{"id":55489,"date":"2019-04-24T00:48:28","date_gmt":"2019-04-24T00:48:28","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=55489"},"modified":"2019-04-24T00:48:28","modified_gmt":"2019-04-24T00:48:28","slug":"240419-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/240419-morning-session-analysis\/","title":{"rendered":"240419 Morning Session Analysis"},"content":{"rendered":"

24 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

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Greenback rides as New Home Sales surged.<\/strong><\/span><\/p>\n

US dollar propelled further on yesterday following optimistic economic data which suggests a resilient housing market ahead. The dollar index was quoted up 0.31% to 97.19 during Asian trading session. According to US Commerce Department, New Home Sales for the month of March came in at 692,000 units, its highest level since November 2017. The data is well above economist forecast for a decline to 647,000 units. An increase in new home sales came amid exceedingly positive performance in the South and Midwest of US following deduction in mortgage interest that may have hastened up population migration from high-cost and high-tax states. Likewise, greenback\u2019s bullish momentum was also helped by a slump in both euro and pound sterling. On the other hand, pair of GBP\/USD extended its losses by 0.01% to 1.2936. Sterling received tremendous selling pressure on yesterday following little signs of a breakthrough in Brexit talks between British PM Theresa May and opposition leader Jeremy Corbyn.<\/p>\n

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As for commodities, crude oil price depreciates by 0.14% to $66.00 per barrel. Oil prices continues to hover around 6-months high while investors\u2019 digest the possibility of an increase output from OPEC and US oil sanctions against Iran. On the other hand, gold price tumbled down 0.06% to $1,271.67 a troy ounce following resilient 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

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Rate Statement<\/p>\n

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Monetary Policy Report<\/p>\n

23:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Press Conference<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\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
16:00<\/td>\nEUR \u2013 German Info Business Climate Index<\/td>\n99.6<\/td>\n99.9<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-1.396M<\/td>\n1.255M<\/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 near 97.30. MACD which illustrate diminishing upward momentum suggests the index to experience technical correction for short-term.<\/p>\n

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

Support level: 97.10, 97.00<\/p>\n

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GBPUSD, Daily: <\/strong>GBPUSD extended its losses following prior close below 1.3000. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 1.2900.<\/p>\n

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

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

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the 20-MA line (red).\u00a0 MACD which has formed a death cross signal suggests the pair to extend its losses, towards the direction of 1.1200.<\/p>\n

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Resistance level: 1.1245, 1.1280<\/p>\n

Support level: 1.1200, 1.1180<\/p>\n

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USDJPY, H4: <\/strong>USDJPY remains traded within a sideways channel in between 111.75 and 112.20. MACD which has formed a bearish signal suggests the pair to be traded lower in short-term, towards 111.75.<\/p>\n

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

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

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support at 0.7090. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term before extending its bearish bias.<\/p>\n

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

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

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NZDUSD, Daily: <\/strong>NZDUSD was traded lower following prior breakout from the resistance at 0.6670. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 0.6630.<\/p>\n

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Resistance level: 0.6670, 0.6695<\/p>\n

Support level: 0.6630, 0.6580<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing near the resistance at 1.3435. MACD which illustrate bullish signal suggests the pair to extend its gains after breaking the resistance at 1.3435.<\/p>\n

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Resistance level: 1.3435, 1.3485<\/p>\n

Support level: 1.3400, 1.3370<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from its higher levels. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

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Resistance level: 1.0265, 1.0310<\/p>\n

Support level: 1.0190, 1.0100<\/p>\n

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CrudeOIL, H1: <\/strong>Crude oil price remains traded within an ascending channel. However, MACD which has formed bearish signal suggests its prices to be traded lower in short-term, towards the direction of 64.65.<\/p>\n

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Resistance level: 66.00, 67.65<\/p>\n

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

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\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the 20-MA line (red). MACD which begins to form a death cross signal suggests its prices to be traded lower, towards the direction of 1267.00.<\/p>\n

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Resistance level: 1275.30, 1284.15<\/p>\n

Support level: 1267.00, 1253.25<\/p>\n","protected":false},"excerpt":{"rendered":"

24 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 rides as New Home Sales surged. US dollar propelled further on yesterday following optimistic economic data which suggests a resilient housing market ahead. The dollar index was quoted up 0.31% to 97.19 during Asian trading session. According to US Commerce Department, New Home Sales for the […]<\/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\/55489"}],"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=55489"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/55489\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=55489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=55489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=55489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}