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BTCUSD, EURUSD and GBPUSD Forecasts, February 18, 2020
BTCUSD, EURUSD and GBPUSD Forecasts, February 18, 2020
Posted

By - Jamel Lahiani

Posted - 18-02-2020
  • The BTCUSD is bullish quit at short term. Buy
  • The EURUSD is bearish volatile at short term. Sell
  • The GBPUSD is bearish quit 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.

USD

FOREX Market Insights
The Euro is under pressure to depreciate against its major counterparts such as the US Dollar, Japanese Yen, and British Pound. The downtrend is explained by psychological effects associated with the coronavirus outbreak that present many risks for the European Union especially the interruption to supply chains and the negative effect on the trade and tourism.

Other factors like the protectionism and vulnerabilities in emerging markets could weaken the economic conditions around the world.

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

AT 09H30GMT: The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force.

AT 10H00GMT: The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic.

USD

GRAPHIC 1: BTCUSD HOURLY CHART (FEBRAURY 18, 2020)
The BTCUSD chart has a bullish quit movement between the green support line and the red resistance line. The chart is moving above MA14 in blue color, showing a strong uptrend with a higher low and higher high movement. It is expected profitable to buy this pair if a candle closes above the red resistance line. Otherwise, if a candle closed under the green support line, it is gainful to sell this pair.

USD

GRAPHIC 2: EURUSD HOURLY CHART (FEBRAURY 18, 2020)
The EURUSD pair has a bearish volatile movement under the red resistance line. The chart is going for a lower high and lower low movement. It is expected gainful to sell this pair when the Stoch RSI indicator is more than 80 and the red line crosses the blue line or if a candle closes under MA14 in blue color. Otherwise, a buy order is expected profitable if a candle closed above the red resistance line.

USD

GRAPHIC 3: GBPUSD HOURLY CHART (FEBRAURY 18, 2020)
The GBPUSD pair has a bearish quit movement between the red resistance line and the green support line. The chart is going for a lower high and lower low movement. It is gainful to sell this pair if a candle closed under the green support line. Otherwise, it is expected profitable to buy this pair if a candle closes above the red resistance line.

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