{"id":48399,"date":"2019-03-04T01:10:58","date_gmt":"2019-03-04T01:10:58","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=48399"},"modified":"2019-03-04T01:10:58","modified_gmt":"2019-03-04T01:10:58","slug":"040319-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/040319-morning-session-analysis\/","title":{"rendered":"040319 Morning Session Analysis"},"content":{"rendered":"

4 <\/strong>March<\/strong> 2019\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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Dollar defy bears, trade talk in focus.<\/strong><\/span><\/p>\n

Greenback rose sharply last Friday despite downbeat US economic data as market sentiment turned positive following upbeat outlook upon world economies and higher prospect towards the achievement of a trade deal between US and China. The dollar index edged up 0.29% to 96.32 as of writing. The dollar remained resilient in wake of bearish manufacturing, inflation and consumption data that did little to suppress US economic progression. Economists suspects the bearish data may be due to governmental shutdown that dampens domestic market sentiment in terms of spending and goods demand. Likewise, positive development in trade talks between US and China added up bullish support on the greenback as a resolution in trade war may brighten up the outlook of global economic growth. In addition, the greenback was further boosted following a slip in pound sterling as investors book profits following the currency\u2019s sharp gain last week amid a possible delay in Brexit and diminishing risk of a no-deal exit. Pair of GBP\/USD depreciates by 0.14% to 1.3229 during early Asian trading session.<\/p>\n

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As for commodities, crude oil price plunged more than 3% last Friday to $55.77 per barrel. Oil prices settled lower last week following continuous increase US oil production which has risen more than 2 million bpd last year to a total of 12.1 million bpd. On the other hand, gold price plunged more than 1% last Friday to $1,289.55 a troy ounce following a sharp rebound on the 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

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

N\/A<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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 Construction PMI (Feb)<\/td>\n50.6<\/td>\n50.3<\/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 lower following prior retracement from the upper level. MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term as technical correction.<\/p>\n

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

Support level: 96.00, 95.50
\n<\/strong><\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the upward trendline. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

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Resistance level: 1.3235, 1.3350<\/p>\n

Support level: 1.3170, 1.3010<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior retrace from the 20-MA line (red). MACD which illustrate bearish signal suggests the pair to extend its losses in short-term, towards the direction of 1.1360.<\/p>\n

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Resistance level: 1.1400, 1.1440<\/p>\n

Support level: 1.1360, 1.1310<\/p>\n

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USDJPY, Daily: <\/strong>USDJPY was traded higher following prior rebound from the upward trendline. MACD which illustrate bullish signal suggests the pair to advance further up, towards the direction of 112.20.<\/p>\n

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Resistance level: 112.20, 112.80<\/p>\n

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

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AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retrace from the resistance of 0.7105. MACD which illustrate bearish bias suggests the pair to advance further down, towards the direction of 0.7070.<\/p>\n

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Resistance level: 0.7100, 0.7170<\/p>\n

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

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NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retrace from the resistance of 0.6820. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 0.6780.<\/p>\n

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Resistance level: 0.6820, 0.6850<\/p>\n

Support level: 0.6780, 0.6735<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher following prior closure above the target of 1.3280. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 1.3325.<\/p>\n

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Resistance level: 1.3325, 1.3360<\/p>\n

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

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USDCHF, H4: <\/strong>USDCHF remains traded within a descending channel following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

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Resistance level: 1.0005, 1.0040<\/p>\n

Support level: 0.9975, 0.9950<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower while recently formed a pin-bar candlestick formation. MACD which illustrate bearish signal suggests its prices to be traded lower, towards the direction of 55.60.<\/p>\n

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Resistance level: 56.45, 57.45<\/p>\n

Support level: 55.60, 55.15<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support of 1294.00. MACD which illustrate bearish signal suggests its prices to advance further down, after successfully closing below the target of 1294.00.<\/p>\n

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Resistance level: 1305.60, 1315.45<\/p>\n

Support level: 1294.00, 1280.20<\/p>\n","protected":false},"excerpt":{"rendered":"

4 March 2019\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 defy bears, trade talk in focus. Greenback rose sharply last Friday despite downbeat US economic data as market sentiment turned positive following upbeat outlook upon world economies and higher prospect towards the achievement of a trade deal between US and China. The dollar index edged up […]<\/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\/48399"}],"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=48399"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/48399\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=48399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=48399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=48399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}