{"id":98829,"date":"2020-01-28T03:16:09","date_gmt":"2020-01-28T03:16:09","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=98829"},"modified":"2020-01-28T03:16:09","modified_gmt":"2020-01-28T03:16:09","slug":"280120-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/280120-morning-session-analysis\/","title":{"rendered":"280120 Morning Session Analysis"},"content":{"rendered":"

28 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis<\/strong><\/p>\n

 <\/p>\n

Yen climbs up, coronavirus in focus.<\/strong><\/span><\/p>\n

Greenback experienced some bearish pressure this morning over the backdrop of bearish housing data from the United States. According to US Commerce Department, New Home Sales for the month of December fell by 0.4% to 694,000 units, lower than analysts\u2019 forecast of 730,000 units. Sales of new homes has slipped for its third consecutive month which is likely due to a shortage of affordable homes in the United States. However, many traders believe that US housing market remains supported by lower mortgage rates after Federal Reserve cut interest rates by three times last year. As of writing, the dollar index ticked down 0.03% to 97.66. On the other hand, safe-haven Japanese yen extended its gains following higher concern over China\u2019s coronavirus which may bring possible impact towards its economy. According to The Hill, the coronavirus could have claimed more than 100 lives and infected more than 30,000 individuals within China, significantly higher than official data released by Beijing. Policymakers in China has banned travels and extended the Lunar New Year break in order to prevent further infections domestically and internationally. Analysts\u2019 postulate that consumer spending and tourism business is expected to take a toll, which may further impact China\u2019s economy which has significant signs of slowdown. During Asian trading session, pair of USD\/JPY ticked down 0.01% to 108.97.<\/p>\n

 <\/p>\n

As for commodities market, crude oil price was traded flat near $52.90 per barrel. Oil futures were dumped since last week as fears over economic impact on coronavirus spur speculation of a lower crude oil demand if the pandemic persists. On the other hand, gold price ticked up 0.02% to $1,581.91 a troy ounce due to higher risk aversion in the market over the backdrop of coronavirus pandemic.<\/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
21:30<\/td>\nUSD \u2013 Core Durable Goods Orders (MoM) (Dec)<\/td>\n-0.1%<\/td>\n0.2%<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 CB Consumer Confidence (Jan)<\/td>\n126.5<\/td>\n128.0<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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


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

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following prior retrace from the higher levels. MACD which illustrate diminished upward momentum suggests the index to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 97.90, 98.15<\/p>\n

Support level: 97.65, 97.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower while currently testing at the support of 1.3055. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3135, 1.3200<\/p>\n

Support level: 1.3055, 1.3010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H1: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.1050, 1.1080<\/p>\n

Support level: 1.1005, 1.0990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 109.20, 109.65<\/p>\n

Support level: 108.50, 108.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded lower while currently testing at the support of 0.6750. MACD which illustrate bearish signal suggests the pair to be traded lower after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6790, 0.6840<\/p>\n

Support level: 0.6750, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing at the support of 0.6540. MACD which illustrate bearish signal suggests the pair to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6590, 0.6650<\/p>\n

Support level: 0.6540, 0.6490<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests the pair to extend its gains, towards the direction of 1.3215.<\/p>\n

 <\/p>\n

Resistance level: 1.3215, 1.3275<\/p>\n

Support level: 1.3140, 1.3060<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the pair to extend its gains in short-term.<\/p>\n

 <\/p>\n

Resistance level: 0.9725, 0.9780<\/p>\n

Support level: 0.9670, 0.9615<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded flat near the support of 52.05. MACD which begin to form bullish signal suggest its price to be traded higher in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 54.20, 56.25<\/p>\n

Support level: 52.05, 49.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower while currently testing at the support near 1580.00. MACD which illustrate bearish signal suggests its price to extend its losses after closing below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1598.80, 1615.00<\/p>\n

Support level: 1580.00, 1563.20<\/p>\n","protected":false},"excerpt":{"rendered":"

28 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   Yen climbs up, coronavirus in focus. Greenback experienced some bearish pressure this morning over the backdrop of bearish housing data from the United States. According to US Commerce Department, New Home Sales for the month of December fell by 0.4% to 694,000 units, lower than analysts\u2019 forecast of […]<\/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\/98829"}],"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=98829"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/98829\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=98829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=98829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=98829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}