{"id":256098,"date":"2022-07-06T01:01:22","date_gmt":"2022-07-06T01:01:22","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=256098"},"modified":"2022-07-06T01:01:22","modified_gmt":"2022-07-06T01:01:22","slug":"060722-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/060722-morning-session-analysis\/","title":{"rendered":"060722 Morning Session Analysis"},"content":{"rendered":"

6 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

Recession sentiment keep lingering in the market, US Dollar surged.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currencies skyrocketed on Tuesday amid the backdrop of the rising market concern on economy recession. According to Bloomberg, the war-driven inflation in several countries had reach its all-time high, which brought negative prospects toward economic progression of the countries. Despite the major central banks had emphasized that they would likely to implement aggressive rate hike in order to bring down the spiking inflation, the aggressive move might also bring other side effects such as stagflation risk as the rate hike would likely to increase the borrowing cost of consumers. Thus, it prompted investors to shift their capitals toward safe-haven assets such as US Dollar. Besides, the market participants are also eyeing on the interest rate decisions from Federal Reserve in the upcoming meeting as Fed had vowed that they would take forcefully actions to tackle inflation if necessary, which sparkling the appeal of US Dollar. As of writing, the Dollar Index surged by 1.34% to 106.31.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price appreciated by 1.42% to $100.91 per barrel after a sharp decline throughout the overnight trading session over the market recession fears which dragged down the oil demand. On the other hand, gold price edged up by 0.16% to $1766.70 per troy ounces as of writing. Nonetheless, gold price slumped on yesterday following the surge 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

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 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\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Construction PMI (Jun)<\/td>\n56.4<\/td>\n55.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Non-Manufacturing PMI (Jun)<\/td>\n55.9<\/td>\n54.5<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – JOLTs Job Openings (May)<\/td>\n11.400M<\/td>\n11.050M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 106.95, 107.70<\/p>\n

Support level: 105.90, 105.25<\/p>\n

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\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout 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: 1.2010, 1.2115<\/p>\n

Support level: 1.1870, 1.1755<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD 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

 <\/p>\n

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

Support level: 1.0235, 1.0145<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY 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

 <\/p>\n

Resistance level: 136.65, 137.35<\/p>\n

Support level: 135.55, 134.25<\/p>\n

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\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.6850, 0.6930<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level. MACD which illustrated decreasing bearish 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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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD 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

 <\/p>\n

Resistance level: 1.3035, 1.3095<\/p>\n

Support level: 1.2940, 1.2875<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.9740, 0.9820<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support level. MACD which illustrated decreasing bearish momentum suggest the commodity to extend its gains.<\/p>\n

 <\/p>\n

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

Support level: 97.70, 93.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1771.10, 1785.90<\/p>\n

Support level: 1753.25, 1737.30<\/p>\n","protected":false},"excerpt":{"rendered":"

6 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 Recession sentiment keep lingering in the market, US Dollar surged. The Dollar Index which traded against a basket of six major currencies skyrocketed on Tuesday amid the backdrop of the rising market concern on economy recession. According to Bloomberg, the war-driven inflation in several countries had reach its all-time […]<\/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\/256098"}],"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=256098"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/256098\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=256098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=256098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=256098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}