{"id":164332,"date":"2021-03-29T00:04:53","date_gmt":"2021-03-29T00:04:53","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=164332"},"modified":"2021-03-29T00:26:21","modified_gmt":"2021-03-29T00:26:21","slug":"290321-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290321-morning-session-analysis\/","title":{"rendered":"290321 Morning Session Analysis"},"content":{"rendered":"

29 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

Pound surged following a financial service agreement achieved between UK and EU.<\/strong><\/span><\/p>\n

Pound sterling which act as one of major currency in FX market managed to extend its rally after UK and EU reached a consensus in the negotiation about future financial services interaction between two jurisdictions. Last weekend, UK and EU have agreed a memorandum of understanding (MOU) on financial services, however the formal agreement has not been signed by both parties yet as it is still under formal validation process. With the agreement become effective, the MOU sets out a framework for regulatory cooperation and a joint forum for discussing rules and procedures as well as the sharing of relevant information between these two countries. The agreement is similar to the existing deal between US and EU, where the agreement would allow the UK to gain back some access to EU financial services market. Nonetheless, market participants are still eyeing on the finalised formal agreement and its details in order to confirm the feasibility of the deal. As of writing, the pair of GBP\/USD surged by 0.01% to 1.3785.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price rose by 0.51% to $61.00 per barrel amid the cargo ship that ran aground in Suez Canal continues support the gains of this black commodity product. As of now, the ship is still blocking the vital waterway and experts warned that it might take longer time to remove the cargo ship. Besides, the gold prices rose by 0.03% to $1732.50 per troy ounce amid Xinjiang cotton conflict triggered a renewed tension between US and China.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing the support level at 92.60. MACD which illustrated bearish bias momentum suggest the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3805. 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: 1.3805, 1.3880<\/p>\n

Support level: 1.3755, 1.3675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1755. MACD which illustrated bullish bias momentum signal suggest the pair to extend its gains toward the resistance level at 1.1830.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 109.75. 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: 109.75, 110.25<\/p>\n

Support level: 109.20, 108.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7600. MACD which illustrated bullish bias momentum suggest the pair to extend its gains toward the resistance level at 0.7655.<\/p>\n

 <\/p>\n

Resistance level: 0.7655, 0.7700<\/p>\n

Support level: 0.7600, 0.7565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6960. MACD which illustrated bullish momentum signal suggests the pair to extend its gains toward the resistance level at 0.7015.<\/p>\n

 <\/p>\n

Resistance level: 0.7015, 0.7105<\/p>\n

Support level: 0.6960, 0.6905<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2560. MACD which illustrate bearish bias momentum signal suggest the pair to extend its losses after it successfully breakout below the support level.<\/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 lower following prior retracement near the resistance level at 0.9430. MACD which illustrated bearish momentum suggest the pair to extend its losses toward the support level at 0.9370.<\/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 lower while currently testing the support level at 60.65. However, MACD which illustrated bullish bias momentum suggest the commodity to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 61.70, 62.60<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

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

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

29 March 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Pound surged following a financial service agreement achieved between UK and EU. Pound sterling which act as one of major currency in FX market managed to extend its rally after UK and EU reached a consensus in the negotiation about future financial services interaction between two jurisdictions. Last […]<\/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\/164332"}],"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=164332"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/164332\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=164332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=164332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=164332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}