{"id":64701,"date":"2019-06-19T00:35:25","date_gmt":"2019-06-19T00:35:25","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=64701"},"modified":"2019-06-19T00:35:25","modified_gmt":"2019-06-19T00:35:25","slug":"190619-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/190619-morning-session-analysis\/","title":{"rendered":"190619 Morning Session Analysis"},"content":{"rendered":"

19 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

Trump criticizes ECB\u2019s Draghi.<\/strong><\/span><\/p>\n

US dollar was traded flat against other major currencies on yesterday following mixed signals in the market. On Tuesday, US President Donald Trump criticized ECB President Mario Draghi whom had hinted for more stimulus and rate cuts if the economy in Eurozone does not improve. Trump stated that such measures would lead the greenback to an uncompetitive position as euro depreciates further. Prior, Trump has been urging US Federal Reserve to cut their interest rates which has risen from 0% to 2.50% for the past three years. For the time being, Fed two-day meeting conclusion will be the main highlight for the week as investors ponder upon the central bank\u2019s forward guidance with regards to monetary policy. In terms of economy, latest report on Building Permits shows increased by only 1.294 million, lower than economist forecast of 1.296 million for the month of May. Building Permits begins to show stagnation for the past few months which may indicate possible depreciation in demand for property. As of writing, the dollar index was traded flat at around 97.10 against a basket of six major currencies.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price depreciates by 0.11% to $54.01 per barrel. On yesterday, oil prices rebound from its prior low level after US President Donald Trump announced that he will resume trade talks with Chinese leader Xi Jinping during next week\u2019s G-20 summit. On the other hand, gold price was traded flat at around $1,346.55 a troy ounce as market participants waits for further signal in the market.<\/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

22:00\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 ECB President Draghi Speaks<\/p>\n

02:00 (20th<\/sup>)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Economic Projections<\/p>\n

02:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FOMC Statement<\/p>\n

02:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Press Conference<\/p>\n

 <\/p>\n


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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 CPI (YoY) (May)<\/td>\n2.1%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core CPI (MoM) (May)<\/td>\n0.0%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n2.206M<\/td>\n-1.077M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(20th<\/sup>)<\/td>\n

USD \u2013 Fed Interest Rate Decision<\/td>\n2.50%<\/td>\n2.50%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index remains traded within a sideways formation. MACD which begins to form a bearish signal suggests the index to extend its losses after closing below 97.05.<\/p>\n

 <\/p>\n

Resistance level: 97.20, 97.50<\/p>\n

Support level: 97.05, 96.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support of 1.2515. MACD which begins to form a bullish signal 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

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which begins to form a bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1210, 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 rebound from the lower levels. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term, towards the direction of 108.70.<\/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, H1: <\/strong>AUDUSD was traded higher while currently testing near the resistance of 0.6880. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above 0.6880.<\/p>\n

 <\/p>\n

Resistance level: 0.6880, 0.6900<\/p>\n

Support level: 0.6850, 0.6830<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support of 0.6485. MACD which has formed a bullish signal suggests the pair to extend its gains in short-term, towards the direction of 0.6555.<\/p>\n

 <\/p>\n

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

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

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded lower following prior close below 1.3375. MACD which illustrate bearish signal suggests the pair to advance further down, towards the direction of 1.3340.<\/p>\n

 <\/p>\n

Resistance level: 1.3375, 1.3395<\/p>\n

Support level: 1.3340, 1.3315<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior close above 1.0000. MACD which illustrate the formation of bullish signal suggests the pair to extend its gains in mid-term, towards the direction of 1.0040.<\/p>\n

 <\/p>\n

Resistance level: 1.0040, 1.0130<\/p>\n

Support level: 1.0000, 0.9975<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 54.45, 57.30<\/p>\n

Support level: 53.00, 51.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior retrace from its higher levels. MACD which begins to form a bearish signal suggests its price to advance lower after closing below 1345.00.<\/p>\n

 <\/p>\n

Resistance level: 1350.00, 1355.00<\/p>\n

Support level: 1345.00, 1338.00<\/p>\n","protected":false},"excerpt":{"rendered":"

19 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   Trump criticizes ECB\u2019s Draghi. US dollar was traded flat against other major currencies on yesterday following mixed signals in the market. On Tuesday, US President Donald Trump criticized ECB President Mario Draghi whom had hinted for more stimulus and rate cuts if the economy in Eurozone does not […]<\/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\/64701"}],"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=64701"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/64701\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=64701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=64701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=64701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}