{"id":65406,"date":"2019-06-26T07:06:00","date_gmt":"2019-06-26T07:06:00","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=65406"},"modified":"2019-06-26T07:06:00","modified_gmt":"2019-06-26T07:06:00","slug":"260619-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260619-morning-session-analysis\/","title":{"rendered":"260619 Morning Session Analysis"},"content":{"rendered":"

26 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

Dollar saved by Powell comments.\u00a0 <\/strong><\/p>\n

Dollar index measuring against a basket of six major currency pairs was traded higher by 0.08% to 95.68 during early Asian trading session following Fed Chairman Jerome Powell speech at the Council on Foreign Relations. On Tuesday, dollar received further pressure from its downbeat CB Consumer Confidence data which slump to 121.5, missing its forecasted value of 131.1 while their New Home Sales falling to 626K, missing economists\u2019 forecast of 680K. However, the downward pressure was lifted during Powell\u2019s speech where he commented on Fed\u2019s monetary policy outlook as well as replying the recent critic from US President Donald Trump regarding their interest rate. Powell stressed that the Fed will still remain as an independent entity from the government and warned that Fed had seen damage which arises in the long-run when policy changes are made for short-term political interests. Relating to their monetary policy review, Powell stated that they will continue to monitor upcoming economic outlook performance and will act accordingly to sustain the economy. In other news, reports from Bloomberg stated that the US is willing to delay the next round of tariffs on additional $300 billion Chinese goods while they are set to meet and resume trade negotiations during the G20 summit in Japan this week. Although it is still under consideration, the confirmation would most likely be announced after the G20 summit. The diminishing market risk had increase investors\u2019 risk appetite, causing them to enter into dollar market as they sell safe-haven assets. As of writing, pair of USD\/JPY was up by 0.18% to 107.35.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price ticked up by 0.03% to $58.74 per barrel following a major slump in its inventories. According to the American Petroleum Institute, oil stock fell by 7.550M, recording a fall in stockpile for two consecutive weeks. On the other hand, gold price plunged by 0.58% to $1,414.93 a troy ounce amid heightened market risk appetite.<\/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

17:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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 BoE Gov Carney Speaks
\n17:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 GBP\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 Inflation Report Hearings<\/p>\n

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

Today\u2019s Highlight Economic Data<\/u><\/p>\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
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (May)<\/td>\n0.0%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-3.106M<\/td>\n-2.540M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the support level at 95.45. MACD which illustrate persistent bullish momentum suggest dollar to extend its gains towards the resistance level at 95.85.<\/p>\n

 <\/p>\n

Resistance level: 95.85, 96.15
\nSupport level: 95.45, 95.10<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2695. MACD which illustrate bearish momentum suggest the pair to extend its losses toward the next support level at 1.2610.<\/p>\n

 <\/p>\n

Resistance level: 1.2695, 1.2750
\nSupport level: 1.2610, 1.2555<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level 1.1355. MACD which display bearish momentum suggest the pair to extend its losses after successfully breaking below the support level at 1.1355.<\/p>\n

 <\/p>\n

Resistance level: 1.1395, 1.1435
\nSupport level: 1.1355, 1.1320<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the support level at 106.75. MACD which illustrate bullish bias signal suggest the pair to extend its gains toward the resistance level at 107.45.<\/p>\n

 <\/p>\n

Resistance level: 107.45, 107.85
\nSupport level: 106.65, 106.05<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6965. MACD which illustrate bullish momentum suggest the pair to extend its gains after successfully breakout out above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6965, 0.6995
\nSupport level: 0.6935, 0.6910<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the previous support level at 0.6640. MACD which display bearish momentum with the formation of death cross suggest the pair to extend its losses toward the support level at 0.6600.<\/p>\n

 <\/p>\n

Resistance level: 0.6640, 0.6670
\nSupport level: 0.6600, 0.6570<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H1: <\/strong>USDCAD was traded flat within tight range while currently testing 50 moving average (Blue) line. MACD which illustrate bullish bias momentum suggest the pair to extend its gains after successfully breakout above the 50 moving average line.<\/p>\n

 <\/p>\n

Resistance level: 1.3220, 1.3255
\nSupport level: 1.3165, 1.3130<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher while currently testing the resistance level 0.9755. MACD which display bullish momentum suggest the pair to extend its gains after successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.9755, 0.9810
\nSupport level: 0.9705, 0.9645<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher while following prior breakout above the resistance level at 58.25. MACD which illustrate bullish signal suggest the commodity to extend its gains toward the next resistance level at 59.70.<\/p>\n

 <\/p>\n

Resistance level: 59.70, 60.50
\nSupport level: 58.25, 57.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold was traded lower while currently testing the support level at 1415.00. MACD which illustrate bearish momentum and the formation of death cross suggest the pair to extend its losses after successfully breakout below the support level at 1415.00.<\/p>\n

 <\/p>\n

Resistance level: 1440.00, 1458.40
\nSupport level: 1415.00, 1400.00<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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   Dollar saved by Powell comments.\u00a0 Dollar index measuring against a basket of six major currency pairs was traded higher by 0.08% to 95.68 during early Asian trading session following Fed Chairman Jerome Powell speech at the Council on Foreign Relations. On Tuesday, dollar received further pressure from its […]<\/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\/65406"}],"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=65406"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/65406\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=65406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=65406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=65406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}