{"id":170457,"date":"2021-04-27T23:12:03","date_gmt":"2021-04-27T23:12:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=170457"},"modified":"2021-04-27T23:12:03","modified_gmt":"2021-04-27T23:12:03","slug":"280421-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280421-morning-session-analysis\/","title":{"rendered":"280421 Morning Session Analysis"},"content":{"rendered":"

28 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

Pound surged on Covid-19 vaccine optimism.<\/strong><\/span><\/p>\n

Pound Sterling surged yesterday amid positive hopes upon the UK\u2019s economic recovery from the Covid-19 pandemic, which spurring demand on the Pound Sterling. The positive Covid-19 vaccine development had successfully reduced the Covid-19 infections as well as the death rate from United Kingdom. According to latest data from the Office for National Statistics (ONS), they revealed that the deaths involving Covid-19 among people in UK have fallen by up to 97% since the peak of the second wave in the UK. As for now, more than 33.8 million in the UK have received their first dose Covid-19 vaccine, while more than 13.2 million have received two, according to latest government figures. Meanwhile, they also show that a further 17 people have died within 28 days of positive Covid-19 test and 2,685 new cases were recorded on yesterday. Nonetheless, due to lack of any catalyst from the UK, investors would continue to scrutinize the latest updates with regards of Covid-19 development in order to gauge the likelihood movement for the currency. As of writing, GBP\/USD slumped 0.06% to 1.3903.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.04% to $63.00 per barrel as of writing. The oil market edged lower in early trading hours over the backdrop of bearish inventory data. According to American Petroleum Institute, U.S. API Weekly Crude Oil Stock notched up significantly from the previous reading of 0.436M to 4.319M, exceeding the market forecast at 0.375M. On the other hand, the gold price was traded within a tight range at $1776.00 per troy ounces amid investors are awaiting further signal from the Federal Reserve before entering the gold market.<\/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

N\/A<\/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
20:30<\/td>\nCAD – Core Retail Sales (MoM) (Feb)<\/td>\n-1.2%<\/td>\n3.7%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n0.594M<\/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 lower while currently testing the support level at 90.75. However, MACD which illustrated diminishing bullish momentum suggest the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 91.25, 91.95<\/p>\n

Support level: 90.75, 90.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3910. 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: 1.3915, 1.4010<\/p>\n

Support level: 1.3815, 1.3690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.2065. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2110, 1.2170<\/p>\n

Support level: 1.2065, 1.2035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 108.75. 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: 108.75, 109.25<\/p>\n

Support level: 108.20, 107.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.7805. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7710.<\/p>\n

 <\/p>\n

Resistance level: 0.7800, 0.7880<\/p>\n

Support level: 0.7710, 0.7650<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the resistance level at 0.7230. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.7140.<\/p>\n

 <\/p>\n

Resistance level: 0.7230, 0.7315<\/p>\n

Support level: 0.7140, 0.7070<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2385. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2470, 1.2540<\/p>\n

Support level: 1.2385, 1.2300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9130. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9220, 0.9305<\/p>\n

Support level: 0.9130, 0.9040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 62.20. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 63.70.<\/p>\n

 <\/p>\n

Resistance level: 63.70, 66.30<\/p>\n

Support level: 62.20, 60.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1772.85. 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: 1792.85, 1810.50<\/p>\n

Support level: 1772.85, 1752.60<\/p>\n","protected":false},"excerpt":{"rendered":"

28 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 Pound surged on Covid-19 vaccine optimism. Pound Sterling surged yesterday amid positive hopes upon the UK\u2019s economic recovery from the Covid-19 pandemic, which spurring demand on the Pound Sterling. The positive Covid-19 vaccine development had successfully reduced the Covid-19 infections as well as the death rate from United Kingdom. […]<\/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\/170457"}],"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=170457"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/170457\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=170457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=170457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=170457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}