{"id":38247,"date":"2018-11-15T02:20:17","date_gmt":"2018-11-15T02:20:17","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=38247"},"modified":"2018-11-15T02:20:17","modified_gmt":"2018-11-15T02:20:17","slug":"151118-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/151118-morning-session-analysis\/","title":{"rendered":"151118 Morning Session Analysis"},"content":{"rendered":"

15 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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Cabinet supports Brexit draft, sterling surges.<\/strong><\/span><\/p>\n

US dollar extended its losses on yesterday, weighed by large buyback on the pound sterling after UK Prime Minister Theresa May secured her support from the Cabinet with regards to Brexit deal. In a volatile American session, sterling waivers in greens and red while PM May delivers her statement following the Cabinet meeting. During her statement, she announced that they have received Cabinet\u2019s backing for a Brexit deal and believe that they draft agreement is the best that could be negotiated. With just less than five months away before the Brexit deadline, the draft agreement marked a significant step forward towards a two-year transition period and trade talks while at the same time relieving some uncertainty on what lies ahead for financial companies that centralized in London\u2019s historic financial center. However, gains on the sterling remains limited as PM May would require to receive a full passage from the parliament, in which she still faces opposition from both within her Conservative Party and opposition Labor Party. As for greenback, the currency received further bearish pressure following downbeat economic data released on yesterday. According to US Labor Department, the Consumer Price Index (CPI) for the month of October depreciates to 2.1%, missing economist forecast of 2.2%. While inflation sees some setbacks, analysts believes that it did little to Federal Reserve\u2019s plan in hiking interest rates gradually. As of writing, the dollar index was down 0.32% to 96.80 while pair of GBP\/USD rose 0.40% to 1.2989.<\/p>\n

 <\/p>\n

As for commodities, crude oil price was down 0.04% to $55.99 per barrel after American Petroleum Institute (API) reported a large increase in last week\u2019s crude oil stocks by 8.790 million barrels. Otherwise, gold price rose 0.57% to $1,209.92 a troy ounce following weaker greenback.<\/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

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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

00:30 (16th<\/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 Fed Chair Powell Speaks<\/p>\n

\u00a0<\/u><\/p>\n


\n<\/u><\/p>\n

\u00a0<\/u><\/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 Retail sales (MoM) (Oct)<\/td>\n-0.8%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core Retail Sales (MoM) (Oct)<\/td>\n-0.1%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n214K<\/td>\n216K<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 NY Empire State Manufacturing Index (Nov)<\/td>\n21.10<\/td>\n19.30<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Philadelphia Fed Manufacturing Index (Nov)<\/td>\n22.2<\/td>\n20.7<\/td>\n–<\/td>\n<\/tr>\n
00:00 (16th<\/sup>)<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n5.783M<\/td>\n3.182M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

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DOLLAR_INDX, H1: <\/strong>Dollar index remains traded within a descending channel following prior rebound from the lower level. MACD which illustrate diminishing downward momentum suggests the index to extend its gains in short-term, towards the upper level of the channel.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level of 1.3015. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses in short-term, towards the direction of 1.2955.<\/p>\n

 <\/p>\n

Resistance level: 1.3015, 1.3100<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remains traded within an ascending channel while currently testing at the mid-level. 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: 1.1330, 1.1385<\/p>\n

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

 <\/p>\n

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USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level near 113.30. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 113.70, 113.85<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher and currently testing near the resistance level of 0.7275. MACD which illustrate bullish signal suggests the pair to extend its gains after successfully closing above the threshold of 0.7275.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4:<\/strong> NZDUSD was traded lower following prior retracement from the resistance level of 0.6805. MACD which illustrate negative divergence signal suggests the pair to be traded lower in short-term, towards the direction of 0.6770.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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USDCAD, H1: <\/strong>USDCAD remains traded within a sideways channel following prior retracement from the top level. Due to the lack of signal from MACD and price action, it is suggested to wait for a breakout to occur before entering the market.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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USDCHF, H1: <\/strong>USDCHF remains traded within a descending channel following prior rebound from the lower level. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term, towards the upper level of the channel.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the lower levels. MACD which illustrate increasing bullish momentum suggests the commodity price to extend its gains in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 57.00, 59.45<\/p>\n

Support level: 55.35, 53.90<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retracement from the resistance level near 1215.95. MACD which illustrate diminishing upward momentum suggests its prices to extend its losses in short-term, towards the direction of 1206.00.<\/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":"

15 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   Cabinet supports Brexit draft, sterling surges. US dollar extended its losses on yesterday, weighed by large buyback on the pound sterling after UK Prime Minister Theresa May secured her support from the Cabinet with regards to Brexit deal. In a volatile American session, sterling waivers in greens and […]<\/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\/38247"}],"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=38247"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/38247\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=38247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=38247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=38247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}