{"id":193509,"date":"2021-08-24T01:19:16","date_gmt":"2021-08-24T01:19:16","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=193509"},"modified":"2021-08-24T01:19:16","modified_gmt":"2021-08-24T01:19:16","slug":"240821-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/240821-morning-session-analysis\/","title":{"rendered":"240821 Morning Session Analysis"},"content":{"rendered":"

24 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 risk-on mood.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs slumped on Monday, after posting its biggest weekly rise in more than two-month last week amid gains in global equity markets boosted risk sentiment, prompting investors to shift their portfolio from safe-haven asset such as US Dollar into another riskier asset. Though, the losses experienced by the US Dollar was limited over the backdrop of bullish economic data. According to National Association of Realtor, U.S. Existing Home Sales for last month had increased from the preliminary reading of 5.87M to 5.99M, better than the market forecast at 5.83M. Meanwhile, the investors would continue to scrutinize the latest updates from the Federal Reserve during the Fed\u2019s central conference in Jackson Hole later this week 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 appreciated by 0.05% to 93.01.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price surged 0.08% to $65.75 per barrel as of writing. The oil market rebounded significantly amid the positive prospect toward the Covid-19 development. According to Reuters, China reported no new locally transmitted cases of Covid-19 on Monday for the first time since July, a sign the current outbreak may be waning amid China\u2019s tough anti-virus measures across the country. On the other hand, the gold market appreciated by 0.05% to $1803.35 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\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nEUR – German GDP (QoQ) (Q2)<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – New Home Sales (Jul)<\/td>\n676K<\/td>\n690K<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

T<\/u><\/strong>echnical 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 diminishing bullish momentum suggest the index to be traded lower in short-term as technical correction.<\/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 1.3730. 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: 1.3730, 1.3805<\/p>\n

Support level: 1.3605, 1.3415<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1705. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1775.<\/p>\n

 <\/p>\n

Resistance level: 1.1775, 1.1850<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing the support level at 109.75. 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: 110.55, 111.10<\/p>\n

Support level: 109.75, 109.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebounded from the support level at 0.7115. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.7240.<\/p>\n

 <\/p>\n

Resistance level: 0.7240, 0.7375<\/p>\n

Support level: 0.7115, 0.7000<\/p>\n

\u00a0<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

\"\"<\/strong><\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.6815. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6930.<\/p>\n

 <\/p>\n

Resistance level: 0.6930, 0.7120<\/p>\n

Support level: 0.6765, 0.6675<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2650. 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: 1.2780, 1.2935<\/p>\n

Support level: 1.2650, 1.2580<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower while currently testing the support level at 0.9125. 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: 0.9125, 0.9035<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 65.80. MACD which illustrated increasing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 65.80, 68.00<\/p>\n

Support level: 63.55, 61.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1794.30. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 1812.50.<\/p>\n

 <\/p>\n

Resistance level: 1812.50, 1833.70<\/p>\n

Support level: 1794.30, 1773.35<\/p>\n

 <\/p>\n

 <\/p>\n

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

24 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 risk-on mood. The Dollar Index which traded against a basket of six major currency pairs slumped on Monday, after posting its biggest weekly rise in more than two-month last week amid gains in global equity markets boosted risk sentiment, prompting investors to shift their portfolio from […]<\/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\/193509"}],"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=193509"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/193509\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=193509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=193509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=193509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}