{"id":39948,"date":"2018-12-03T02:08:48","date_gmt":"2018-12-03T02:08:48","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=39948"},"modified":"2018-12-03T02:08:48","modified_gmt":"2018-12-03T02:08:48","slug":"031218-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/031218-morning-session-analysis\/","title":{"rendered":"031218 Morning Session Analysis"},"content":{"rendered":"

3 December 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\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Trump-Xi agree to trade war truce.<\/strong><\/span><\/p>\n

US dollar was opened lower against a basket of six major peers on Monday while investors digests the truce between US President Donald Trump and China President Xi Jinping with regards to trade war. The dollar index was quoted down 0.13%, last seen around 97.06 during early Asian trading session. According to reports, Trump and Xi has agreed to keep their trade war from escalating by promising to halt the imposition of new tariffs for 90 days. At the same time, China has agreed to buy a \u201csubstantial\u201d amount of agricultural, industrial and energy products from the US. The truce between two economic giants emerged after a highly anticipated meeting on the sidelines of G20 summit in Argentina. Following the report, risk appetite returned into the market with higher demand for Australian dollar, New Zealand dollar and Chinese yuan. Likewise, equities from emerging market also received higher demand while safe-havens such as Japanese yen and Swiss Franc slipped lower. For the week, investors will place their focus on the highly anticipated US jobs report for fresh indication of US monetary policy in the near future.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price skyrocketed 3.06% to $52.15 per barrel. The commodity received large buybacks following diminishing trade war risk between US and China which have dialed down the expectation of global market slowdown. Otherwise, gold price ticks up 0.04% to $1,222.68 a troy ounce following weaker dollar.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:55<\/td>\nEUR \u2013 German Manufacturing PMI (Nov)<\/td>\n51.6<\/td>\n51.6<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing PMI (Nov)<\/td>\n51.1<\/td>\n51.6<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Nov)<\/td>\n57.7<\/td>\n57.5<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 ISM Manufacturing Employment (Nov)<\/td>\n56.8<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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 illustrate diminishing upward momentum suggests the index to extend its losses, towards the direction of 96.80.<\/p>\n

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

Support level: 96.80, 96.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level near 1.2725. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 1.2770.<\/p>\n

Resistance level: 1.2770, 1.2835<\/p>\n

Support level: 1.2725, 1.2690<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1310. MACD which begin to form a golden cross signal suggests the pair to extend its gains after closing above the 20-MA line (red).<\/p>\n

Resistance level: 1.1360, 1.1410<\/p>\n

Support level: 1.1310, 1.1265<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1:<\/strong> USDJPY was traded lower following prior retracement from the resistance level at 113.85. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses after closing below the 60-MA line (green).<\/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 from 0.7370. However, MACD which continues to illustrate persistent bullish signal suggests the pair to extend its gains after closing above the threshold of 0.7370.<\/p>\n

Resistance level: 0.7370, 0.7415<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was opened higher during early Asian trading session. MACD which illustrate bullish signal and momentum suggests the pair to extend its gains after closing above the threshold of 0.6940.<\/p>\n

Resistance level: 0.6940, 0.7000<\/p>\n

Support level: 0.6890, 0.6830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the higher level. MACD which illustrate bearish signal suggests the pair to extend its losses after successfully breaking the upward trendline.<\/p>\n

Resistance level: 1.3255, 1.3285<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 1.0000. MACD which illustrate bearish signal and momentum suggests the pair to extend its losses after closing below the 20-MA line (red).<\/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 extended gains following prior breakout from the downward trendline. MACD which illustrate persistent bullish signal suggests its prices to extend its gains in short-term, towards the direction of 53.90.<\/p>\n

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

Support level: 52.00, 50.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound near 1215.95. MACD which illustrate significant bullish signal suggests its price to extend its gains in short-term after closing above the 20-MA line (red).<\/p>\n

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

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

3 December 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\u00a0\u00a0\u00a0 Morning Session Analysis   Trump-Xi agree to trade war truce. US dollar was opened lower against a basket of six major peers on Monday while investors digests the truce between US President Donald Trump and China President Xi Jinping with regards to trade war. The dollar index was quoted down 0.13%, last […]<\/p>\n","protected":false},"author":54,"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\/39948"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=39948"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/39948\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=39948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=39948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=39948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}