{"id":46507,"date":"2019-02-13T01:15:48","date_gmt":"2019-02-13T01:15:48","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=46507"},"modified":"2019-02-13T01:15:48","modified_gmt":"2019-02-13T01:15:48","slug":"130219-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130219-morning-session-analysis\/","title":{"rendered":"130219 Morning Session Analysis"},"content":{"rendered":"

13 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\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

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Greenback retraces as its peer shines.<\/strong><\/span><\/p>\n

US dollar retraced from its previous high on Tuesday following a rebound in other major currencies such as Pound Sterling and Canadian dollar. In UK, sterling received larger buyback after British Prime Minister Theresa May asked lawmakers for more time to reach an agreement with the European Union on amending the Irish backstop issue. With only less than six weeks until UK leaves EU on 29th<\/sup> March, Theresa May received criticism in an attempt to pressure pro-Brexit lawmakers in supporting her withdrawal deal by reducing the amount of time for debate. On the other hand, Canadian dollar received higher demand in the FX market following a sharp rebound in oil prices. As Canadian economy largely depends on crude oil exports, any significant movement on the commodity\u2019s price would affect their currency. Nevertheless, losses on the greenback were limited after JOLTs Job Openings came in higher than expected with 7.335 million versus 6.900 million, indicating higher supply of jobs in a robust hiring condition. As of writing: dollar index was down 0.35% to 96.47; GBP\/USD rose 0.04% to 1.2896; USD\/CAD depreciates by 0.05% to 1.3234.<\/p>\n

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As for commodities, crude oil price appreciates by 0.09% to $53.30 per barrel. Oil prices rebound sharply after Saudi Arabia announced to cut more supply than previously announced in December. Likewise, gold prices extended gains by 0.05% to $1,311.49 a troy ounce due to weaker 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 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 Event<\/strong><\/p>\n

Tentative\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\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 IEA Monthly Report<\/p>\n

03:10 (14th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 NZD\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 RBNZ Gov Orr Speaks<\/p>\n

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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
17:30<\/td>\nGBP \u2013 CPI (YoY) (Jan)<\/td>\n2.1%<\/td>\n1.9%<\/td>\n–<\/td>\n<\/tr>\n
18:00<\/td>\nEUR \u2013 Industrial Production (MoM) (Dec)<\/td>\n-1.7%<\/td>\n-0.4%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUSD \u2013 Core CPI (MoM) (Jan)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 EIA Crude Oil Inventories<\/td>\n1.263M<\/td>\n2.668M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"DOLLAR_INDX, H1: <\/strong>Dollar index was traded lower following prior closure below the upward trendline. MACD which illustrate bearish signal suggests the index to extend its losses, towards the direction of 96.30.<\/p>\n

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

Support level: 96.30, 96.00
\n<\/strong><\/p>\n

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\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2855. MACD which has formed a golden cross signal suggests the pair to extend its gains after breaking the downward trendline.<\/p>\n

Resistance level: 1.2930, 1.2990<\/p>\n

Support level: 1.2855, 1.2800<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1270. MACD which has formed a bullish signal suggests the pair to extend its gains, towards the direction of 1.1355.<\/p>\n

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

Support level: 1.1300, 1.1270<\/p>\n

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retrace while currently testing at 110.50. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 111.00, 111.45<\/p>\n

Support level: 110.50, 110.00<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support of 0.7070. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 0.7170.<\/p>\n

Resistance level: 0.7170, 0.7275<\/p>\n

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

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\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support of 0.6710. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the 20-MA line (red).<\/p>\n

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

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

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior closure below the support of 1.3280. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the target of 1.3220.<\/p>\n

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

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

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retrace from the resistance at 1.0080. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

Resistance level: 1.0080, 1.0130<\/p>\n

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

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\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price extended gains following prior closure above 52.80. MACD which illustrate bullish signal suggests its prices to advance further upwards after successfully breaking the resistance of 53.70.<\/p>\n

Resistance level: 53.70, 54.40<\/p>\n

Support level: 52.80, 51.85<\/p>\n

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\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retrace from the resistance at 1315.00. MACD which illustrate diminished upward momentum suggests its prices to be traded lower in short-term as technical correction.<\/p>\n

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

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

13 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\u00a0\u00a0 Morning Session Analysis     Greenback retraces as its peer shines. US dollar retraced from its previous high on Tuesday following a rebound in other major currencies such as Pound Sterling and Canadian dollar. In UK, sterling received larger buyback after British Prime Minister Theresa May asked lawmakers for more time to […]<\/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\/46507"}],"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=46507"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/46507\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=46507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=46507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=46507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}