{"id":181597,"date":"2021-06-25T00:44:23","date_gmt":"2021-06-25T00:44:23","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=181597"},"modified":"2021-06-25T00:46:52","modified_gmt":"2021-06-25T00:46:52","slug":"250621-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/250621-morning-session-analysis\/","title":{"rendered":"250621 Morning Session Analysis"},"content":{"rendered":"

25 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

Pound slumped following BoE maintained dovish tone.<\/strong><\/span><\/p>\n

Pound Sterling slumped following yesterday the Bank of England maintained their interest rate at 0.1%. Besides the Monetary Policy Committee (MPC) also sets the expansionary monetary policy to achieve 2% inflation target, and also boost up economic growth and employment rate. Besides, the Committee also voted unanimously for the Bank of England to maintain the stock of sterling non-financial investment-grade corporate bond purchases and continue with its existing program of UK government bond purchases, maintaining the target for the government bond purchases at \u00a3875 billion and total target stock of asset purchases at \u00a3895 billion. On top of that, the MPC forecasted that the UK GDP was expected to recover significantly over 2021, to pre-Covid levels. Nonetheless, the Bank of England will continue to scrutinize the situation closely and will take whatever action is necessary to stabilize the economic growth. As of writing, GBP\/USD depreciated by 0.04% to 1.3915.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price was traded flat at $73.62 per barrel as market participants still waited for further catalyst while focusing on the Covid-19 pandemic updates in order to gauge the likelihood movement for the commodity. On the other hand, the gold price depreciated by 0.01% to $1774.85 per troy ounces as of writing. The gold price was traded lower yesterday over the backdrop of bearish economic job data from United States.<\/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\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 92.35. 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: 92.35. 93.25<\/p>\n

Support level: 91.35, 90.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3940. 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: 1.3940, 1.3990<\/p>\n

Support level: 1.3870, 1.3810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level at 1.1955. 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: 1.1955, 1.2065<\/p>\n

Support level: 1.1855, 1.1725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 111.00. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 111.00, 111.55<\/p>\n

Support level: 110.35, 109.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7585. 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: 0.7585, 0.7700<\/p>\n

Support level: 0.7465, 0.7365<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6940. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 0.7120.<\/p>\n

 <\/p>\n

Resistance level: 0.7120, 0.7300<\/p>\n

Support level: 0.6940, 0.6770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2275. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 1.2360.<\/p>\n

 <\/p>\n

Resistance level: 1.2360, 1.2480<\/p>\n

Support level: 1.2275, 1.2165<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9180. 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: 0.9235, 0.9305<\/p>\n

Support level: 0.9180, 0.9135<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Weekly: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 73.95. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 73.95, 81.00<\/p>\n

Support level: 64.15, 52.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1793.95. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1764.75.<\/p>\n

 <\/p>\n

Resistance level: 1793.95, 1814.00<\/p>\n

Support level: 1764.75, 1735.85<\/p>\n

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

25 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 Pound slumped following BoE maintained dovish tone. Pound Sterling slumped following yesterday the Bank of England maintained their interest rate at 0.1%. Besides the Monetary Policy Committee (MPC) also sets the expansionary monetary policy to achieve 2% inflation target, and also boost up economic growth and employment rate. Besides, […]<\/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\/181597"}],"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=181597"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/181597\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=181597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=181597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=181597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}