{"id":42294,"date":"2018-12-28T04:09:10","date_gmt":"2018-12-28T04:09:10","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=42294"},"modified":"2018-12-28T04:09:10","modified_gmt":"2018-12-28T04:09:10","slug":"281218-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/281218-morning-session-analysis\/","title":{"rendered":"281218 Morning Session Analysis"},"content":{"rendered":"

28 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Dollar falls amid poor consumer confidence.<\/strong><\/p>\n

Dollar index weakened against a basket of six major currency pairs after the announcement of US CB Consumer Confidence data yesterday. According to US Conference Board, the data which measure consumer confidence level in US and contributes to the country\u2019s inflation came in at 128.1, missing economists\u2019 expectation of 133.7. As the global economy slowdown continues to weigh on sentiment for the dollar, yesterday\u2019s data boosted dollar bears as it indicates possible inflation slowdown in the US which will then lead to lesser rate hikes by US Federal Reserve for next year. However, Initial Jobless Claims data indicated less than expected claims filed by unemployed individuals which indicates improving employment growth. In other news, pair of EUR\/USD was seen gaining against both the dollar and pound sterling as uncertainties and negative sentiment surrounding both markets made the euro more appealing to investors. Although the Euro Zone remains pressured by European Central Bank (ECB) dovish statement regarding future economic growth for euro, political uncertainties in the UK and US such as Brexit jitters and temporary US government shutdown caused investors to go against both pound and dollar while providing support for euro bulls. Greenback was down by 0.39% to 96.05 while pair of EUR\/USD was up by 0.12% to 1.1445 as of writing.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rebounds by 1.15% to $45.90 during early Asian trading session while market sentiment waits for the delayed inventory report by the API due to the holiday season. As investors are still expecting the cut in oil production by OPEC and other partners to balance the oversupply in the market starting next month, they will first focus on US oil inventory report from API and EIA to gauge the momentum for oil price. On the other hand, gold price inched up by 0.09% to $1275.50 a troy ounce amid weakened dollar.<\/p>\n

 <\/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

N\/A<\/p>\n

 <\/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
21:00<\/td>\nEUR \u2013 German CPI (MoM) (Dec)<\/td>\n0.1%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
22:45<\/td>\nUSD \u2013 Chicago PMI (Dec)<\/td>\n66.4<\/td>\n62.0<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Nov)<\/td>\n-2.6%<\/td>\n0.7%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below previous support level 96.00. MACD which illustrate bearish momentum and the formation of death cross suggest dollar to extend its losses towards the support level 95.70.<\/p>\n

 <\/p>\n

Resistance level: 96.00, 96.25<\/p>\n

Support level: 95.70, 95.25<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remained trade in an ascending channel while currently testing the resistance level 1.2660. MACD which display diminishing bearish signal suggest the pair to extend its gains after successfully closing its candle above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2660, 1.2700<\/p>\n

Support level: 1.2610, 1.2555<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above previous resistance level at 1.1435. MACD which illustrate bullish bias suggest the pair to extend its gains towards the resistance level 1.1470.<\/p>\n

 <\/p>\n

Resistance level: 1.1470, 1.1520<\/p>\n

Support level: 1.1435, 1.1395<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level 110.60. MACD which display diminishing bullish momentum suggest the pair to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 110.90, 111.35<\/p>\n

Support level: 110.60, 110.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout above previous resistance level 0.7035. MACD which illustrate starting bullish momentum suggest the pair to extend its gains towards the resistance level 0.7070.<\/p>\n

 <\/p>\n

Resistance level: 0.7070, 0.7100<\/p>\n

Support level: 0.7035, 0.7000<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level 0.6700. MACD which illustrate diminishing bearish momentum suggest the pair to extend its rebound towards the resistance level 0.6745.<\/p>\n

 <\/p>\n

Resistance level: 0.6745, 0.6785<\/p>\n

Support level: 0.6700, 0.6655<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4:<\/strong> USDCAD was traded lower while currently testing near the support level 1.3610. MACD which display bearish signal suggest the pair to extend its losses after a breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3645, 1.3680<\/p>\n

Support level: 1.3610, 1.3565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower while currently testing near the support level at 0.9835. MACD which display ongoing bearish momentum suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.9875, 0.9920<\/p>\n

Support level: 0.9835, 0.9785<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound near the support level 45.20. MACD which illustrate diminishing bearish momentum suggest the commodity to extend its rebound towards the resistance level 47.00.<\/p>\n

 <\/p>\n

Resistance level: 47.00, 48.50<\/p>\n

Support level: 45.20, 43.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher while currently testing the resistance level 1278.00. MACD which display starting bullish signal and the formation of golden cross suggest gold to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1278.00, 1284.00<\/p>\n

Support level: 1273.50, 1267.00<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

28 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 Morning Session Analysis   Dollar falls amid poor consumer confidence. Dollar index weakened against a basket of six major currency pairs after the announcement of US CB Consumer Confidence data yesterday. According to US Conference Board, the data which measure consumer confidence level in US and contributes to the country\u2019s inflation came […]<\/p>\n","protected":false},"author":20,"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\/42294"}],"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\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=42294"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/42294\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=42294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=42294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=42294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}