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.
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
Yesterday, Wall Streets major indexes blooms rally, as strong housing and manufacturing data bolstered
investors confidence in the US economy. For the second week Bitcoin money records a decline with a
strong bearish trend. Today, investor’s eyes on ECB’s President Lagarde speech related to monetary
policy of EU.
Today in Focus
Today, we have a high impact published indicator:
AT 08H30GMT: ECB’s President Lagarde speech.
AT 09H30GMT: The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services.
AT 13H30GMT: Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products.
GRAPHIC 1: BTCUSD HOURLY CHART (DECEMBER 18, 2019)
The BTCUSD pair has a bearish volatile movement and going for lower low and lower high
movement. For the second week Bitcoin money records a decline with a strong bearish trend. It is
gainful to sell this pair near the highest limit of the range, the Stoch RSI indicator is more than 80 and
the red line crosses the blue line.
GRAPHIC 2: EURUSD HOURLY CHART (DECEMBER 18, 2019)
The EURUSD pair has movement inside a disjoint angel. If the chart breaks the red line at the top and
closes to the upside then the bullish movement will be expected strong and it is gainful to buy. If the
chart breaks the green trending line and closes to the downside then a sell order is expected
GRAPHIC 3: USDCAD HOURLY CHART (DECEMBER 18, 2019)
The USDCAD pair has movement inside a disjoint angel. If the chart closes outside the down limit in
green color then a sell order will be expected profitable. If the chart breaks the top limit in red color
and closes to the upside then a buy order will be expected profitable.
Copyright © MMXVI - MMXX. Africa 360 Degrees | African Economics | Business | and Political affairs 360 degrees coverage | Independent | Analysis | Insight | africa360degrees.com. All Rights Reserved.