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BTCUSD, EURUSD and GBPUSD Forecasts, February 27, 2020
BTCUSD, EURUSD and GBPUSD Forecasts, February 27, 2020
Posted

By - Jamel Lahiani

Posted - 27-02-2020
  • The BTCUSD is bearish volatile at short term. Sell
  • The EURUSD is bullish volatile at short term. Buy
  • 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.

BTCUSD

FOREX Market Insights
Yesterday, the downward movement of the international stock markets still confirmed within strong
volatility as investors reacted to headlines about coronavirus and sought to gauge its economic fallout. The Bitcoin money was weakened due to investors’ preference for sure assets and money. While the crude oil price was talked to the downside due to the surge of pessimist expectation about the world economic growth and trade.

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

AT 10H30GMT: The UK BoE’s Cunliffe speech

AT 14H30GMT: 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 14H30GMT: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 14H30GMT: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.

BTCUSD

GRAPHIC 1: BTCUSD HOURLY CHART (FEBRAURY 27, 2020)
The BTCUSD chart has a bearish volatile movement inside the colored channel with lower low and lower high movement. The chart failed to breaks the MA14 blue line. It appears that the Bitcoin is more weakened by the Coronavirus outbreak than the US dollar. So, it is expected profitable to sell this pair if a candle closes under the MA14 blue line. Otherwise, if a candle closed above the top of the channel, it is gainful to buy this pair.

BTCUSD

GRAPHIC 2: EURUSD HOURLY CHART (FEBRAURY 27, 2020)
The EURUSD pair has a bullish volatile movement inside the green-colored channel with higher low and higher high movement. A candle closes up to the red resistance line at the level of 1.09096. So, it is expected profitable to buy this pair. While a sell order will be profitable if a candle closes under the MA14 blue line.

BTCUSD

GRAPHIC 3: GBPUSD HOURLY CHART (FEBRAURY 27, 2020)
The GBPUSD pair has a bearish volatile movement between the red resistance line and the green support line. A pullback occurred from the red resistance line. So, it is expected profitable to sell this pair. The sell order will be more profitable if a candle closes under the MA14 blue line. Otherwise, if a candle closes above the red resistance line a buy order will be gainful.

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