{"id":59642,"date":"2019-05-20T00:57:40","date_gmt":"2019-05-20T00:57:40","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=59642"},"modified":"2019-05-20T00:57:40","modified_gmt":"2019-05-20T00:57:40","slug":"200519-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200519-morning-session-analysis\/","title":{"rendered":"200519 Morning Session Analysis"},"content":{"rendered":"

20 May 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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US Consumer Confidence at 15-years high.<\/strong><\/span><\/p>\n

Greenback extended its gains on last Friday over the backdrop of bullish economic data from the region. According to University of Michigan, its Consumer Sentiment rose to 102.4, its highest level in more than 15 years while exceeding forecast of 97.8 for the month of May. Although the data rose due to growing consumer confidence upon US economy, much of it was being recorded well before trade war escalation earlier this month. As of writing, the dollar index ticked up 0.02% to 97.79 against a basket of six major peers. On the other hand, pair of AUD\/USD gapped up by 0.41% to 0.6896 due to surprising election results. Bullish traders in the market reacted positively towards the surprise re-election of Liberal Party\u2019s Scott Morrison despite ambitious policy agenda from the Labor Party. However, the final results have yet to roll out which will confirm whether the Liberals will form a majority party in the parliament or need to form a minority government with other parties to hold power.<\/p>\n

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On the other hand, crude oil price skyrocketed 1.02% to $63.38 per barrel. Oil futures received higher demand after Saudi Energy Minister said on Sunday that OPEC and its allied oil produces would like to drive down crude inventories \u201cgently\u201d while remain responsive towards the needs of the \u201cfragile\u201d oil market. On the other hand, gold price ticked down 0.03% to $1,277.64 a troy ounce due to weaker 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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Canada\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Victoria Day<\/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 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
14:00<\/td>\nEUR \u2013 German PPI (MoM) (Apr)<\/td>\n-0.1%<\/td>\n0.3%<\/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, Daily: <\/strong>Dollar index was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the index to extend further up, towards the direction of 97.95.<\/p>\n

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Resistance level: 97.95, 98.60<\/p>\n

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

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GBPUSD, Daily: <\/strong>GBPUSD extended its losses after closing below the support of 1.2790. MACD which illustrate bearish signal suggests the pair to advance further down after closing below 1.2700.<\/p>\n

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Resistance level: 1.2790, 1.2900<\/p>\n

Support level: 1.2700, 1.2630<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support of 1.1155. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

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Resistance level: 1.1200, 1.1220<\/p>\n

Support level: 1.1155, 1.1100<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher following prior closure above the resistance at 110.10. MACD which illustrate bullish signal suggest the pair to advance further up, towards the direction of 110.55.<\/p>\n

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Resistance level: 110.55, 111.00<\/p>\n

Support level: 110.10, 109.80<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing near the resistance of 0.6915. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the target at 0.6915.<\/p>\n

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Resistance level: 0.6915, 0.6955<\/p>\n

Support level: 0.6860, 0.6800<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the support near 0.6515. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term.<\/p>\n

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Resistance level: 0.6540, 0.6570<\/p>\n

Support level: 0.6515, 0.6450<\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the upward trendline. MACD which illustrate bearish signal suggests the pair to extend its losses after breaking the trendline.<\/p>\n

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Resistance level: 1.3490, 1.3530<\/p>\n

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

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USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the resistance at 1.0110. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the resistance near 1.0110.<\/p>\n

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Resistance level: 1.0110, 1.0155<\/p>\n

Support level: 1.0095, 1.0055<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance at 63.70. MACD which illustrate bullish signal suggests its prices to advance further up after closing above 63.70.<\/p>\n

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Resistance level: 63.70, 64.70<\/p>\n

Support level: 62.50, 61.00<\/p>\n

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GOLD_, H4: <\/strong>Gold price extended its losses after closing below the support near 1285.80. MACD which continues to illustrate bearish signal suggests its price to be traded lower in short-term, towards the direction of 1275.30.<\/p>\n

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Resistance level: 1285.80, 1295.65<\/p>\n

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

20 May 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     US Consumer Confidence at 15-years high. Greenback extended its gains on last Friday over the backdrop of bullish economic data from the region. According to University of Michigan, its Consumer Sentiment rose to 102.4, its highest level in more than 15 years while exceeding forecast of 97.8 […]<\/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\/59642"}],"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=59642"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/59642\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=59642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=59642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=59642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}