{"id":53706,"date":"2019-04-12T00:49:40","date_gmt":"2019-04-12T00:49:40","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=53706"},"modified":"2019-04-12T00:49:40","modified_gmt":"2019-04-12T00:49:40","slug":"120419-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/120419-morning-session-analysis\/","title":{"rendered":"120419 Morning Session Analysis"},"content":{"rendered":"

12 April 2019\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

 <\/p>\n

 <\/p>\n

Greenback rebounds, but for how long?<\/strong><\/span><\/p>\n

US dollar rebounds sharply on yesterday following optimistic wholesale inflation data and jobless claims which helped to ease investors\u2019 concerns over Federal Reserve interest rate cut possibility. The dollar index was quoted up 0.23% to 96.75 against six major currencies. According to US Labor Department, Core Producer Price Index for the month of March rose by 0.3%, beating economists\u2019 forecast for a rise of 0.2%. In addition, last week\u2019s Initial Jobless Claims dropped by 8,000 individuals to a total of only 196,000, significantly lower than forecast for a rise up to 211,000. Both reports were released a day after Federal Reserve\u2019s meeting minutes shows that majority of policymakers expected the central bank to held off from raising interest rates further for the year 2019. On the other hand, pair of EUR\/USD pared some losses by 0.09% to 1.1260 during Asian trading session. On yesterday, euro received tremendous bearish pressure following optimistic economic data from the US. Likewise, overall sentiment towards the EU zone is tilted towards bearish following gloomy economic outlook and sentiment given by the European Central Bank prior.<\/p>\n

 <\/p>\n

As for commodities, crude oil price depreciates by 0.06% to $63.62 per barrel. Oil prices extended its losses after International Energy Agency noted that demand is a \u201cvery important\u201d factor in oil market rebalancing and it is being jeopardized by higher risk of diminishing economic growth. Otherwise, gold price was down 0.01% to $1,292.54 a troy ounce following a sharp rebound in 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

N\/A<\/p>\n

 <\/p>\n

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
17:00<\/td>\nEUR \u2013 Industrial Production (MoM) (Feb)<\/td>\n1.4%<\/td>\n-0.5%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Import Price Index (MoM) (Mar)<\/td>\n0.6%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Apr)<\/td>\n98.4<\/td>\n98.1<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/p>\n

(13th<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n831<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the bottom level of sideways channel. MACD which illustrate bullish signal suggests the index to extend its gains, towards the direction of 97.00.<\/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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\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance near 1.3110. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 1.3015.<\/p>\n

 <\/p>\n

Resistance level: 1.3110, 1.3155<\/p>\n

Support level: 1.3015, 1.2965<\/p>\n

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\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded within a sideways channel following prior rebound from the bottom level. MACD which illustrate diminished downward momentum suggests the pair to experience short-term correction following a successful rebound from the bottom.<\/p>\n

 <\/p>\n

Resistance level: 1.1275, 1.1300<\/p>\n

Support level: 1.1255, 1.1230<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/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 111.75.<\/p>\n

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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 upper level. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 0.7115.<\/p>\n

 <\/p>\n

Resistance level: 0.7130, 0.7150<\/p>\n

Support level: 0.7115, 0.7090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower while currently testing near the support of 0.6720. MACD which continues to illustrate bearish signal suggests the pair to extend its losses after closing below 0.6720.<\/p>\n

 <\/p>\n

Resistance level: 0.6745, 0.6765<\/p>\n

Support level: 0.6720, 0.6700<\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the mid-level of sideways channel. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 1.3400.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher following prior rebound from the support at 0.9995. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 1.0040.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the upward trendline. MACD which illustrate diminished downward momentum suggests its prices to be traded higher in short-term after closing above 63.70.<\/p>\n

 <\/p>\n

Resistance level: 63.70, 64.65<\/p>\n

Support level: 62.80, 61.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior breakout from the support of 1295.65. MACD which illustrate bearish signal may suggests its prices to extend its losses in mid-term, towards the lower level of the downward channel.<\/p>\n

 <\/p>\n

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

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

12 April 2019\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 rebounds, but for how long? US dollar rebounds sharply on yesterday following optimistic wholesale inflation data and jobless claims which helped to ease investors\u2019 concerns over Federal Reserve interest rate cut possibility. The dollar index was quoted up 0.23% to 96.75 against six major currencies. According […]<\/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\/53706"}],"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=53706"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/53706\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=53706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=53706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=53706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}