{"id":39772,"date":"2018-11-30T02:31:50","date_gmt":"2018-11-30T02:31:50","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=39772"},"modified":"2018-11-30T02:31:50","modified_gmt":"2018-11-30T02:31:50","slug":"301118-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/301118-morning-session-analysis\/","title":{"rendered":"301118 Morning Session Analysis"},"content":{"rendered":"

30 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 dulls as neutral rate approaches.<\/strong><\/span><\/p>\n

US dollar was traded sideways against a basket of six major peers on Thursday as Federal Reserve meeting minutes did little to evoke larger market momentum. As of writing, the dollar index was down 0.02% to 96.62. According to the meeting minutes from November\u2019s meeting, Fed officials continued to expect that further gradual rate hike would be consistent with sustained expansion of the economy. However, latest speech from Fed Chairman Jerome Powell earlier this week has dialed down market expectation for more rate hikes in the future as he deemed the current interest rate range to be \u201cnearing\u201d a neutral rate level. In addition to that, downbeat US economic data which were released recently has also signaled for an economic activity cooling for months to come, further easing investor\u2019s optimism for more monetary policy tightening from the US. On the other hand, pound sterling was pressed down by bearish market as investor\u2019s fret for the outcome of UK Parliament\u2019s vote for Brexit deal on December 11th<\/sup>. The vote would market an important milestone in two years of negotiation between UK and EU and it will determine whether UK will exit with a \u201csoft\u201d or \u201chard\u201d Brexit approach. As such, pair of GBP\/USD was down 0.02% to 1.2779.<\/p>\n

 <\/p>\n

On the commodities market, crude oil price rose 0.10% to $51.19 per barrel. Oil price received some bullish support after Russia reportedly reached a consensus with OPEC that an output reduction is necessary and they will continue to analyze the size and timing of the cuts. Otherwise, gold price was down 0.04% to $1,223.99 a troy ounce as investor\u2019s risk appetite returns for more risky assets such as bonds and stocks.<\/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 Event<\/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
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:00<\/td>\nEUR \u2013 German Retail Sales (MoM) (Oct)<\/td>\n0.1%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 CPI (YoY) (Nov)<\/td>\n2.2%<\/td>\n2.1%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 GDP (QoQ) (Q3)<\/td>\n0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUSD \u2013 Chicago PMI (Nov)<\/td>\n58.4<\/td>\n58.6<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n885<\/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 higher following prior rebound from the support level at 96.60. MACD which illustrate bullish signal suggests the index to extend its gains in short-term, towards the direction of 97.00.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

GPBUSD, H4: <\/strong>GBPUSD remains traded within a descending channel while currently testing at 1.2770. MACD which begins to form a death cross signal suggests the pair to extend its losses after closing below 1.2770.<\/p>\n

 <\/p>\n

Resistance level: 1.2835, 1.2895<\/p>\n

Support level: 1.2770, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded flat following prior rebound from the bottom level of the narrowing triangle. 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: 1.1410, 1.1450<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retrace from the 20-MA line (red). MACD which illustrate persistent downward signal suggests the pair to extend its losses after closing below 113.30.<\/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, H1: <\/strong>AUDUSD was traded lower following prior retracement near the moving average line. MACD which illustrate bearish signal suggests the pair to extend its losses towards the support level at 0.7300.<\/p>\n

 <\/p>\n

Resistance level: 0.7340, 0.7370<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded flat following prior retrace from the resistance level near 0.6890. 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: 0.6890, 0.6940<\/p>\n

Support level: 0.6830, 0.6780<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD remains traded within a range while currently testing at the top level. MACD which illustrate bullish signal suggests the pair to extend its gains after successfully breaking the top level of the range.<\/p>\n

 <\/p>\n

Resistance level: 1.3285, 1.3320<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower levels. MACD which illustrate diminishing downward momentum suggests the pair to extend its gains in short-term as technical correction.<\/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, H1: <\/strong>Crude oil price was traded higher following prior rebound from the moving average line. MACD which illustrate bullish signal suggests the commodity price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 52.00, 53.90<\/p>\n

Support level: 50.25, 49.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the threshold of 1228.00. MACD which illustrate diminishing upward momentum suggests its prices to be traded lower in short-term, towards the direction of 1220.00.<\/p>\n

 <\/p>\n

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

Support level: 1220.00, 1215.95<\/p>\n","protected":false},"excerpt":{"rendered":"

30 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 dulls as neutral rate approaches. US dollar was traded sideways against a basket of six major peers on Thursday as Federal Reserve meeting minutes did little to evoke larger market momentum. As of writing, the dollar index was down 0.02% to 96.62. According to the meeting minutes […]<\/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\/39772"}],"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=39772"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/39772\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=39772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=39772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=39772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}