{"id":55036,"date":"2019-04-22T01:01:29","date_gmt":"2019-04-22T01:01:29","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=55036"},"modified":"2019-04-22T01:01:29","modified_gmt":"2019-04-22T01:01:29","slug":"220419-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220419-morning-session-analysis\/","title":{"rendered":"220419 Morning Session Analysis"},"content":{"rendered":"

22 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 retraces while losses remains limited.<\/strong><\/span><\/p>\n

US dollar inched lower during early Asian trading session as a number of markets around the globe reopens following Good Friday holiday last week. The dollar index was quoted down 0.10% to 97.07 this morning. Overall, the losses on the greenback remains limited as the currency remained underpinned by optimistic outlook towards the US economy. Last Thursday, latest data shows that US retail sales grew at its strongest pace in 1 and a half years for the month of March. The data suggests that consumer spending in the market remains resilient which would continue to bring some support upon US inflation progression. For the week ahead, market participants will be looking forward to central bank meetings in Japan and Canada to gain fresh insights from policymakers with regards to global economic outlook. Likewise, traders will also continue to scrutinize trade negotiation in between US and China which had made significant progress for the past few weeks. Against other major peers, pair of GBP\/USD was up 0.05% to $1.2995 while EUR\/USD was down 0.03% to 1.1242.<\/p>\n

 <\/p>\n

In the commodities section, crude oil price rose 0.50% to $64.28 per barrel this morning. Oil prices remained supported by bullish sentiment following a drop in crude shipments from Saudi Arabia and a draw in US oil inventories last week. Otherwise, gold price inched up 0.07% to $1,276.51 a troy ounce due to a weaker greenback.<\/p>\n

 <\/p>\n

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 AUD\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 Easter Monday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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 Easter Monday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\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 Easter Monday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\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 Easter Monday<\/p>\n

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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 Easter Monday (Germany)<\/p>\n

 <\/p>\n

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
Time<\/strong><\/td>\nMarket & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
21:45<\/td>\nUSD \u2013 Manufacturing PMI (Apr)<\/td>\n52.4<\/td>\n53.6<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Mar)<\/td>\n5.51M<\/td>\n5.31M<\/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 opened lower while currently testing at the support of 97.00. MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 97.30, 97.65<\/p>\n

Support level: 97.00, 96.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded lower following prior closure below the support at 1.3000. MACD which illustrate bearish signal suggests the pair to extend its losses in mid-term, towards the direction of 1.2900.<\/p>\n

 <\/p>\n

Resistance level: 1.3000, 1.3120<\/p>\n

Support level: 1.2900, 1.2805<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance of 1.1245. MACD which illustrate diminished downward momentum suggests the pair to extend its gains after closing above 1.1245.<\/p>\n

 <\/p>\n

Resistance level: 1.1245, 1.1285<\/p>\n

Support level: 1.1215, 1.1180<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY remains traded within a sideways channel in between 111.75 and 112.20. 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

 <\/p>\n

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

Support level: 111.75, 111.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior close below 0.7150. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses, towards the direction of 0.7130.<\/p>\n

 <\/p>\n

Resistance level: 0.7150, 0.7165<\/p>\n

Support level: 0.7130, 0.7110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded flat in between 0.6695 and 0.6670. However, MACD which illustrate diminished upward momentum suggests the pair to extend its losses in short-term, towards the direction of 0.6670.<\/p>\n

 <\/p>\n

Resistance level: 0.6695, 0.6720<\/p>\n

Support level: 0.6670, 0.6630<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the top level of sideways channel. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.<\/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 closure above 1.0100. MACD which illustrate bullish bias suggests the pair to extend its gains in mid-term, towards the direction of 1.0190.<\/p>\n

 <\/p>\n

Resistance level: 1.0190, 1.0265<\/p>\n

Support level: 1.0100, 1.0055<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price remains traded within a sideways channel while currently testing at the top level. MACD which illustrate bullish signal suggests its prices to advance further up after closing above 64.65.<\/p>\n

 <\/p>\n

Resistance level: 64.65, 66.00<\/p>\n

Support level: 63.70, 63.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior rebound from the support of 1275.30. MACD which illustrate bullish signal suggests its prices to advance further up in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1284.15, 1295.65<\/p>\n

Support level: 1275.30, 1267.00<\/p>\n","protected":false},"excerpt":{"rendered":"

22 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 retraces while losses remains limited. US dollar inched lower during early Asian trading session as a number of markets around the globe reopens following Good Friday holiday last week. The dollar index was quoted down 0.10% to 97.07 this morning. Overall, the losses on the greenback […]<\/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\/55036"}],"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=55036"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/55036\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=55036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=55036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=55036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}