{"id":61289,"date":"2019-05-29T02:30:00","date_gmt":"2019-05-29T02:30:00","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=61289"},"modified":"2019-05-29T02:30:00","modified_gmt":"2019-05-29T02:30:00","slug":"290519-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290519-morning-session-analysis\/","title":{"rendered":"290519 Morning Session Analysis"},"content":{"rendered":"

29 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

 <\/p>\n

Greenback skyrocketed following upbeat data.<\/strong><\/p>\n

Dollar index which gauge its value against a basket of six major currencies continues to glow while edging higher by 0.03% to 97.80 following upbeat consumer confidence yesterday. According to Conference Board, US Consumer Confidence Index for May has further risen following an increase in April. The index now stands at 134.1, exceeding the economist forecast of 130.1 while showing that consumers are in greater optimism about the short term economic outlook and job opportunities in May. On the other hand, the pair of NZD\/USD rose 0.15% to 0.6550 as RBNZ Governor Adrian Orr commented that they are \u201copen-minded\u201d about the commercial bank capital requirement ratio where it will be adjusted if they notice sufficient reason to change the parameter. Besides, Adrian Orr reiterated that upward adjustment will be executed if they detected the sign of major shock is close at hand.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price quoted down 0.59% to $58.66 per barrel amid Nigeria\u2019s government recent approval of a new crude oil export terminal in Niger Delta. Before this, Nigeria has announced that they are dusting off an ambitious plan to double its oil production by 2025 and resulted further deterioration in crude oil market sentiment. Besides, gold price quoted up 0.08% to $1280.45 a troy ounce amid markets shied away from riskier asset.<\/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

N\/A<\/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

16:00\u00a0\u00a0\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\u00a0 ECB Financial Stability Review<\/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

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 <\/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
15:55<\/td>\nEUR \u2013 German Unemployment Change<\/td>\n-12k<\/td>\n-8k<\/td>\n–<\/td>\n<\/tr>\n
15:55<\/td>\nEUR \u2013 German Unemployment Rate<\/td>\n4.9%<\/td>\n4.9%<\/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
05:30<\/p>\n

(30th<\/sup>)<\/td>\n

CrudeOIL \u2013 API Weekly Crude Oil Stock<\/td>\n2.400M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher after breaking above previous resistance level at 97.60. However, MACD which illustrate diminishing bullish momentum suggest index to undergo short-term technical correction and retrace back towards the support level 97.60.<\/p>\n

 <\/p>\n

Resistance level: 97.95, 98.25<\/p>\n

Support level: 97.60, 97.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level 1.2690. MACD which display bearish momentum with the formation of death cross suggest the pair to extend its losses towards the support level 1.2615.<\/p>\n

 <\/p>\n

Resistance level: 1.2690, 1.2785<\/p>\n

Support level: 1.2615, 1.2515<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior breakout below previous support level at 1.1180. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the support level 1.1120.<\/p>\n

 <\/p>\n

Resistance level: 1.1180, 1.1240<\/p>\n

Support level: 1.1120, 1.1010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the support level at 109.15. However, due to lack of signal and momentum from the MACD, a breakout above resistance level 109.75 or below support level 109.15 is required for further confirmation before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 109.70, 110.20<\/p>\n

Support level: 109.15, 108.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded flat above the support level 0.6915. MACD which display diminished bullish momentum suggest the pair to be traded lower after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6970, 0.7030<\/p>\n

Support level: 0.6915, 0.6860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level 0.6540. MACD which illustrate bearish bias signal suggest the pair to be traded lower after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6580, 0.6635<\/p>\n

Support level: 0.6540, 0.6510<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the top-level of its sideway channel. MACD which illustrate bullish momentum suggest the pair to extend its gains after successfully closing above the top-level of the channel.<\/p>\n

 <\/p>\n

Resistance level: 1.3530, 1.3575<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below previous support level at 1.0070. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses towards the support level 1.0020.<\/p>\n

 <\/p>\n

Resistance level: 1.0070, 1.0130<\/p>\n

Support level: 1.0020, 0.9980<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing near the support level 58.45. MACD which illustrate diminishing bullish momentum suggest the commodity to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 60.20, 61.80<\/p>\n

Support level: 58.45, 56.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing near the support level 1278.90. MACD which display bearish bias signal suggest gold to extend its losses after breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1287.85, 1295.65<\/p>\n

Support level: 1278.90, 1272.25<\/p>\n","protected":false},"excerpt":{"rendered":"

29 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   Greenback skyrocketed following upbeat data. Dollar index which gauge its value against a basket of six major currencies continues to glow while edging higher by 0.03% to 97.80 following upbeat consumer confidence yesterday. According to Conference Board, US Consumer Confidence Index for May has further risen following an […]<\/p>\n","protected":false},"author":20,"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\/61289"}],"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\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=61289"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/61289\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=61289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=61289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=61289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}