{"id":43313,"date":"2019-01-09T03:35:48","date_gmt":"2019-01-09T03:35:48","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=43313"},"modified":"2019-01-09T03:41:51","modified_gmt":"2019-01-09T03:41:51","slug":"090119-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/090119-morning-session-analysis\/","title":{"rendered":"090119 Morning Session Analysis"},"content":{"rendered":"

9 January 2019\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

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Dollar rebound from lows, sterling falls.<\/strong><\/span><\/p>\n

Dollar index rallied against a basket of six major currency pairs before early Asian trading session amid uncertainties in Brexit issue which caused investors to shift their investment to the dollar market. With global market sentiment worsening, the pressure weighing on pound sterling provided investors with confidence towards the dollar market although US JOLTs Job Openings data was lower than expected, indicating much less job opportunities. At the moment, all eyes will be placed on UK Parliamentary vote on Prime Minister Theresa May\u2019s Brexit withdrawal on 15th<\/sup> January whereby a rejection towards the deal may caused a large sell-off for the pound sterling and increasing the chances for a hard Brexit. Besides that, investors are also waiting for the results of trade negotiations between US and China held two days ago where hopes of a trade deal may recover market sentiment. Dollar index was up by 0.10% to 95.45 while pair of GBP\/USD was down by 0.08% to 1.2720 as of writing.<\/p>\n

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For the commodities market, crude oil price surged by 1.47% to $50.50 amid recovered hopes on easing of trade wars as US and China met up for trade negotiations two days ago. Investors are bidding on a positive outcome which will further increase the demand for crude oil. Further supporting the oil prices was OPEC\u2019s production cut effective since 1st<\/sup> January to balance the price and inventory of crude oil. On the other hand, gold price edged higher by 0.06% to $1285.85 amid dollar fall.<\/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 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/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 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

23:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoC Monetary Policy Report<\/p>\n

23:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 BoE Gov Carney Speaks<\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
18:00<\/td>\nEUR \u2013 Unemployment Rate (Nov)<\/td>\n8.1%<\/td>\n8.1%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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DOLLAR_INDX, H1: <\/strong>Dollar index was traded higher following prior gap down from the top level. However, MACD which illustrate diminishing bullish momentum and the formation of death cross suggest the index to undergo technical correction in short term toward the support level at 95.15.<\/p>\n

Resistance level: 95.60, 96.00<\/p>\n

Support level: 95.15, 94.60<\/p>\n

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GBPUSD, H1: <\/strong>GBPUSD was traded higher following prior rebound from the support level near the support level at 1.2700. MACD which illustrate starting of bullish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 1.2785.<\/p>\n

Resistance level: 1.2785, 1.2855<\/p>\n

Support level: 1.2700, 1.2600<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher in the sideway channel following prior rebound from the support level at 1.1430. However, MACD which illustrate diminishing bullish momentum suggest the pair to undergo technical correction toward the support level at 1.1430.<\/p>\n

Resistance level: 1.1480, 1.1515<\/p>\n

Support level: 1.1430, 1.1410<\/p>\n

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USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level at 108.55. MACD which illustrate diminishing of bearish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 109.45.<\/p>\n

Resistance level: 109.45, 110.25<\/p>\n

Support level: 108.55, 107.70<\/p>\n

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AUDUSD, H1: <\/strong>AUDUSD was traded higher following prior breakout above the previous resistance level at 0.7150. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gain toward the resistance level at 0.7235.<\/p>\n

Resistance level: 0.7235, 0.7300<\/p>\n

Support level: 0.7150, 0.7100<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior breakout above the previous the resistance level at 0.6740. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains toward the resistance level at 0.6765.<\/p>\n

Resistance level: 0.6765, 0.6790<\/p>\n

Support level: 0.6740, 0.6715<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3280. However, MACD which illustrate diminishing bearish momentum suggest the pair to extend its losses toward the support level at 1.3190.<\/p>\n

Resistance level: 1.3280, 1.3325<\/p>\n

Support level: 1.3190, 1.3140<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded higher in the sideway channel following prior rebound from the support level at 0.9790. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the channel\u2019s top level at 0.9855.<\/p>\n

Resistance level: 0.9825, 0.9855<\/p>\n

Support level: 0.9790, 0.9755<\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil was traded higher following prior breakout above the previous resistance level at 49.75. MACD which illustrate bullish bias momentum suggest the pair to extend its gains toward the resistance level at 51.05.<\/p>\n

Resistance level: 51.05, 52.90<\/p>\n

Support level: 49.75, 48.35<\/p>\n

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GOLD_H1: <\/strong>Gold was traded higher following prior breakout above the previous resistance level at 1282.65. However, MACD which illustrate diminishing bullish momentum suggest the commodity to undergo technical correction in short term toward the support level at 1282.65.<\/p>\n

Resistance level: 1289.70, 1296.95<\/p>\n

Support level: 1282.65, 1277.10<\/p>\n","protected":false},"excerpt":{"rendered":"

9 January 2019\u00a0\u00a0 Morning Session Analysis     Dollar rebound from lows, sterling falls. Dollar index rallied against a basket of six major currency pairs before early Asian trading session amid uncertainties in Brexit issue which caused investors to shift their investment to the dollar market. With global market sentiment worsening, the pressure weighing on […]<\/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\/43313"}],"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=43313"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/43313\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=43313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=43313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=43313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}