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BTCUSD – EURUSD – GBPUSD – Forecasts April 01, 2020
BTCUSD – EURUSD – GBPUSD – Forecasts April 01, 2020
Posted

By - Jamel Lahiani

Posted - 01-04-2020
  • The BTCUSD is ranging volatile at short term. Sell
  • The EURUSD is ranging volatile at short term. Sell
  • The GBPUSD is ranging 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. 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.

Bitcoin

FOREX Market Insights
Yesterday, the US stocks tumbled to historical droop since 1987 due to growing evidence of massive economic damage from the coronavirus pandemic. On the other side, the WTI crude oil price closed at the price of 20.5 with a market characterized by the lack of demand and excessive offers from the crude oil producers.

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

AT 08H55GMT: The Manufacturing Purchasing Managers Index (PMI) released by the Markit economics captures business conditions in the manufacturing sector.

AT 12H15GMT: The Employment Change released by the Automatic Data Processing, Inc, Inc is a measure of the change in the number of employed people in the US.

AT 14H00GMT: The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US.

AT 14H00GMT: The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector, taking into account expectations for future production, new orders, inventories, employment and deliveries.

Bitcoin

GRAPHIC 1: BTCUSD HOURLY CHART (APRIL 01, 2020)
OPEN PRICE: 6425.10  SUPPORT: 5860.56  RESISTANCE: 6633.62
The BTCUSD chart has a ranging volatile movement between the green support line and the red resistance line. The chart moves under MA14 blue line and going for lower low movement showing a profitable sell order. But, if a candle closes above the MA14 blue line it is expected profitable to buy this pair. Otherwise, we have to sell at the top of the range and buy at the bottom of the range.

Bitcoin

GRAPHIC 2: EURUSD HOURLY CHART (APRIL 01, 2020)
OPEN PRICE: 1.10292  SUPPORT: 1.09268  RESISTANCE: 1. 10570
The EURUSD chart has a ranging volatile movement between the green support line and the red resistance line. The chart moves under MA14 blue line with lower high movement showing a profitable sell order. But, if a candle closes above the MA14 blue line it is expected profitable to buy this pair. Otherwise, we have to sell at the top of the range and buy at the bottom of the range.

Bitcoin

GRAPHIC 3: GBPUSD HOURLY CHART (APRIL 01, 2020)
OPEN PRICE: 1.24086  SUPPORT: 1.22404  RESISTANCE: 1.24858
The GBPUSD chart has a ranging volatile movement between the green support line and the red resistance line. The chart moves under the MA14 blue line and going for lower low and lower high movement showing a profitable sell order. But, if a candle closes above the MA14 blue line it is expected profitable to buy this pair. Otherwise, we have to sell at the top of the range and buy at the bottom of the range.