{"id":44343,"date":"2019-01-18T01:59:19","date_gmt":"2019-01-18T01:59:19","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=44343"},"modified":"2019-01-18T01:59:19","modified_gmt":"2019-01-18T01:59:19","slug":"180119-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/180119-morning-session-analysis\/","title":{"rendered":"180119 Morning Session Analysis"},"content":{"rendered":"

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

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Sterling reigns, dollar dethroned.<\/strong><\/span><\/p>\n

Greenback was little changed on Thursday as most of its upbeat economic data was offset by a strong rise in pound sterling. In the US, Philadelphia Fed reported that its manufacturing index rose to 17 in the month of January, exceeding economist forecast of only 9.7. In addition, initial jobless claims hit its lowest level in 5 weeks, despite government shutdown which has furloughed more than 800,000 federal workers. However, greenback failed to extend any substantial recovery following a change in sentiment within the market. In the UK, Prime Minister Theresa May seeks cross-party consensus upon Brexit conundrum after her government won a vote of confidence last Wednesday. Traders continues to buy into sterling as they speculate UK might be able to secure a withdrawal deal while avoiding to leave the EU without a trade deal. However, uncertainty continues to loom over Brexit as Labor Party leader Jeremy Corbyn has refused to enter into a cross-party talk, demanding May to rule out a no-deal Brexit. As of writing, dollar index was quoted up 0.03% to 95.67 while GBP\/USD tacks up 0.05% to 1.2974.<\/p>\n

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As for commodities, crude oil price rose 0.33% to $52.34 per barrel. Oil prices rebounds from its prior low as US considers to lift China trade tariffs, a move which could reduce the trade tension between both nations. On the other hand, gold price tumbled 0.09% to $1,290.79 a troy ounce following resilient US dollar.<\/p>\n

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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

17:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\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 IEA Monthly Report<\/p>\n

Tentative\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 CrudeOIL\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 OPEC Meeting<\/p>\n

22:05\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Member Williams Speaks<\/p>\n

00:00 (19th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FOMC Member Harker Speaks<\/p>\n

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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
17:30<\/td>\nGBP \u2013 Retail Sales (MoM) (Dec)<\/td>\n1.4%<\/td>\n-0.8%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Core CPI (MoM) (Dec)<\/td>\n-0.2%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:15<\/td>\nUSD \u2013 Industrial Production (MoM) (Dec)<\/td>\n0.6%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Jan)<\/td>\n98.3<\/td>\n97.0<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(19th<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n873<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retrace from the resistance of 95.75. MACD which begins to form a death cross signal suggests the index to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 95.75, 96.10<\/p>\n

Support level: 95.30, 95.00<\/p>\n

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GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from its prior high. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 1.3030, 1.3110<\/p>\n

Support level: 1.2960, 1.2910<\/p>\n

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\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded flat while currently testing near the support of 1.1380. MACD which has formed a bullish divergence signal suggests the pair to extend its gains, towards the direction of 1.1420.<\/p>\n

Resistance level: 1.1420, 1.1450<\/p>\n

Support level: 1.1380, 1.1330<\/p>\n

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\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior rebound from the support level of 108.95. MACD which illustrate bullish signal suggests the pair to advance further upwards after closing above 109.35.<\/p>\n

Resistance level: 109.35, 109.90<\/p>\n

Support level: 108.95, 108.25<\/p>\n

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\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retracement from the top level of descending channel. MACD which illustrate diminished upward momentum suggests the pair to extend its losses, towards 0.7180.<\/p>\n

Resistance level: 0.7220, 0.7255<\/p>\n

Support level: 0.7180, 0.7145<\/p>\n

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\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retrace from the downward trendline. MACD which illustrate diminished upward momentum suggests the pair to advance further downwards after closing below the 20-MA line (red).<\/p>\n

Resistance level: 0.6780, 0.6840<\/p>\n

Support level: 0.6710, 0.6645<\/p>\n

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\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior retracement from the 20-MA line (red). MACD which illustrate bearish signal suggests the pair to advance further downwards, towards the support at 1.3260.<\/p>\n

Resistance level: 1.3290, 1.3320<\/p>\n

Support level: 1.3260, 1.3230<\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance of 0.9950. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 0.9950, 0.9990<\/p>\n

Support level: 0.9905, 0.9835<\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil price remains traded within a sideways channel following prior rebound from its lower level. MACD which illustrate bullish signal suggests its prices to extend its gains after successfully closing above the level of 52.75.<\/p>\n

Resistance level: 52.75, 54.10<\/p>\n

Support level: 51.50, 50.50<\/p>\n

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\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price remains traded within a sideways channel following prior retrace from the top level. Due to the lack of signal from MACD and price action, it is suggested to wait for a breakout before entering the market.<\/p>\n

Resistance level: 1297.00, 1303.00<\/p>\n

Support level: 1287.20, 1284.35<\/p>\n","protected":false},"excerpt":{"rendered":"

18 January 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis     Sterling reigns, dollar dethroned. Greenback was little changed on Thursday as most of its upbeat economic data was offset by a strong rise in pound sterling. In the US, Philadelphia Fed reported that its manufacturing index rose to 17 in the month of January, exceeding economist forecast […]<\/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\/44343"}],"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=44343"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/44343\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=44343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=44343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=44343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}