{"id":36654,"date":"2018-10-30T01:59:37","date_gmt":"2018-10-30T01:59:37","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=36654"},"modified":"2018-10-30T01:59:37","modified_gmt":"2018-10-30T01:59:37","slug":"301018-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/301018-morning-session-analysis\/","title":{"rendered":"301018 Morning Session Analysis"},"content":{"rendered":"

30 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

US propels as tariffs against China looms.<\/strong><\/span><\/p>\n

Greenback rebounds against other major peers on Monday following reports that the United States are planning to initiate more tariffs against China goods. As of writing, the dollar index was quoted up 0.09% to 96.37 during Asian trading session. According to Bloomberg, US is currently preparing to announce tariffs against remaining Chinese imports by early December if the talks between President Donald Trump and Xi Jinping on next month falters. Although the news has sparked a selloff in risky assets, the demand for safe-havens remained subdued as investors places optimistic sentiment upon the US dollar and their economy. In addition, the dollar was further supported after data showed that the US Consumer Spending rose for the seventh consecutive month, reaffirming market\u2019s expectation that a strong consumer demand would help to support overall US economy. On the other hand, pair of EUR\/USD rose 0.04% to 1.1377 while investors will now ponder upon the submission of a revamped Italian budget to the EU Commission later today.<\/p>\n

 <\/p>\n

As for commodities, crude oil price falters by 0.05% to $66.56 per barrel while investors weigh the severity of impact upon the enactment of US sanctions against the Iran this coming weekend. Otherwise, gold price recovered its losses by 0.07% to $1,230.25 a troy ounce albeit remained under pressure due to strong dollar.<\/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

03:30\u00a0\u00a0\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 BoC Gov Poloz Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Unemployment Change (Oct)<\/td>\n-23K<\/td>\n-12K<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 GDP (QoQ)<\/td>\n0.4%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
21:00<\/td>\nEUR \u2013 German CPI (MoM) (Oct)<\/td>\n0.4%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (Oct)<\/td>\n138.4<\/td>\n136.0<\/td>\n–<\/td>\n<\/tr>\n
04:30 \uff0831st<\/sup>\uff09<\/td>\nCrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n9.880M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index remains traded within an ascending channel following prior rebound from the bottom level. MACD which begins to form a golden cross signal suggests the index to extend its gains in short-term, towards the target of 96.60.<\/p>\n

 <\/p>\n

Resistance level: 96.60, 97.00<\/p>\n

Support level: 96.20, 95.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher while currently testing at the downward trendline. MACD which begins to form a golden cross signal suggests the pair to extend its gains after breaking the trendline.<\/p>\n

 <\/p>\n

Resistance level: 1.2810, 1.2860<\/p>\n

Support level: 1.2755, 1.2680<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded within a narrowing triangle while currently testing at the bottom level. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking the bottom level.<\/p>\n

 <\/p>\n

Resistance level: 1.1385, 1.1445<\/p>\n

Support level: 1.1360, 1.1320<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing at the downward trendline. Although MACD has formed a golden cross signal, a break above this trendline is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 112.45, 112.70<\/p>\n

Support level: 112.15, 111.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7055. MACD which illustrate diminishing downward momentum suggests the pair to extend its gains in short-term after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 0.7100, 0.7130<\/p>\n

Support level: 0.7055, 0.7025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the 60-MA line (green). MACD 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: 0.6540, 0.6575<\/p>\n

Support level: 0.6500, 0.6460<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD remains traded within an ascending channel while currently testing at 1.3115. MACD which begins to form a death cross signal suggests the pair to extend its losses after closing below the target of 1.3115.<\/p>\n

 <\/p>\n

Resistance level: 1.3155, 1.3210<\/p>\n

Support level: 1.3115, 1.3080<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the upward trendline. MACD which begins to form a golden cross signal suggests the pair to extend its gains after breaking the resistance level of 1.0025.<\/p>\n

 <\/p>\n

Resistance level: 1.0025, 1.0055<\/p>\n

Support level: 1.0000, 0.9975<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price remains traded within an ascending channel following prior rebound from the bottom level. MACD which illustrate diminishing downward momentum suggests the commodity price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 67.35, 68.55<\/p>\n

Support level: 66.10, 64.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price remains traded within an ascending channel while currently testing at the support level of 1229.05. MACD which illustrate bearish signal suggests the commodity price to extend its losses after closing below 1229.05.<\/p>\n

 <\/p>\n

Resistance level: 1237.00, 1243.25<\/p>\n

Support level: 1229.05, 1220.25<\/p>\n","protected":false},"excerpt":{"rendered":"

30 October 2018\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   US propels as tariffs against China looms. Greenback rebounds against other major peers on Monday following reports that the United States are planning to initiate more tariffs against China goods. As of writing, the dollar index was quoted up 0.09% to 96.37 during Asian trading session. According to […]<\/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\/36654"}],"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=36654"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/36654\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=36654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=36654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=36654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}