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BTCUSD, EURUSD and USDCAD Forecasts, February 19, 2020
BTCUSD, EURUSD and USDCAD Forecasts, February 19, 2020
Posted

By - Jamel Lahiani

Posted - 19-02-2020
  • The BTCUSD is bullish volatile at short term. Sell
  • The EURUSD is bearish volatile at short term. Sell
  • The USDCAD is bearish volatile at short term. Sell

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.

BTCUSD

FOREX Market Insights
Yesterday, the worries about the coronavirus outbreak impacts on global supply chains lead Dow Jones
lower. Concerning currencies, the US dollar continues its rally based on solid statistics data and
appreciates against majors currencies especially the weak Euro.

Today in Focus
Today, we have a high impacts published indicators and events:

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 03H30GMT: 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.

AT 13H30GMT: The Building Permits released by the US Census Bureau, at the Department of Commerce shows the number of permits for new construction projects.

BTCUSD

GRAPHIC 1: BTCUSD HOURLY CHART (FEBRAURY 19, 2020)
The BTCUSD chart has a bullish volatile movement between the red resistance line and the green support line. The first support is located at 9598.17 and the second at 9478.96. Now, a candle has just closed under MA14 line in blue color so, it is expected profitable to sell this pair. Otherwise, if a candle closed above the red resistance line, it is gainful to buy this pair.

BTCUSD

GRAPHIC 2: EURUSD HOURLY CHART (FEBRAURY 19, 2020)
The EURUSD pair has a bearish volatile movement inside the red channel. The chart is going for a lower high and lower low movement. It is expected gainful to sell this pair when a chart pullback from the top limit of the channel. Otherwise, a buy order is expected profitable if a candle closed above the top limit of the channel.

BTCUSD

GRAPHIC 3: USDCAD HOURLY CHART (FEBRAURY 19, 2020)
The USDCAD pair has a bearish volatile movement inside the colored channel. The chart is going for a
lower high and lower low movement with a big candle to the downside that crosses the middle limit of the channel. A data relative to consumer price index core in Canada will be published today. So, it is expected profitable to sell this pair. Otherwise, if a candle closed above the top limit of the channel, the suitable strategy is to buy this pair.

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