{"id":39491,"date":"2018-11-28T01:57:15","date_gmt":"2018-11-28T01:57:15","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=39491"},"modified":"2018-11-28T01:57:15","modified_gmt":"2018-11-28T01:57:15","slug":"281118-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/281118-morning-session-analysis\/","title":{"rendered":"281118 Morning Session Analysis"},"content":{"rendered":"

28 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

Sterling plunged after Trump comments.<\/strong><\/span><\/p>\n

US dollar rose against its rivals on Tuesday while shrugging off bearish economic data due to a large selloff in pound sterling. As of writing, the dollar index was quoted up 0.30% to 97.22 during early Asian session. In the economic front, the Conference Board\u2019s Consumer Confidence Gauge fell to a reading of 135.7 for the month of November, missing economist forecast for a reading of 135.9. The data is a leading indicator of consumer spending as it plays major role in inflation and overall economic activity. In addition, the dollar received some bullish pressure following contradictory remarks from Federal Reserve Vice Chairman Richard Clarida. According to Clarida, he backs for a continuous gradual rate hikes for the time to come and there was no agreement as to \u201chow close\u201d interest rates were approaching the neutral level. On the other hand, pound sterling received tremendous bearish pressure following pessimistic outlook with regards to Brexit. According to reports, US President Donald Trump said that the Brexit agreement achieved between UK and EU may hamper trades between the US and UK, dialing down optimism for a smooth Brexit transition ahead. During Asian session, pair of GBP\/USD was down 0.04% to 1.2741.<\/p>\n

 <\/p>\n

As for commodities, crude oil price extended its losses by 0.19% to $51.90 per barrel. The commodity remained on its backfoot as investors anxiously eyeing on OPEC\u2019s upcoming meeting for further clarity with regards to future supply cuts. Otherwise, gold price depreciates by 0.08% to $1,214.05 a troy ounce following resilient 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

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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

01:00 (29th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Fed Chair Powell Speaks<\/p>\n

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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
21:30<\/td>\nUSD \u2013 GDP (QoQ)(Q3)<\/td>\n3.5%<\/td>\n3.6%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 New Home Sales (Oct)<\/td>\n553K<\/td>\n583K<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n4.851M<\/td>\n0.769M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout from 97.00. MACD which illustrate bullish signal suggests the index to extend its gains, towards the direction of resistance level at 97.40.<\/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, H4: <\/strong>GBPUSD was traded lower following prior breakout from the support level of 1.2770. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.2690.<\/p>\n

 <\/p>\n

Resistance level: 1.2770, 1.2895<\/p>\n

Support level: 1.2690, 1.2570<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior closure below the threshold of 1.1310. MACD which continues to illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.1265.<\/p>\n

 <\/p>\n

Resistance level: 1.1310, 1.1360<\/p>\n

Support level: 1.1265, 1.1220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower following prior retracement from the higher levels. MACD which begins to form a negative divergence signal suggests the pair to extend its losses after successfully closing below 113.70.<\/p>\n

 <\/p>\n

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

Support level: 113.70, 113.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.7215. MACD which begins to form a bullish signal suggests the pair to extend its gains in short-term after closing above the 20-MA line (red).<\/p>\n

 <\/p>\n

Resistance level: 0.7265, 0.7300<\/p>\n

Support level: 0.7215, 0.7170<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retracement from the top level of descending channel. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses in short-term, towards the lower level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 0.6795, 0.6815<\/p>\n

Support level: 0.6775, 0.6745<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the support level near 1.3255. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 1.3320.<\/p>\n

 <\/p>\n

Resistance level: 1.3320, 1.3385<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF remains traded within an ascending channel following prior rebound from the lower level. MACD which illustrate diminishing downward momentum suggests the pair to extend its gains in short-term, towards the direction of 1.0000.<\/p>\n

 <\/p>\n

Resistance level: 1.0000, 1.0040<\/p>\n

Support level: 0.9955, 0.9930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests its prices to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

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

Support level: 49.50, 47.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout from the strong support of 1220.00. MACD which illustrate bearish signal suggests its prices to extend its losses after closing below the support of 1212.00.<\/p>\n

 <\/p>\n

Resistance level: 1215.95, 1220.00<\/p>\n

Support level: 1212.00, 1206.00<\/p>\n","protected":false},"excerpt":{"rendered":"

28 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   Sterling plunged after Trump comments. US dollar rose against its rivals on Tuesday while shrugging off bearish economic data due to a large selloff in pound sterling. As of writing, the dollar index was quoted up 0.30% to 97.22 during early Asian session. In the economic front, the […]<\/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\/39491"}],"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=39491"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/39491\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=39491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=39491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=39491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}