{"id":85830,"date":"2019-11-01T01:07:22","date_gmt":"2019-11-01T01:07:22","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=85830"},"modified":"2019-11-01T01:08:00","modified_gmt":"2019-11-01T01:08:00","slug":"011119-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/011119-morning-session-analysis\/","title":{"rendered":"011119 Morning Session Analysis"},"content":{"rendered":"

01 November 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 Morning Session Analysis<\/strong><\/p>\n

Dollar index slump as trade tension escalated.<\/strong><\/span><\/p>\n

Greenback was traded lower following further escalation in trade tensions. According to Bloomberg, Chinese officials were casting doubts about reaching a comprehensive long-term trade deal with the U.S, even as the two sides were getting close to sign the \u201cphase one\u201d agreement. In addition, Chinese officials reiterated that they remain concerned about President Donald Trump\u2019s impulsive nature and the risk that he may back out the trade deal even the both sides claimed that they want to sign it in the coming weeks. However, trade tension was slightly diminished after President U.S Donald Trump said that a new location for signing the \u201cPhase One\u201d U.S.-China trade deal will be announced soon after the initial meeting in Chile was canceled due to protests. Such positive sentiment has limited the further losses experienced by the Dollar index. Nonetheless, investors would continue to scrutinize the major economic data which would be released by the United Stated today in order to gauge the likelihood of the movement of the index. On the other hand, the uncertainties with regards to trade war had sparked demand for the safe-haven asset such as Japanese Yen. As of writing, Dollar index was quoted down 0.32% to 97.05 while pair of USD\/JPY was traded flat at 108.00.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price fell yesterday following the Federal Reserve was forced into monetary easing after the global economy showed signs of slowing down. On the other hand, Gold price rose yesterday following the trade tensions was escalated and weaker greenback. As of writing, Crude oil price depreciates by 0.02% to $54.08 per barrel and the gold price notched down 0.01% to $1512.17 per troy ounces.<\/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

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
17.30<\/td>\nGBP – Manufacturing PMI (Oct)<\/td>\n48.3<\/td>\n48.1<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Nonfarm Payrolls (Oct)<\/td>\n136K<\/td>\n85K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Unemployment Rate (Oct)<\/td>\n3.5%<\/td>\n3.6%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – ISM Manufacturing PMI (Oct)<\/td>\n47.8<\/td>\n48.9<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/p>\n

(2nd<\/sup>)<\/td>\n

CrudeOIL -U.S. Baker Hughes Oil Rig Count<\/td>\n696<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, Daily<\/strong>: Dollar index was traded lower while currently testing the support level at 96.85. However, MACD which illustrated diminishing bearish momentum suggest the index to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 97.55, 98.15<\/p>\n

Support level: 96.85, 96.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4:<\/strong> GBPUSD was traded within a range while currently near the resistance level at 1.2980. MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower toward the support level at 1.2845.<\/p>\n

 <\/p>\n

Resistance level: 1.2980, 1.3095<\/p>\n

Support level: 1.2845, 1.2650<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily<\/strong>: EURUSD was traded higher while currently testing the resistance level at 1.1165. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.1165, 1.1240<\/p>\n

Support level: 1.1070, 1.0995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily<\/strong>: USDJPY was traded lower following prior breakout below the previous support level at 108.40. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 107.70.<\/p>\n

 <\/p>\n

Resistance level: 108.40, 109.00<\/p>\n

Support level: 107.70, 107.15<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily:<\/strong> AUDUSD was traded lower following prior retracement from the resistance level at 0.6910. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6910, 0.6960<\/p>\n

Support level: 0.6860, 0.6810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily<\/strong>: NZDUSD was traded higher while currently near the resistance level at 0.6435. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6435, 0.6495<\/p>\n

Support level: 0.6355, 0.6285<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily<\/strong>: USDCAD was traded higher following prior breakout above the previous resistance level at 1.3145. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.3210.<\/p>\n

 <\/p>\n

Resistance level: 1.3210, 1.3260<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily<\/strong>: USDCHF was traded lower following prior breakout below the previous support level at 0.9895. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses toward support level at 0.9840.<\/p>\n

 <\/p>\n

Resistance level: 0.9895, 0.9945<\/p>\n

Support level: 0.9840, 0.9795<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4:<\/strong> Crude oil price was traded lower while currently testing the support level at 53.85. MACD which illustrated bearish signal bias suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 54.65, 55.50<\/p>\n

Support level: 53.85, 52.95<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4<\/strong>: Gold price was traded higher while currently testing the resistance level at 1512.80. MACD which illustrated increasing bullish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1512.80, 1518.70<\/p>\n

Support level: 1505.70, 1498.05<\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

01 November 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 Morning Session Analysis Dollar index slump as trade tension escalated. Greenback was traded lower following further escalation in trade tensions. According to Bloomberg, Chinese officials were casting doubts about reaching a comprehensive long-term trade deal with the U.S, even as the two sides were getting close to sign the \u201cphase one\u201d agreement. […]<\/p>\n","protected":false},"author":61,"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\/85830"}],"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\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=85830"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/85830\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=85830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=85830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=85830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}