{"id":28612,"date":"2018-05-29T01:31:38","date_gmt":"2018-05-29T01:31:38","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=28612"},"modified":"2018-05-29T01:31:38","modified_gmt":"2018-05-29T01:31:38","slug":"290518-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290518-daily-analysis\/","title":{"rendered":"290518 Daily Analysis"},"content":{"rendered":"

29 May 2018\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

 <\/p>\n

Euro succumbed to political tempest.<\/strong><\/span><\/p>\n

Greenback remained fluoresce although two major markets were closed on yesterday following heightened political uncertainty in the European Union. The dollar index rose 0.24%, peaking at fresh 6 months high of 94.38 during Asian trading hours. Euro received tremendous selling pressure in the market after former IMF director Carlo Cottarelli was named as the stopgap Prime Minister of Italy. His appointment came amidst political and constitutional turmoil after two anti-establishment parties abandoned their plans to form a coalition following a veto from head of state to block the nomination of their choice for finance minister. Italy\u2019s political unrest alongside with graft allegation made upon Spanish\u2019s Prime Minister Mariano Rajoy may lead to a further setback on the union\u2019s economy and thus spooking off investors towards the single common currency. Pair of EUR\/USD was down 0.27% while hovering near six-months low of $1.1623.<\/p>\n

 <\/p>\n

As for commodities, crude oil price recovered its losses by 0.54% to $66.92 while gains remained limited as traders weighed the possibility of Organization of the Petroleum Exporting Countries (OPEC) and Russia in ceasing curbs on their daily production levels. Otherwise, gold price ticked down 0.03% to $1,297.50 as stronger dollar reduces the appeal of the commodity to holders of other currencies.<\/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

 <\/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

22:00\u00a0\u00a0\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 FOMC Member Bullard Speaks<\/p>\n

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Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (May)<\/td>\n128.7<\/td>\n128.2<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD remains traded within a descending triangle following prior retracement from the upper level. Diminishing upward momentum from MACD histogram may suggests further bearish bias. However, a successful breakout from the strong support at 1.3300 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1.3345, 1.3400<\/p>\n

Support level: 1.3300, 1.3215<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior breakout from the bottom level of descending wedge. Both MA lines which continues to expand downwards suggests the pair to advance further down, towards the direction of support level near 1.1600.<\/p>\n

 <\/p>\n

Resistance level: 1.1665, 1.1700<\/p>\n

Support level: 1.1600, 1.1500<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY has recently broke out from the bottom level of ascending channel, signaling a change in trend direction to move further downwards. MACD histogram which has formed a death cross signal suggests the pair to extend its losses after breaking the support level at 108.85.<\/p>\n

 <\/p>\n

Resistance level: 109.40, 110.00<\/p>\n

Support level: 108.85, 108.30<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following a rebound near the support level at 65.75. Diminishing downward momentum from MACD histogram may suggests the crude oil price to be traded higher in short-term as technical correction before extend its bearish bias for the mid-term.<\/p>\n

 <\/p>\n

Resistance level: 67.40, 68.30<\/p>\n

Support level: 65.75, 64.05<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remains traded in an uptrend while currently testing at the strong threshold of 1300.00. MACD histogram and Stochastic Oscillator which illustrate upward signal suggests bullish bias. However, a successful close above 1300.00 is required to attain further validation.<\/p>\n

 <\/p>\n

Resistance level: 1300.00, 1308.00<\/p>\n

Support level: 1296.00, 1288.50<\/p>\n

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

29 May 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis   Euro succumbed to political tempest. Greenback remained fluoresce although two major markets were closed on yesterday following heightened political uncertainty in the European Union. The dollar index rose 0.24%, peaking at fresh 6 months high of 94.38 during Asian trading hours. Euro received tremendous selling pressure in the […]<\/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\/28612"}],"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=28612"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/28612\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=28612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=28612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=28612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}