{"id":234302,"date":"2022-03-17T23:53:23","date_gmt":"2022-03-17T23:53:23","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=234302"},"modified":"2022-03-17T23:53:23","modified_gmt":"2022-03-17T23:53:23","slug":"180322-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180322-morning-session-analysis\/","title":{"rendered":"180322 Morning Session Analysis"},"content":{"rendered":"

18 March 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

Euro surged following the released of inflation data.<\/strong><\/span><\/p>\n

The Euro surged on yesterday over the backdrop of upbeat inflation data, which increasing the odds for the European Central Bank to be tightening the monetary policy in order to combat such high inflation risk. According to Eurostat, Eurozone Consumer Price Index (CPI) YoY notched up from the previous reading of 5.8% to 5.9% on year in February, exceeding the market forecast. The acceleration in the Eurozone\u2019s annual inflation rate had adds further evidence to a build-up in price pressures globally that is lasting longer than initially expected. High inflation risk would likely to prompt the European Central Bank to implement contractionary monetary policy as well as increase their interest rate, which diminishing the money circulation in the Europe market while spurring bullish momentum on Euro. As of writing, EUR\/USD surged 0.05% to 1.1095.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price rebounded 0.15% to $103.85 per barrel as of writing amid the rising tension between Russia-Ukraine had spurred fears upon the oil supply disruption. According to Azjazeera, Ukraine accused Russian forces of bombing a theatre sheltering civilians in the besieged southern city of Mariupol. On the other hand, the gold price appreciated by 0.04% to $1941.95 per troy ounces as of writing amid risk-off sentiment in the global financial market.<\/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

11:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 BoJ Monetary Policy Statement<\/p>\n

14:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 BoJ Press Conference<\/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>\nCAD – Core Retail Sales (MoM) (Jan)<\/td>\n-2.50%<\/td>\n-2.00%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD – Existing Home Sales (Feb)<\/td>\n6.50M<\/td>\n6.16M<\/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 lower following prior retracement from the resistance level. MACD which illustrated increasing bearish momentum suggest the index to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 99.35, 100.40<\/p>\n

Support level: 97.80, 96.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher while currently testing resistance level. MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3190, 1.3420<\/p>\n

Support level: 1.2915, 1.2755<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.1135, 1.1245<\/p>\n

Support level: 1.0980, 1.0820<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after breakout.<\/p>\n

 <\/p>\n

Resistance level: 118.90, 120.50<\/p>\n

Support level: 117.50, 116.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.7410, 0.7525<\/p>\n

Support level: 0.7250, 0.7180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level at 0.6895. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout.<\/p>\n

 <\/p>\n

Resistance level: 0.6895, 0.6965<\/p>\n

Support level: 0.6800, 0.6715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 1.2755, 1.2890<\/p>\n

Support level: 1.2620, 1.2485<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following prior retracement from the resistance level. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 0.9425, 0.9580<\/p>\n

Support level: 0.9310, 0.9115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 99.35. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains toward resistance level at 105.40.<\/p>\n

 <\/p>\n

Resistance level: 105.40, 111.60<\/p>\n

Support level: 99.35, 92.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1912.60. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains.<\/p>\n

 <\/p>\n

Resistance level: 1946.35, 1973.00<\/p>\n

Support level: 1912.60, 1881.35<\/p>\n

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

18 March 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis Euro surged following the released of inflation data. The Euro surged on yesterday over the backdrop of upbeat inflation data, which increasing the odds for the European Central Bank to be tightening the monetary policy in order to combat such high inflation risk. According to Eurostat, Eurozone Consumer Price […]<\/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\/234302"}],"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=234302"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/234302\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=234302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=234302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=234302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}