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BTCUSD, EURUSD and USDCAD Forecasts, December 06, 2019
BTCUSD, EURUSD and USDCAD Forecasts, December 06, 2019
Posted

By - Jamel Lahiani

Posted - 06-12-2019
  • The BTCUSD is bearish volatile at short term. Waiting the nonfarm payrolls
  • The EURUSD is bullish quite at short term. Waiting the nonfarm payrolls
  • The USDCAD is bearish volatile at short term. Waiting the nonfarm payrolls

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.

USDCAD (US Dollar /Canadian Dollar) is a very popular currency pair and represent the exchange rate
of the two neighbor money, the U.S. and Canada.

FOREX Market Insights
Today, we have the nonfarm payrolls days that can have very strong impact to the US dollars and all the
FOREX market, wait and see. The US President Trump said on Thursday that talks with China were “going well” and at 15 December, something could happen regarding tariffs on, “but were not discussing that.». The US published data concerning trade deficit showing amelioration but employment initial claims result was negative. The two elements cited previously leads the US dollar without clear orientation.

Today in Focus
Today, we have a high impact published indicator:

AT 13H30GMT: The employment Change released by the Statistics Canada is a measure of
the change in the number of employed people in Canada.

AT 13H30GMT: The Unemployment Rate released by the Statistics Canada is the number of
unemployed workers divided by the total civilian labor force. It is a leading indicator for the
Canadian Economy.

AT 13H30GMT: The nonfarm payrolls released by the US Bureau of Labor Statistics presents the number of new jobs created during the previous month, in all non-agricultural business.

AT 13H30GMT: The nonfarm payrolls released by the US Bureau of Labor Statistics presents the number of new jobs created during the previous month, in all non-agricultural business.

AT 15H00GMT: The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity.

GRAPHIC 1: BTCUSD HOURLY CHART (DECEMBER 06, 2019)
The BTCUSD pair has a bearish volatile movement inside the colored channel. The pair consolidates
last week by 7.3% but it makes a turning point and goes downside on Monday. It is gainful to wait the
publication of the nonfarm payrolls then decide the entry. If the chart breaks the top limit of the
channel to the upside then a buy order is gainful. If the chart still inside the channel the buy at the
bottom and sell at the top of the channel.

GRAPHIC 2: EURUSD HOURLY CHART (DECEMBER 06, 2019)
The EURUSD pair has a bullish quite movement inside the colored range. It is gainful to wait the
publication of the nonfarm payrolls then decide the entry. If the chart breaks the bottom of the
channel and close to the downside then the bearish movement is very plausible and a sell order will
be expected gainful. If the chart breaks the top of the channel and close to the upside then the
bullish movement is very plausible and a buy order will be expected gainful.

GRAPHIC 3: USDCAD HOURLY CHART (DECEMBER 06, 2019)
The USDCAD pair is bullish volatile inside the colored channel. It is gainful to wait the publication of
the nonfarm payrolls then decide the entry. If the chart breaks the bottom of the channel and
close to the downside then the bearish movement is very plausible and a sell order will be expected
gainful. If the chart breaks the top of the channel and close to the upside then the bullish movement
is very plausible and a buy order will be expected gainful.

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