{"id":33584,"date":"2018-09-28T02:31:47","date_gmt":"2018-09-28T02:31:47","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=33584"},"modified":"2018-09-28T02:31:47","modified_gmt":"2018-09-28T02:31:47","slug":"280918-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280918-morning-session-analysis\/","title":{"rendered":"280918 Morning Session Analysis"},"content":{"rendered":"

28 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

Hawkish Fed charges up dollar\u2019s bull.<\/strong><\/span><\/p>\n

Greenback rose to two-weeks high against other major currencies on yesterday after Federal Reserve raised interest rates as expected while coupled with positive US economic data. The dollar index rose 0.12%, last seen around 94.56 during Asian session. On yesterday morning, US Federal Reserve increased their overnight funds rate as expected while delivered a rather optimistic assessment of the US economy. In addition, US Bureau of Economic Analysis reported that Gross Domestic Product for the 2nd<\/sup> quarter came in as expected with 4.2% of growth. The data has further cemented Fed\u2019s outlook for a progressive economic growth, raising investors\u2019 prospect towards more rate hikes in the future. On the other hand, pair of USD\/CAD slipped 0.05% to 1.3035 this morning. Canadian dollar received fresh demand after Bank of Canada Governor Stephen Poloz said that they would gradually raise interest rates if NAFTA negotiations attains positive outcome.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price depreciates by 0.08% to $72.42 per barrel and undergo minor retracement after rising to 4 year\u2019s high on yesterday. Similarly, gold price was down 0.03% to $1,183.19 a troy ounce over the backdrop of hawkish outlook from the Federal Reserve.<\/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

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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\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
09:45<\/td>\nCNY \u2013 Caixin Manufacturing PMI (Sep)<\/td>\n50.6<\/td>\n50.5<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Change (Sep)<\/td>\n-8K<\/td>\n-9K<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 GDP (QoQ) (Q2)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 CPI (YoY) (Sep)<\/td>\n2.0%<\/td>\n2.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core PCE Price Index (MoM) (Aug)<\/td>\n0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Spending (MoM) (Aug)<\/td>\n0.4%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Personal Income (MoM) (Aug)<\/td>\n0.3%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 GDP (MoM) (Jul)<\/td>\n0.0%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Sep)<\/td>\n100.8<\/td>\n100.5<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n866<\/td>\n–<\/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 extended gains following prior breakout from the resistance level of 94.00. MACD which continues to illustrate bullish signal suggests the index to extend its gains after breaking the resistance level near 94.65.<\/p>\n

 <\/p>\n

Resistance level: 94.65, 95.00<\/p>\n

Support level: 94.00, 93.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD extended losses following prior breakout from the support level of 1.3100. MACD histogram which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.3055.<\/p>\n

 <\/p>\n

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

Support level: 1.3055, 1.2985<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout from the support level near 1.1675. MACD histogram which illustrate bearish signal suggests the pair to extend its losses towards the direction of 1.1605.<\/p>\n

 <\/p>\n

Resistance level: 1.1675, 1.1730<\/p>\n

Support level: 1.1605, 1.1550<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior breakout from the resistance level near 113.40. Both MA line which continues to expand upwards after the formation of golden cross suggests the pair to further extend its bullish momentum.<\/p>\n

 <\/p>\n

Resistance level: 113.70, 114.00<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound near 0.7200. MACD which begins to form a golden cross signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

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

Support level: 0.7200, 0.7175<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing at 0.6615. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking the support level of 0.6615.<\/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 was traded lower following prior retracement near 1.3050. MACD which illustrate diminishing upward momentum may suggests the pair to be traded lower in short-term as technical correction.<\/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 near the support level of 0.9760. MACD which begins to form a death cross signal suggests the pair to extend its losses in short-term after breaking the support of 0.9760.<\/p>\n

 <\/p>\n

Resistance level: 0.9810, 0.9850<\/p>\n

Support level: 0.9760, 0.9710<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within an ascending triangle while currently testing near the 20-MA line (red). MACD which begins to form a golden cross signal suggests the commodity price to be traded higher in short-term.<\/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 slumped sharply after breaking the strong support near 1192.00. MACD which illustrate bearish signal suggests the commodity price to extend its losses towards next target of 1177.00.<\/p>\n

 <\/p>\n

Resistance level: 1184.00, 1192.00<\/p>\n

Support level: 1177.00, 1171.80<\/p>\n","protected":false},"excerpt":{"rendered":"

28 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   Hawkish Fed charges up dollar\u2019s bull. Greenback rose to two-weeks high against other major currencies on yesterday after Federal Reserve raised interest rates as expected while coupled with positive US economic data. The dollar index rose 0.12%, last seen around 94.56 during Asian session. On yesterday morning, US […]<\/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\/33584"}],"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=33584"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/33584\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=33584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=33584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=33584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}