{"id":63117,"date":"2019-06-10T00:51:35","date_gmt":"2019-06-10T00:51:35","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=63117"},"modified":"2019-06-10T00:51:35","modified_gmt":"2019-06-10T00:51:35","slug":"100619-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/100619-morning-session-analysis\/","title":{"rendered":"100619 Morning Session Analysis"},"content":{"rendered":"

10 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

 <\/p>\n

Greenback tumbles as NFP fumbles.<\/strong><\/span><\/p>\n

US dollar tumbled lower since last Friday following the release of bearish Nonfarm Payrolls report from the region. Traders rushed to short against the US dollar after Nonfarm Payrolls for the month of May came in at 75,000, missing economist forecast of 185,000. In addition, Average Hourly Earnings remains stagnant at 0.2%, missing forecast for a rise of up to 0.3%. Both reports have raised expectations upon Federal Reserve which may decrease US interest rates as job markets hits a peak. Likewise, ongoing trade tension in between US and China continues to support for such sentiment as well. Prior, Fed Chairman Jerome Powell indicated that they will \u201cact as appropriate to sustain economic expansion\u201d, signaling for a course of rate cut if overall economy tilt downwards. As of writing, the dollar index recorded a loss of 0.05% to 97.47. On the other hand, pair of USD\/JPY continues to oscillate within a tight range as market participants gauge risks that are present in the market such as trade war and unresolved Brexit conundrum. Pair of USD\/JPY was last seen at around 108.47.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price rose 1.07% to $54.56 per barrel. Oil price rebounds from a low level after Baker Hughes report shows that the total number of active oil rig dropped from 800 to 789 last week. Otherwise, gold price slumped 0.44% to $1,334.66 a troy ounce due to as market participants lock in their profits following last week\u2019s rise.<\/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 AUD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Queen\u2019s Birthday<\/p>\n

All Day\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 \u00a0Germany \u2013 Whit Monday<\/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

 <\/p>\n

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
16:30<\/td>\nGBP \u2013 Manufacturing Production (MoM) (Apr)<\/td>\n0.9%<\/td>\n-1.0%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 JOLTs Job Openings (Apr)<\/td>\n7.488M<\/td>\n7.240M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior retrace from the top level. MACD which illustrate bearish signal suggests the index to extend its losses, towards the upward trendline.<\/p>\n

 <\/p>\n

Resistance level: 97.05, 97.50<\/p>\n

Support level: 96.35, 95.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD remains traded within a sideways channel following prior retrace from the top. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.2745, 1.2790<\/p>\n

Support level: 1.2630, 1.2515<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retrace from the top level. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1335, 1.1380<\/p>\n

Support level: 1.1275, 1.1220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY remains traded within a sideways channel while currently testing at the top level. Although MACD has formed a bullish signal, a break above is required to attain further confirmation.<\/p>\n

 <\/p>\n

Resistance level: 108.50, 108.70<\/p>\n

Support level: 107.95, 107.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retrace from the resistance of 0.7005. MACD which illustrate diminishing upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.7005, 0.7030<\/p>\n

Support level: 0.6990, 0.6965<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing at the support of 0.6655. MACD which illustrate diminishing upward momentum suggests the pair to extend its losses after closing below the support level.<\/p>\n

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Resistance level: 0.6680, 0.6705<\/p>\n

Support level: 0.6655, 0.6615<\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebound from the lower level. MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3290, 1.3325<\/p>\n

Support level: 1.3220, 1.3175<\/p>\n

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\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower level. MACD which illustrate positive divergence signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9910, 0.9965<\/p>\n

Support level: 0.9830, 0.9790<\/p>\n

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\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing near the resistance of 54.45. MACD which illustrate bullish signal suggests its prices to extend its gains after closing above 54.45.<\/p>\n

 <\/p>\n

Resistance level: 54.45, 55.75<\/p>\n

Support level: 52.85, 51.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price was traded lower following prior retracement from the top level. MACD which illustrate diminishing upward momentum suggests its prices to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1340.00, 1355.00<\/p>\n

Support level: 1321.00, 1302.00<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

10 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   Greenback tumbles as NFP fumbles. US dollar tumbled lower since last Friday following the release of bearish Nonfarm Payrolls report from the region. Traders rushed to short against the US dollar after Nonfarm Payrolls for the month of May came in at 75,000, missing economist forecast of 185,000. […]<\/p>\n","protected":false},"author":25,"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\/63117"}],"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\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=63117"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/63117\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=63117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=63117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=63117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}