Please wait while we get your page ...

BTCUSD, EURUSD and WTI Crude Oil Forecasts, March 12, 2020
BTCUSD, EURUSD and WTI Crude Oil Forecasts, March 12, 2020
Posted

By - Jamel Lahiani

Posted - 12-03-2020
  • The BTCUSD is bearish volatile at short term. Sell
  • The EURUSD is bullish volatile at short term. Buy
  • The WTI (Crude Oil) is bearish volatile at short term. Sell

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. WTI Crude Oil (WTI /US Dollar) is the United States’ WTI (West Texas Intermediate) crude oil price measured in US dollar. The demand for crude oil is dependent on global economic conditions as well as market speculation.

USD

FOREX Market Insights
The WHO called the coronavirus outbreak a pandemic causing a huge decline in the international stock
markets. the Dow confirming a bear market for the first time since the financial crisis while the crude oil
price continues to fall with a bid exceeding largely the demand.

Today in Focus
Today, we have a high impact published indicators and events:

AT12H30GMT: The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.

AT13H30GMT: Following the ECB ́s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend.

USD

GRAPHIC 1: BTCUSD HOURLY CHART (MARCH 12, 2020)
The BTCUSD chart has a bearish volatile movement inside the red channel. The chart is moving down
to MA14 blue line with resistance at the level of 7353.2. It is expected profitable to sell this pair if a candle closes down to the red resistance line. The BTC is more weakened by coronavirus outbreak than the US dollar because it is virtual money and investors prefer sure equities and money.

USD

GRAPHIC 2: EURUSD HOURLY CHART (MARCH 12, 2020)
The EURUSD chart has a bullish volatile movement between the red resistance line and the green
support line. The chart moves now above the MA14 blue line and tries to breakout the red resistance
line three times. So, a buy order will be profitable if a candle breaks the red resistance line and closes
to the upside. While a sell order will be profitable if a candle closes under the green support line.

USD

GRAPHIC 3: WTI (CRUDE OIL) HOURLY CHART (MARCH 12, 2020)
The WTI (Crude Oil) chart has a bearish volatile movement inside the red-colored channel. We have a
candle trying to pullback from the half limit of the channel to the downside. If the candle closes under the half limit of the channel then a sell order will be expected profitable. In fact, amid the coronavirus crisis the international demand for crude oil decline because the world economic growth decreases.