{"id":183787,"date":"2021-07-07T01:36:28","date_gmt":"2021-07-07T01:36:28","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=183787"},"modified":"2021-07-07T01:36:28","modified_gmt":"2021-07-07T01:36:28","slug":"070721-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/070721-morning-session-analysis\/","title":{"rendered":"070721 Morning Session Analysis"},"content":{"rendered":"

7 July 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\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

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Greenback rose over bullish speculation.<\/strong><\/span><\/p>\n

US dollar rebounds from its lower level on yesterday following bullish speculation among investors. Currently, investors are waiting for the release of Federal Reserve meeting minutes to gauge their perception and timeline of interest rate hike. Previously, several members of Fed have urged to tighten their monetary policy as soon as next year due to rising inflation in the US. According to latest report, US inflation is currently hovering near 5% for the comparison of year-over-year, significantly above Fed\u2019s target of 2%. However, gains on the US dollar remains limited after recent economic data from the US shows a significant scale down in economic momentum. For the month of Jun, ISM Non-Manufacturing PMI notched down to 60.1, significantly lower than forecast of 63.5. The depreciation in services sector activities were largely due to shortage of staff that limits its output for last month. As of writing, the dollar index was up 0.01% to 92.48.<\/p>\n

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For the commodities, crude oil price slumped 0.36% to $73.03 per barrel. Oil price plunged sharply after investors began to take profits from the recent appreciation of price. For the time being, investors will place attention upon OPEC for possible signals with regards to production hike. On the other hand, gold price was down 0.08% to $1,796.13 a troy ounce while market await for more signals.<\/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\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

02:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Meeting Minutes (8th<\/sup>)<\/p>\n

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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
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (May)<\/td>\n9.286M<\/td>\n9.388M<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 Ivey PMI (Jun)<\/td>\n64.7<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following a rebound from the lower levels. MACD which illustrated bullish momentum suggest the index to extend its gains in short-term.<\/p>\n

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Resistance level: 92.55, 92.85<\/p>\n

Support level: 92.20, 91.90<\/p>\n

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

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Resistance level: 1.3805, 1.3860<\/p>\n

Support level: 1.3750, 1.3690<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior retrace from 1.1870. MACD which illustrated bearish momentum suggest the pair to be traded lower in short-term.<\/p>\n

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Resistance level: 1.1840, 1.1870<\/p>\n

Support level: 1.1810, 1.1770<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from higher levels. MACD which illustrated bearish momentum suggests the pair to be traded lower after closing below 110.45.<\/p>\n

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Resistance level: 110.70, 110.95<\/p>\n

Support level: 110.45, 110.15<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded lower following a retracement from higher levels. MACD which shows diminished bullish momentum suggests the pair to extend its losses in short-term.<\/p>\n

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Resistance level: 0.7510, 0.7560<\/p>\n

Support level: 0.7475, 0.7450<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.7015. MACD which illustrate bearish momentum suggests the pair to extend its losses after closing below 0.7015.<\/p>\n

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Resistance level: 0.7070, 0.7115<\/p>\n

Support level: 0.7015, 0.6975<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level at 1.2320. MACD which illustrated bullish momentum suggest the pair to extend its gains after closing above 1.2470.<\/p>\n

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Resistance level: 1.2470, 1.2510<\/p>\n

Support level: 1.2400, 1.2320<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded higher following a rebound near 0.9200. MACD which illustrate diminished bullish momentum suggests the pair to be traded higher in short-term.<\/p>\n

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Resistance level: 0.9270, 0,9205<\/p>\n

Support level: 0.9230, 0.9200<\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil price was traded lower following prior retracement from the higher level. MACD which shows increasing bearish momentum suggests its price to extend losses in short-term.<\/p>\n

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Resistance level: 74.00, 74.70<\/p>\n

Support level: 73.25, 72.55<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the higher level. MACD which illustrate diminished bullish momentum suggests its price to extend its losses after closing below 1795.00.<\/p>\n

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Resistance level: 1813.00, 1830.00<\/p>\n

Support level: 1795.00, 1783.00<\/p>\n","protected":false},"excerpt":{"rendered":"

7 July 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\u00a0\u00a0 Morning Session Analysis   Greenback rose over bullish speculation. US dollar rebounds from its lower level on yesterday following bullish speculation among investors. Currently, investors are waiting for the release of Federal Reserve meeting minutes to gauge their perception and timeline of interest rate hike. Previously, several members of Fed have urged […]<\/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\/183787"}],"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=183787"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/183787\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=183787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=183787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=183787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}