{"id":33452,"date":"2018-09-27T02:44:28","date_gmt":"2018-09-27T02:44:28","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=33452"},"modified":"2018-09-27T02:44:28","modified_gmt":"2018-09-27T02:44:28","slug":"270918-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/270918-morning-session-analysis\/","title":{"rendered":"270918 Morning Session Analysis"},"content":{"rendered":"

27 September 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Fed: Accommodative policy era comes to an end.<\/strong><\/span><\/p>\n

Greenback edged higher earlier today after US Federal Reserve raise their interest rates as expected for the eighth time, indicating for more future rate hikes and signaled the end of \u201caccommodative\u201d policy era. The dollar index ticks up 0.04%, last quoted around 93.78. Fed policymakers raised their benchmark rate by 25-basis points to a range of 2.00% – 2.25%. The central bank also removed the keyword \u201caccommodative\u201d from their policy statement, reiterates for further rate hikes in the future as unemployment heads towards multi decades low.\u00a0 On the other hand, pair of USD\/CAD rose 0.08% to 1.3031 during Asian trading session. Canadian dollar received some bearish pressure after US President Donald Trump threatens again to impose tariffs upon Canadian-manufacturing automobiles while current NAFTA negotiation between US-Canada entrenched in immovable positions.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rebounds by 0.58% to $72.73 per barrel after US Energy Secretary Rick Perry stated that the nation\u2019s strategic oil reserves would not be utilized to expand global crude supplies. Similarly, gold price rose 0.22% to $1,197.08 a troy ounce after investors rushed in to buy back the commodity from a lower price point.<\/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 \u00a0Event<\/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 \u00a0Event<\/strong><\/p>\n

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0CrudeOIL\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 OPEC Meeting<\/p>\n

21:30\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 \u00a0ECB President Draghi Speaks<\/p>\n

22:00\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 \u00a0BoE Gov Carney Speaks<\/p>\n

04:30 (28th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 Fed Chair Powell Speaks<\/p>\n

05:45\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0CAD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0BoC Gov Poloz Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\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 (Oct)<\/td>\n10.5<\/td>\n10.6<\/td>\n–<\/td>\n<\/tr>\n
20:00<\/td>\nEUR \u2013 German CPI (MoM) (Sep)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Aug)<\/td>\n0.1%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q2)<\/td>\n4.2%<\/td>\n4.2%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Aug)<\/td>\n-0.7%<\/td>\n-0.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index has recently broken out from the top level of descending channel. MACD histogram which illustrate persistent upward signal suggests the index to extend its gains after closing above the 94.00 threshold.<\/p>\n

 <\/p>\n

Resistance level: 94.00, 94.65<\/p>\n

Support level: 93.40, 93.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD remains traded within an ascending channel while currently testing near the 20-MA line (red). MACD which has illustrated negative divergence signal suggests the pair to extend its losses in short-term after closing below the 20-MA line.<\/p>\n

 <\/p>\n

Resistance level: 1.3200, 1.3285<\/p>\n

Support level: 1.3145, 1.3100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing near the bottom level of ascending channel. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking out from the bottom level of the channel and support near 1.1730.<\/p>\n

 <\/p>\n

Resistance level: 1.1800, 1.1855<\/p>\n

Support level: 1.1730, 1.1660<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remains traded within an ascending channel following prior rebound from the bottom. MACD histogram which illustrate diminishing bearish signal suggests the pair to extend its gains after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 113.05, 113.40<\/p>\n

Support level: 112.65, 112.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement from previous high. MACD histogram which illustrate bearish signal suggests the pair to extend its losses after breaking the support near 0.7240.<\/p>\n

 <\/p>\n

Resistance level: 0.7260, 0.7280<\/p>\n

Support level: 0.7240, 0.7230<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the upward trendline. MACD histogram which illustrate persistent bearish signal suggests the pair to extend its losses after breaking the trendline.<\/p>\n

 <\/p>\n

Resistance level: 0.6675, 0.6720<\/p>\n

Support level: 0.6615, 0.6540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD extended gains following prior breakout from the resistance level of 1.3010. MACD histogram which illustrate bullish signal suggests the pair to extend its gains towards the next target of 1.3050.<\/p>\n

 <\/p>\n

Resistance level: 1.3050, 1.3100<\/p>\n

Support level: 1.3010, 1.2955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded flat while currently testing near the upward trendline. MACD histogram which illustrate diminishing downward momentum suggests the pair to extend its gains after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 0.9680, 0.9710<\/p>\n

Support level: 0.9645, 0.9590<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the upward trendline. MACD histogram which illustrate bullish signal suggests the commodity price to extend its gains after breaking the strong resistance near 72.50.<\/p>\n

 <\/p>\n

Resistance level: 72.50, 73.40<\/p>\n

Support level: 71.75, 71.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remains traded within a sideways channel following prior rebound from the bottom level. Stochastic Oscillator which illustrate bullish signal suggests gold price to be traded higher in short-term after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 1207.75, 1218.65<\/p>\n

Support level: 1194.30, 1184.00<\/p>\n","protected":false},"excerpt":{"rendered":"

27 September 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 Morning Session Analysis   Fed: Accommodative policy era comes to an end. Greenback edged higher earlier today after US Federal Reserve raise their interest rates as expected for the eighth time, indicating for more future rate hikes and signaled the end of \u201caccommodative\u201d policy era. The dollar index ticks up 0.04%, last […]<\/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\/33452"}],"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=33452"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/33452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=33452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=33452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=33452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}