{"id":167975,"date":"2021-04-15T00:10:42","date_gmt":"2021-04-15T00:10:42","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=167975"},"modified":"2021-04-15T00:10:42","modified_gmt":"2021-04-15T00:10:42","slug":"150421-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150421-morning-session-analysis\/","title":{"rendered":"150421 Morning Session Analysis"},"content":{"rendered":"

15 April 2021\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

 <\/p>\n

Dollar plunged amid Powell\u2019s dovish stance over monetary policy path. \u00a0<\/strong><\/span><\/p>\n

The dollar index which gauges its value against a basket of six major currencies failed to recoup from its previous losses while lingering near the lowest level in one month after Federal Reserve (Fed) Chairman Jerome Powell reiterated his \u2018hard stance\u2019 over the interest rate in short term. Overnight, Powell revealed that the boards of Fed did not see any raising rates until 2024 as the unprecedented risk remains as the major threat toward US economy. However, an adjustment over the unfolding monetary policy would still outcome-based, where they will start to loosen the monetary policy by reducing the bond purchase program before raising rates when only their nation\u2019s economy are under sustainable growth with a 2% and above of inflation rates. Lastly, Jerome Powell also warned public that the main risk of US is another spike in Covid-19 cases, as the resurgence of pandemic would definitely put the US economy into freezing phrase once again. As of writing, dollar index dropped 0.24% to 91.65.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.11% to $62.85 per barrel as of writing after EIA showed a significant decline in US oil inventory level. According to the EIA, US Crude Oil Inventories level came in at -5.889M while the economist forecast was at -2.889M, indicated an increasing of demand in oil market. Besides, the gold price rose by 0.01% to $1736.00 per troy ounce amid weakening of dollar index.<\/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\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

N\/A<\/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
20:30<\/td>\nUSD \u2013 Core Retail Sales (MoM)(Mar)<\/td>\n-2.7%<\/td>\n5.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n744K<\/td>\n700K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (Apr)<\/td>\n51.8<\/td>\n42.0<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Retail Sales (MoM)(Mar)<\/td>\n-3.0%<\/td>\n5.9%<\/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 lower while currently testing the support level at 91.60. 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: 91.95, 92.40<\/p>\n

Support level: 91.60, 91.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher lower following prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggest the pair to extend its extend its losses toward the support level at 1.3725.<\/p>\n

 <\/p>\n

Resistance level: 1.3810, 1.3865<\/p>\n

Support level: 1.3725, 1.3675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1990. 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: 1.1990, 1.2030<\/p>\n

Support level: 1.1955, 1.1915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 109.20. MACD which illustrated bearish bias momentum signal suggest the pair to extend its losses toward the support level at 108.30.<\/p>\n

 <\/p>\n

Resistance level: 109.20, 110.00<\/p>\n

Support level: 108.30, 107.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7735. MACD which illustrated bullish bias momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.7735.<\/p>\n

 <\/p>\n

Resistance level: 0.7735, 0.7815<\/p>\n

Support level: 0.7665, 0.7565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7110. MACD which illustrated bullish bias momentum signal suggests the pair to extend its gains toward the resistance level at 0.7170.<\/p>\n

 <\/p>\n

Resistance level: 0.7170, 0.7235<\/p>\n

Support level: 0.7100, 0.7060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2510. MACD which illustrated bearish bias momentum suggests the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2570, 1.2635<\/p>\n

Support level: 1.2510, 1.2465<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower higher following prior breakout above the resistance level at 0.9220. MACD which illustrated bullish bias momentum suggests the pair to extend its gains toward the resistance level at 0.9280.<\/p>\n

 <\/p>\n

Resistance level: 0.9280, 0.9360<\/p>\n

Support level: 0.9220, 0.9185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 62.50. MACD which illustrated bullish bias momentum suggest the commodity to extend its gains toward the resistance level at 63.70.<\/p>\n

 <\/p>\n

Resistance level: 63.70, 65.40<\/p>\n

Support level: 62.50, 61.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1735.05. \u00a0MACD which illustrated bearish momentum signal suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1745.25, 1755.60<\/p>\n

Support level: 1735.05, 1723.85<\/p>\n

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

15 April 2021\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   Dollar plunged amid Powell\u2019s dovish stance over monetary policy path. \u00a0 The dollar index which gauges its value against a basket of six major currencies failed to recoup from its previous losses while lingering near the lowest level in one month after Federal Reserve (Fed) Chairman Jerome Powell […]<\/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\/167975"}],"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=167975"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/167975\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=167975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=167975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=167975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}