{"id":37971,"date":"2018-11-13T01:56:44","date_gmt":"2018-11-13T01:56:44","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=37971"},"modified":"2018-11-13T01:56:44","modified_gmt":"2018-11-13T01:56:44","slug":"131118-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131118-morning-session-analysis\/","title":{"rendered":"131118 Morning Session Analysis"},"content":{"rendered":"

13 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

 <\/p>\n

Dollar triumph as Brexit tows sterling down.<\/strong><\/span><\/p>\n

US dollar peaks at 17-months high against other major currencies on Monday following a large selloff on the pound sterling amid gloomy Brexit headlines. On yesterday, UK Prime Minister Theresa May\u2019s spokesperson denied a report claiming that the main elements of Brexit deal from the EU could be presented to the UK as soon as Tuesday. Such headlines have dialed down market participants sentiment towards UK as they may evoke \u201chard\u201d Brexit with EU. With under five months until Brexit, talks between both nations have stalled over a disagreement on the Ireland border issues and backstop plan. At the same time, PM May\u2019s attempt to unblock negotiations by considering a customs union and extending the Brexit date till end of December 2021 has angered both Eurosceptics and EU supporters within her Conservative Party. For the time being, negotiations are expected to continue within this week but officials are warned that unless there is progress by end of Wednesday, there is unlikely to have a summit this month to strike a Brexit deal. As of writing, dollar index rose 0.63% to 97.46 while pairing of GBP\/USD ticked down 0.15% to 1.2853.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price plunged 1.27% to $58.95 per barrel after US President Donald Trump tweeted that he hopes OPEC would not cut their production number next year while calling for a lower oil prices in the future. Otherwise, gold price depreciates by 0.28% to $1,201.96 a troy ounce following stronger US 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

19:20\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 OPEC Monthly Report<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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 Average Earnings Index +Bonus (Sep)<\/td>\n2.7%<\/td>\n3.0%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Claimant Count Change (Oct)<\/td>\n18.5K<\/td>\n4.3K<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Nov)<\/td>\n-24.7<\/td>\n-24.2<\/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 opened lower following prior retrace from the higher levels. 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: 97.40, 97.80<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.2895, 1.2955<\/p>\n

Support level: 1.2805, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

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

Support level: 1.1185, 1.1140<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance level at 114.20. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 113.30.<\/p>\n

 <\/p>\n

Resistance level: 113.85, 114.20<\/p>\n

Support level: 113.30, 112.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior closure below the support level at 0.7220. MACD which illustrate bearish signal and momentum suggests the pair to extend its losses after breaking the support level at 0.7170.<\/p>\n

 <\/p>\n

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

Support level: 0.7170, 0.7135<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from the 20-MA line (red). MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the target of 0.6700.<\/p>\n

 <\/p>\n

Resistance level: 0.6735, 0.6770<\/p>\n

Support level: 0.6700, 0.6660<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout from the top level of ascending channel. MACD which continues to illustrate bullish signal suggests the pair to extend its gains after closing above 1.3255.<\/p>\n

 <\/p>\n

Resistance level: 1.3255, 1.3320<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower while currently testing at the upward trendline. MACD which begins to form a negative divergence signal suggests the pair to extend its losses after breaking the upward trendline.<\/p>\n

 <\/p>\n

Resistance level: 1.0140, 1.0190<\/p>\n

Support level: 1.0095, 1.0055<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil remains traded within a descending channel following prior rebound from the lower levels. 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: 59.45, 62.00<\/p>\n

Support level: 58.65, 57.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the lower levels. MACD which illustrate positive divergence signal suggests its prices to be traded higher in short-term, towards 1206.00.<\/p>\n

 <\/p>\n

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

Support level: 1198.00, 1190.00<\/p>\n","protected":false},"excerpt":{"rendered":"

13 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 triumph as Brexit tows sterling down. US dollar peaks at 17-months high against other major currencies on Monday following a large selloff on the pound sterling amid gloomy Brexit headlines. On yesterday, UK Prime Minister Theresa May\u2019s spokesperson denied a report claiming that the main elements of […]<\/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\/37971"}],"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=37971"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/37971\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=37971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=37971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=37971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}