{"id":34470,"date":"2018-10-08T08:25:14","date_gmt":"2018-10-08T08:25:14","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=34470"},"modified":"2018-10-08T08:25:14","modified_gmt":"2018-10-08T08:25:14","slug":"081018-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/081018-daily-analysis\/","title":{"rendered":"081018 Daily Analysis"},"content":{"rendered":"

8 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

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Dollar edges higher amid Friday\u2019s economic data.<\/strong><\/p>\n

Greenback managed to recover part of its losses from last Friday\u2019s Nonfarm Payrolls (NFP) data by 0.13% to 95.38 amid investors reaction towards better US unemployment rate. Following last week releasement of poor NFP data was the US Unemployment Rate data which had an actual reading of 3.7%, 0.1% lower than the forecasted data of 3.8%. The lower than expect unemployment rate was taken as a positive sentiment by investors as the data indicates a healthier US employment status. In other news, the pair of GBP\/USD was traded lower by 0.11% to 1.3100 at early European trading session after surging up by 100 pips amid poor NFP data which sent the dollar falling from its 1-month high on Friday.<\/p>\n

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As for commodities, crude oil price plunged 0.60% to $73.85 per barrel amid reports from US officials where US may grant waivers for those who put efforts to reduce their crude imports from Iran. Moreover, news on Saudi Arabia\u2019s action to stabilize the decreased of supply from Iran also created negative sentiment for the crude oil market. On the other hand, gold price fell 0.50% to $1,196.60 a troy ounce due to stronger dollar.<\/p>\n

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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 CAD\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 Canada \u2013 Thanksgiving Day<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0 Japan \u2013 Health-Sports 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

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Today\u2019s Highlight Economy Data<\/u><\/p>\n

N\/A<\/strong><\/p>\n

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 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded higher following prior rebound from the support level 95.20. MACD which illustrate bullish signal and the formation of golden cross suggest the dollar to extend its gains towards the resistance level 95.70.<\/p>\n

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Resistance level: 95.70, 96.05<\/p>\n

Support level: 95.20, 94.55<\/p>\n

 <\/p>\n

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\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level near 1.3130. MACD which illustrate bearish momentum and the formation of a death cross suggest the pair to extend its losses towards the psychological level 1.3040.<\/p>\n

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Resistance level: 1.3130, 1.3185<\/p>\n

Support level: 1.3040, 1.2980<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior breakout below the previous support level 1.1510. Recent price action and MACD which display bearish bias and the formation of a death cross suggest the pair to extend its losses towards the support level 1.1465.<\/p>\n

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Resistance level: 1.1510, 1.1570<\/p>\n

Support level: 1.1465, 1.1395<\/p>\n

 <\/p>\n

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\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level 113.55. MACD which illustrate bullish momentum suggest the pair to extend its gains towards the resistance level 114.00.<\/p>\n

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Resistance level: 114.00, 114.50<\/p>\n

Support level: 113.55, 113.05<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level 0.7040. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains towards the resistance level 0.7085.<\/p>\n

 <\/p>\n

Resistance level: 0.7090, 0.7125<\/p>\n

Support level: 0.7040, 0.7010<\/p>\n

 <\/p>\n

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level 0.6460. MACD which illustrate diminishing bearish momentum suggest the pair to undergo short-term technical correction towards the resistance level 0.6460.<\/p>\n

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Resistance level: 0.6460, 0.6505<\/p>\n

Support level: 0.6400, 0.6375<\/p>\n

 <\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level 1.2955. Recent price movement and MACD which illustrate persistent bullish momentum suggest the pair to extend its gains towards the resistance level 1.3045.<\/p>\n

 <\/p>\n

Resistance level: 1.3045, 1.3120<\/p>\n

Support level: 1.2955, 1.2905<\/p>\n

 <\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level 0.9940. MACD which illustrate bearish momentum suggest the pair to extend its retracement towards the support level 0.9875.<\/p>\n

 <\/p>\n

Resistance level: 0.9940, 0.9980<\/p>\n

Support level: 0.9875, 0.9815<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing near the support level 73.55. MACD which display persistent bearish momentum suggest the commodity to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 75.00, 76.70<\/p>\n

Support level: 73.55, 71.90<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout below the previous support level 1197.90. MACD which illustrate bearish momentum and the formation of a death cross suggest the commodity to extend its losses towards the support level 1191.10.<\/p>\n

 <\/p>\n

Resistance level: 1197.90, 1203.30<\/p>\n

Support level: 1191.10, 1185.35<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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Highlighted economy data and events for the week: <\/u><\/strong>October 8 \u2013 12\u00a0\u00a0 <\/u><\/strong><\/p>\n\n\n\n\n\n\n\n
Monday, October 8<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

EUR \u2013 <\/strong>German Industrial Production (MoM) (Aug)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n

Tuesday, October 9<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

EUR \u2013 <\/strong>German Trade Balance (Aug)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n

Wednesday, October 10<\/strong><\/td>\n <\/p>\n

Data<\/strong><\/p>\n

CrudeOIL \u2013 <\/strong>API Weekly Crude Oil Stock<\/p>\n

GBP \u2013 <\/strong>GDP (MoM)<\/p>\n

GBP \u2013 <\/strong>Manufacturing Production (MoM) (Aug)<\/p>\n

USD \u2013 <\/strong>PPI (MoM) (Sep)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

N\/A<\/strong><\/p>\n

 <\/td>\n<\/tr>\n

Thursday, <\/strong>October 11<\/strong><\/td>\n\u00a0<\/strong><\/p>\n

Data<\/strong><\/p>\n

USD \u2013 <\/strong>Core CPI (MoM) (Sep)<\/p>\n

CrudeOIL \u2013 <\/strong>Crude Oil Inventories<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

CrudeOIL \u2013 <\/strong>OPEC Monthly Report<\/p>\n

EUR \u2013 <\/strong>ECB Publishes Account of Monetary Policy Meeting<\/p>\n

 <\/td>\n<\/tr>\n

\u00a0<\/strong><\/p>\n

Friday, October 12<\/strong><\/p>\n

\u00a0<\/strong><\/td>\n

 <\/p>\n

Data<\/strong><\/p>\n

EUR \u2013 <\/strong>Industrial Production (MoM) (Aug)<\/p>\n

EUR \u2013 <\/strong>German CPI (MoM) (Sep)<\/p>\n

USD \u2013 <\/strong>Michigan Consumer Sentiment (Oct)<\/p>\n

 <\/p>\n

Events<\/strong><\/p>\n

CrudeOIL \u2013 <\/strong>IEA Monthly Report<\/p>\n

 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

8 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Dollar edges higher amid Friday\u2019s economic data. Greenback managed to recover part of its losses from last Friday\u2019s Nonfarm Payrolls (NFP) data by 0.13% to 95.38 amid investors reaction towards better US unemployment rate. Following last week releasement of poor NFP data was the US Unemployment Rate data […]<\/p>\n","protected":false},"author":20,"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\/34470"}],"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\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=34470"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/34470\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=34470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=34470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=34470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}