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’s 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, Wall Street main indexes closed at record levels for a third straight day. The investors still optimistic about a resolution of US-China trade tensions leading the US dollar to consolidation and going stronger face to the others currencies.
Today in Focus
Today, we have a high and medium impact published indicators:
AT 13H00GMT: HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonized across all EU member states.
AT 13H30GMT: The current account, released by Statistics Canada, is a net flow of current transactions, including goods, services and interest payments into and out of Canada.
GRAPHIC 1: BTCUSD HOURLY CHART (NOVEMBER 28, 2019)
The BTCUSD pair has a bullish volatile movement inside the colored channel. The pair decline last week by -18.72% and it returned to consolidate yesterday. It is gainful to sell this pair near the highest limit of the channel and the Stoch RSI indicator is more than 80 or if the chart crosses MA14 to the downside.
GRAPHIC 2: EURUSD HOURLY CHART (NOVEMBER 28, 2019)
The EURUSD pair has a bearish volatile movement inside the colored channel and has a resistance at the level of 1.10129. Today the pair is waiting for very important publications from Germany concerning the index of consumer prices. If the chart breaks the top of the channel to the upside then the upside movement will be strong and it is gainful to buy. If the chart breaks the bottom of the channel and close to the downside then the bearish movement continued and the downtrend is very plausible.
GRAPHIC 3: XAUUSD HOURLY CHART (NOVEMBER 28, 2019)
The XAUUSD pair is trending bearish volatile 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. If the chart is at the top of the channel and breaks the MA14 and close to the downside then a sell entry will be expected profitable.
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