{"id":31114,"date":"2018-07-26T01:13:38","date_gmt":"2018-07-26T01:13:38","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=31114"},"modified":"2018-07-26T01:13:38","modified_gmt":"2018-07-26T01:13:38","slug":"260718-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260718-daily-analysis\/","title":{"rendered":"260718 Daily Analysis"},"content":{"rendered":"

26 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 Daily Analysis<\/strong><\/p>\n

 <\/p>\n

Bulls return amid Trump\u2019s turnaround.<\/strong><\/span><\/p>\n

Greenback trickles lower during Asian trading hours amid weak regional housing data while market participants mull the outcome of a meeting between US and EU. The dollar index slumped 0.40% to 93.92 as of writing. In a highly anticipated meeting between US President Donald Trump and EU\u2019s chief executive Jean-Claude Juncker, both parties agreed to step back from a trade war while striking a deal to work towards \u201czero\u201d tariffs, barriers and subsidies. The EU counterpart agreed to purchase billions of dollars\u2019 worth of American exports while Trump agreed to resolve US tariffs which were imposed upon European steel and aluminum imports. Overall optimism which surrounds the meeting conclusion has encouraged market-bulls to boost recent global stocks rally although failed to garner any gains on the dollar after New Home Sales data for last month missed economist expectation. Otherwise, pair of EUR\/USD rose 0.03% to $1.1732 over the backdrop of diminished trade-war threat and optimistic German Business Climate Index from yesterday.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price tacks up 0.10% to $70.53 per barrel after Energy Information Administration reported a large fall in US crude inventories by 6.147 million barrels last week, confounding expectation for a draw of up to 2.600 million barrels. Otherwise, gold price rose 0.09% to $1,232.84 a troy ounce following weak 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\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 ECB Press Conference<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\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
14:00<\/td>\nEUR \u2013 GfK German Consumer Climate (Aug)<\/td>\n10.7<\/td>\n10.7<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 Deposit Facility Rate<\/td>\n-0.40%<\/td>\n-0.40%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 ECB Marginal Lending Facility<\/td>\n0.25%<\/td>\n0.25%<\/td>\n–<\/td>\n<\/tr>\n
19:45<\/td>\nEUR \u2013 ECB Interest Rate Decision (Jul)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Jun)<\/td>\n0.0%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n207K<\/td>\n215K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Goods Trade Balance<\/td>\n64.77B<\/td>\n67.00B<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD extended gains following prior breakout from the downward trendline. Such price action while coupled with bullish signal from the MACD histogram suggests the pair to advance further up, towards the direction of resistance level at 1.3270.<\/p>\n

 <\/p>\n

Resistance level: 1.3270, 1.3345<\/p>\n

Support level: 1.3180, 1.3130<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD extended gains following prior breakout from the top level of narrowing triangle. Although MACD histogram illustrate bullish signal, a close above the resistance level near 1.1750 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1.1750, 1.1780<\/p>\n

Support level: 1.1710, 1.1675<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY resumed its major downtrend following prior retracement from the 20-MA line (red). Both MA line which continues to expand downwards suggests further bearish bias. Thus, a close below the support level of 110.70 will further validate the downside signal.<\/p>\n

 <\/p>\n

Resistance level: 111.25, 111.95<\/p>\n

Support level: 110.70, 110.15<\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within an ascending channel while recently rebounds from the support level of 69.30. MACD which continues to illustrate bullish signal suggests the commodity price to extend its gains, towards the direction of strong resistance level near 70.00.<\/p>\n

 <\/p>\n

Resistance level: 70.00, 70.70<\/p>\n

Support level: 69.30, 68.85<\/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 narrowing triangle. Although both MA lines and MACD illustrate bullish bias, a break above 1233.70 is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 1233.70, 1238.40<\/p>\n

Support level: 1226.50, 1222.00<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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 Daily Analysis   Bulls return amid Trump\u2019s turnaround. Greenback trickles lower during Asian trading hours amid weak regional housing data while market participants mull the outcome of a meeting between US and EU. The dollar index slumped 0.40% to 93.92 as of writing. In a highly anticipated meeting between US President Donald […]<\/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\/31114"}],"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=31114"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/31114\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=31114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=31114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=31114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}