{"id":85396,"date":"2019-10-30T01:24:13","date_gmt":"2019-10-30T01:24:13","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=85396"},"modified":"2019-10-30T01:24:13","modified_gmt":"2019-10-30T01:24:13","slug":"301019-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/301019-morning-session-analysis\/","title":{"rendered":"301019 Morning Session Analysis"},"content":{"rendered":"

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

 <\/p>\n

Greenback swoops amid pessimism of trade deal.<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies slumped after recent news showed that Trump administration unwilling and maybe unable to achieve the phase 1 trade deal in upcoming meeting between both premiers in Chile. Despite, US government revealed that the progress on solving the issue of trade deal is still good, if the deal may not be signed on November meeting, it does not mean the deal will be broken. On the other side, mixed economic data from US region also drove the greenback\u2019s direction unclear. According to the economic data, US CB Consumer Confidence data came in at 125.9, missing the forecast of economist at 128.0 while hinting consumers are pessimistic toward the economy growth outlook. However, upbeat result of Pending Home Sales data lifted up the appeal of dollar as it been reported at 1.5%, unexpectedly higher than economist forecast at 0.9%. Dollar index inched down 0.08% to 97.40 during Asian early trading session. On the other hand, the pair of GBP\/USD quoted up 0.01% to 1.2865 while remained as the hottest trading pair in forex market. Under the support from Labour party, UK Prime Minister Boris Johnson managed to win in a vote on requesting a general election during the season of winter, December 12. In the voting, the house of common has approved the legislation paving the way for the first general election since year 1923 by the margin of 438 votes to 20, with an intention to solve the Brexit deadlock as early as possible.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price ticks down 0.<\/strong>02% to $55.37 per barrel amid US inventories data shows a stockpile of 0.6M. Nevertheless, market sentiment are still blurred with the conflicting report which showed OPEC might willing to have further oil production cut but Russia not interested in doing more. Otherwise, gold price was traded flat near $1,487.80 a troy ounce amid investors are continue to eyes on further news from trade negotiation.<\/p>\n

 <\/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

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BoC Monetary Policy Report<\/p>\n

23:15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CAD\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 BOC Press Conference<\/p>\n

02:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 USD\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 FOMC Statement<\/p>\n

(31th<\/sup>)<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\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
16:55<\/td>\nEUR \u2013 German Unemployment Change (Oct)<\/td>\n-10K<\/td>\n2K<\/td>\n–<\/td>\n<\/tr>\n
16:55<\/td>\nEUR \u2013 German Unemployment Rate (Oct)<\/td>\n5.0%<\/td>\n5.0%<\/td>\n–<\/td>\n<\/tr>\n
20:15<\/td>\nUSD \u2013 ADP Nonfarm Employment Change (Oct)<\/td>\n135K<\/td>\n120K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD \u2013 GDP (QoQ) (Q3)<\/td>\n2.0%<\/td>\n1.6%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nCAD \u2013 BoC Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n
22:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-1.699M<\/td>\n0.494M<\/td>\n–<\/td>\n<\/tr>\n
02:00<\/p>\n

(31th<\/sup>)<\/td>\n

USD \u2013 Fed Interest Rate Decision<\/td>\n2.00%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retracement from the higher level. MACD which illustrate downward momentum suggests the index to extend its losses toward the support level at 97.30.<\/p>\n

 <\/p>\n

Resistance level: 97.75, 98.35<\/p>\n

Support level: 97.30, 96.85<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior rebound from the support level at 1.2820. However, MACD which illustrate bearish signal suggests the pair to be traded lower in short term toward the support level at 1.2820.<\/p>\n

 <\/p>\n

Resistance level: 1.3035, 1.3170<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the 50 moving average line (Blue). MACD which illustrate upward momentum suggests the pair to extend its gains toward the resistance level at 1.1125.<\/p>\n

 <\/p>\n

Resistance level: 1.1125, 1.1200<\/p>\n

Support level: 1.1030, 1.0930<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower while currently testing near the upward trend line. MACD which illustrate bearish signal suggests the pair to extend its losses after it successfully breakout below the upward trend line.<\/p>\n

 <\/p>\n

Resistance level: 108.90, 109.25<\/p>\n

Support level: 108.40, 107.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following prior retracement near the resistance level at 0.6880. MACD which illustrate diminished upward momentum suggests the pair to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.6880, 0.6965<\/p>\n

Support level: 0.6795, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H1: <\/strong>NZDUSD was traded lower following prior retracement from the 50 moving average line (Blue). MACD which illustrate diminished upward momentum suggests the pair to be traded lower toward the support level at 0.6325.<\/p>\n

 <\/p>\n

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

Support level: 0.6325, 0.6285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher while currently testing the resistance level at 1.3085.MACD which illustrate diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 1.3085.<\/p>\n

 <\/p>\n

Resistance level: 1.3085, 1.3145<\/p>\n

Support level: 1.3020, 1.2905<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded higher while currently testing the resistance level at 0.9945. MACD which illustrate persistent upward momentum suggests the pair to be trade higher after it successfully breakout above the resistance level at 0.9945.<\/p>\n

 <\/p>\n

Resistance level: 0.9945, 1.0005<\/p>\n

Support level: 0.9885, 0.9810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the 50 moving average line (Blue). MACD which illustrate diminishing bearish momentum suggests its price to extend its gains toward the resistance level at 55.90<\/p>\n

 <\/p>\n

Resistance level: 55.90, 56.80<\/p>\n

Support level: 54.65, 53.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower following prior breakout below the previous support level at 1488.30. However, MACD which illustrate diminishing bullish momentum suggests its price to extend losses toward the support level at 1484.70.<\/p>\n

 <\/p>\n

Resistance level: 1488.30, 1495.50<\/p>\n

Support level: 1484.70, 1476.85<\/p>\n","protected":false},"excerpt":{"rendered":"

30 October 2019\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 Morning Session Analysis   Greenback swoops amid pessimism of trade deal. Dollar index which gauge its value against a basket of six major currencies slumped after recent news showed that Trump administration unwilling and maybe unable to achieve the phase 1 trade deal in upcoming meeting between both premiers in Chile. Despite, […]<\/p>\n","protected":false},"author":54,"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\/85396"}],"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\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=85396"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/85396\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=85396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=85396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=85396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}