{"id":221884,"date":"2022-01-12T00:59:10","date_gmt":"2022-01-12T00:59:10","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=221884"},"modified":"2022-01-12T00:59:10","modified_gmt":"2022-01-12T00:59:10","slug":"120122-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120122-morning-session-analysis\/","title":{"rendered":"120122 Morning Session Analysis"},"content":{"rendered":"

12 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Powell testimony pushes greenback lower.<\/strong><\/span><\/p>\n

US dollar tumbles further on yesterday as market participants reacts negatively upon testimony in front of US Congress. In the testimony, Fed Chair Jerome Powell emphasized that they will control rising price of goods which surpasses their targeted rate of 2%. Likewise, Powell revealed that monetary policy tightening will include raising their interest rates as well reducing assets on hold in hopes to control overall economy from derailing due to high inflationary pressure. While monetary policy tightening will have negative impact upon economic momentum, Powell reassures that they will balance it out in between economic growth and inflation. His remarks have eased market speculation that Fed will focus solely on inflation in setting their monetary policy, triggering a selloff in both US dollar and US Treasury. As of writing, dollar index was down by 0.01% to 95.54 during Asian trading session.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price was up by 0.03% to $81.26 per barrel. Oil price rose almost 4% on yesterday as the market expects lower impact from Omicron variant due to its mild nature when compared to Delta. On the other hand, gold price was up 0.01% to $1,821.11 a troy ounce due to weaker greenback.<\/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
21:30<\/td>\nUSD – Core CPI (MoM) (Dec)<\/td>\n0.50%<\/td>\n0.50%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL – Crude Oil Inventories<\/td>\n-2.144M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from higher levels. MACD which illustrate bearish signal suggests the index to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 95.65, 95.85<\/p>\n

Support level: 95.35, 95.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to be traded higher after breaking its resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3630, 1.3690<\/p>\n

Support level: 1.3570, 1.3510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from lower level. MACD which illustrate bullish signal suggests the pair to be traded higher after breaking its resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1370, 1.1440<\/p>\n

Support level: 1.1320, 1.1285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior retracement from higher levels. MACD which illustrate bearish momentum suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 115.40, 116.25<\/p>\n

Support level: 114.55, 113.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.7225, 0.7280<\/p>\n

Support level: 0.7180, 0.7140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher after breaking its resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6780, 0.6830<\/p>\n

Support level: 0.6740, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from higher levels. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.2620, 1.2690<\/p>\n

Support level: 1.2545, 1.2485<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from higher level. MACD which illustrate bearish signal suggests the pair to be traded lower after breaking its support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9255, 0.9280<\/p>\n

Support level: 0.9230, 0.9210<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from lower levels. MACD which illustrate bullish signal suggests its price to be traded higher after breaking the top level of upward channel.<\/p>\n

 <\/p>\n

Resistance level: 82.65, 84.60<\/p>\n

Support level: 80.15, 77.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1830.20, 1850.00<\/p>\n

Support level: 1812.80, 1797.60<\/p>\n","protected":false},"excerpt":{"rendered":"

12 January 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Powell testimony pushes greenback lower. US dollar tumbles further on yesterday as market participants reacts negatively upon testimony in front of US Congress. In the testimony, Fed Chair Jerome Powell emphasized that they will control rising price of goods which surpasses their targeted rate of 2%. Likewise, Powell […]<\/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\/221884"}],"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=221884"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/221884\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=221884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=221884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=221884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}