{"id":61069,"date":"2019-05-28T02:32:42","date_gmt":"2019-05-28T02:32:42","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=61069"},"modified":"2019-05-28T02:32:42","modified_gmt":"2019-05-28T02:32:42","slug":"280519-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280519-morning-session-analysis\/","title":{"rendered":"280519 Morning Session Analysis"},"content":{"rendered":"

28 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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Dollar higher during holiday, euro holds ground.<\/strong><\/span><\/p>\n

Dollar index measuring against a basket of six major currency pairs was traded higher by 0.14% to 97.56 as US stock market was closed prior to their Memorial Day. Dollar was recently pressured by poor housing data last week, causing the index to retrace from its 2-year high while investors await further economic data such as today\u2019s CB Consumer Confidence to gauge the market. A further set of weak data may fuel uncertainties in the market that the Federal Reserve may consider to cut rate before the year end. In other news, the pair of EUR\/USD inched lower by 0.03% to 1.1191, holding steadily after the results of EU elections showed pro-EU parties successfully holding on to two-thirds of the seats, eliminating fears of EU-skeptic takeover in the Eurozone. Besides that, EU trade ministers will meet in Brussels to discuss ways to avoid their automobile being tariffed by the US which would further dampen the euro sentiment.<\/p>\n

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As for commodities market, crude oil price ticked higher by 0.03% to $59.03 per barrel. Escalating tensions between US and Iran following Friday\u2019s announcement from Washington stating that they are planning to deploy more troops to the Middle East had heightened prospect of supply disruptions, causing investors to buy oil. Besides, gold price fell by 0.11% to $1283.50 a troy ounce amid stronger 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 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
13:45<\/td>\nCHF \u2013 GDP (QoQ) (Q1)<\/td>\n0.2%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (May)<\/td>\n129.2<\/td>\n130.1<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher while currently testing the resistance level of 97.60. MACD which illustrate bullish signal suggests the index to extend its gains after closing above 97.60.<\/p>\n

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Resistance level: 97.60, 98.00<\/p>\n

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

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GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2695. MACD which illustrate diminishing bullish momentum suggests the pair to be extend its losses toward the support level at 1.2630.<\/p>\n

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Resistance level: 1.2695, 1.2745<\/p>\n

Support level: 1.2630, 1.2555<\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the higher level. MACD which illustrate diminishing bullish momentum and death cross suggests the pair to extend its losses toward the support level at 1.1170.<\/p>\n

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Resistance level: 1.1210, 1.1245<\/p>\n

Support level: 1.1170, 1.1125<\/p>\n

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USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 109.55. MACD which illustrate bullish signal suggests the pair to extend its gains after successfully breakout above the resistance of 109.55.<\/p>\n

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Resistance level: 109.55, 110.05<\/p>\n

Support level: 109.25, 108.80<\/p>\n

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AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support level at 0.6915. However, MACD which illustrate diminishing bullish momentum suggests the pair to undergo short term technical correction toward the support level at 0.6915.<\/p>\n

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Resistance level: 0.6960, 0.6995<\/p>\n

Support level: 0.6915, 0.6865<\/p>\n

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NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6545. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains toward the resistance level at 0.6585.<\/p>\n

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Resistance level: 0.6585, 0.6630<\/p>\n

Support level: 0.6545, 0.6505<\/p>\n

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\nUSDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance of 1.3450. MACD which illustrate bearish bias momentum suggest the pair to extend its retracement toward the support level at 1.3415.<\/p>\n

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Resistance level: 1.3450, 1.3475<\/p>\n

Support level: 1.3415, 1.3390<\/p>\n

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USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 1.0050. However, MACD which illustrate bullish signal suggests the pair to be trade higher in short term toward the resistance level at 1.0050.<\/p>\n

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Resistance level: 1.0050, 1.0100<\/p>\n

Support level: 1.0005, 0.9965<\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing the 20 Moving average line (Red). MACD which illustrate bullish signal suggest the pair to extend its gains after successfully breakout the 20 Moving average line (Red).<\/p>\n

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Resistance level: 59.70, 60.50<\/p>\n

Support level: 58.25, 57.05<\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1288.50. MACD which illustrate diminishing bullish momentum suggest its prices to extend its losses toward the support level at 1278.45.<\/p>\n

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Resistance level: 1288.50, 1294.05<\/p>\n

Support level: 1278.45, 1272.45<\/p>\n","protected":false},"excerpt":{"rendered":"

28 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     Dollar higher during holiday, euro holds ground. Dollar index measuring against a basket of six major currency pairs was traded higher by 0.14% to 97.56 as US stock market was closed prior to their Memorial Day. Dollar was recently pressured by poor housing data last week, causing […]<\/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\/61069"}],"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=61069"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/61069\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=61069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=61069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=61069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}