{"id":83726,"date":"2019-10-18T00:20:54","date_gmt":"2019-10-18T00:20:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=83726"},"modified":"2019-10-18T00:20:54","modified_gmt":"2019-10-18T00:20:54","slug":"181019-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/181019-morning-session-analysis\/","title":{"rendered":"181019 Morning Session Analysis"},"content":{"rendered":"

18 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Sterling rose as Brexit deal reached.<\/strong><\/span><\/p>\n

Greenback remains under pressure on Thursday while pound sterling extended gains due to positive report with regards to Brexit. On yesterday, European Union Commission President Jean-Claude Juncker and UK Prime Minister Boris Johnson announced their agreement via Twitter. The Withdrawal Agreement was also approved by EU leaders during their summit on Thursday, while the UK would need to pass it through its Parliament in the weekends. However, Northern Ireland\u2019s Democratic Unionist Party expressed their opposition on the agreement, making it uncertain if the deal could be passed when voting is being initiated on this Saturday. The deal would require Northern Ireland to apply limited set of EU rules upon certain goods, with the UK charging EU tariffs upon goods passing into the EU markets. In addition, Northern Ireland will have their rights to vote every four years if the agreement would stay. As of writing, pair of GBP\/USD depreciates by 0.13% to 1.2871. On the other hand, greenback extended its losses after Philadelphia Fed Manufacturing Index slumped to 5.6 for the month of October, missing economists\u2019 forecast of 7.3. The depreciation in its activity were mainly contributed by lower shipments activity and average workweek. The dollar index fell 0.45% to 97.27.<\/p>\n

 <\/p>\n

As for commodities, crude oil price tumbled 0.13% to $54.02 per barrel. Oil prices remains traded within a tight range as traders wait for further market signals. Otherwise, gold price rose 0.09% to $1,493.24 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

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

Tentative\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 CrudeOIL\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 OPEC Meeting<\/p>\n

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

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
01:00<\/p>\n

(19th<\/sup>)<\/td>\n

CrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n712<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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

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

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

\"\"<\/p>\n

DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior closure below 97.60. MACD which illustrate bearish signal suggests the index to be traded lower in mid-term.<\/p>\n

 <\/p>\n

Resistance level: 97.60, 98.10<\/p>\n

Support level: 97.15 96.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retrace from the upper 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: 1.2950, 1.3035<\/p>\n

Support level: 1.2815, 1.2665<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout at 1.1105. However, 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: 1.1150, 1.1210<\/p>\n

Support level: 1.1105, 1.1070<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 108.75, 109.30<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/strong>AUDUSD was traded lower following prior retrace from the higher level. MACD which illustrate bearish signal suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6830, 0.6865<\/p>\n

Support level: 0.6800, 0.6770<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior closure above 0.6340. MACD which illustrate bullish signal suggests the pair to extend its gains in mid-term, towards the direction of 0.6365.<\/p>\n

 <\/p>\n

Resistance level: 0.6365, 0.6410<\/p>\n

Support level: 0.6340, 0.6310<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior closure below 1.3145. MACD which illustrate bearish signal suggests the pair to extend its losses in mid-term, towards the direction of 1.3090.<\/p>\n

 <\/p>\n

Resistance level: 1.3145, 1.3190<\/p>\n

Support level: 1.3090, 1.3025<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower while currently testing at 0.9865. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 0.9865.<\/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 bullish signal suggests its price to be traded higher, towards the direction of 54.45.<\/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_, H4: <\/strong>Gold price remains traded within a sideways channel formation. MACD which illustrate bullish signal suggests its price to extend its gains, towards the direction of 1496.00.<\/p>\n

 <\/p>\n

Resistance level: 1496.00, 1511.00<\/p>\n

Support level: 1484.05, 1477.00<\/p>\n","protected":false},"excerpt":{"rendered":"

18 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Sterling rose as Brexit deal reached. Greenback remains under pressure on Thursday while pound sterling extended gains due to positive report with regards to Brexit. On yesterday, European Union Commission President Jean-Claude Juncker and UK Prime Minister Boris Johnson announced their agreement via Twitter. The Withdrawal Agreement was […]<\/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\/83726"}],"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=83726"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/83726\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=83726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=83726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=83726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}