{"id":255458,"date":"2022-07-04T00:51:56","date_gmt":"2022-07-04T00:51:56","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=255458"},"modified":"2022-07-04T00:51:56","modified_gmt":"2022-07-04T00:51:56","slug":"040722-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040722-morning-session-analysis\/","title":{"rendered":"040722 Morning Session Analysis"},"content":{"rendered":"

4 July 2022\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

Inflation keep hovering in Eurozone, EURUSD surged.<\/strong><\/span><\/p>\n

EURUSD, which traded by major investors rebounded from its recent low on last Friday amid the backdrop of bullish economic data. According to Eurostat, the Eurozone Consumer Price Index (CPI) YoY for June notched up from the previous reading of 8.1% to 8.6% while exceeding the market forecast of 8.4%. The CPI data was used as an indicator to determine the inflation rate in certain region, and the higher-than-expected reading had showed that the inflation risk still linger in the European. The European Central Bank (ECB) would likely to implement aggressive contractionary monetary policy in order to bring down the soaring inflation, sparkling the appeal of Euro. Last week, ECB President Christine Lagarde vowed that the central bank would increase interest rate for the first in 11 years to combat inflation risk. Investors would continue to focus on the latest updates with regards of rate hike decision from ECB in order to gauge the likelihood movement of EURUSD. As of writing, EURUSD appreciated by 0.06% to 1.0434.<\/p>\n

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In the commodities market, crude oil price eased by 0.08% to $108.35 per barrel as of writing. Nonetheless, the overall trend of oil price remained bullish over the rising concerns on oil supply tightness. On the other hand, gold price rallied by 0.52% to $1810.90 per troy ounces as of writing following the depreciation of US Dollar.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 United States \u2013 Independence Day<\/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

N\/A<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

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

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

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Resistance level: 104.80, 105.90<\/p>\n

Support level: 103.65, 102.50<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains if successfully breakout the resistance level.<\/p>\n

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Resistance level: 1.2115, 1.2190<\/p>\n

Support level: 1.2010, 1.1870<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing the resistance level. MACD which illustrated decreasing bearish momentum suggest the pair to extend its gains if successfully breakout the resistance level.<\/p>\n

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Resistance level: 1.0450, 1.0530<\/p>\n

Support level: 1.0385, 1.0315<\/p>\n

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below the previous support level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

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Resistance level: 135.55, 136.65<\/p>\n

Support level: 134.25, 133.10<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level. MACD which illustrated decreasing bearish momentum suggest the pair to extend it gains.<\/p>\n

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Resistance level: 0.6850, 0.6910<\/p>\n

Support level: 0.6770, 0.6665<\/p>\n

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

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Resistance level: 0.6235, 0.6295<\/p>\n

Support level: 0.6145, 0.6060<\/p>\n

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

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Resistance level: 1.2940, 1.3030<\/p>\n

Support level: 1.2875, 1.2800<\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below the previous support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 0.9595, 0.9675<\/p>\n

Support level: 0.9520, 0.9455<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level. However, MACD which illustrated decreasing bearish momentum suggest the commodity to be traded higher as technical correction.<\/p>\n

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Resistance level: 111.35, 115.95<\/p>\n

Support level: 107.60, 103.30<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the support level. However, MACD which illustrated increasing bullish momentum suggest the commodity to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1819.70, 1829.90<\/p>\n

Support level: 1807.95, 1798.50<\/p>\n","protected":false},"excerpt":{"rendered":"

4 July 2022\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 Inflation keep hovering in Eurozone, EURUSD surged. EURUSD, which traded by major investors rebounded from its recent low on last Friday amid the backdrop of bullish economic data. According to Eurostat, the Eurozone Consumer Price Index (CPI) YoY for June notched up from the previous reading of 8.1% to […]<\/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\/255458"}],"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=255458"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/255458\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=255458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=255458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=255458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}