{"id":61972,"date":"2019-06-03T02:46:53","date_gmt":"2019-06-03T02:46:53","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=61972"},"modified":"2019-06-03T02:46:53","modified_gmt":"2019-06-03T02:46:53","slug":"030619-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030619-morning-session-analysis\/","title":{"rendered":"030619 Morning Session Analysis"},"content":{"rendered":"

03 June 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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Market remains pressured as global tension intensifies.<\/strong><\/p>\n

Dollar index which measuring against a basket of six major currency pairs have sinks 0.54% to $97.55 as of writing as market remains rattled by escalating trade tensions from the U.S. U.S President Donald Trump have recently surprised the market with a new round of fresh salvo which now aiming at Mexico. In his recent tweet, Donald Trump have stated that he will impose tariff on June 10 and the tariff will last and increase until illegal immigration is stopped. Besides that, market sentiment was also worsened by recent comments from Fed Vice President Richard Clarida discussing the possibility of rate cuts should the world\u2019s biggest economy take a turn for the worse. As geopolitical tension escalates further, investors have turned off their risk sentiment and increasing their bets on safe-haven asset such as Yen and Swiss Franc. At the time of writing, USDJPY extend its downfall and fell 0.04% to 109.15.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price also plummeted by 0.90% by $52.86 per barrel at the time of writing following fresh trade worries. As U.S Donald Trump threatening tariff on Mexico, the threat could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and also raising concerns about potential retaliation by the world’s biggest buyer of U.S. energy products following Mexico is one of U.S. key trade partner and major supplier of crude oil. Lastly, gold price skyrocketed 0.27% to $1309.07 a troy ounce as of writing following prior demand for safe-haven asset boosted by intensifying trade fears.<\/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

N\/A<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

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\u00a0<\/u><\/strong><\/p>\n

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

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior breakout below previous support level at 97.60. MACD which display bearish momentum with the formation of death cross suggest the index to extend its losses towards its support level 97.35.<\/p>\n

 <\/p>\n

Resistance level: 97.60, 97.95<\/p>\n

Support level: 97.35, 97.00<\/p>\n

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GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior breakout above previous resistance level at 1.2615. MACD which display bullish signal suggest the pair to extend its gains towards the resistance level 1.2690.<\/p>\n

 <\/p>\n

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

Support level: 1.2615, 1.2555<\/p>\n

 <\/p>\n

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EURUSD, H4: <\/strong>EURUSD was traded higher while currently testing near the resistance level 1.1180. MACD which illustrate bullish momentum and the formation of golden cross suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

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

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

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USDJPY, H4: <\/strong>USDJPY was traded lower following prior breakout below previous support level at 108.45. MACD which illustrate bearish momentum suggest the pair to extend its losses towards the support level 107.80.<\/p>\n

 <\/p>\n

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

Support level: 107.80, 107.15<\/p>\n

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\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior breakout previous resistance level 0.6930. MACD which display bullish momentum suggest the pair to extend its gains towards the resistance level 0.6970.<\/p>\n

 <\/p>\n

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

Support level: 0.6930, 0.6895<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher while currently testing the resistance level 0.6540. MACD which illustrate bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6540, 0.6580<\/p>\n

Support level: 0.6500, 0.6470<\/p>\n

 <\/p>\n

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USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing near the 20-MA line (green). MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses after successfully closing below the 20-MA line.<\/p>\n

 <\/p>\n

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

Support level: 1.3490, 1.3435<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing near the support level 0.9980. MACD which illustrate bearish momentum suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.0020, 1.0070<\/p>\n

Support level: 0.9980, 0.9945<\/p>\n

 <\/p>\n

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CrudeOIL, H4: <\/strong>Crude oil price was traded lower after breaking below previous support level at 53.40. MACD which display ongoing bearish momentum suggest the commodity to extend its losses towards the support level 52.05.<\/p>\n

 <\/p>\n

Resistance level: 53.40, 55.05<\/p>\n

Support level: 52.05, 50.55<\/p>\n

 <\/p>\n

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GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above previous resistance level at 1302.50. MACD which illustrate bullish momentum suggest the commodity to extend its gains towards the resistance level 1311.40.<\/p>\n

 <\/p>\n

Resistance level: 1311.40, 1318.80<\/p>\n

Support level: 1295.50, 1287.85<\/p>\n","protected":false},"excerpt":{"rendered":"

03 June 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   Market remains pressured as global tension intensifies. Dollar index which measuring against a basket of six major currency pairs have sinks 0.54% to $97.55 as of writing as market remains rattled by escalating trade tensions from the U.S. U.S President Donald Trump have recently surprised the market with […]<\/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\/61972"}],"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=61972"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/61972\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=61972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=61972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=61972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}