{"id":80396,"date":"2019-09-27T01:51:51","date_gmt":"2019-09-27T01:51:51","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=80396"},"modified":"2019-09-27T01:51:51","modified_gmt":"2019-09-27T01:51:51","slug":"270919-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/270919-morning-session-analysis\/","title":{"rendered":"270919 Morning Session Analysis"},"content":{"rendered":"

27 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

Whistle-blower halts greenback\u2019s advance.<\/strong><\/span><\/p>\n

Greenback extended its recent uptrend despite a slower economic growth and rising political uncertainty. According to Bureau of Economic Analysis, US economy expanded at a rate of 2.0% for the second quarter, well within economists\u2019 forecast. However, the data portrays a significant depreciation when compared to first quarter which expanded at the rate of 3.1%. Nonetheless, investors remained optimistic over US economic growth due to diminishing US-China trade war which may lead to a possible truce sooner than later. Yet, greenback\u2019s bullish momentum was remained capped after a nine-page whistle-blower document which details concern over US President Donald Trump\u2019s misuse of power were released to the public. The document not only details Trump\u2019s call to Ukraine\u2019s President on 25th<\/sup> July, it also alleges his administration\u2019s effort to suppress records related to their conversation. On the other hand, euro extended its losses and hit a fresh new low for the year 2019 due to bleak economic outlook towards the single economy. Rising uncertainty over European Central Bank\u2019s policy and bearish economic data from the region has encourage investors to flock towards other assets in the financial market. As of writing, the dollar index was quoted up 0.17% to 98.78 while EUR\/USD was down 0.01% to 1.0920.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slumped 0.28% to $56.41 per barrel. Oil prices ended lower on yesterday after Saudi Arabia\u2019s daily supply return to its full potential following prior attacks from Houthi group. On the other hand, gold price rose 0.06% to $1,505.47 a troy ounce due to lingering risks 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


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

\u00a0<\/u><\/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
20:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Aug)<\/td>\n-0.4%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 Core PCE Price Index (MoM) (Aug)<\/td>\n0.2%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Michigan Consumer Sentiment (Sep)<\/td>\n89.8<\/td>\n92.0<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/p>\n

(28th<\/sup>)<\/td>\n

CrudeOIL \u2013 Baker Hughes Oil Rig Count<\/td>\n719<\/td>\n–<\/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 while currently testing near the resistance level 98.85. However, MACD which illustrate diminishing bullish momentum suggest the dollar to experience a technical correction in short term towards the support level 98.40.<\/p>\n

 <\/p>\n

Resistance level: 98.85, 99.25<\/p>\n

Support level: 98.40, 98.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4:<\/strong> GBPUSD was traded lower following prior breakout below the previous support level 1.2385. However, MACD which display diminishing bearish momentum suggest the pair to be traded higher as a short term technical correction towards the current resistance level 1.2385.<\/p>\n

 <\/p>\n

Resistance level: 1.2385, 1.2495<\/p>\n

Support level: 1.2260, 1.2165<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4:<\/strong> EURUSD was traded lower while currently testing the support level 1.0915. However, MACD which illustrate diminishing bearish bias suggest the pair to undergo a technical correction in short term towards the resistance level 1.0965<\/p>\n

 <\/p>\n

Resistance level: 1.0965, 1.1020<\/p>\n

Support level: 1.0915, 1.0850<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4:<\/strong> USDJPY was traded higher following prior breakout above the previous resistance level 107.55. However, MACD which illustrate diminishing bullish momentum signal suggest the pair to experience a short term technical correction towards back the current support level 107.55.<\/p>\n

 <\/p>\n

Resistance level: 108.35, 109.20<\/p>\n

Support level: 107.55, 107.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower while currently testing near the support level 0.6745. However, due to lack of clear signal and direction from MACD, it is suggested to wait until further signal suggest as breakout below the support level before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 0.6805, 0.6850<\/p>\n

Support level: 0.6745, 0.6690
\n<\/strong><\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4:<\/strong> NZDUSD was traded lower following prior retracement from the resistance level 0.6325. MACD which illustrate bearish bias signal suggest the pair to extend its retracement towards the support level 0.6270.<\/p>\n

 <\/p>\n

Resistance level: 0.6325, 0.6355<\/p>\n

Support level: 0.6270, 0.6235<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4:<\/strong> USDCAD was traded in a sideway channel following recent rebound from the support level 1.3235. Due to lack of signal and clear direction from MACD, it is suggested to wait until further signal appear before entering the market.<\/p>\n

 <\/p>\n

Resistance level: 1.3305, 1.3365<\/p>\n

Support level: 1.3235, 1.3185<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4:<\/strong> USDCHF was remain traded in a sideway channel while currently testing near the resistance level 0.9940. However, MACD which illustrate diminishing bullish momentum suggest the pair to experience a technical correction in short term towards support level 0.9855.<\/p>\n

 <\/p>\n

Resistance level: 0.9940, 0.9980<\/p>\n

Support level: 0.9855, 0.9800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4<\/strong>: Crude oil was traded flat near the support level 55.30. However, MACD which illustrate diminishing bearish momentum with the starting formation of golden cross suggest the commodity to be traded higher towards the resistance level 58.35.<\/p>\n

 <\/p>\n

Resistance level: 58.35, 62.00<\/p>\n

Support level: 55.30, 53.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_H4:<\/strong> Gold price was traded flat near the resistance level 1512.75. However, MACD which illustrate bullish bias signal suggest the commodity to be traded higher after it breaks above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1512.75, 1535.00<\/p>\n

Support level: 1487.35, 1452.15<\/p>\n","protected":false},"excerpt":{"rendered":"

27 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   Whistle-blower halts greenback\u2019s advance. Greenback extended its recent uptrend despite a slower economic growth and rising political uncertainty. According to Bureau of Economic Analysis, US economy expanded at a rate of 2.0% for the second quarter, well within economists\u2019 forecast. However, the data portrays a significant depreciation when […]<\/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\/80396"}],"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=80396"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/80396\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=80396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=80396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=80396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}