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. 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.
FOREX Market Insights
Yesterday, major US stocks indexes declined as a results of investors caution persisted amid the US-Iran
standoff, and energy shares fell as oil prices stopped up rally and consolidating around 62$.
Today in Focus
Today, we have a high impact published indicator:
AT 10H00GMT: 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.
GRAPHIC 1: BTCUSD HOURLY CHART (JANUARY 08, 2020)
The BTCUSD pair has a bullish volatile movement and has a support at the level of 7685.94. The chart is moving belong the MA14 and confirming the bullish up trend. It is gainful to buy this pair if it is close to MA14 in blue line color. If the pair crosses the MA14 and closes to the downside then a sell order will be expected profitable.
GRAPHIC 2: EURUSD HOURLY CHART (JANUARY 08, 2020)
The EURUSD pair has a bearish volatile movement inside the colored channel. The pair is going for lower low and lower high movement. The first resistance line is at the level of 1.12045. The chart is down to MA14 leading to a plausible movement to the downside. Then, it is expected gainful to sell this pair.
GRAPHIC 3: WTI CRUDE OIL HOURLY CHART (JANUARY 08, 2020)
The Crude Oil has bullish volatile movement and closes up to the blue color first resistance but failed
to breaks the second resistance line in red color. Now, it has a pullback movement to the initial zone below to the blue line. It is gainful to by this pair if the chart closes up to the MA14.
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