{"id":84194,"date":"2019-10-22T00:14:03","date_gmt":"2019-10-22T00:14:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=84194"},"modified":"2019-10-22T00:14:03","modified_gmt":"2019-10-22T00:14:03","slug":"221019-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/221019-morning-session-analysis\/","title":{"rendered":"221019 Morning Session Analysis"},"content":{"rendered":"

22 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

Market remains flat while waiting for more signals.<\/strong><\/span><\/p>\n

Pound sterling continues to hover near 5 months high as investors adopt wait-and-see approach while waiting for further developments with regards to Brexit. On yesterday, sterling received some bearish pressure after Speaker of the House of Commons John Bercow said that there will be no vote upon the revised Brexit agreement as he deemed it would be \u201crepetitive and disorderly to do so\u201d. However, market sentiment was invigorated after House of Commons leader Rees-Mogg announced that a second reading of the agreement will take place on Tuesday, which may lead to a vote within the Parliament. In the other region, dollar index continues to be traded flat as market participants ponder upon the developments in trade war. White House economic adviser Larry Kudlow said that tariffs scheduled for December can be withdrawn if trade negotiations in between US and China goes well. His comments came after Chinese Vice Premier Liu He said last weekend that \u201csubstantial progress\u201d was being made and argued that ending the trade war would benefit both US and China. As of writing, pair of GBP\/USD was up 0.06% to 1.2965 while the dollar index rose 0.04% to 96.99.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price slumped 0.17% to $53.38 per barrel. Oil prices continues to oscillate within a tight range as traders waits for more signals with regards to trade war and US inventories data. On the other hand, gold price was traded flat near $1,484.36 a troy ounce as traders monitor further developments with regards to Brexit and US-China trade negotiation.<\/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 JPY\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Japan – Holiday<\/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

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

Today\u2019s Highlight Economic Data<\/u><\/p>\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>\nCAD \u2013 Core Retail Sales (MoM) (Aug)<\/td>\n-0.1%<\/td>\n0.1%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Sep)<\/td>\n5.49M<\/td>\n5.45M<\/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 closure below 97.15. MACD which illustrate bearish signal suggests the index to extend its losses, 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, H4: <\/strong>GBPUSD was traded lower following prior retrace from 1.3035. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below 1.2950.<\/p>\n

 <\/p>\n

Resistance level: 1.3035, 1.3180<\/p>\n

Support level: 1.2950, 1.2820<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing at the support of 1.1145. MACD which has formed a bearish signal suggests the pair to extend its losses after closing below the support level.<\/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 higher following prior rebound from the lower levels. MACD which begins to form bullish signal suggests the pair to be traded higher in short-term.<\/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, Daily: <\/strong>AUDUSD was traded higher following prior rebound from the lower levels. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 0.6910.<\/p>\n

 <\/p>\n

Resistance level: 0.6910, 0.6980<\/p>\n

Support level: 0.6815, 0.6750<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded higher following prior rebound from the 20-MA line (red). MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6410, 0.6425<\/p>\n

Support level: 0.6370, 0.6340<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Weekly: <\/strong>USDCAD was traded lower following prior retrace from 1.3285. MACD which illustrate bearish signal suggests the pair to extend its losses, towards the direction of 1.3050.<\/p>\n

 <\/p>\n

Resistance level: 1.3285, 1.3430<\/p>\n

Support level: 1.3050, 1.2860<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower level. MACD which has formed bullish signal suggests the pair to extend its gains after closing above 0.9865.<\/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 remains traded within a sideways channel formation. MACD which illustrates bearish signal suggests its price to be traded lower in short-term.<\/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 bearish signal suggests its price to extend losses after closing below 1484.05.<\/p>\n

 <\/p>\n

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

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

22 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Market remains flat while waiting for more signals. Pound sterling continues to hover near 5 months high as investors adopt wait-and-see approach while waiting for further developments with regards to Brexit. On yesterday, sterling received some bearish pressure after Speaker of the House of Commons John Bercow said […]<\/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\/84194"}],"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=84194"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/84194\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=84194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=84194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=84194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}