{"id":188667,"date":"2021-07-30T00:51:23","date_gmt":"2021-07-30T00:51:23","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=188667"},"modified":"2021-07-30T00:51:23","modified_gmt":"2021-07-30T00:51:23","slug":"300721-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/300721-morning-session-analysis\/","title":{"rendered":"300721 Morning Session Analysis"},"content":{"rendered":"

30 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

 <\/p>\n

Greenback slumps further as data disappoints.<\/strong><\/span><\/p>\n

Greenback extended its losses against other major currencies following the release of bearish economic data from yesterday. For the second quarter, Gross Domestic Product (GDP rose only 6.5%, significantly lower than forecast of 8.5%. The lower-than-expected reading came in over the backdrop of low government spending, which depreciated by 5% although budget deficit in the US is on the rise. The data has cemented Federal Reserve\u2019s call to maintain loose monetary policy for longer period to achieve sustainable economic recovery due to lingering coronavirus risks in the market. Following the release of GDP, investors dialed down their expectation for an interest rate hike by end of the year. According to Fed Rate Monitor Tool, market expectation for an interest rate hike depreciated from 10.0% to 6.7% for the month of December. As of writing, the dollar index extended its losses by 0.02% to 91.89 during Asian trading session.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price was down 0.09% to $73.06 per barrel. Oil price began to experience technical correction from its higher levels after extending its gains since early of the week. Otherwise, gold price was up 0.09% to $1,890.19 a troy ounce over the backdrop of weaker greenback.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:00<\/td>\nEUR \u2013 German GDP (QoQ) (Q2)<\/td>\n–<\/td>\n2.0%<\/td>\n-1.8%<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Jul)<\/td>\n–<\/td>\n2.0%<\/td>\n1.9%<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (May)<\/td>\n–<\/td>\n-0.3%<\/td>\n-0.3%<\/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 extended its losses after closing below 92.30. MACD which illustrate bearish signal suggests the index to extend losses after closing below 91.80.<\/p>\n

 <\/p>\n

Resistance level: 92.05, 92.30<\/p>\n

Support level: 91.80, 91.60<\/p>\n

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior closure above 1.3885. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 1.3990.<\/p>\n

 <\/p>\n

Resistance level: 1.3990, 1.4105<\/p>\n

Support level: 1.3885, 1.3800<\/p>\n

 <\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout from 1.1870. MACD which illustrated bullish momentum suggest the pair to extend its gains in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.1915, 1.1955<\/p>\n

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

 <\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout from 109.75. MACD which illustrated bearish momentum suggests the pair to be traded lower after closing below 109.40.<\/p>\n

 <\/p>\n

Resistance level: 109.75, 110.15<\/p>\n

Support level: 109.40, 109.05<\/p>\n

 <\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following a rebound from lower levels. MACD which shows bullish momentum suggests the pair to extend its gains after breaking the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7400, 0.7450<\/p>\n

Support level: 0.7335, 0.7300<\/p>\n

 <\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the lower levels. MACD which illustrate bullish momentum suggests the pair to extend its gains in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.7035, 0.7085<\/p>\n

Support level: 0.7000, 0.6965<\/p>\n

 <\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout from the support level of 1.2540. MACD which illustrated bearish momentum suggest the pair to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2490, 1.2540<\/p>\n

Support level: 1.2440, 1.2405<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout from 0.9065. MACD which illustrate bearish momentum suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9065, 0.9105<\/p>\n

Support level: 0.9030, 0.9010<\/p>\n

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the higher level. MACD which shows diminished bullish momentum suggests its price to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 73.50, 74.40<\/p>\n

Support level: 72.40, 71.00<\/p>\n

 <\/p>\n

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GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the higher level. MACD which illustrate bearish momentum suggests its price to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1831.00, 1835.00<\/p>\n

Support level: 1825.10, 1920.30<\/p>\n

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

30 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   Greenback slumps further as data disappoints. Greenback extended its losses against other major currencies following the release of bearish economic data from yesterday. For the second quarter, Gross Domestic Product (GDP rose only 6.5%, significantly lower than forecast of 8.5%. The lower-than-expected reading came in over the backdrop […]<\/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\/188667"}],"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=188667"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/188667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=188667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=188667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=188667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}