{"id":73404,"date":"2019-08-13T02:14:39","date_gmt":"2019-08-13T02:14:39","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=73404"},"modified":"2019-08-13T02:14:39","modified_gmt":"2019-08-13T02:14:39","slug":"130819-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/130819-morning-session-analysis\/","title":{"rendered":"130819 Morning Session Analysis"},"content":{"rendered":"

13 August 2019\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

 <\/p>\n

Forex market stumbled ahead series of economic data.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies dipped while market are await for more economic data such as tonight Core CPI to further determine the monetary policy stance of Federal Reserve as it act as a crucial indicator of US current inflationary status. Prior to that, greenback shininess faded amid heightening of investor expectation that a prolonged trade dispute between US and China would cumbrance the economic growth of US, urging investors to leave dollar market and flee into other riskier currencies market such as pound and euro. During early Asian trading session, dollar index quoted down 0.11% to $97.20. On the other hand, the pair of GBP\/USD ticked down 0.03% to $1.2070 amid rising possibility no deal Brexit. As of now, Boris Johnson is preparing for a parliamentary battle against MPs who trying to avoid no deal Brexit as recent report revealed that opponent party\u2019s leader, Jeremy Cobryn may bring confidence motion against Boris Johnson as early as September. Besides, investors are also eye on economic data such as Claimant Count Change from its region in order to gauge the short term direction of pound.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.05% to $54.80 per barrel despite fears of global economic downturn and ongoing US\u2013China trade war. Now, investors are remain silent while waiting for OPEC Report as it signaled the outlook for crude oil market development. On the other hand, gold price surged by 0.30% to $1515.50 a troy ounce amid weakening dollar.<\/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

19:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CrudeOIL\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 OPEC Monthly Report<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\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
14:00<\/td>\nEUR \u2013 German CPI (Mom) (Jul)<\/td>\n0.5%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Average Earnings Index +Bonus (Jun)<\/td>\n3.4%<\/td>\n3.7%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Claimant Count Change (Jul)<\/td>\n38.0K<\/td>\n32.0K<\/td>\n–<\/td>\n<\/tr>\n
17:00<\/td>\nEUR \u2013 German ZEW Economic Sentiment (Aug)<\/td>\n-24.5<\/td>\n-27.8<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core CPI (MoM) (Jul)<\/td>\n0.3%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
04:30<\/p>\n

(14th<\/sup>)<\/td>\n

CrudeOIL – API Weekly Crude Oil Stock<\/td>\n-3.400M<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index remained traded in a sideway channel after retracing from its top-levels. MACD which illustrate bearish bias signal suggest index to extend its retracement towards the support level 97.00.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98.20
\nSupport level: 97.00, 96.35<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher following prior rebound from the support level 1.2000. MACD which illustrate bullish momentum with the formation of \u2018positive divergence\u2019 suggest the pair to extend its gains towards the resistance level 1.2125.<\/p>\n

 <\/p>\n

Resistance level: 1.2125, 1.2220
\nSupport level: 1.2000, 1.1880<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD remained traded in a sideway channel while currently testing near its 20-MA line (green). MACD which display bearish bias signal suggest the pair to extend its losses towards the support level 1.1185 after successfully closing below its 20-MA line.<\/p>\n

 <\/p>\n

Resistance level: 1.1240, 1.1285<\/p>\n

Support level: 1.1185, 1.1155<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded higher while currently testing near the resistance level 105.45. MACD which display bullish momentum suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 105.45, 106.05
\nSupport level: 105.00, 104.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level 0.6760. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to extend its losses towards the support level 0.6720.<\/p>\n

 <\/p>\n

Resistance level: 0.6760, 0.6790
\nSupport level: 0.6720, 0.6675<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing near the support level 0.6430. MACD which illustrate diminished bullish momentum suggest the pair to extend its losses after successfully breaking below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6490, 0.6555
\nSupport level: 0.6435, 0.6395<\/p>\n

 <\/p>\n

 <\/p>\n


\n<\/strong><\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.3240. MACD which display bullish bias signal with the starting formation of golden cross suggest the pair to extend its gains after successfully breaking above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3240, 1.3305
\nSupport level: 1.3160, 1.3090<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior breakout below previous support level 0.9705. MACD which illustrate bearish momentum with the formation of death cross suggest the pair to extend its losses towards the support level 0.9640.<\/p>\n

 <\/p>\n

Resistance level: 0.9755, 0.9790
\nSupport level: 0.9705, 0.9580<\/p>\n

 <\/p>\n

 <\/p>\n


\n<\/strong><\/p>\n

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

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior breakout above its 60-MA line (red). MACD which display ongoing bullish momentum suggest the commodity to extend its gains towards the resistance level 55.75.<\/p>\n

 <\/p>\n

Resistance level: 55.75, 57.95
\nSupport level: 54.00, 52.45<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher while currently testing the resistance level 1512.30. However, MACD which display diminishing bullish momentum suggest the commodity to undergo short-term technical correction and retrace towards the support level 1492.10.<\/p>\n

 <\/p>\n

Resistance level: 1512.30, 1528.60
\nSupport level: 1492.10, 1476.00<\/p>\n","protected":false},"excerpt":{"rendered":"

13 August 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis     Forex market stumbled ahead series of economic data. Dollar index which gauge its value against a basket of six major currencies dipped while market are await for more economic data such as tonight Core CPI to further determine the monetary policy stance of Federal Reserve as it […]<\/p>\n","protected":false},"author":54,"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\/73404"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=73404"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/73404\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=73404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=73404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=73404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}