level: 0.7565, 0.7505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded flat near below the resistance level at 0.6960. MACD which illustrated bullish momentum signal suggests the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6560, 0.7015<\/p>\n

Support level: 0.6905, 0.6815<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2610. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 1.2610, 1.2685<\/p>\n

Support level: 1.2560, 1.2485<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level at 0.9370. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.9430.<\/p>\n

 <\/p>\n

Resistance level: 0.9430, 0.9480<\/p>\n

Support level: 0.9370, 0.9310<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 57.40. However, MACD which illustrated diminishing bullish momentum suggest the commodity to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 59.30, 60.65<\/p>\n

Support level: 57.40, 56.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the downward trendline. MACD which illustrated bearish bias momentum signal suggest the commodity to extend its losses toward the support level at 1723.35.<\/p>\n

 <\/p>\n

Resistance level: 1738.95, 1754.15<\/p>\n

Support level: 1723.35, 1710.80<\/p>\n","protected":false},"excerpt":{"rendered":"

26 March 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Dollar surged amid upbeat economic data.\u00a0 \u00a0 Dollar index which gauges its value against a basket of six major currencies managed to extend its rally following the release of positive economic data in US yesterday. According to the Bureau of Economic Analysis, US GDP for the fourth quarter […]<\/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\/164085"}],"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=164085"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/164085\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=164085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=164085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=164085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}