{"id":46233,"date":"2019-02-11T01:16:46","date_gmt":"2019-02-11T01:16:46","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=46233"},"modified":"2019-02-11T01:16:46","modified_gmt":"2019-02-11T01:16:46","slug":"110219-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/110219-morning-session-analysis\/","title":{"rendered":"110219 Morning Session Analysis"},"content":{"rendered":"

11th<\/sup> February 2019\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

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Trade talks all over again.<\/strong><\/span><\/p>\n

Last Friday, US dollar extended its gains to 9-month high against other major peers as investors piled into the currency following concerns over global economic recession. As of writing, the dollar index was quoted up 0.13% to 96.23. Widespread concerns over global economic growth and its momentum remains rift following recessive economic data that were released from several powerhouse such as China and German. Moreover, such concern was further compounded after US President Donald Trump indicates that he does not have a plan to meet with Chinese President Xi Jinping prior to 90-day trade truce which is due to expire on March 1st<\/sup>. As such, investors will now place their focus upon the meetings between officials from Washington and Beijing which is bound to start on Monday for further market signals. On the other hand, pair of EUR\/USD extended its losses by 0.07% to 1.1320. The currency posted its steepest weekly loss against the US dollar after recent economic data from the region showed possible slowdown.<\/p>\n

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In the commodities market, crude oil price depreciates by 0.25% to $52.47 per barrel. Worries over global widespread of economic slowdown has reduced market demand for crude oil and thus placing bearish pressure upon its prices. Similarly, gold prices were down 0.05% to $1,313.46 a troy ounce due to stronger greenback.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0\u00a0\u00a0 National Founding Day<\/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

N\/A<\/p>\n

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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
17:30<\/td>\nGBP \u2013 GDP (QoQ) (Q4)<\/td>\n0.6%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
17:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Dec)<\/td>\n-0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nCAD \u2013 Trade Balance (Dec)<\/td>\n-2.06B<\/td>\n–<\/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, H4: <\/strong>Dollar index was traded higher following prior closure above 96.30. However, MACD which illustrate bearish signal suggests the index to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 96.65, 97.00<\/p>\n

Support level: 96.30, 96.00
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GBPUSD, H1: <\/strong>GBPUSD was traded flat near the support level of 1.2930. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 1.2990, 1.3060<\/p>\n

Support level: 1.2930, 1.2855<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following a slight rebound near the threshold of 1.1300. MACD which begins to form a golden cross signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 1.1355, 1.1415<\/p>\n

Support level: 1.1300, 1.1215<\/p>\n

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USDJPY, H1: <\/strong>USDJPY remains traded within a sideways channel in between 109.55 and 110.00. 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: 110.00, 110.50<\/p>\n

Support level: 109.55, 108.95<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support of 0.7070. MACD which has begun 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: 0.7170, 0.7275<\/p>\n

Support level: 0.7070, 0.7015<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded higher following a rebound prior to the support level at 0.6710. As MACD continues to illustrate persistent bullish signal, the pair is suggested to be traded higher in short-term as technical correction.<\/p>\n

Resistance level: 0.6780, 0.6820<\/p>\n

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

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USDCAD, H1: <\/strong>USDCAD was traded higher while currently testing near the resistance of 1.3280. MACD which illustrate diminished downward momentum suggests the pair to extend its gains after closing above the threshold of 1.3280.<\/p>\n

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

Support level: 1.3220, 1.3175<\/p>\n

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USDCHF, H1: <\/strong>USDCHF was traded higher following prior rebound near the upward trendline. MACD which illustrate slightly diminished downward momentum suggests the pair to be traded higher after closing above at 1.0000.<\/p>\n

Resistance level: 1.0000, 1.0040<\/p>\n

Support level: 0.9970, 0.9945<\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil price was traded lower following prior retracement from the resistance at 52.80. MACD which illustrate diminished upward momentum suggests its prices to advance further down, towards the direction of 51.85.<\/p>\n

Resistance level: 52.80, 53.70<\/p>\n

Support level: 51.85, 51.15<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level near 1315.00. MACD which illustrate diminished upward momentum may suggests its prices to be traded lower in short-term after closing below the 60-MA line (green).<\/p>\n

Resistance level: 1315.00, 1329.00<\/p>\n

Support level: 1303.00, 1292.85<\/p>\n","protected":false},"excerpt":{"rendered":"

11th February 2019\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     Trade talks all over again. Last Friday, US dollar extended its gains to 9-month high against other major peers as investors piled into the currency following concerns over global economic recession. As of writing, the dollar index was quoted up 0.13% to 96.23. Widespread concerns over global […]<\/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\/46233"}],"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=46233"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/46233\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=46233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=46233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=46233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}