Please wait while we get your page ...

BTCUSD, EURUSD and USDCAD Forecasts, February 21, 2020
BTCUSD, EURUSD and USDCAD Forecasts, February 21, 2020
Posted

By - Jamel Lahiani

Posted - 21-02-2020
  • The BTCUSD is ranging volatile at short term. Buy
  • The EURUSD is bearish volatile at short term. Sell
  • The USDCAD is bullish 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.

USD

FOREX Market Insights
Yesterday, the US dollar continues blooming amid an upbeat economy and coronavirus headlines. On the other hand, the US stocks fell, led by worries of coronavirus propagation and its impact on the global
economy especially China and its neighbor’s countries. The eyes today are to The PMI monthly Composite Reports on Manufacturing and Services of the European Union.

Today in Focus
Today, we have a high and low impact published indicators and events:
AT 09H00GMT: The PMI monthly Composite Reports on Manufacturing and Services, released by Markit Economics, are based on a large number of business executives in private sector manufacturing and services companies.

AT 09H30GMT: The PMI service released by both the Chartered Institute of Purchasing & Supply and the Markit Economics is an indicator of the economic situation in the UK services sector.

AT 13H30GMT: The Retail Sales released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes.

AT 15H00GMT: The Existing Home Sales, released by the National Association of Realtors provide an estimated value of housing market conditions.

USD

GRAPHIC 1: BTCUSD HOURLY CHART (FEBRAURY 21, 2020)
The BTCUSD chart has a ranging volatile movement between the red resistance line and the green support line. It is expected profitable to sell this pair if a candle pullback from the red resistance line
at the top. Otherwise, if a candle closes above the red resistance line at the top a buy order will be expected profitable.

USD

GRAPHIC 2: EURUSD HOURLY CHART (FEBRAURY 21, 2020)
The EURUSD pair has a bearish volatile movement between the red resistance line and the green support line. The chart failed three times to reverse the downtrend It is expected gainful to sell this pair when a candle pullback from the red resistance line, the Stoch RSI indicator is more than 80 and the red line crosses the blue line. Otherwise, a buy order is expected profitable if a candle closed under MA14 line in blue color.

USD

GRAPHIC 3: USDCAD HOURLY CHART (FEBRAURY 21, 2020)
The USDCAD pair has a bullish volatile movement. The chart is going for a higher low movement and
looking a resistance at 1.32686 levels. If a candle closed above MA14 in blue color, the suitable strategy is to buy this pair. Otherwise, it is expected profitable to sell this pair if a candle pullback from the red resistance line.

guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x