{"id":76896,"date":"2019-09-03T04:07:08","date_gmt":"2019-09-03T04:07:08","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=76896"},"modified":"2019-09-03T04:07:08","modified_gmt":"2019-09-03T04:07:08","slug":"030919-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/030919-morning-session-analysis\/","title":{"rendered":"030919 Morning Session Analysis"},"content":{"rendered":"

3 September 2019\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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

 <\/p>\n

Pound tumbled amid Brexit dispute, dollar strengthen.<\/strong><\/span><\/p>\n

Dollar index extended its gains against its major currency\u2019s peers despite escalation of trade dispute between US and China continues to haunt the FX market. Based on the recent news, China and US is bound to set a September meeting for trade talk after Washington rejected to delay the implementation of additional tariff on 1st <\/sup>September. On China side, Beijing has lodged a complaint against US regarding to recent successive tariff\u2019s imposition on China imported goods to US. The legal case does not reveal too much of details from China, while the latest tariff actions has violated the consensus between US and China during G20 Osaka meeting. As of writing, dollar index quoted up 0.16% to 98.95. On the other side, the pair of GBP\/USD inched down 0.02% to 1.2065 ahead the battle of parliament between Boris Johnson and the opposition parties. At the moment, opposition parties have formed an alliance and planning to seize control of the House of Common\u2019s agenda in order to stop a no deal Brexit while 21 member of conservative party itself also poised a vote to show their supportiveness against the government. However, Boris Johnson is still remain its \u2018style\u2019 and insists to withdraw UK from Eurozone before the deadline on 31th<\/sup> October and no extension will be asked.<\/p>\n

 <\/p>\n

As for commodities, oil price rose 0.05% to $54.70 per barrel amid hurricane Dorian gradually invaded the U.S East Coast this week. The approach of unexpected strong hurricane increased the fear of market as it is expected to affect the supply of crude oil in US if it passes into Gulf of Mexico. Besides, gold price fall 0.18% to $1526.15 a troy ounce as heightening of market risk sentiment diminished the appealing of gold.<\/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

12:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 AUD\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 RBA Rate Statement<\/p>\n

05:00 (4th<\/sup>)\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\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 FOMC Member Rosengren Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
12:30<\/td>\nAUD – RBA Interest Rate Decision (Sep)<\/td>\n1.00%<\/td>\n1.00%<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Construction PMI (Aug)<\/td>\n45.3<\/td>\n45.9<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 ISM Manufacturing PMI (Aug)<\/td>\n51.2<\/td>\n51.1<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded higher following prior breakout above the previous resistance level at 98.95. MACD which illustrate bullish bias momentum suggest dollar to extend its gains toward the next resistance level at 99.40.<\/p>\n

 <\/p>\n

Resistance level: 99.40, 99.70<\/p>\n

Support level: 98.95, 98.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level at 1.2085. MACD which illustrate bearish bias momentum suggest the pair to extend its losses toward the support level at 1.2015.<\/p>\n

 <\/p>\n

Resistance level: 1.2085, 1.2125<\/p>\n

Support level: 1.2015, 1.1980<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded lower following prior retracement from the 20 moving average line (Red). MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses towards the support level at 1.0930.<\/p>\n

 <\/p>\n

Resistance level: 1.0985, 1.1030<\/p>\n

Support level: 1.0930, 1.0865<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded higher while currently testing the resistance level at 106.20. MACD which illustrate bullish bias momentum suggest the pair to extend its gains after successfully breakout above the resistance level at 106.20.<\/p>\n

 <\/p>\n

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

Support level: 106.20, 105.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement from the resistance level at 0.6750. MACD which illustrate bearish momentum and the formation of death cross 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 following prior breakout below the previous support level at 0.6330. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses toward the support level at 0.6270.<\/p>\n

 <\/p>\n

Resistance level: 0.6330, 0.6395<\/p>\n

Support level: 0.6270, 0.6200<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.3335. MACD which illustrate bullish bias momentum suggest the pair to extend its gains after successfully breakout above 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 trade higher following prior breakout above the previous resistance level at 0.9890. However, MACD which illustrate bearish momentum suggest the pair to undergo short term technical correction toward the support level at 0.9890.<\/p>\n

 <\/p>\n

Resistance level: 0.9945, 1.0005<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level at 54.65. However, MACD which illustrate diminishing bearish momentum suggest the commodity to be traded higher in short term toward the resistance level at 55.90.<\/p>\n

 <\/p>\n

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

Support level: 54.75, 53.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing the 50 moving average line (Blue). MACD which display diminishing bearish momentum suggest the commodity to undergo short term technical correction toward the resistance level at 1526.90.<\/p>\n

 <\/p>\n

Resistance level: 1526.90, 1548.05<\/p>\n

Support level: 1507.10, 1490.00<\/p>\n","protected":false},"excerpt":{"rendered":"

3 September 2019\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 Morning Session Analysis     Pound tumbled amid Brexit dispute, dollar strengthen. Dollar index extended its gains against its major currency\u2019s peers despite escalation of trade dispute between US and China continues to haunt the FX market. Based on the recent news, China and US is bound to set a September meeting […]<\/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\/76896"}],"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=76896"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/76896\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=76896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=76896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=76896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}