{"id":80189,"date":"2019-09-26T01:38:07","date_gmt":"2019-09-26T01:38:07","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=80189"},"modified":"2019-09-26T01:38:07","modified_gmt":"2019-09-26T01:38:07","slug":"260919-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/260919-morning-session-analysis\/","title":{"rendered":"260919 Morning Session Analysis"},"content":{"rendered":"

26 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

US-Ukraine transcript thwart impeachment ambitions.\u00a0<\/strong><\/span><\/p>\n

US dollar extended its gains to one-and-a-half-week high on yesterday following the release of transcript between US President Donald trump and Ukrainian President Volodymyr Zelensky. Prior, House of Representatives opened a formal impeachment inquiry upon Trump with regards to seeking help from Ukraine to investigate former Vice President Joe Biden in exchange for foreign aid. While the transcript revealed that Trump did ask Zelensky for such favour, no direct mention of foreign aid was being made. The transcript failed to intensify the inquiry as no direct pressure was being asserted by the US towards Ukraine. As such, it has diminished the chances for an impeachment for the time being. In addition, greenback received additional bullish support after New Home Sales for the month of August came in at 713K units, significantly higher than forecast of only 660K units. For the time being, investors will scrutinize US Gross Domestic Product data which is bound to be released later tonight. On the other hand, pair of GBP\/USD slumped 0.03% to 1.2355. Pound sterling fell sharply on yesterday due to Brexit uncertainties as the 31st<\/sup> October deadline approaches. Following the resumption of UK Parliament, PM Boris Johnson addressed to opposition party to call for a no-confidence vote or to stand aside and vote for any deals that Johnson receives.<\/p>\n

 <\/p>\n

In the commodities section, crude oil price rebounds by 0.02% to $56.66 per barrel. Although crude oil inventories came in at a slightly higher value, US Weekly Distillates Stocks slumped more than expected which has sparked some bullish bets following the release of both data. On the other hand, gold price managed to recover its losses by 0.08% to $1,504.81 a troy ounce following overnight\u2019s losses due to a stronger greenback.<\/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

21:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0ECB President Draghi Speaks<\/p>\n

21:45\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 BoE Gov Carney Speaks<\/p>\n

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

\u00a0<\/u><\/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
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q2)<\/td>\n2.0%<\/td>\n2.0%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Initial Jobless Claims<\/td>\n208K<\/td>\n212K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Aug)<\/td>\n-2.5%<\/td>\n0.9%<\/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 lower following prior retrace from 98.65. MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 98.65, 99.00<\/p>\n

Support level: 98.40, 98.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.2400, 1.2515<\/p>\n

Support level: 1.2320, 1.2260<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward 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 lower following prior retrace from the higher level. MACD which illustrate diminished upward momentum suggests the pair to be traded lower after closing below 107.60.<\/p>\n

 <\/p>\n

Resistance level: 108.05, 108.45<\/p>\n

Support level: 107.60, 107.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher following prior rebound from the support of 0.6750. MACD which illustrate positive divergence signal suggests the pair to be traded higher in short-term.<\/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 lower following prior closure below 0.6290. MACD which illustrate bearish signal suggests the pair to extend its losses in the mid-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6290, 0.6320<\/p>\n

Support level: 0.6250, 0.6220<\/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 the support level.<\/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 lower following prior retrace from its higher levels. MACD which illustrate diminished upward momentum suggests the pair to be traded lower 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 support of 55.55. MACD which shows diminishing downward momentum suggests its price to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 57.30, 58.70<\/p>\n

Support level: 55.55, 54.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher following prior rebound from the lower levels. MACD which illustrate diminished downward momentum suggests its price to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1509.00, 1523.00<\/p>\n

Support level: 1494.50, 1483.50<\/p>\n","protected":false},"excerpt":{"rendered":"

26 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   US-Ukraine transcript thwart impeachment ambitions.\u00a0 US dollar extended its gains to one-and-a-half-week high on yesterday following the release of transcript between US President Donald trump and Ukrainian President Volodymyr Zelensky. Prior, House of Representatives opened a formal impeachment inquiry upon Trump with regards to seeking help from Ukraine […]<\/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\/80189"}],"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=80189"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/80189\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=80189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=80189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=80189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}