{"id":203469,"date":"2021-10-12T01:18:25","date_gmt":"2021-10-12T01:18:25","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=203469"},"modified":"2021-10-12T01:20:18","modified_gmt":"2021-10-12T01:20:18","slug":"121021-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/121021-morning-session-analysis\/","title":{"rendered":"121021 Morning Session Analysis"},"content":{"rendered":"

12 October 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\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar surged on hawkish expectation from Fed.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs surged yesterday amid surging energy prices had spurred stagflation fears in future, which stoked a shift in sentiment toward safe-haven asset such as US Dollar. Besides, the US 10-year Treasury yield hit a four-month high on Friday as market participants speculated that the US Federal Reserve will announce a tapering of its bond purchases next month. Contractionary monetary policy would reduce the money circulation in global financial market, which diminishing the inflation risk while increasing the appeal for the US Dollar. Nonetheless, investors as for now would continue to scrutinize the crucial inflation data from U.S. region this week to receive further trading signal. As of writing, the Dollar Index appreciated by 0.06% to 94.40.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price depreciated by 0.37% to $80.28 per barrel as of writing amid technical correction following its reached recent high. Nonetheless, the overall trend for the crude oil remained bullish amid rapid Covid vaccination program around the world had continued to be spurring positive prospect for the crude oil commodity. On the other hand, the gold price depreciated by 0.16% to $1751.35 per troy ounces amid strengthening 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 Market\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 Market\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\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Average Earnings Index +Bonus (Aug)<\/td>\n8.30%<\/td>\n7.00%<\/td>\n–<\/td>\n<\/tr>\n
14:00<\/td>\nGBP – Claimant Count Change (Sep)<\/td>\n-58.6K<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR – German ZEW Economic Sentiment (Oct)<\/td>\n26.5<\/td>\n24<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – JOLTs Job Openings (Aug)<\/td>\n10.934M<\/td>\n10.925M<\/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 higher while currently testing the resistance level at 94.25. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 94.40, 94.75<\/p>\n

Support level: 93.75, 93.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level at 1.3640. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.3550.<\/p>\n

 <\/p>\n

Resistance level: 1.3640, 1.3735<\/p>\n

Support level: 1.3550, 1.3415<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior retracement from the resistance level at 1.1585. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1525.<\/p>\n

 <\/p>\n

Resistance level: 1.1585, 1.1630<\/p>\n

Support level: 1.1525, 1.1455<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher following prior breakout above the previous resistance level at 112.30. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 114.00.<\/p>\n

 <\/p>\n

Resistance level: 114.00, 115.40<\/p>\n

Support level: 112.30, 110.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing 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: 0.7400, 0.7475<\/p>\n

Support level: 0.7320, 0.7235<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6925. 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: 0.6975, 0.7030<\/p>\n

Support level: 0.6925, 0.6860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2455. 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: 1.2580, 1.2685<\/p>\n

Support level: 1.2455, 1.2310<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9305. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9330.<\/p>\n

 <\/p>\n

Resistance level: 0.9305, 0.9375<\/p>\n

Support level: 0.9230, 0.9155<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 81.85. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 79.20.<\/p>\n

 <\/p>\n

Resistance level: 81.85, 83.05<\/p>\n

Support level: 79.20, 76.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level at 1746.00. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1768.05, 1780.65<\/p>\n

Support level: 1746.00, 1725.50<\/p>\n","protected":false},"excerpt":{"rendered":"

12 October 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\u00a0\u00a0 Morning Session Analysis   Dollar surged on hawkish expectation from Fed. The Dollar Index which traded against a basket of six major currency pairs surged yesterday amid surging energy prices had spurred stagflation fears in future, which stoked a shift in sentiment toward safe-haven asset such as US Dollar. Besides, the US […]<\/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\/203469"}],"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=203469"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/203469\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=203469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=203469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=203469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}