{"id":85270,"date":"2019-10-29T00:06:08","date_gmt":"2019-10-29T00:06:08","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=85270"},"modified":"2019-10-29T00:06:08","modified_gmt":"2019-10-29T00:06:08","slug":"291019-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/291019-morning-session-analysis\/","title":{"rendered":"291019 Morning Session Analysis"},"content":{"rendered":"

29 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

All eyes on Fed\u2019s policy meeting.<\/strong><\/span><\/p>\n

Greenback retraced slightly on Monday while market participants await the highly anticipated Federal Reserve monetary policy meeting due later this week. As of writing, the dollar index fell 0.09% to 97.45. The Fed is highly expected to cut its interest rate for the third time this year when they meet this Wednesday and Thursday. However, investors are currently anticipating for their comments during its press conference to find out whether policymakers would continue to ease their policy further in the future. Recently, economic data from the region shows substantial slowdown in terms of economic momentum, spurring higher possibility for a rate cut in order to limit any potential recession risks. On the other hand, pair of GBP\/USD slipped by 0.04% to 1.2857 during Asian trading session. Pound sterling received some bearish pressure after UK PM Boris Johnson failed to win support for an early general election on December 12th<\/sup>. The vote came just a few hours after EU offered to delay Brexit until January 31st<\/sup> and also gave an option to leave early if the Withdrawal Agreement was being passed in the UK Parliament.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price ticks up 0.05% to $55.66 per barrel. On yesterday, oil futures experienced a selloff after recent economic data from China came in lower than expected, spurring concern over diminishing economic momentum from one of the world\u2019s largest economy. Otherwise, gold price was traded flat near $1,492.28 a troy ounce as market participants wait for further signals 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

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
22:00<\/td>\nUSD \u2013 CB Consumer Confidence (Oct)<\/td>\n125.1<\/td>\n128.0<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Sep)<\/td>\n1.6%<\/td>\n0.9%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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


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

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

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

\"\"<\/p>\n

DOLLAR_INDX, H1: <\/strong>Dollar index was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the index to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 97.60, 97.80<\/p>\n

Support level: 97.35, 97.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded flat near the support of 1.2820. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/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 the 20-MA line (Red). MACD which illustrate diminished upward momentum suggests the pair to be traded lower, towards the direction of 1.1080.<\/p>\n

 <\/p>\n

Resistance level: 1.1145, 1.1180<\/p>\n

Support level: 1.1080, 1.1010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing near the resistance of 109.00. MACD which illustrate bullish signal suggests the pair to extend its gains after closing above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 109.00, 109.40<\/p>\n

Support level: 108.50, 108.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H1: <\/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.<\/p>\n

 <\/p>\n

Resistance level: 0.6850, 0.6885<\/p>\n

Support level: 0.6820, 0.6780<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior rebound from the support of 0.6330. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6355, 0.6390<\/p>\n

Support level: 0.6330, 0.6300<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Weekly: <\/strong>USDCAD was traded lower while currently testing at the support of 1.3050. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the support level.<\/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 lower following prior retracement from the resistance at 0.9970. 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: 0.9970, 1.0010<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing near the support of 55.55. MACD which illustrate bearish signal suggests its price to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 56.70, 57.30<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retrace from its higher level. MACD which illustrate bearish signal suggests its price to be traded lower in short-term.<\/p>\n

 <\/p>\n

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

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

29 October 2019\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   All eyes on Fed\u2019s policy meeting. Greenback retraced slightly on Monday while market participants await the highly anticipated Federal Reserve monetary policy meeting due later this week. As of writing, the dollar index fell 0.09% to 97.45. The Fed is highly expected to cut its interest rate for […]<\/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\/85270"}],"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=85270"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/85270\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=85270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=85270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=85270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}