{"id":177689,"date":"2021-06-07T00:30:16","date_gmt":"2021-06-07T00:30:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=177689"},"modified":"2021-06-07T00:30:16","modified_gmt":"2021-06-07T00:30:16","slug":"070621-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/070621-morning-session-analysis\/","title":{"rendered":"070621 Morning Session Analysis"},"content":{"rendered":"

7 June 2021\u00a0\u00a0\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

NFP fails to deliver, US dollar extend its losses.<\/strong><\/span><\/p>\n

US dollar was traded lower against a basket of six major currencies following lower than expected reading from its Nonfarm Payrolls report. As of writing, the dollar index was down 0.03% to 90.07 during Asian trading session. Last Friday, Nonfarm Payrolls report came in at 559K, significantly lower than forecast of 650K. However, Unemployment Rate for the month of May notched down to 5.8%, lower than expected reading of 5.9%. Although unemployment rate has depreciated, the number of jobs created in the US market continues to be well below market expectation. The slack in the employment market may be due to government aids that created an imbalance in between the sum of money received from unemployment benefits and the salary that will be received from finding a new job. Nonetheless, investors remain pessimistic with regards to current job market as its performance was subpar while other economic aspect from the country such as inflation and GDP picks up significantly. For the time being, investors will place their attention upon Federal Reserves\u2019 monetary policy meeting later this week to obtain more market signals.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.37% to $69.50 per barrels. Oil prices continues to rise over the backdrop of rising demand in the global market due to loosened social distancing measures after new coronavirus cases remain well under control. On the other hand, gold price ticks up 0.02% to $1,890.01 a troy ounce due to weaker US dollar.<\/p>\n

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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 Event <\/strong><\/p>\n

N\/A<\/p>\n

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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\/A<\/p>\n

\u00a0<\/u><\/strong><\/p>\n


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

\u00a0<\/u><\/strong><\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 90.50. MACD which illustrated formation of bearish momentum suggest the index to extend its losses after breaking the support level at 90.00.<\/p>\n

 <\/p>\n

Resistance level: 90.25, 90.50<\/p>\n

Support level: 90.00, 89.65<\/p>\n

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the support level at 1.4150. MACD which illustrated the formation of bullish momentum suggest the pair to extend its gains after a successful rebound from the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.4200, 1.4255<\/p>\n

Support level: 1.4150, 1,4105<\/p>\n

 <\/p>\n

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EURUSD, H1: <\/strong>EURUSD was traded higher following prior retracement from the support level at 1.2100. MACD which illustrated the formation of bullish momentum suggest the pair to extend its gains in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.2170, 1.2200<\/p>\n

Support level: 1.2130, 1,2100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower while currently testing the support level at 109.40. MACD which illustrated bearish momentum suggest the pair to be traded lower in short-term after breaking the support level.<\/p>\n

 <\/p>\n

Resistance level: 109.90, 110.35<\/p>\n

Support level: 109.40, 109.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from its previous lower level. MACD which illustrated upward momentum suggest the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.7755, 0.7805<\/p>\n

Support level: 0.7725, 0.7700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.7190. MACD which illustrated bullish momentum suggest the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.7240, 0.7280<\/p>\n

Support level: 0.7190, 0.7145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the higher level. MACD which illustrated bearish momentum suggest the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.2080, 1.2120<\/p>\n

Support level: 1.2045, 1.2000<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following a retracement from the higher level. MACD which shows the formation of bearish momentum suggest the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9005, 0.9040<\/p>\n

Support level: 0.8970, 0.8935<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 68.30. MACD which illustrated bullish momentum suggest the commodity to extend its gains after breaking the resistance level at 70.00.<\/p>\n

 <\/p>\n

Resistance level: 70.00, 71.00<\/p>\n

Support level: 69.10, 68.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following a retracement from higher level. MACD which illustrate diminished bullish momentum suggest the commodity to extend its losses in short-term as technical correction<\/p>\n

 <\/p>\n

Resistance level: 1895.00, 1910.00<\/p>\n

Support level: 1880.00, 1863.25<\/p>\n","protected":false},"excerpt":{"rendered":"

7 June 2021\u00a0\u00a0\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   NFP fails to deliver, US dollar extend its losses. US dollar was traded lower against a basket of six major currencies following lower than expected reading from its Nonfarm Payrolls report. As of writing, the dollar index was down 0.03% to 90.07 during Asian trading session. Last Friday, […]<\/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\/177689"}],"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=177689"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/177689\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=177689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=177689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=177689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}