{"id":76239,"date":"2019-08-29T02:23:56","date_gmt":"2019-08-29T02:23:56","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=76239"},"modified":"2019-08-29T02:23:56","modified_gmt":"2019-08-29T02:23:56","slug":"290819-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290819-morning-session-analysis\/","title":{"rendered":"290819 Morning Session Analysis"},"content":{"rendered":"

29 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

Dollar \u2018stunned\u2019 ahead of GDP data.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies hovered around 98.15 while investors keep an eye on today\u2019s significant economic data GDP. Earlier today, San Francisco Fed President Mary Daly commented that she is now still remain in a \u2018wait and see\u2019 mode as the current US economy is well positioned and growing slightly above trend. However, uncertainties and risk of recessions are still lingering around the global economy development, urging the Fed to further their rate cut in short term. Daly also reiterated that they will observe more economic data to determine their next policy move in September Federal Reserve rate meeting. As of writing, dollar index quoted down 0.04% to 98.17. On the other hand, the pair of GBP\/USD rose 0.06% to 1.2215 after hitting one week low level amid PM Johnson\u2019s suspension plan caused dissatisfaction. Yesterday, plan of delaying parliament closing period which proposed by Boris Johnson has been approved by the Queen, prompting political jitters in Britain. The intention behind the move by Boris\u2019s government was to restrict Member of Parliament in UK from blocking and protesting against a no deal Brexit.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price depreciates by 0.32% to $55.70 per barrel despite EIA crude oil inventories data showed an optimistic reading where came in at -10.027M versus -2.112M. Sentiment of oil market is still remain sour as market concern over negative effect of deepening trade war between US and China. Besides, gold price inched up 0.02% to $1540.65 a troy ounce amid dollar\u2019s weaken.<\/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

N\/A<\/p>\n

 <\/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
15:55<\/td>\nEUR – German Unemployment Change (Aug)<\/td>\n1K<\/td>\n4K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q2)<\/td>\n2.1%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n209K<\/td>\n215K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – Pending Home Sales (MoM) (Jul)<\/td>\n2.8%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 98.00. MACD which illustrate bullish bias momentum suggest dollar to extend its gains toward the resistance level at 98.40.<\/p>\n

 <\/p>\n

Resistance level: 98.40, 98.65<\/p>\n

Support level: 98.00, 97.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing the 50 moving average line (Blue). MACD which illustrate bearish bias momentum suggest the pair to extend its losses after successfully breakout below the 50 moving average line (Blue).<\/p>\n

 <\/p>\n

Resistance level: 1.2220, 1.2255<\/p>\n

Support level: 1.2170, 1.2085<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the support level at 1.1070. MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains towards the resistance level at 1.1115.<\/p>\n

 <\/p>\n

Resistance level: 1.1115, 1.1155<\/p>\n

Support level: 1.1070, 1.1030<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H1: <\/strong>USDJPY was traded lower while currently testing the 50 moving average line (Blue). MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses after successfully breakout below the 50 moving average line (Blue).<\/p>\n

 <\/p>\n

Resistance level: 106.20, 106.65<\/p>\n

Support level: 105.60, 105.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior breakout below the previous support level at 0.6750. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 0.6695.<\/p>\n

 <\/p>\n

Resistance level: 0.6750, 0.6795<\/p>\n

Support level: 0.6695, 0.6635<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6330. MACD which illustrate bearish bias momentum suggest the pair to extend its losses after its candle successfully close below the support level at 0.6330.<\/p>\n

 <\/p>\n

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

Support level: 0.6330, 0.6270<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior breakout above the 20 and 50 moving average line. MACD which illustrate bullish bias momentum suggest the pair to extend its gains toward the resistance level at 1.3335.<\/p>\n

 <\/p>\n

Resistance level: 1.3335, 1.3385<\/p>\n

Support level: 1.3275, 1.3220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the higher level. MACD which illustrate diminishing bullish momentum suggest the pair to extend its retracement toward the support level at 0.9775.<\/p>\n

 <\/p>\n

Resistance level: 0.9840, 0.9890<\/p>\n

Support level: 0.9775, 0.9730<\/p>\n

\"\"<\/p>\n

 <\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher while currently testing the resistance level at 55.90. MACD which display bullish momentum and the formation of golden cross suggest the commodity to extend its gains after successfully breakout above the resistance level at 55.90.<\/p>\n

 <\/p>\n

Resistance level: 55.90, 56.80<\/p>\n

Support level: 54.65, 53.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement near the resistance level at 1548.05. MACD which display bearish momentum suggest the commodity to extend its retracement toward the support level at 1526.90.<\/p>\n

 <\/p>\n

Resistance level: 1548.05, 1565.50<\/p>\n

Support level: 1526.90, 1507.10<\/p>\n

 <\/p>\n

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

29 August 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis     Dollar \u2018stunned\u2019 ahead of GDP data. Dollar index which gauge its value against a basket of six major currencies hovered around 98.15 while investors keep an eye on today\u2019s significant economic data GDP. Earlier today, San Francisco Fed President Mary Daly commented that she is now still […]<\/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\/76239"}],"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=76239"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/76239\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=76239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=76239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=76239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}