By - Jamel Lahiani
Today our analysis will be concerned with:
BTCUSD (Bitcoin /US Dollar) the most popular cryptocurrency in the world exchanged to the US dollar. Bitcoin price grew significantly within a short period of time making the BTC/USD pair quite popular among active traders and investors.
EURUSD (Euro /US Dollar) is the most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999. GBPUSD (British Pound /US Dollar) is the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world.
FOREX Market Insights
The Dow Jones Industrial Average jumped higher than its strongest three days in nine decades on Thursday as record weekly US jobless claims isn’t considered catastrophic for investors in the hope of the approval of the unprecedented $2 trillion stimulus today by the US House of Representatives.
Chinese shares settled lower on Thursday as investors took profits after two days of strong gains, and
high risks of the second phase of coronavirus outbreak. While the European stocks closed higher on
Thursday, tracking gains on Wall Street, and waiting for a vote by EU politicians on emergency funds to
cushion the blow from the coronavirus outbreak. Otherwise, the Bitcoin money consolidates amid a worries decline following international engagement to support economics activities.
Today in Focus
Today, we have a high impact published indicators and events:
AT 15H00GMT: The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity.
AT 15H00GMT: After the US Senate passing the Coronavirus relief stimulus package worth $2 trillion, the House of Representatives is set to vote on it. Some meaningful changes might be applied on the bill before its approval.
GRAPHIC 1: BTCUSD HOURLY CHART (MARCH 27, 2020)
OPEN PRICE: 6699.51 SUPPORT: 6468.30 RESISTANCE: 6977.24
The BTCUSD chart has a ranging volatile movement between the green support line and the red resistance line. The chart is moving under the MA14 blue line and to breakout it to the upside. It is expected profitable to buy this pair if a candle closes above the MA14 blue line. If a pullback occurred
from the MA14 blue line to the downside then a sell order will be expected profitable.
GRAPHIC 2: EURUSD HOURLY CHART (MARCH 27, 2020)
OPEN PRICE: 1.10303 SUPPORT: 1.07819 RESISTANCE: 1.10854
The EURUSD chart has a bullish volatile movement inside the green-colored channel. The chart breaks the bottom of the channel and MA14 blue line to the downside. It is expected profitable to sell this pair if a candle closes under the bottom of the channel. If a candle closes above the bottom limit of the channel then a buy order will be expected profitable.
GRAPHIC 3: GBPUSD HOURLY CHART (MARCH 27, 2020)
OPEN PRICE: 1.22000 SUPPORT: 1.17800 RESISTANCE: 1.24191
The GBPUSD chart has a bullish volatile movement inside the green-colored channel. The chart tries
to breaks the bottom of the channel and MA14 blue line to the downside. It is expected profitable to
sell this pair if a candle closes under the bottom of the channel. If a pullback occurred at the bottom
of the channel to the upside then a buy order will be expected profitable.
Copyright © MMXVI - MMXX. Africa 360 Degrees | African Economics | Business | and Political affairs 360 degrees coverage | Independent | Analysis | Insight | africa360degrees.com. All Rights Reserved.