{"id":79704,"date":"2019-09-24T02:26:29","date_gmt":"2019-09-24T02:26:29","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=79704"},"modified":"2019-09-24T02:26:29","modified_gmt":"2019-09-24T02:26:29","slug":"240919-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/240919-morning-session-analysis\/","title":{"rendered":"240919 Morning Session Analysis"},"content":{"rendered":"

24 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 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Greenback rebounds, eyes on future data.<\/strong><\/span><\/p>\n

US dollar extended gains on yesterday following positive regional data and a selloff in other major currencies. As of writing, the dollar index was quoted up 0.10% to 98.20 during Asian session. According to Markit, US Manufacturing PMI expanded to 51.0 for the month of September, fared better than economists\u2019 forecast to remains stable at 50.3. Overall, the data shows a resilient manufacturing market in the US despite ongoing trade war in between US and China. However, gains on the greenback were limited after Services PMI for the month of September expanded to 50.9, slightly lower than forecast of 51.3. Overall sentiment towards the greenback remains optimistic while investors continue to scrutinize future economic data from the US such as Core PCE Price Index and GDP which would be used to determine Federal Reserve\u2019s future monetary policy stance. On the other hand, pair of EUR\/USD ticked down 0.01% to 1.0990. Euro received a selloff on yesterday after German Manufacturing PMI slumped to 41.4, missing economist forecast of 44.0 for the month of September. The data has reinforced market\u2019s perception that EU\u2019s economy remains fragile and it may open up for more monetary policy easing in the future if the current condition persists or deteriorates.<\/p>\n

 <\/p>\n

On the other hand, crude oil price slumped 0.19% to $58.41 per barrel. Oil futures were dumped after Reuters reported that Saudi Arabia oil production may be restored fully by next week. Otherwise, gold price depreciates by 0.12% to $1,520.34 a troy ounce after rising up on yesterday due to higher risk aversion in the market.<\/p>\n

\u00a0<\/u><\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:00<\/td>\nEUR \u2013 German Ifo Business Climate Index (Sep)<\/td>\n94.3<\/td>\n94.5<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (Sep)<\/td>\n135.1<\/td>\n134.1<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

 <\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the index to extend its gains after breaking the resistance of 98.20.<\/p>\n

 <\/p>\n

Resistance level: 98.20, 98.30<\/p>\n

Support level: 97.95, 97.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout from the upward channel. However, MACD which illustrate diminishing downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2515, 1.2600<\/p>\n

Support level: 1.2400, 1.2325<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminished bearish momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1010, 1.1070<\/p>\n

Support level: 1.0930, 1.0870<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing at 107.60. MACD which illustrate bullish signal suggests the pair to extend its gains after breaking the resistance at 107.60.<\/p>\n

 <\/p>\n

Resistance level: 107.60, 108.05<\/p>\n

Support level: 107.05, 106.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD 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 as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6800, 0.6830<\/p>\n

Support level: 0.6750, 0.6705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD 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 as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6360, 0.6410<\/p>\n

Support level: 0.6290, 0.6250<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing at the support of 1.3255. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 1.3255.<\/p>\n

 <\/p>\n

Resistance level: 1.3280, 1.3315<\/p>\n

Support level: 1.3255, 1.3220<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower levels. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9925, 0.9970<\/p>\n

Support level: 0.9865, 0.9820<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests its price to be traded higher after breaking 58.70.<\/p>\n

 <\/p>\n

Resistance level: 58.70, 60.85<\/p>\n

Support level: 57.30, 55.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance of 1523.00. MACD which illustrate diminished upward momentum suggests its price to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1523.00, 1533.00<\/p>\n

Support level: 1509.00, 1494.50<\/p>\n","protected":false},"excerpt":{"rendered":"

24 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 Morning Session Analysis   Greenback rebounds, eyes on future data. US dollar extended gains on yesterday following positive regional data and a selloff in other major currencies. As of writing, the dollar index was quoted up 0.10% to 98.20 during Asian session. According to Markit, US Manufacturing PMI expanded to 51.0 for […]<\/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\/79704"}],"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=79704"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/79704\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=79704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=79704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=79704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}