{"id":33865,"date":"2018-10-02T03:01:16","date_gmt":"2018-10-02T03:01:16","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=33865"},"modified":"2018-10-02T03:01:16","modified_gmt":"2018-10-02T03:01:16","slug":"021018-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021018-morning-session-analysis\/","title":{"rendered":"021018 Morning Session Analysis"},"content":{"rendered":"

2 October 2018\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

Dollar remains resilient, all eyes on RBA.<\/strong><\/span><\/p>\n

US dollar recuperates its losses from yesterday while investors anticipates the release of interest rate decision from Reserve Bank of Australia scheduled this afternoon. The dollar index notched up 0.01%, last quoted around 94.90 during Asian session. Yesterday, US dollar received some downward pressure after Institute of Supply Management (ISM) reported that the Manufacturing PMI for the month of September tumbled slightly to 59.8 versus forecast of 60.1. However, losses were limited after employment facet of the data \u2013 ISM Manufacturing Employment came in with a higher reading of 58.8 versus forecast of 58.1. On the other hand, pair of GBP\/USD extended gains by 0.01% to 1.3043 this morning. Overnight, pound sterling spiked upwards after news reported that UK plans to compromise on Irish border issue in order to move forward with a Brexit plan. However, the compromise will be used as a last resort if a deal is not reached and it would be conditional for UK to have full access to EU custom union.<\/p>\n

 <\/p>\n

Looking into commodities market, crude oil price rose 0.63% to $75.53 per barrel, its highest level since late 2014. Bulls market continues to bet on the commodity following heightened worries that Iranian sanction may lead to a significant decrease of oil supply in the global market with a reduction of up to 1.5 million barrels per day. On the other hand, gold price was traded flat around $1,189.38 a troy ounce while resilient greenback prevents any significant recovery of the commodity price.<\/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 CNY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 China \u2013 National Day<\/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

12:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0RBA Rate Statement<\/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 \u00a0FOMC Member Quarles Speaks<\/p>\n

00:00\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 Fed Chair Powell Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\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
12:30<\/td>\nAUD \u2013 RBA Interest Rate Decision (Oct)<\/td>\n1.50%<\/td>\n1.50%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Construction PMI (Sep)<\/td>\n52.9<\/td>\n52.8<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n2.903M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement near 95.00. MACD which begins to form a death cross signal suggests the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 95.00, 95.50<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remains traded within a descending wedge following prior rebound from the bottom level. MACD which begins to form a golden cross signal suggests the pair to extend its gains after closing above the level 1.3055.<\/p>\n

 <\/p>\n

Resistance level: 1.3055, 1.3100<\/p>\n

Support level: 1.2985, 1.2910<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following previous rebound before the support level near 1.1550. MACD which shows diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1605, 1.1675<\/p>\n

Support level: 1.1550, 1.1495<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retrace from the psychological level at 114.00. MACD which has formed a death cross signal suggests the pair to be traded lower in short-term, towards 113.70.<\/p>\n

 <\/p>\n

Resistance level: 114.00, 114.35<\/p>\n

Support level: 113.70, 113.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded within a descending channel while currently testing at the upper level. MACD which illustrate persistent bullish signal suggests the pair to extend its gains after breaking the top level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 0.7240, 0.7260<\/p>\n

Support level: 0.7230, 0.7200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD remains traded within a descending channel following prior rebound from the bottom level. MACD which begins to form golden cross signal suggests the pair to extend its gains after breaking the resistance near 0.6615.<\/p>\n

 <\/p>\n

Resistance level: 0.6615, 0.6640<\/p>\n

Support level: 0.6590, 0.6540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded flat while currently testing near the threshold of 1.2800. MACD which continues to illustrate bearish signal suggests the pair to extend its losses after breaking the strong support of 1.2800.<\/p>\n

 <\/p>\n

Resistance level: 1.2860, 1.2900<\/p>\n

Support level: 1.2800, 1.2720<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded thinly while currently testing near the resistance of 0.9850. MACD which illustrate diminishing upward signal suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9850, 0.9885<\/p>\n

Support level: 0.9810, 0.9760<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the support level of 73.40. MACD which continues to illustrate bullish signal suggests the commodity price to extend its gains after breaking the resistance at 75.60.<\/p>\n

 <\/p>\n

Resistance level: 75.60, 76.15<\/p>\n

Support level: 74.60, 73.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support level at 1184.00. MACD which illustrate the formation of golden cross suggests the commodity price to extend its gains after breaking the downward trendline.<\/p>\n

 <\/p>\n

Resistance level: 1192.00, 1202.00<\/p>\n

Support level: 1184.00, 1177.00<\/p>\n","protected":false},"excerpt":{"rendered":"

2 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Dollar remains resilient, all eyes on RBA. US dollar recuperates its losses from yesterday while investors anticipates the release of interest rate decision from Reserve Bank of Australia scheduled this afternoon. The dollar index notched up 0.01%, last quoted around 94.90 during Asian session. Yesterday, US dollar received […]<\/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\/33865"}],"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=33865"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/33865\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=33865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=33865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=33865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}