{"id":83946,"date":"2019-10-21T00:14:52","date_gmt":"2019-10-21T00:14:52","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=83946"},"modified":"2019-10-21T00:14:52","modified_gmt":"2019-10-21T00:14:52","slug":"211019-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/211019-morning-session-analysis\/","title":{"rendered":"211019 Morning Session Analysis"},"content":{"rendered":"

21 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 tumbles as Brexit deal vote falters.<\/strong><\/span><\/p>\n

Pound sterling opened lower during Asian trading session following waning optimism towards Brexit. The pair of GBP\/USD tumbled down 0.53% to 1.2902 as of writing. Sterling received higher selling pressure after UK Parliament\u2019s voting session upon the revised Brexit deal falters due to Letwin Amendment. The amendment was passed with 322 against 306, whereby the parliament withhold the approval of Brexit deal and at the same time forces UK PM Boris Johnson to request for a Brexit extension with the European Union if it fails to be approved. However, analysts suggest that EU is less likely to approve for a longer extension and they are most likely to extend the Brexit deadline of 31st<\/sup> October by another three months. For the time being, investors will place their focus upon Parliamentary questioning upon the Brexit deal, specifically with regards to Irish backstop during this week. On the other hand, greenback rebounds from its lower levels following a slump in pound sterling and euro. However, the currency failed to make further substantial gains as recent economic data from the region suggests for more rate cuts from the Federal Reserve in order to sustain current economic momentum. As of writing, the dollar index rose 0.07% to 97.12.<\/p>\n

 <\/p>\n

As for commodities, crude oil price depreciates by 0.22% to $53.61 per barrel. Oil prices remains under pressure as slowing global economy places a bearish outlook upon future demand for the commodity. On the other hand, gold price rose 0.03% to $1,490.98 a troy ounce due to rising Brexit risks in the UK and EU.<\/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 Event<\/strong><\/p>\n

N\/A<\/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
14:00<\/td>\nEUR \u2013 German PPI (MoM) (Sep)<\/td>\n-0.5%<\/td>\n-0.1%<\/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

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DOLLAR_INDX, Daily: <\/strong>Dollar index was traded lower following prior close below 97.15. MACD which illustrate bearish signal suggests the index to extend its losses in mid-term, towards the direction of 96.70.<\/p>\n

 <\/p>\n

Resistance level: 97.15, 97.60<\/p>\n

Support level: 96.70, 96.10<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower while currently testing at the upward trendline. MACD which begins to form bearish signal suggests the pair to extend its losses after breaking the trendline.<\/p>\n

 <\/p>\n

Resistance level: 1.2950, 1.3035<\/p>\n

Support level: 1.2820, 1.2665<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 1.1180, 1.1205<\/p>\n

Support level: 1.1145, 1.1085<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following prior retracement from 108.75. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 108.10.<\/p>\n

 <\/p>\n

Resistance level: 108.45, 108.75<\/p>\n

Support level: 108.10, 107.60<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.6865, 0.6885<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior retracement from its higher levels. 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: 0.6410, 0.6425<\/p>\n

Support level: 0.6365, 0.6340<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD 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 as technical correction.<\/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 higher following prior rebound from the lower levels. 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: 0.9865, 0.9925<\/p>\n

Support level: 0.9820, 0.9775<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior retrace from 54.45. 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: 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 diminished upward momentum suggests its price to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

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

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

21 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Sterling tumbles as Brexit deal vote falters. Pound sterling opened lower during Asian trading session following waning optimism towards Brexit. The pair of GBP\/USD tumbled down 0.53% to 1.2902 as of writing. Sterling received higher selling pressure after UK Parliament\u2019s voting session upon the revised Brexit deal falters […]<\/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\/83946"}],"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=83946"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/83946\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=83946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=83946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=83946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}