{"id":52836,"date":"2019-04-08T00:42:58","date_gmt":"2019-04-08T00:42:58","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=52836"},"modified":"2019-04-08T00:50:03","modified_gmt":"2019-04-08T00:50:03","slug":"080419-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/080419-afternoon-session-analysis\/","title":{"rendered":"080419 Morning Session Analysis"},"content":{"rendered":"

8 April 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 Morning Session Analysis<\/strong><\/p>\n

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Greenback rose albeit mixed NFP report.<\/strong><\/span><\/p>\n

Greenback extended its gains during last Friday trading despite mixed employment report that may hinder Federal Reserve from raising interest rates further for the year 2019. As of writing, the dollar index was up 0.02% to 96.94 during early Asian trading session. According to Bureau of Labor Statistics, Nonfarm Payrolls for the month of March came in at 182,000, significantly higher than forecast of 175,000. While unemployment rate remained unchanged at 3.8%, Average Hourly Earnings slowed down to 0.1%, missing economists\u2019 forecast for a rise of 0.3%. A slowdown in wage growth may lead to slower progression in inflation and rising inflation is one of the key reasons for raising interest rates in the United States. On the other hand, pound sterling experienced tremendous selling pressure on last Friday following bearish developments in the UK with regards to Brexit. According to reports, EU leaders commented that UK Prime Minister Theresa May had not delivered credible reason to be granted an extension on Brexit deadline. Such comments spark higher concern in the market whereby UK may leave EU without any deal on 12th<\/sup> April. The news came after May and opposition leader Jeremy Corbyn failed to break the Brexit deadlock, leaving the PM little option but to ask EU for a second extension. Pair of GBP\/USD ticks up 0.02% to 1.3039 this morning.<\/p>\n

 <\/p>\n

In the commodities, crude oil price rose by 0.24% to $63.31 per barrel during Asian trading session. Oil futures was well in bid after reports shows substantial decline in oil production at Saudi Arabia\u2019s largest oil field. Likewise, a possible military clash in Libya has also bolstered market optimism as political unrest may lead to the shutdown of oilfield activities in the region. On the other hand, gold price rose 0.13% to $1,293.24 a troy ounce following larger buyback near the key level of $1,285.00.<\/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\n
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
14:00<\/td>\nEUR \u2013 German Trade Balance (Feb)<\/td>\n18.5B<\/td>\n18.0B<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Factory Orders (MoM) (Feb)<\/td>\n0.1%<\/td>\n-0.5%<\/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 lower following prior retracement from the resistance of 97.00. MACD which illustrate diminishing upward momentum suggests the index to be traded lower in short-term as technical correction.<\/p>\n

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Resistance level: 97.00, 97.40<\/p>\n

Support level: 96.50, 95.95<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the lower level of the channel. MACD which illustrate diminished downward momentum suggests the pair to be traded in short-term as technical correction.<\/p>\n

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Resistance level: 1.3100, 1.3155<\/p>\n

Support level: 1.3015, 1.2960<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior retrace from the resistance of 1.1245. MACD which begins to form a death cross signal suggests the pair to be traded in a downtrend for mid-term, towards the level of 1.1185.<\/p>\n

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Resistance level: 1.1245, 1.1300<\/p>\n

Support level: 1.1185, 1.1100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from the resistance at 111.75. MACD which begins to form a bearish signal suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 111.75, 112.20<\/p>\n

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

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the top level of descending channel. MACD which has formed a death cross signal suggests the pair to extend its losses after a closure below 0.7090.<\/p>\n

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Resistance level: 0.7115, 0.7130<\/p>\n

Support level: 0.7090, 0.7070<\/p>\n

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NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior closure below 0.6745. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 0.6700.<\/p>\n

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Resistance level: 0.6745, 0.6795<\/p>\n

Support level: 0.6700, 0.6650<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the support of 1.1370. MACD which illustrate diminished upward momentum suggests the pair to extend its losses after closing below the target of 1.1370.<\/p>\n

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Resistance level: 1.3400, 1.3435<\/p>\n

Support level: 1.3370, 1.3340<\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded flat near the support level of 0.9995. MACD which begins to form a death cross signal suggests the pair to experience technical correction following a successful closure below the support level of 0.9995.<\/p>\n

 <\/p>\n

Resistance level: 1.0040, 1.0070<\/p>\n

Support level: 0.9995, 0.9945<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the support near 61.60. MACD which has formed a golden cross signal suggests its prices to be traded higher in short-term after closing above 63.70.<\/p>\n

 <\/p>\n

Resistance level: 63.70, 66.00<\/p>\n

Support level: 61.60, 59.65<\/p>\n

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\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded flat near the 20-MA line (red). However, MACD which illustrate persistent bullish signal suggests its prices to be traded higher in short-term, towards the direction of 1295.65.<\/p>\n

 <\/p>\n

Resistance level: 1295.65, 1302.50<\/p>\n

Support level: 1284.15, 1275.30<\/p>\n","protected":false},"excerpt":{"rendered":"

8 April 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 Morning Session Analysis     Greenback rose albeit mixed NFP report. Greenback extended its gains during last Friday trading despite mixed employment report that may hinder Federal Reserve from raising interest rates further for the year 2019. As of writing, the dollar index was up 0.02% to 96.94 during early Asian trading […]<\/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\/52836"}],"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=52836"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/52836\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=52836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=52836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=52836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}