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 US stock markets rally faces the next test; earnings season are due Tuesday night.
Today in Focus
Today, we have a high impact published indicators:
AT 09H00GMT: The bank lending survey (BLS) for the euro area was launched in 2003. Its main objective is to enhance the Eurosystem’s knowledge of financing conditions in the euro area.
AT 09H30GMT: The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy.
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.
GRAPHIC 1: BTCUSD HOURLY CHART (JANUARY 21, 2020)
The BTCUSD chart has a bearish quite movement and tries to breaks the top limit of the colored channel. It is expected profitable to buy this pair if the chart closes above the red line at the top.
Otherwise, if the chart pullback and closes under the red line, it is gainful to sell this pair.
GRAPHIC 2: EURUSD HOURLY CHART (JANUARY 21, 2020)
The EURUSD pair has a ranging volatile movement. The chart has resistance at the top of the range and tries to breaks the MA14 to the downside. If it closes under MA14 then a sell order will be expected profitable. Otherwise, if the chart closes above the top limit of the range, it is gainful to buy this pair.
GRAPHIC 3: GBPUSD HOURLY CHART (JANUARY 21, 2020)
The GBPUSD pair has a bullish quite movement inside the colored channel. The chart following a higher high and higher low movement and it breaks MA14 for two times. So, it is interesting to sell this pair if it breaks the support line in green color. Otherwise, it is expected profitable to buy this pair if the chart closes over the red resistance line at the top.
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