{"id":37685,"date":"2018-11-09T02:55:41","date_gmt":"2018-11-09T02:55:41","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=37685"},"modified":"2018-11-09T02:55:41","modified_gmt":"2018-11-09T02:55:41","slug":"091118-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/091118-morning-session-analysis\/","title":{"rendered":"091118 Morning Session Analysis"},"content":{"rendered":"

9 November 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\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Fed remains hawkish, dollar propels higher.<\/strong><\/span><\/p>\n

US dollar extended its gains on Friday morning after Federal Reserve delivered an upbeat assessment on the economy while signaling that a December interest rate hike remains on track. The dollar index rose 0.66%, last seen around 96.43 during early Asian trading session. As widely expected, the US Federal Reserve left their interest rate unchanged at 2.25% but delivered a positive outlook upon the economy and labor market. While the Fed took note of recent depreciating unemployment and slightly softer GDP for third quarter, the central bank postulate that strong economic activity and household spending is still on tow to support the inflation at around 2%. Thus, they reiterated to continue with gradual rate hike in the future with at least four times next year. On the other hand, pound sterling received some bearish pressure on yesterday following bearish Brexit headlines. According to reports, UK government officials has downplayed rumors that a Brexit agreement was imminent after an article suggests that Britain and EU could seal a divorce deal in the next few days. As of writing, pair of GBP\/USD ticked down 0.02% to 1.3066.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price extended its losses by 0.05% to $60.71 per barrel. The commodity price received bearish pressure after EIA reported that US weekly crude output has attain a new record high of 11.6 million barrels per day. On the other hand, gold price was down by 0.07% to $1,222.88 a troy ounce following higher prospect towards the next interest rate hike scheduled in December.<\/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 Economic Data<\/u><\/p>\n\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
17:30<\/td>\nGBP \u2013 GDP (QoQ) (Q3)<\/td>\n0.4%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Sep)<\/td>\n-0.2%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Monthly GDP 3M\/3M Change<\/td>\n0.7%<\/td>\n0.6%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 PPI (MoM) (Oct)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Nov)<\/td>\n98.6<\/td>\n98.0<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n874<\/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, H1: <\/strong>Dollar index was traded lower following prior retracement from the higher levels. MACD which illustrate diminishing upward momentum may suggests the index to be traded lower in short-term as technical correction.<\/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, H4: <\/strong>GBPUSD was traded lower following prior breakout from the support level at 1.3100. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the target of 1.3015.<\/p>\n

 <\/p>\n

Resistance level: 1.3100, 1.3175<\/p>\n

Support level: 1.3015, 1.2955<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the lower levels. MACD which illustrate diminishing bearish momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1385, 1.1415<\/p>\n

Support level: 1.1330, 1.1280<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retrace from the higher levels. MACD which begins to form a death cross signal suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 114.20, 114.55<\/p>\n

Support level: 113.85, 113.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement while currently testing at the upward trendline. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking the trendline.<\/p>\n

 <\/p>\n

Resistance level: 0.7275, 0.7315<\/p>\n

Support level: 0.7250, 0.7205<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retracement while currently testing at the upward trendline. MACD which illustrate bearish signal and momentum suggests the pair to extend its losses after breaking the trendline.<\/p>\n

 <\/p>\n

Resistance level: 0.6805, 0.6850<\/p>\n

Support level: 0.6735, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD remains traded within an ascending channel while currently testing near 1.3155. MACD which has formed a golden cross signal suggests the pair to extend its gains after breaking the target of 1.3155.<\/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 breakout from the resistance level near 1.0055. MACD which has formed a golden cross signal suggests the pair to extend its gains after a successful rebound from 1.0055.<\/p>\n

 <\/p>\n

Resistance level: 1.0095, 1.0140<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price extended its losses in tandem with the major bearish trend. MACD which illustrate the formation of death cross signal suggests the commodity price to advance further down, towards the target of 60.00.<\/p>\n

 <\/p>\n

Resistance level: 61.05, 62.50<\/p>\n

Support level: 60.00 , 58.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout from the upward trendline. MACD which illustrate bearish signal suggests the commodity price to extend its losses in short-term, towards the direction of 1215.95.<\/p>\n

 <\/p>\n

Resistance level: 1228.00, 1237.25<\/p>\n

Support level: 1215.95, 1206.00<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

9 November 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\u00a0\u00a0\u00a0 Morning Session Analysis   Fed remains hawkish, dollar propels higher. US dollar extended its gains on Friday morning after Federal Reserve delivered an upbeat assessment on the economy while signaling that a December interest rate hike remains on track. The dollar index rose 0.66%, last seen around 96.43 during early Asian trading […]<\/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\/37685"}],"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=37685"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/37685\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=37685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=37685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=37685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}