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, the US stocks fall as China extended the Lunar New Year holiday due to a virus outbreak leading a struggling international economic environment roiled by worries and incertitudes about the
Today in Focus
Today, we have a high impact published indicators:
AT 13H30GMT: The Durable Goods Orders, released by the US Census Bureau, measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances.
AT 15H00GMT: The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity.
GRAPHIC 1: BTCUSD HOURLY CHART (JANUARY 28, 2020)
The BTCUSD chart has a bullish quite movement with resistance at the level of 9160.87. The chart tries to breaks MA14 to the downside. It is expected profitable to sell this pair if the chart closes to the downside of MA14 in blue color. Otherwise, if the chart breaks the first red resistance line and closes to the upside, it is gainful to buy this pair. If the chart breaks the second red resistance line then we have a strong uptrend.
GRAPHIC 2: EURUSD HOURLY CHART (JANUARY 28, 2020)
The EURUSD pair has a bearish quite movement and going for lower high and lower low movement. The chart moves near the top of the channel. A sell order is expected profitable if the chart closes down to MA14 in blue color. Otherwise, if the chart closes above the top limit of the channel, it is expected gainful to buy this pair.
GRAPHIC 3: WTI CRUDE OIL HOURLY CHART (JANUARY 28, 2020)
The WTI Crude Oil pair has a bearish volatile movement between the green support limit and the red
resistance limit. It is expected profitable to sell this pair if the chart breaks MA14 in blue color and closes to the downside. Otherwise, if the chart closes above to the red resistance line the suitable strategy is to buy because we have a plausible uptrend.
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