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BTCUSD – EURUSD – USDJPY – Forecasts April 02, 2020
BTCUSD – EURUSD – USDJPY – Forecasts April 02, 2020
Posted

By - Jamel Lahiani

Posted - 02-04-2020
  • The BTCUSD is ranging volatile at short term. Sell
  • The EURUSD is ranging volatile at short term. Sell
  • The USDJPY is ranging volatile at short term. Buy

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. USDJPY (US Dollar / JAPANESE YEN) is one of the most traded pairs in the world. The relative value of these currencies is mostly affected by the interest rate differential between the Federal Reserve and the Bank of Japan.

USD

FOREX Market Insights
Yesterday, The US stocks indexes fell more than 4 percent after a dire warning on the US death toll from the coronavirus urged investors going out of risky investments, leading a negative impact to the Chinese and European stocks. The currency market becomes ranging as incertitude and risks increase around the world.

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

AT 12H30GMT: The Trade Balance released by the Bureau of Economic Analysis and the U.S. Census Bureau is a balance between exports and imports of total goods and services.

AT 12H30GMT: 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.

AT 12H30GMT: This indicator measures the average number for the last four releases of the Initial Jobless Claims, which are released every Thursday.

USD

GRAPHIC 1: BTCUSD HOURLY CHART (APRIL 02, 2020)
OPEN PRICE: 6666.98  SUPPORT: 6161.12 RESISTANCE: 6776.89
The BTCUSD chart has a ranging volatile movement between the green support line and the red resistance line. The chart moves above MA14 blue line and going for higher low movement. It is expected profitable to sell this pair if a pullback occurred from the red resistance line. If a pullback occurred from the green support line then it is expected profitable to buy this pair. Otherwise, if a candle closed outside of the range then we have just to follow the market trend.

USD

GRAPHIC 2: EURUSD HOURLY CHART (APRIL 02, 2020)
OPEN PRICE: 1.09608  SUPPORT: 1.09026  RESISTANCE: 1. 10332
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 the existence of a pine bar. So, it is expected profitable to sell this pair. If a pullback occurred from the green support line then it is expected profitable to buy this pair. Otherwise, if a candle closed outside of the range then we have just to follow the market trend.

USD

GRAPHIC 3: USDJPY HOURLY CHART (APRIL 02, 2020)
OPEN PRICE: 107.159  SUPPORT: 106.998  RESISTANCE: 107.935
The USDJPY chart has a ranging volatile movement between the green support line and the red resistance line. The chart moves around MA14 blue line with the existence of a two pine bar to the upside. It is expected profitable to sell this pair if a pullback occurred from the red resistance line. If a pullback occurred from the green support line then it is expected profitable to buy this pair. Otherwise, if a candle closed outside of the range then we have just to follow the market trend.