{"id":215474,"date":"2021-12-09T23:58:22","date_gmt":"2021-12-09T23:58:22","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=215474"},"modified":"2021-12-09T23:58:22","modified_gmt":"2021-12-09T23:58:22","slug":"101221-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/101221-morning-session-analysis\/","title":{"rendered":"101221 Morning Session Analysis"},"content":{"rendered":"

10 December 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

Pound Sterling slumped amid fears upon Covid-19 restrictions.<\/strong><\/span><\/p>\n

The Pound Sterling extend its losses yesterday following the British Prime Minister Boris Johnson imposed tougher Covid-19 restrictions in England, mandating people to work from home and the face masks would be legal requirement in most public indoor areas, with exemptions for eating and drinking in hospitality venues. There will be vote in parliament on the restrictions next week, with the government expected to face a substantial rebellion. With government experts warning of an estimated 10,000 UK Omicron infections currently, the infections would be rising to 1 million by the end of the month and up to 2,000 hospital admission per day. The implementation of the Covid-19 restriction would affect the business momentum in the United Kingdom, dialled down the economic progression in the country. As of writing, GBP\/USD depreciated by 0.03% to 1.3220.<\/p>\n

In the commodities market, the crude oil price slumped 0.05% to $71.00 per barrel as of writing. The oil market edged lower amid fears upon the Covid-19 restrictions from the UK region would continue to diminish the market demand on this black-commodity. On the other hand, the gold price dipped 0.03% to $1775.85 per troy ounces as of writing amid market participants speculated the Federal Reserve has higher odds to taper its monetary policy in short-term basis.<\/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

17:05\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB President Lagarde Speaks<\/p>\n

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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
15:00<\/td>\nGBP – GDP (MoM)<\/td>\n0.60%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
15:00<\/td>\nGBP – Manufacturing Production (MoM) (Oct)<\/td>\n0.10%<\/td>\n0.10%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD – Core CPI (MoM) (Nov)<\/td>\n0.60%<\/td>\n0.50%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

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DOLLAR_INDX, H1: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 96.05. However, 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: 96.35, 96.80<\/p>\n

Support level: 96.05, 95.75<\/p>\n

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the support level at 1.3195. 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: 1.3355, 1.3505<\/p>\n

Support level: 1.3195, 1.3050<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level at 1.1370. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 1.1175.<\/p>\n

 <\/p>\n

Resistance level: 1.1370, 1.1530<\/p>\n

Support level: 1.1175, 1.1010<\/p>\n

 <\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 112.80. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains toward resistance level at 114.40.<\/p>\n

 <\/p>\n

Resistance level: 114.40, 115.40<\/p>\n

Support level: 112.80, 112.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7175. 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: 0.7175, 0.7280<\/p>\n

Support level: 0.6995, 0.6825<\/p>\n

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

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

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6815. 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: 0.6815, 0.6950<\/p>\n

Support level: 0.6640, 0.6530<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.2720. 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: 1.2720, 1.2825<\/p>\n

Support level: 1.2645, 1.2585<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9260. 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: 0.9260, 0.9315<\/p>\n

Support level: 0.9155, 0.9090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 72.55. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses toward support level at 69.15.<\/p>\n

 <\/p>\n

Resistance level: 72.55, 75.60<\/p>\n

Support level: 69.15, 65.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower while currently testing the support level at 1774.80. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1790.00, 1802.20<\/p>\n

Support level: 1774.80, 1762.20<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

10 December 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 Pound Sterling slumped amid fears upon Covid-19 restrictions. The Pound Sterling extend its losses yesterday following the British Prime Minister Boris Johnson imposed tougher Covid-19 restrictions in England, mandating people to work from home and the face masks would be legal requirement in most public indoor areas, with exemptions […]<\/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\/215474"}],"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=215474"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/215474\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=215474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=215474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=215474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}