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 former Vice President Joe Bidens won of the Super Tuesday Democratic primary contests leads a
dose of confidence for the investors and an upbeat of the stock markets.
Today in Focus
Today, we have a high impacts published indicators and events:
AT 13H30GMT: 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 17H00GMT: The UK BoE’s Governor Carney speech.
AT 17H45GMT: The Canadian BoC’s Governor Poloz speech.
GRAPHIC 1: GBPUSD HOURLY CHART (MARCH 05, 2020)
The BTCUSD chart has a bullish volatile movement between the red resistance line at the top and the
green support line. The chart tries to breaks the green support line to the downside. So, it is expected
profitable to sell this pair if a candle closes under the green support line. Otherwise, if a candle closed over the red resistance line, the upward movement returns powerfully.
GRAPHIC 2: GBPUSD HOURLY CHART (MARCH 05, 2020)
The EURUSD chart has a bullish volatile movement between the red resistance line at the top and the
green support line at 1.12211 levels. The MA14 blue line becomes decreasing with a candle trying to breaks the green support line. So, it is expected profitable to sell this pair if a candle closes under the
green support line. While a buy order will be profitable if the Stoch RSI indicator is less than 20 and the blue line crosses the red line.
GRAPHIC 3: GBPUSD HOURLY CHART (MARCH 05, 2020)
The GBPUSD chart has a bullish volatile movement inside the green channel with a higher high movement. If the Stoch RSI indicator is less than 20 and the blue line crosses the red line it is expected profitable to buy this pair. Otherwise, if a candle closes under MA14 the suitable decision is to sell this pair.
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