{"id":191795,"date":"2021-08-16T01:12:32","date_gmt":"2021-08-16T01:12:32","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=191795"},"modified":"2021-08-16T01:12:32","modified_gmt":"2021-08-16T01:12:32","slug":"160821-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160821-morning-session-analysis\/","title":{"rendered":"160821 Morning Session Analysis"},"content":{"rendered":"

16 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

Dollar slumped amid negative data.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs slumped significantly over the backdrop of bearish economic data from United States last week. According to University of Michigan, U.S. Michigan Consumer Sentiment declined from the previous reading of 81.2 to 70.2, missing the market forecast at 81.2. Such reading was the lowest level since 2011 and one of the six largest drops in the past 50 years of the survey. As for now, investors would continue to scrutinize the latest updates from the Federal Reserve during the Fed\u2019s central bank conference in Jackson Hole, Wyoming, later this month to receive further trading signal. Market participants expected that Federal Reserve Chair Jerome Powell may provide further clarity on the sequencing of Fed\u2019s monetary policy plan in order to stabilize the economic growth. As of writing, the Dollar Index depreciated by 0.55% to 92.50.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 1.32% to $68.10 per barrel as of writing. The oil market edged lower amid the spiking numbers of the Delta variants around the world had continue to spur negative prospect for the crude oil price in future. On the other hand, the gold price appreciated by 1.53% to $1779.80 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

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, Daily: <\/strong>Dollar index was traded lower following prior retracement from the resistance level at 93.25. MACD which illustrated increasing bearish momentum suggest the index to extend its losses toward support level at 91.80.<\/p>\n

 <\/p>\n

Resistance level: 92.25, 92.65<\/p>\n

Support level: 91.80, 90.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3880. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3880, 1.3980<\/p>\n

Support level: 1.3805, 1.3740<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1705. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1850.<\/p>\n

 <\/p>\n

Resistance level: 1.1850, 1.1955<\/p>\n

Support level: 1.1705, 1.1635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 109.75. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 109.20.<\/p>\n

 <\/p>\n

Resistance level: 109.75, 110.55<\/p>\n

Support level: 109.20, 108.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently near the support level at 0.7320. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.7410, 0.7495<\/p>\n

Support level: 0.7320, 0.7240<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6915. 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: 0.7120, 0.7305<\/p>\n

Support level: 0.6915, 0.6770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.2585. 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: 1.2585, 1.2670<\/p>\n

Support level: 1.2440, 1.2315<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing the support level at 0.145. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9230, 0.9305<\/p>\n

Support level: 0.9165, 0.9035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 68.00. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 66.25.<\/p>\n

 <\/p>\n

Resistance level: 68.00, 69.85<\/p>\n

Support level: 66.25, 65.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1788.50. MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1788.50, 1812.50<\/p>\n

Support level: 1773.35, 1756.10<\/p>\n

 <\/p>\n

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

16 August 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis Dollar slumped amid negative data. The Dollar Index which traded against a basket of six major currency pairs slumped significantly over the backdrop of bearish economic data from United States last week. According to University of Michigan, U.S. Michigan Consumer Sentiment declined from the previous reading of 81.2 to […]<\/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\/191795"}],"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=191795"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/191795\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=191795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=191795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=191795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}