{"id":92561,"date":"2019-12-13T01:32:54","date_gmt":"2019-12-13T01:32:54","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=92561"},"modified":"2019-12-13T01:32:54","modified_gmt":"2019-12-13T01:32:54","slug":"131219-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/131219-morning-session-analysis\/","title":{"rendered":"131219 Morning Session Analysis"},"content":{"rendered":"

13 December 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 Morning Session Analysis<\/strong><\/p>\n

D<\/strong>ollar index surged amid trade optimism<\/strong><\/span><\/p>\n

Dollar index which gauge its value against a basket of six major currencies jumped to a near two-week high yesterday amid to positive trade deal prospect between U.S. and China. President U.S Donald Trump yesterday wrote in his official Twitter account that: \u201cGetting Very close to a BIG DEAL with China. They want it, and so we do!\u201d. Such positive statement has spurred a very high demand for the dollar index. In addition, according to Reuters, the United States has reached a \u201cphase-one\u201d trade deal in principle with China, a source briefed on talks between the two nations said on Thursday. However, the gains experienced by the dollar index was limited following the bleak data from the U.S. region was released. According to U.S Bureau of Labor Statistics, U.S. Producer Price Index (PPI) for the last month notched down from 0.4% to 0.0%, weaker than the economist forecast at 0.2%. Meanwhile, the U.S. Core Producer Price Index (PPI) for last month came in at -0.2%, worse than the market forecast at 0.2%. Such negative data had dialled down the market optimisms toward economic progression in the United States, spurring some sell-off for the greenback. However, at this time investors would continue to scrutinize the latest updates with regards of trade wars and U.S. economic data in order to gauge the likelihood movement for the dollar index. As of writing, dollar index depreciated by 0.35% to 97.20 while GBP\/USD surged 2.37% to 1.3473 following the polls suggested a win for Conservatives Party, which enhancing the positive prospect for the soft-Brexit.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price surged 0.37% to $59.42 per barrel. Oil price edged higher as market participants expected the resolution of trade war may improve the global economic growth and the demand towards the commodity. On the other hand, gold price slumped 0.31% to $1464.50 per troy ounces amid to trade optimism news.<\/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
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nA<\/strong>ctual<\/strong><\/td>\n<\/tr>\n
21:30<\/td>\nUS \u2013 Core Retail Sales (MoM) (Nov)<\/td>\n0.2%<\/td>\n0.4%<\/td>\n–<\/td>\n<\/tr>\n
21:30<\/td>\nUS \u2013 Retail Sales (MoM) (Nov)<\/td>\n0.3%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
02:00 (14th Dec)<\/td>\nCrudeOIL \u2013 U.S. Baker Hughes Oil Rig Count<\/td>\n663<\/td>\n–<\/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 resistance level at 97.35. 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: 97.35, 97.55<\/p>\n

Support level: 97.15, 96.95<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, Daily: <\/strong>GBPUSD was traded higher following prior breakout above the previous resistance level at 1.3320. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.3615.<\/p>\n

 <\/p>\n

Resistance level: 1.3615, 1.3880<\/p>\n

Support level: 1.3320, 1.3010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, Daily: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.1165. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.1220.<\/p>\n

 <\/p>\n

Resistance level: 1.1220, 1.1285<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher while currently testing the resistance level at 109.45. 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: 109.45, 109.95<\/p>\n

Support level: 108.95, 108.45<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.6925. 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: 0.6925, 0.6985<\/p>\n

Support level: 0.6870, 0.6810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded higher following prior breakout above the previous resistance level at 0.6600. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 0.6660.<\/p>\n

 <\/p>\n

Resistance level: 0.6660, 0.6720<\/p>\n

Support level: 0.6600, 0.6540<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded lower following prior breakout below the previous support level at 1.3200. MACD which illustrated bearish momentum suggest the pair to extend its losses toward support level at 1.3140.<\/p>\n

 <\/p>\n

Resistance level: 1.3200, 1.3265<\/p>\n

Support level: 1.3140, 1.3065<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following prior retracement from the resistance level at 0.9870. 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: 0.9870, 0.9900<\/p>\n

Support level: 0.9840, 0.9810<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, Daily: <\/strong>Crude oil price was traded higher following prior breakout above the previous resistance level at 58.85. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 60.70, 62.00<\/p>\n

Support level: 58.85, 57.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following prior retracement from the resistance level at 1473.80. MACD which illustrated diminishing bullish momentum suggest the commodity to extend its losses toward support level at 1461.50.<\/p>\n

 <\/p>\n

Resistance level: 1473.80, 1484.25<\/p>\n

Support level: 1461.50, 1451.35<\/p>\n

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

13 December 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 Morning Session Analysis Dollar index surged amid trade optimism Dollar index which gauge its value against a basket of six major currencies jumped to a near two-week high yesterday amid to positive trade deal prospect between U.S. and China. President U.S Donald Trump yesterday wrote in his official Twitter account that: \u201cGetting […]<\/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\/92561"}],"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=92561"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/92561\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=92561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=92561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=92561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}