{"id":30141,"date":"2018-07-04T01:08:14","date_gmt":"2018-07-04T01:08:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=30141"},"modified":"2018-07-04T01:08:14","modified_gmt":"2018-07-04T01:08:14","slug":"040718-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040718-daily-analysis\/","title":{"rendered":"040718 Daily Analysis"},"content":{"rendered":"

4 July 2018\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 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar losses steam as Euro reconcile.<\/strong><\/span><\/p>\n

US dollar edges lower on Wednesday following a sharp rebound in Euro after German Chancellor Angela Merkel averted an imminent split of her fragile coalition government by reaching a compromise within party members. Overnight, Merkel resolved a row over migration policy after achieving consensus with Interior Minister Horst Seehofer to tighten border controls and setting up closed holding centers to allow faster processing of asylum seekers and remove those whom are not qualified. However, losses on the greenback were capped following the release of better-than-expected economic data from the United States. According to Commerce Department, US factory orders grew by 0.4% during the month of May, a tad higher than economist forecast of only 0.1%. Overall, trading volumes were subdued as market participants reduces their position ahead of US Independence Day where financial market will be closed for trading. As of writing, dollar index settled down 0.46% to 94.35 while pair of EUR\/USD rose 0.02% to $1.1660.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price pared its losses by 0.42% to $74.69 per barrel following a sharp plunge from the psychological level at $75.00 on yesterday. Bearish momentum was evoked on yesterday after Saudi Arabia agreed to US President Donald Trump demand to increase their daily production in order to stabilize the oil market. Otherwise, gold price recovered its losses by 0.07% to $1,253.78 a troy ounce following broad weakness on the greenback.<\/p>\n

 <\/p>\n

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 \u00a0Independence 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

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\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
09:30<\/td>\nAUD \u2013 Retail Sales (MoM) (May)<\/td>\n0.4%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
09:45<\/td>\nCNY \u2013 Caixin Services PMI (Jun)<\/td>\n52.9<\/td>\n52.7<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Services PMI (Jun)<\/td>\n53.9<\/td>\n53.9<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI (Jun)<\/td>\n54.0<\/td>\n53.9<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior breakout from the top level of narrowing triangle. Recent price action while couples with both MA line which shows bullish signal suggests the pair to extend its gains, towards the direction of resistance level at 1.3235.<\/p>\n

 <\/p>\n

Resistance level: 1.3235, 1.3290<\/p>\n

Support level: 1.3185, 1.3150<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded higher following prior breakout from the top level of narrowing triangle. Both MA line which continues to expand upward suggest the pair to advance further up, towards the direction of resistance level at 1.1680.<\/p>\n

 <\/p>\n

Resistance level: 1.1680, 1.1710<\/p>\n

Support level: 1.1640, 1.1590<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY extended its losses following prior retracement from the resistance level of 111.05. MACD histogram which illustrate ongoing bearish bias suggests the pair to extend its losses towards the direction of 110.30.<\/p>\n

 <\/p>\n

Resistance level: 110.55, 111.05<\/p>\n

Support level: 110.30, 110.00<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1:<\/strong> Crude oil price was traded higher following prior rebound while recently re-entered into the ascending channel. MACD histogram which illustrate the formation of golden cross suggests further bullish signal. However, a close above 74.90 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 74.90, 76.10<\/p>\n

Support level: 72.80, 71.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior breakout from the top level of descending channel. Both MA line which forms a golden cross signal suggests the commodity price to extend its gains, towards the direction of resistance level at 1260.00.<\/p>\n

 <\/p>\n

Resistance level: 1260.00, 1267.00<\/p>\n

Support level: 1254.00, 1249.15<\/p>\n","protected":false},"excerpt":{"rendered":"

4 July 2018\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 Daily Analysis   Dollar losses steam as Euro reconcile. US dollar edges lower on Wednesday following a sharp rebound in Euro after German Chancellor Angela Merkel averted an imminent split of her fragile coalition government by reaching a compromise within party members. Overnight, Merkel resolved a row over migration policy after achieving […]<\/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\/30141"}],"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=30141"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/30141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=30141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=30141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=30141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}