{"id":89652,"date":"2019-11-26T00:55:11","date_gmt":"2019-11-26T00:55:11","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=89652"},"modified":"2019-11-26T00:55:11","modified_gmt":"2019-11-26T00:55:11","slug":"261119-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/261119-morning-session-analysis\/","title":{"rendered":"261119 Morning Session Analysis"},"content":{"rendered":"

26 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

Pound surged amid positive outlook for Brexit<\/strong><\/span><\/p>\n

Pound Sterling surged from recent lows amid to positive prospect for Brexit outlook. According to Reuters, Pound Sterling received some bullish momentum as the Conservative Party continued to maintain its lead in the poll against the Labour Party, increasing the probability for UK Prime Minister Boris Johnson to win a majority at the upcoming general election on 12th December 2019. Such sentiment has enhanced the hope upon the resolution of the Brexit, insinuating the demand for the Pound Sterling. However, a recent poll had showed that the Conservative\u2019s lead over the main opposition Labour Party was narrowing during the last week, limited the further gains experienced by the Pound Sterling. On the other hand, Dollar index received some bullish momentum amid to positive outlook for the trade deal between United States and China, spurring the risk sentiment and the demand for the greenback on Monday. According to Bloomberg, China was seeking to substantially raise the upper limits for intellectual property violations fines in order to reduce the tensions between the US and China. At this time, investors would continue to scrutinize the latest news with regard of trade war and Brexit, as well as economic data to gauge the likelihood movement of these pairs. As of writing, GBP\/USD appreciated by 0.02% to 1.2898 while Dollar Index surged 0.02% to 98.16.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price was traded flat at $57.89 per barrels. Investors would continue to scrutinize the crude oil inventories data as well as OPEC\u2019S meeting which scheduled next month in order to obtain further trade signals for the commodity. On the other hand, gold price depreciated by 0.03% to $1451.19 per troy ounces amid diminishing trade tensions and stronger greenback.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 CB Consumer Confidence (Nov)<\/td>\n125.9<\/td>\n127.0<\/td>\n–<\/strong><\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 New Home Sales (Oct)<\/td>\n701k<\/td>\n709k<\/td>\n\u00a0<\/strong><\/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 higher while currently testing the resistance level at 98.20. However, MACD which illustrate diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 98.20, 98.40<\/p>\n

Support level: 97.95, 97.75<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher while currently near the resistance level at 1.2965. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.2965, 1.3180<\/p>\n

Support level: 1.2765, 1.2550<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded lower while currently testing the support level at 1.1000. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.1080, 1.1165<\/p>\n

Support level: 1.1000, 1.0900<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 109.05. 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: 109.05, 109.20<\/p>\n

Support level: 108.80, 108.65<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing the support level at 0.6765. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.6820, 0.6875<\/p>\n

Support level: 0.6765, 0.6705<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4:<\/strong> NZDUSD was traded higher while currently testing the resistance level at 0.6410. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.6410, 0.6435<\/p>\n

Support level: 0.6390, 0.6375<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower following prior retracement from the resistance level at 1.3325. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3325, 1.3375<\/p>\n

Support level: 1.3265, 1.3210<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9980. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses toward support level at 0.9945.<\/p>\n

 <\/p>\n

Resistance level: 0.9980, 1.0010<\/p>\n

Support level: 0.9945, 0.9915<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded lower following prior retracement from the resistance level at 58.35. MACD which illustrated increasing bullish momentum suggest the commodity to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 58.35, 60.05<\/p>\n

Support level: 56.75, 55.50<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, Daily: <\/strong>Gold price traded lower while currently near the support level at 1447.50. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1489.30, 1514.65<\/p>\n

Support level: 1447.50, 1413.70<\/p>\n

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

26 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 Pound surged amid positive outlook for Brexit Pound Sterling surged from recent lows amid to positive prospect for Brexit outlook. According to Reuters, Pound Sterling received some bullish momentum as the Conservative Party continued to maintain its lead in the poll against the Labour Party, increasing the probability for […]<\/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\/89652"}],"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=89652"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/89652\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=89652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=89652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=89652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}