{"id":28301,"date":"2018-05-22T01:03:55","date_gmt":"2018-05-22T01:03:55","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28301"},"modified":"2018-05-22T01:03:55","modified_gmt":"2018-05-22T01:03:55","slug":"220518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220518-daily-analysis\/","title":{"rendered":"220518 Daily Analysis"},"content":{"rendered":"

22 May 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

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Dollar-bull smitten as Euro rebounds sharply.<\/strong><\/span><\/p>\n

US dollar eased from its five-months peak as bullish support falters due to strong recovery of Euro from its multi-months low. The dollar index which measures its strength against a basket of six major currencies was down 0.15% to 93.40 as of writing. During yesterday\u2019s Asian session, the greenback received some bullish support following US Treasury Steven Mnuchin call for a pause on the US-China trade war, triggering a short-term wave of buybacks on the dollar against the safe-haven Japanese yen. However, the dollar turned bearish as we entered into the North American session after investors returned to the Euro equity market which received a large selloff due to higher political risk which stemmed from Italy. The formation of coalition government between Five-Star Movement and League that proposes large sum of fiscal spending agitated investors which may jeopardize Italy\u2019s sovereign credit rating. Pairing of EUR\/USD was traded flat at around $1.1791 during Asian trading session.<\/p>\n

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Peering into the commodities market, crude oil price was down 0.19% to $72.42 per barrel as investors begin to cash in their profit after peaking at fresh three-and-a-half-years high of $72.65 on yesterday. The bullish momentum was evoked after last weekend\u2019s election in Venezuela is viewed as illegitimate while raising the prospect of US sanctions to be imposed on the country\u2019s oil export. Otherwise, gold price extended gains by 0.03% to $1,292.61 a troy ounce over the backdrop of a weaker 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 \u00a0Event<\/strong><\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 HKD\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 Hong Kong \u2013 The Birthday of the Buddha<\/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 <\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>Event<\/strong><\/p>\n

16:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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 BoE Gov Carney Speaks<\/p>\n

17:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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 Inflation Report Hearings<\/p>\n

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

Today\u2019s Highlight Economy 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
18:00<\/td>\nGBP \u2013 CBI Industrial Trends Orders (May)<\/td>\n4<\/td>\n2<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Wholesale Sales (MoM) (Mar)<\/td>\n-0.8%<\/td>\n0.9%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n4.854M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the psychological support of 1.3400. MACD histogram which illustrate diminishing downward momentum may suggests the pair to be traded higher in short-term as technical correction before extending its losses in tandem with the current major downward trendline.<\/p>\n

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Resistance level: 1.3505, 1.3600<\/p>\n

Support level: 1.3400, 1.3245<\/p>\n

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

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level of 1.1725. Recent formation of upward signal from the MACD histogram may suggest the pair to extend its gains in short-term after successfully breaking the resistance level at 1.1790. Otherwise, long-term trend direction is still skewed towards bearish.<\/p>\n

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Resistance level: 1.1790, 1.1870<\/p>\n

Support level: 1.1725, 1.1665<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement and closure below the threshold of 111.00. Recent formation of negative divergence signal from MACD histogram may suggest the pair to extend its losses after successfully closing below the 20-MA line (red).<\/p>\n

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Resistance level: 111.00, 111.65<\/p>\n

Support level: 110.55, 109.90<\/p>\n

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

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price extended its major bullish trending following prior rebound from the 20-MA line (red). Both MA line which continues to expand upwards suggests the commodity price to advance further up, towards the target of resistance level near 73.80.<\/p>\n

 <\/p>\n

Resistance level: 73.80, 77.75<\/p>\n

Support level: 68.60, 66.10<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price re-entered into the sideways channel following prior rebound from the support level of 1282.50. Recent formation of upward signal from MACD histogram may suggests the commodity price to advance further up in short-term, towards the direction of resistance level near 1295.70.<\/p>\n

 <\/p>\n

Resistance level: 1295.70, 1301.90<\/p>\n

Support level: 1287.50, 1282.50<\/p>\n","protected":false},"excerpt":{"rendered":"

22 May 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Dollar-bull smitten as Euro rebounds sharply. US dollar eased from its five-months peak as bullish support falters due to strong recovery of Euro from its multi-months low. The dollar index which measures its strength against a basket of six major currencies was down 0.15% to 93.40 as of writing. […]<\/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\/28301"}],"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=28301"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28301\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}