{"id":37829,"date":"2018-11-12T02:33:56","date_gmt":"2018-11-12T02:33:56","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=37829"},"modified":"2018-11-12T02:33:56","modified_gmt":"2018-11-12T02:33:56","slug":"121118-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/121118-morning-session-analysis\/","title":{"rendered":"121118 Morning Session Analysis"},"content":{"rendered":"

12 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 Morning Session Analysis<\/strong><\/p>\n

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Dollar-bulls reinforced, eyes over CPI.<\/strong><\/span><\/p>\n

US dollar was opened slightly higher for the week following optimistic US economic data which were released last Friday. The dollar index was up 0.09%, last seen around 96.80 during early Asian trading session. Last week, US Bureau of Labor Statistics reported that regional Producer Price Index (PPI) rose 0.6% for the month of October, exceeding economist expectation for an increase of 0.2%. The data has further cemented investor\u2019s expectation towards Federal Reserve which has previously indicated to continue their monetary policy tightening and hike interest rate this December. As for the week, investors would continue to monitor on upcoming economic releases with higher scrutiny upon Consumer Price Index (CPI) which is scheduled to be release this Wednesday. The data could provide further confirmation of rising inflationary pressure \u2013 one of the main worries of Federal Reserve. On the other hand, pound sterling was opened lower by 0.22% to 1.2941 this morning. Sterling received higher volume of selloff after UK Prime Minister Theresa May was forced to cancel a last-minute cabinet meeting for Brexit negotiation due to disagreements in her Conservative party while EU leaders in Brussels were unimpressed with her efforts.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price skyrocketed 1.49% to $60.70 per barrel after OPEC and its allies allegedly started to lay the groundwork to cut oil supply in 2019. The cartel also warned in a statement that a \u201cnew strategy\u201d is needed, raising investor\u2019s prospect for wider and coordinated supply cut in 2019. On the other hand, gold price tacks up 0.11% to $1,211.10 a troy ounce following equity selloff in Asian region.<\/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 \u00a0Event<\/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 (13th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Member Daly Speaks<\/p>\n

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

N\/A<\/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 near 96.60. MACD which illustrate bearish signal suggests the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 97.00, 97.40<\/p>\n

Support level: 96.60, 96.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

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

Support level: 1.2895, 1.2805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction after closing above 1.1330.<\/p>\n

 <\/p>\n

Resistance level: 1.1330, 1.1385<\/p>\n

Support level: 1.1280, 1.1240<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior closure above the resistance level at 113.85. MACD which illustrate the formation of golden cross suggests the pair to extend its gains, towards the direction of 114.20.<\/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 remains traded within a descending channel following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7250, 0.7275<\/p>\n

Support level: 0.7220, 0.7205<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the lower level. MACD which illustrate positive divergence signal suggests the pair to extend its gains after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 0.6770, 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 following prior retrace from the top level. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3210, 1.3255<\/p>\n

Support level: 1.3155, 1.3115<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded flat while currently testing near the support level of 1.0055. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the target of 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, H1: <\/strong>Crude oil price remains traded within an descending channel following prior rebound from the lower level. MACD which illustrate bullish signal suggests the commodity price to extend its gains in short-term as technical correction.<\/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 higher following prior rebound from the lower levels. MACD which illustrate diminishing bearish momentum suggests its prices to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1215.95, 1228.00<\/p>\n

Support level: 1206.00, 1198.00<\/p>\n

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

12 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 Morning Session Analysis   Dollar-bulls reinforced, eyes over CPI. US dollar was opened slightly higher for the week following optimistic US economic data which were released last Friday. The dollar index was up 0.09%, last seen around 96.80 during early Asian trading session. Last week, US Bureau of Labor Statistics reported that […]<\/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\/37829"}],"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=37829"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/37829\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=37829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=37829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=37829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}