{"id":64241,"date":"2019-06-17T00:48:08","date_gmt":"2019-06-17T00:48:08","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=64241"},"modified":"2019-06-17T00:48:08","modified_gmt":"2019-06-17T00:48:08","slug":"170619-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/170619-morning-session-analysis\/","title":{"rendered":"170619 Morning Session Analysis"},"content":{"rendered":"

17 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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The reality of rate cut.<\/strong><\/span><\/p>\n

US dollar was traded mixed last Friday due to mixed signals delivered by its economic data. According to US Census Bureau, Core Retail Sales for the month of May came in as expected with 0.5%, portraying a solid consumer spending although inflationary pressure eases slightly. However, University of Michigan published a separate report with regards to Consumer Sentiment shows continuous depreciation from its prior high levels. For the month of Jun, Consumer Sentiment depreciates from 100.0 to 97.9, signaling deteriorating expectation towards US future economic growth which may dampen consumer spending. Such signal has further cemented the course for at least two rate cuts from the Federal Reserve throughout the year of 2019. For the time being, investors will place their attention upon Fed monetary policy conclusion which will be delivered this coming Thursday. On the other hand, Australian dollar continues to hover near six-months low as ongoing trade dispute in between US and China deteriorates trader\u2019s confidence towards its economy. As of writing, the dollar index was down 0.07% to 96.96 while AUD\/USD appreciates slightly by 0.05% to 0.6875.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price rose 0.29% to $52.62 per barrel. Oil prices received some support after US Baker Hughes shows depreciation in rig counts from 789 to 788 that may reduce oil supply for short-term. Otherwise, gold price ticks up 0.02% to $1,341.92 a troy ounce due to weaker US dollar.<\/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

01:00 (18th<\/sup>) \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB President Draghi Speaks<\/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
20:30<\/td>\nUSD \u2013 NY Empire State Manufacturing Index (Jun)<\/td>\n17.80<\/td>\n12.10<\/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, H4: <\/strong>Dollar index was traded lower following prior retrace from the resistance of 97.05. MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

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

Support level: 96.35, 95.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.2630, 1.2745<\/p>\n

Support level: 1.2515, 1.2425<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

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

Support level: 1.1150, 1.1110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher following prior closure above 108.50. However, MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 108.70, 109.15<\/p>\n

Support level: 108.50, 108.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD remains traded within a descending channel formation. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 0.6850.<\/p>\n

 <\/p>\n

Resistance level: 0.7020, 0.7210<\/p>\n

Support level: 0.6850, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support level of 0.6485. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6555, 0.6600<\/p>\n

Support level: 0.6485, 0.6450<\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing at the resistance of 1.3420. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3420, 1.3445<\/p>\n

Support level: 1.3375, 1.3340<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing near the downward trendline. MACD which illustrate bullish signal suggests the pair to advance further up after breaking the trendline.<\/p>\n

 <\/p>\n

Resistance level: 1.0000, 1.0040<\/p>\n

Support level: 0.9975, 0.9945<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while currently testing at the resistance of 53.00. MACD which illustrate bullish signal suggests its price to extend further up after closing above 53.00.<\/p>\n

 <\/p>\n

Resistance level: 53.00, 54.45<\/p>\n

Support level: 51.60, 50.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retrace from its higher level. MACD which illustrate bearish signal 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":"

17 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   The reality of rate cut. US dollar was traded mixed last Friday due to mixed signals delivered by its economic data. According to US Census Bureau, Core Retail Sales for the month of May came in as expected with 0.5%, portraying a solid consumer spending although inflationary pressure […]<\/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\/64241"}],"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=64241"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/64241\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=64241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=64241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=64241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}