{"id":260882,"date":"2022-07-28T00:35:33","date_gmt":"2022-07-28T00:35:33","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=260882"},"modified":"2022-07-28T00:35:33","modified_gmt":"2022-07-28T00:35:33","slug":"280722-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280722-morning-session-analysis\/","title":{"rendered":"280722 Morning Session Analysis"},"content":{"rendered":"

28 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 Morning Session Analysis<\/strong><\/p>\n

US Dollar slipped after Fed unleashed its rate hike decision.<\/strong><\/span><\/p>\n

The Dollar Index which traded against a basket of six major currencies slumped on Thursday after the Federal Reserve announced its interest rate decision. According to the FOMC meeting in the early day, Fed had raised its interest rate by 75 basis point to 2.50%, which meet the consensus forecast. As the second consecutive 0.75% rate hikes did not surprise the market participants as well as the market had already digested the information about the interest rate increase, it stoked a shift in sentiment toward other assets which having better prospects. Nonetheless, Federal Reserve Chairman Jerome Powell claimed that the central bank would highly focus on the economic data in order to determine future moves at the September meeting. On the economic data front, the Dollar Index extended its losses amid the bearish economic data. According to National Association of Realtors, the US Pending Home Sales MoM for June notched down from the previous reading of 0.4% to -8.6%, missing the market expectation of -1.5%. The downbeat economic data had dialed down the market optimism toward economy progression in the US. As of writing, the Dollar Index eased by 0.66% to 106.34.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price appreciated by 0.90% to $98.15 per barrel as of writing. The US Crude Oil Inventories had decreased by 4.523M, which more than the market forecast of -1.037M. In addition, the gold price surged by 0.98% to $1736.00 per troy ounce as of writing following the weakening 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\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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
20:30<\/td>\nUSD – GDP (QoQ) (Q2)<\/td>\n-1.60%<\/td>\n0.40%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n251K<\/td>\n253K<\/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 lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the index to extend its losses if successfully breakout the support level.<\/p>\n

 <\/p>\n

Resistance level: 107.30, 108.55<\/p>\n

Support level: 106.30, 105.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

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Resistance level: 1.2170, 1.2320<\/p>\n

Support level: 1.2030, 1.1870<\/p>\n

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\"\"<\/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: 1.0230, 1.0315<\/p>\n

Support level: 1.0160, 1.0075<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY 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: 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 while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains if successfully breakout the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.7005, 0.7075<\/p>\n

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

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD 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

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Resistance level: 0.6295, 0.6350<\/p>\n

Support level: 0.6235, 0.6185<\/p>\n

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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 if successfully breakout the support level.<\/p>\n

 <\/p>\n

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

Support level: 1.2800, 1.2730<\/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 increasing bearish momentum suggest the pair to extend its losses.<\/p>\n

 <\/p>\n

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

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

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\"\"<\/p>\n

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

 <\/p>\n

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

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

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\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1753.25, 1766.20<\/p>\n

Support level: 1737.30, 1718.90<\/p>\n","protected":false},"excerpt":{"rendered":"

28 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 Morning Session Analysis US Dollar slipped after Fed unleashed its rate hike decision. The Dollar Index which traded against a basket of six major currencies slumped on Thursday after the Federal Reserve announced its interest rate decision. According to the FOMC meeting in the early day, Fed had raised its interest rate […]<\/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\/260882"}],"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=260882"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/260882\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=260882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=260882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=260882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}