{"id":81162,"date":"2019-10-02T00:06:51","date_gmt":"2019-10-02T00:06:51","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=81162"},"modified":"2019-10-02T00:06:51","modified_gmt":"2019-10-02T00:06:51","slug":"021019-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/021019-morning-session-analysis\/","title":{"rendered":"021019 Morning Session Analysis"},"content":{"rendered":"

2 October 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

Greenback stumbled after ISM data disappoints.<\/strong><\/span><\/p>\n

US dollar slumped sharply on yesterday following the release of manufacturing data from the region. According to Institute for Supply Management (ISM), its Manufacturing PMI for the month of September enters deeper into the contraction region with a reading of 47.8, missing economists\u2019 forecast for an increase to 50.4. The reading for the month of September marks second consecutive month of contraction while achieving its lowest level since June 2009. The report fanned further recessive fears in the market as global trade took a significant hit due to lingering US-China trade war which is yet to be resolved. For the time being, investors will continue to scrutinize future economic data from the US in order to attain more market signals. On the other hand, pound sterling extended its losses while Brexit deadline inches nearer. Recently leaked report shows that UK government plans to place custom checks between the borders of Northern Ireland and the Irish Republic, both in which EU and Ireland have rejected previously. As of writing, the dollar index was down 0.21% to 98.75 while pair of GBP\/USD depreciates by 0.10% to 1.2289.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price rose 0.11% to $54.05 per barrel. Oil futures received some bullish support after API reported a draw in last week\u2019s oil inventories by -5.920 million barrels. Otherwise, gold price ticks up 0.01% to $1,478.72 a troy ounce due to weaker 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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CNY\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 China \u2013 National Day<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Construction PMI (Sep)<\/td>\n45.0<\/td>\n45.0<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD \u2013 ADP Nonfarm Employment Change (Sep)<\/td>\n195K<\/td>\n140K<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n2.412M<\/td>\n1.567M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n


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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing at 98.65. MACD which illustrate bearish signal suggests the index to extend its losses after closing below the support of 98.65.<\/p>\n

 <\/p>\n

Resistance level: 99.00, 99.30<\/p>\n

Support level: 98.65, 98.30<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the higher level. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

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

Support level: 1.2260, 1.2170<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher while currently testing at the resistance of 1.0930. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term after breaking the target of 1.0930.<\/p>\n

 <\/p>\n

Resistance level: 1.0930, 1.1010<\/p>\n

Support level: 1.0870, 1.0800<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing at the support of 107.60. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 107.60.<\/p>\n

 <\/p>\n

Resistance level: 108.10, 108.45<\/p>\n

Support level: 107.40, 107.05<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded higher while currently testing at the resistance near 0.6705. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term after breaking 0.6705.<\/p>\n

 <\/p>\n

Resistance level: 0.6705, 0.6745<\/p>\n

Support level: 0.6670, 0.6600<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Weekly: <\/strong>NZDUSD was traded lower after closing below 0.6300. MACD which illustrate bearish signal suggests the pair to extend its losses in mid-term, towards the direction of 0.6035.<\/p>\n

 <\/p>\n

Resistance level: 0.6300, 0.6435<\/p>\n

Support level: 0.6030, 0.5790<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing at the support of 1.3220. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 1.3220.<\/p>\n

 <\/p>\n

Resistance level: 1.3255, 1.3280<\/p>\n

Support level: 1.3220, 1.3190<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing at the support of 0.9925. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 0.9925.<\/p>\n

 <\/p>\n

Resistance level: 0.9970, 1.0010<\/p>\n

Support level: 0.9925, 0.9865<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests its price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

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

Support level: 53.00, 51.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price remains traded within a downward wedge formation. Stochastic Oscillator which illustrate rebound signal suggests its price to be traded higher in short-term after a successful rebound from the lower levels.<\/p>\n

 <\/p>\n

Resistance level: 1484.05, 1511.00<\/p>\n

Support level: 1460.00, 1442.85<\/p>\n

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

2 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Greenback stumbled after ISM data disappoints. US dollar slumped sharply on yesterday following the release of manufacturing data from the region. According to Institute for Supply Management (ISM), its Manufacturing PMI for the month of September enters deeper into the contraction region with a reading of 47.8, missing […]<\/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\/81162"}],"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=81162"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/81162\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=81162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=81162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=81162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}