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BTCUSD, EURUSD and USDCAD Forecasts, January 10, 2020
BTCUSD, EURUSD and USDCAD Forecasts, January 10, 2020
Posted

By - Jamel Lahiani

Posted - 10-01-2020
  • The BTCUSD is bearish quite at short term. Wait and see the nonfarm payrolls
  • The EURUSD is ranging quite at short term. Wait and see the nonfarm payrolls
  • The USDCAD is bearish quite at short term. Wait and see 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
Yesterday, US stocks ended higher on Tuesday as optimism about the US-China trade deal confirmed.
The end of worries coming from Middle East tensions leading a downward movement of the crude oil
prices. The market is waiting for the nonfarm payrolls that could have a strong impact to the market.

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

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 employment Change released by the Statistics Canada is a measure of the change in the number of employed people in Canada.

AT 13H30GMT: The Average Hourly Earnings released by the US Bureau of Labor Statistics is a significant indicator of labor cost inflation and of the tightness of labor markets.

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.

GRAPHIC 1: BTCUSD HOURLY CHART (JANUARY 10, 2020)
The BTCUSD pair has a bearish quite movement. The chart is moving below the MA14 and going for
lower high and lower low movement. It is expected profitable to sell this pair. Otherwise, if the chart
breaks MA14 line in blue color and closes to the upside It is gainful to buy this pair.

GRAPHIC 2: EURUSD HOURLY CHART (JANUARY 10, 2020)
The EURUSD pair has a ranging quite. The publication of the nonfarm payrolls at 13H30 GMT could lead to a strong trend associated with a highly volatile market. Just wait and see and follow the
direction of the limit break.

GRAPHIC 3: USDCAD HOURLY CHART (JANUARY 10, 2020)
The USDCAD pair moves inside a disjoint angel. The publication of the nonfarm payrolls at 13H30 GMT could lead to a strong trend associated with a highly volatile market. Just wait and see and follow the direction of the limit break.

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