{"id":211907,"date":"2021-11-25T01:03:55","date_gmt":"2021-11-25T01:03:55","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=211907"},"modified":"2021-11-25T01:14:44","modified_gmt":"2021-11-25T01:14:44","slug":"251121-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/251121-morning-session-analysis\/","title":{"rendered":"251121 Morning Session Analysis"},"content":{"rendered":"

25 November 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar surged amid positive economic data.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currency pairs surged significantly amid upbeat economic data. According to Department of Labor, US Initial Jobless Claims last week eased from the previous reading of 270K to 199K, better than the market forecast at 260K. The fell of new claims filed for unemployment benefits to the lowest level since 1969 indicated that momentum of economy remains sustain despite encountering supply shortages and unending pandemic winds down. According to Reuters, the plunge in jobless claims is consistent with data on retail sales and manufacturing production hence suggested the economy was regaining its momentum in the fourth quarter. Otherwise, US GDP in third quarter showed a moderate growth pace, with the figures came at the reading of 2.1%, lower than the market forecast at 2.2%. However, market speculated that the consumer spending appears to have regained its momentum as the retail sales surged last month as consumers kicked off their holiday shopping earlier to avoid shortages and paying even more for scarce goods. As of writing, the Dollar Index appreciated by 0.01% to 96.80.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price slumped 0.16% to $78.35 as of writing amid bearish oil inventory data. According to Energy Information Administration, U.S. Crude Oil Inventories came at the reading of 1.017M, worse than the market forecast at -0.481M. On the other hand, the gold price slumped 0.05% to $1787.95 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\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

All Day\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Thanksgiving Day<\/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

20:30\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB Publishes Account of Monetary Policy Meeting<\/p>\n

21:30\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB President Lagarde Speaks<\/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
15:00<\/td>\n\u00a0EUR – German GDP (QoQ) (Q3)<\/td>\n1.80%<\/td>\n1.80%<\/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 following closure above 96.50. However, MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 96.85, 97.20<\/p>\n

Support level: 96.50, 96.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3355, 1.3410<\/p>\n

Support level: 1.3290, 1.3220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher after closing above 1.1210.<\/p>\n

 <\/p>\n

Resistance level: 1.1210, 1.1285<\/p>\n

Support level: 1.1140, 1.1065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in mid-term.<\/p>\n

 <\/p>\n

Resistance level: 115.70, 116.20<\/p>\n

Support level: 114.90, 114.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower following prior closure below 0.7210. However, MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7210, 0.7275<\/p>\n

Support level: 0.7170, 0.7105<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior closure below 0.6900. However, MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6900, 0.6955<\/p>\n

Support level: 0.6865, 0.6805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from higher level. MACD which forms bearish signal suggests the pair to be traded lower after a closure below 1.2660.<\/p>\n

 <\/p>\n

Resistance level: 1.2725, 1.2775<\/p>\n

Support level: 1.2660, 1.2590<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower following prior closure below 0.9345. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9345, 0.9365<\/p>\n

Support level: 0.9325, 0.9305<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 78.80, 79.95<\/p>\n

Support level: 77.40, 76.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from lower level. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1799.70, 1817.15<\/p>\n

Support level: 1782.25, 1760.65<\/p>\n","protected":false},"excerpt":{"rendered":"

25 November 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 Morning Session Analysis   Dollar surged amid positive economic data. The Dollar Index which traded against a basket of six major currency pairs surged significantly amid upbeat economic data. According to Department of Labor, US Initial Jobless Claims last week eased from the previous reading of 270K to 199K, better than the […]<\/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\/211907"}],"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=211907"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/211907\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=211907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=211907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=211907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}