{"id":170987,"date":"2021-04-30T00:15:06","date_gmt":"2021-04-30T00:15:06","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=170987"},"modified":"2021-04-30T00:15:06","modified_gmt":"2021-04-30T00:15:06","slug":"300421-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300421-morning-session-analysis\/","title":{"rendered":"300421 Morning Session Analysis"},"content":{"rendered":"

30 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 standstill following mixed economic data<\/strong><\/span><\/p>\n

The dollar index which gauges its value against a basket of six major currencies was initially traded higher after US released its GDP data at a higher-than-expected reading. According to the Bureau of Economic Analysis, GDP for the first quarter of year 2021 in US jumped 6.4%, unexpectedly stronger than the economist forecast at 6.1% as well as previous reading at 4.3%. The economic activity in US boomed to start 2021 due to the effort of ongoing vaccinations and more government spending to fuel the speed of recovery. Besides, the boost in GDP also came from increased in personal consumption, local and foreign capital inflow as market optimism toward the US future economic outlook brightened following the case counts and deaths from Covid-19 in US dropped significantly. With the signal of strong recovery in US, the US treasury yield has also surged sharply to the level of 1.65%, which somehow sparked some bullish demand in US dollar market. However, the gains of dollar was limited after the Pending Home Sales data reported a downbeat reading at 1.9%, while the market economist expectation was at 5.0%. As of writing, the dollar index rose 0.03% to 90.65.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose by 0.06% to $64.85 per barrel as the cheap US dollar and an expectation of strong recovery in oil market outweigh the worries over the spike in India and Brazil cases. Besides, the gold prices depreciated by 0.01% to $1772.10 a troy ounce amid dollar weakened.<\/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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 German GDP (QoQ)(Q1)<\/td>\n0.3%<\/td>\n-1.5%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY)(Apr)<\/td>\n1.3%<\/td>\n1.6%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM)(Feb)<\/td>\n0.7%<\/td>\n0.5%<\/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 near the support level at 90.45. However, MACD which illustrated diminishing bearish momentum suggest the index to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 90.70, 90.95<\/p>\n

Support level: 90.45, 90.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement near the resistance level at 1.3945. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward the support level at 1.3910.<\/p>\n

 <\/p>\n

Resistance level: 1.3945, 1.3990<\/p>\n

Support level: 1.3910, 1.3865<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.2135. However, MACD which illustrated diminishing bullish momentum signal suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 1.2135, 1.2225<\/p>\n

Support level: 1.2065, 1.1990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 108.30. MACD which illustrated diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 109.20.<\/p>\n

 <\/p>\n

Resistance level: 109.20, 110.05<\/p>\n

Support level: 108.30, 107.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7760. However, MACD which illustrated bearish bias momentum suggest the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.7805, 0.7865<\/p>\n

Support level: 0.7760, 0.7710<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.7235. MACD which illustrated bullish bias momentum signal suggests the pair to extend its gains toward the resistance level at 0.7300.<\/p>\n

 <\/p>\n

Resistance level: 0.7300, 0.7360<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2390. MACD which illustrated bearish bias momentum suggest the pair to extend its losses toward the resistance level at 1.2255.<\/p>\n

 <\/p>\n

Resistance level: 1.2390, 1.2510<\/p>\n

Support level: 1.2255, 1.2105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9110. MACD which illustrated bearish bias momentum suggests the pair to extend its losses toward the support level at 0.9030.<\/p>\n

 <\/p>\n

Resistance level: 0.9110, 0.9185<\/p>\n

Support level: 0.9030, 0.8920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 64.25. However, MACD which illustrated diminishing bullish momentum suggest the commodity to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 66.25, 67.60<\/p>\n

Support level: 64.25, 62.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1766.25. However, MACD which illustrated bearish bias momentum signal suggest the commodity to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 1787.05, 1803.40<\/p>\n

Support level: 1766.25, 1755.60<\/p>\n","protected":false},"excerpt":{"rendered":"

30 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 standstill following mixed economic data The dollar index which gauges its value against a basket of six major currencies was initially traded higher after US released its GDP data at a higher-than-expected reading. According to the Bureau of Economic Analysis, GDP for the first quarter of year […]<\/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\/170987"}],"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=170987"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/170987\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=170987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=170987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=170987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}