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.
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 weak US manufacturing data and fresh trade worries keep buyers on the sidelines. So, the Dow
Jones and NASDAQ markets a turnover to the downside on Monday, leading the UD dollar weakens face
to the others currencies.
Today in Focus
Today, we have a high impact published indicator:
AT 13H15GMT: The Treasury Committee is appointed by the House of Commons to
examine the expenditure, administration and policy of HM Treasury, HM Revenue &
Customs, and associated public bodies, including the Bank of England and the Financial
GRAPHIC 1: BTCUSD HOURLY CHART (DECEMBER 03, 2019)
The BTCUSD pair has a bearish volatile movement inside the colored channel. The pair consolidates
last week by 7.3% but it makes a turning point and goes downside on Monday. It is gainful to sell this
pair near the highest limit of the channel, the Stoch RSI indicator is more than 80 and the red line
crosses the blue line. If the chart breaks the top limit of the channel and close to the upside, then
there is a return to the uptrend.
GRAPHIC 2: EURUSD HOURLY CHART (DECEMBER 03, 2019)
The EURUSD pair has a ranging quite movement inside the colored range. If the chart breaks the top
of the range and close to the upside then the upside movement will be strong and it is gainful to buy.
If the chart breaks the bottom of the range and close to the downside then the bearish movement to
the downtrend is very plausible.
GRAPHIC 3: GBPUSD HOURLY CHART (DECEMBER 03, 2019)
The GBPUSD pair is bullish volatile inside the colored channel. Today the pair is waiting for very
important publications from the UK treasury committee concerning expenditure. If the chart breaks
the top of the channel and close to the upside then a buy entry will be expected profitable. If the
chart breaks the bottom of the channel and close to the downside then a sell order will be expected
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