{"id":179297,"date":"2021-06-14T23:34:06","date_gmt":"2021-06-14T23:34:06","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=179297"},"modified":"2021-06-15T01:56:14","modified_gmt":"2021-06-15T01:56:14","slug":"150621-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/150621-morning-session-analysis\/","title":{"rendered":"150621 Morning Session Analysis"},"content":{"rendered":"

15 June 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

Dollar was traded flat ahead of FOMC meeting.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs was traded flat amid market participants still anxiously wait for a key event of FOMC meeting this week for guidance on future monetary policy. Recent data pointing a surge in inflation rate has spurred concerns that the price pressure following the post-Covid-19 economic reopening could force the policymakers to be tightening its monetary policy in order to combat the high inflation risk. Nearly 60% of economists in a Reuters poll claimed that a much-anticipated taper announcement will come in next quarter, despite a weak recovery in the job market. Nonetheless, the overall statement from the Federal Reserve remained vague while investors would continue to scrutinize the latest updates with regards of FOMC meeting to gauge the likelihood movement for the US Dollar. As of writing, the Dollar Index depreciated by 0.06% to 90.50.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.21% to $70.05 per barrel as of writing amid technical correction following hitting 2-year highs. The overall momentum for this black-commodity remains bullish amid market participants speculated that the positive development of rapid Covid-19 vaccination rollout would able to enhance the economic growth as well as the oil demand in future. On the other hand, the gold price surged 0.06% to $1867.30 per troy ounces as of writing amid weakening US Dollar.<\/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

20:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoE Gov Bailey Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\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
14:00<\/td>\nGBP – Average Earnings Index +Bonus (Apr)<\/td>\n4.00%<\/td>\n4.90%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Claimant Count Change (May)<\/td>\n-15.1K<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core Retail Sales (MoM) (May)<\/td>\n-0.8%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – PPI (MoM) (May)<\/td>\n0.6%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Retail Sales (MoM) (May)<\/td>\n0.0%<\/td>\n-0.7%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 90.50. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 90.50. 90.75<\/p>\n

Support level: 90.25, 89.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.4100. 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: 1.4235, 1.4365<\/p>\n

Support level: 1.4100, 1.4005<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.2110. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.2170.<\/p>\n

 <\/p>\n

Resistance level: 1.2170, 1.2255<\/p>\n

Support level: 1.2110, 1.2060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 109.75. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 110.30.<\/p>\n

 <\/p>\n

Resistance level: 110.30, 110.90<\/p>\n

Support level: 109.75, 109.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.7700. 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: 0.7805, 0.7880<\/p>\n

Support level: 0.7710, 0.7645<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.7125. 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: 0.7225, 0.7300<\/p>\n

Support level: 0.7125, 0.7060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2035. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2380.<\/p>\n

 <\/p>\n

Resistance level: 1.2380, 1.2605<\/p>\n

Support level: 1.2040, 1.1785<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.8930. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9095, 0.9175<\/p>\n

Support level: 0.8930, 0.8850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 70.45. 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: 71.65, 73.00<\/p>\n

Support level: 70.45, 68.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1857.10. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains toward resistance level at 1908.40.<\/p>\n

 <\/p>\n

Resistance level: 1908.40, 1957.95<\/p>\n

Support level: 1857.10, 1814.35<\/p>\n

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

15 June 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 was traded flat ahead of FOMC meeting. The Dollar Index which traded against a basket of six major currency pairs was traded flat amid market participants still anxiously wait for a key event of FOMC meeting this week for guidance on future monetary policy. Recent data pointing a […]<\/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\/179297"}],"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=179297"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/179297\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=179297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=179297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=179297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}