{"id":99041,"date":"2020-01-28T23:55:23","date_gmt":"2020-01-28T23:55:23","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=99041"},"modified":"2020-01-28T23:55:23","modified_gmt":"2020-01-28T23:55:23","slug":"290120-morning-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/290120-morning-session-analysis\/","title":{"rendered":"290120 Morning Session Analysis"},"content":{"rendered":"

29 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

US dollar rose over bullish data.<\/strong><\/span><\/p>\n

US dollar extended its gains against a basket of six major currencies, underpinned by mostly bullish economic data from the United States. According to US Commerce Department, Durable Goods Orders for the month of December rose by 2.4%, significantly higher than forecast of 0.4%. However, its Core Durable Goods Orders which excludes transportation items fell by -0.1%, missing forecast of 0.2% rise. The baseline data was deemed to be \u201cmisleading\u201d as large amount of orders from last month comprises of aircraft defense orders. Nonetheless, Conference Board reported that its Consumer Confidence Index rose to 131.6, significantly higher than forecast for a reading of 128.0. As consumer confidence is the leading indicator of spending, a rise on the index may provide a more bullish take for retail sales in the future. For the time being, US dollar remains firm, hovering near 1 month high prior to the announcement of monetary policy from Federal Reserve\u2019s meeting tomorrow morning. As of writing, the dollar index ticked up 0.01% to 97.71.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price rose 0.01% to $53.92 per barrel. Oil futures snapped its bearish trend after OPEC reportedly to be discussing an extension upon its output cuts until the month of June. Prior, OPEC has agreed last year to extend its output cuts of 1.7 million barrels per day until the end of March in order to curb global oversupply. On the other hand, gold price rose 0.09% to $1,567.21 a troy ounce as trader\u2019s remains anxious over the economical impact of China\u2019s coronavirus outbreak.<\/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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 China\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Spring Festival<\/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

03:00\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 \u00a0FOMC Statement (30th<\/sup>)<\/p>\n

03:30\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 FOMC Press Conference (30th<\/sup>)<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\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
15:00<\/td>\nEUR \u2013 GfK German Consumer Climate (Feb)<\/td>\n9.6<\/td>\n9.6<\/td>\n–<\/td>\n<\/tr>\n
23:00<\/td>\nUSD \u2013 Pending Home Sales (MoM) (Dec)<\/td>\n1.2%<\/td>\n0.5%<\/td>\n–<\/td>\n<\/tr>\n
23:30<\/td>\nCrudeOIL \u2013 Crude Oil Inventories<\/td>\n-0.405M<\/td>\n0.482M<\/td>\n–<\/td>\n<\/tr>\n
03:00 (30th<\/sup>)<\/td>\nUSD \u2013 Fed Interest Rate Decision<\/td>\n1.75%<\/td>\n1.75%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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 97.90. 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 higher following prior rebound from the support of 1.2970. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1.3055, 1.3135<\/p>\n

Support level: 1.2970, 1.2920<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior rebound from the lower level. MACD which has formed bullish signal suggests the pair to be traded higher in short-term.<\/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 lower following prior retrace from 109.20. MACD which illustrate diminished upward momentum suggests the pair to be traded lower 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, H4: <\/strong>AUDUSD 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.<\/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 higher following prior rebound from the lower level. MACD which illustrate diminished downward momentum suggests the pair to be traded higher in short-term.<\/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, H4: <\/strong>USDCAD was traded lower following prior retrace from its higher level. MACD which begin to form bearish signal suggests the pair to be traded lower in short-term as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.3180, 1.3200<\/p>\n

Support level: 1.3140, 1.3100<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.9730, 0.9780<\/p>\n

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

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following prior rebound from the lower level. MACD which illustrate bullish signal suggests 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 following prior retrace from its higher levels. MACD which illustrate bearish signal suggests its price to be traded lower in short-term.<\/p>\n

 <\/p>\n

Resistance level: 1580.00, 1598.80<\/p>\n

Support level: 1562.20, 1553.00<\/p>\n","protected":false},"excerpt":{"rendered":"

29 January 2020\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Morning Session Analysis   US dollar rose over bullish data. US dollar extended its gains against a basket of six major currencies, underpinned by mostly bullish economic data from the United States. According to US Commerce Department, Durable Goods Orders for the month of December rose by 2.4%, significantly higher than forecast […]<\/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\/99041"}],"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=99041"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/99041\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=99041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=99041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=99041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}