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Bitcoin – USD Forecasts, March 26, 2020
Bitcoin – USD Forecasts, March 26, 2020
Posted

By - Jamel Lahiani

Posted - 26-03-2020
  • The Bitcoin/USD is ranging volatile at short term. Buy
  • The Euro/USD is ranging volatile at short term. Buy
  • The GBP/USD 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.

FOREX Market Insights
The US stocks rallied for a second straight session on Wednesday as the US Senate appeared near a vote
on a $2 trillion package to support businesses and households devastated by the coronavirus pandemic.
That’s why China and European stocks bloom also on Wednesday.

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

AT 13H00GMT: The Monetary Policy Summary, released by BOE, contains the outcome of their vote on interest rates and other policy measures.

AT 13H30GMT: 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 13H30GMT: The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time.

AT 13H30GMT: The Goods Trade Balance released by the US Bureau of Economic Analysis and the U.S. Census Bureau.

USD

GRAPHIC 1: BTCUSD HOURLY CHART (MARCH 26, 2020)
OPEN PRICE: 6694.10  SUPPORT: 6473.46  RESISTANCE: 6978.43
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 fluctuating around it. It is expected profitable to buy this pair if a candle pullback from the green support line to the upside. If a candle pullback from the red resistance line to the downside then a sell order will be profitable. If a candle closes outside of the range then just follow the trend.

USD

GRAPHIC 2: EURUSD HOURLY CHART (MARCH 26, 2020)
OPEN PRICE: 1.08821  SUPPORT: 1.06368  RESISTANCE: 1.12255
The EURUSD chart has a ranging volatile movement between the green support line and the red
resistance line. The chart is going to cross MA14 blue line to the upside. It is expected profitable to sell this pair if a pullback occurred from the red resistance line to the downside. If a pullback occurred at the bottom from the green support line to the upside then a buy order is expected profitable. If a candle closes outside of the range then just follow the trend.

USD

GRAPHIC 3: GBPUSD HOURLY CHART (MARCH 26, 2020)
OPEN PRICE: 1.19701  SUPPORT: 1.16394  RESISTANCE: 1.19131
The GBPUSD chart has a ranging volatile movement between the green support line and the red
resistance line. The chart is fluctuating around MA14 blue line with a green big candle. It is expected
profitable to sell this pair if a pullback occurred from the red resistance line. If a candle closes above
the red resistance line then a buy order will be more profitable.

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