By - Jamel Lahiani
Today our analysis will be concerned with:
(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.
(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.
XAUUSD (Gold /US Dollar) is widely followed by traders around the world, it measures the Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
FOREX Market Insights
Yesterday, the Dow Jones Industrial Average and NASDAQ realized important gains respectively 0.68% and 1.32%. The sentiments of investors concerning US dollar is up as signs pointed to progress between the US and China on a trade truce.
Today in Focus
Today, we have a high impact published indicators:
AT 09H00GMT: The US Goods Trade Balance released by the US Bureau of Economic Analysis and the U.S. Census Bureau is the difference in value between imported and exported goods during a certain month.
AT 09H30GMT: The US Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity.
AT 13H30GMT: The US number of New Home Sales released by the US Census Bureau is an important measure of housing market conditions.
The BTCUSD pair is ranging volatile and moving between the two blue limits. It is gainful to sell this pair near the highest blue limit and the Stoch RSI indicator is more than 80 or to buy this pair near the lowest blue limit and the Stoch RSI indicator is less than 20.
The EURUSD pair has a bearish volatile movement inside the colored channel. The pair has a support at the green line at level of 1.10045. If the chart breaks the MA14 and goes to the downside; a Sell order is expected to be profitable. If the chart breaks the bottom of the channel to the downside then the downside movement will be strong. If the chart breaks the top of the channel and close to the upside then the bearish movement is finished and the uptrend is very plausible.
The XAUUSD pair has a bearish volatile movement inside the colored channel. In fact, the USA dollar has gained confidence of investors as signs pointed to progress between the US and China on a trade truce. We can see the existence of lower high and lower low movement. If the chart breaks the green support line at level of 1451.999 and close to the downside then a sell entry will be expected profitable.
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