{"id":184897,"date":"2021-07-13T01:08:15","date_gmt":"2021-07-13T01:08:15","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=184897"},"modified":"2021-07-13T01:08:15","modified_gmt":"2021-07-13T01:08:15","slug":"130721-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130721-morning-session-analysis\/","title":{"rendered":"130721 Morning Session Analysis"},"content":{"rendered":"

13 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 Morning Session Analysis<\/strong><\/p>\n

Dollar was traded flat ahead of crucial data.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs was remained flat amid market participants still wait for crucial inflation data and Federal Reserve monetary policy to gauge the likelihood movement for the US Dollar. Analysts suggested that rising price pressures may prompt the Federal Reserve to be tightening its monetary policy plan sooner than expected. Contractional monetary policy would decrease the money circulation in the US financial market, which spurring bullish momentum on the US Dollar. Besides, Fed Chair Jerome Powell\u2019s semi-annual testimony to Congress on Wednesday and Thursday could provide further signal with regards of the stance on monetary policy from Federal Reserve. Nonetheless, the overall sentiment from the Federal Reserve remained vague, investors would continue to scrutinize the latest updates with regards of Fed\u2019s statement as well as further crucial economic data to receive further trading signal. As of writing, the Dollar Index depreciated by 0.01% to 92.20.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.05% to $74.40 per barrel as of writing. The oil market edged lower over the concerns of spiking numbers of Covid-19 infections would be spurring negative prospect for the economic recovery in future. On the other hand, the gold price was traded flat at $1808.30 per troy ounces as of writing amid market participants still wait for further catalyst before entering the safe-haven market.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Core CPI (MoM) (Jun)<\/td>\n0.7%<\/td>\n0.4%<\/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 the support level at 92.00. 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: 92.65, 93.25<\/p>\n

Support level: 92.00, 91.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.3750. 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: 1.3960, 1.4100<\/p>\n

Support level: 1.3750, 1.3565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1850. 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: 1.1850, 1.1725<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 109.75. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 110.45.<\/p>\n

 <\/p>\n

Resistance level: 110.45, 110.95<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7440. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7590.<\/p>\n

 <\/p>\n

Resistance level: 0.7590, 0.7700<\/p>\n

Support level: 0.7440, 0.7285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6940. 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: 0.7120, 0.7305<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.2495. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.2360.<\/p>\n

 <\/p>\n

Resistance level: 1.2495, 1.2605<\/p>\n

Support level: 1.2360, 1.2275<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9165. 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: 0.9165, 0.9230<\/p>\n

Support level: 0.9095, 0.9035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level at 72.45. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 74.15.<\/p>\n

 <\/p>\n

Resistance level: 74.15, 75.05<\/p>\n

Support level: 72.45, 71.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level at 1813.05. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1813.05, 1832.25<\/p>\n

Support level: 1788.95, 1773.45<\/p>\n","protected":false},"excerpt":{"rendered":"

13 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 Morning Session Analysis Dollar was traded flat ahead of crucial data. The Dollar Index which traded against a basket of six major currency pairs was remained flat amid market participants still wait for crucial inflation data and Federal Reserve monetary policy to gauge the likelihood movement for the US Dollar. Analysts suggested […]<\/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\/184897"}],"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=184897"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/184897\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=184897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=184897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=184897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}