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. USDJPY (US Dollar / JAPANESE YEN) is one of the most traded pairs in the world. The relative value of these currencies is mostly affected by the interest rate differential between the Federal Reserve and the Bank of Japan.
FOREX Market Insights
Yesterday, the US stocks returned to red and falls from record highs as mitigated new coronavirus
developments worry investors.
Today in Focus
Today, we have a high impact published indicators and events:
AT 10H00GMT: The Japanese BoJ’s Amamiya speech.
AT 10H00GMT: The EU Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone.
AT 13H30GMT: The US retail Sales released by the US Census Bureau measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales.
GRAPHIC 1: BTCUSD HOURLY CHART (FEBRAURY 14, 2020)
The BTCUSD chart has a bearish quit movement between the green support line at 10121.59 level and the red resistance line in red color. The chart is moving under MA14 in blue color. It is expected profitable to buy this pair if the Stoch RSI indicator is less than 20 and the blue line crosses the green line. Otherwise, if a candle closed under the green support line, it is gainful to sell this pair.
GRAPHIC 2: EURUSD HOURLY CHART (FEBRAURY 14, 2020)
The EURUSD pair has a bearish volatile movement inside the red colored channel. The chart is going
for a lower high and lower high movement. It is expected gainful to sell this pair when 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 above the top limit of the channel.
GRAPHIC 3: USDJPY HOURLY CHART (FEBRAURY 14, 2020)
The USDJPY pair is moving inside a disjoint channel around MA14 in blue color. It is expected
profitable to sell this pair when the Stoch RSI indicator is more than 80 and the red line crosses the
blue line. Otherwise, if the Stoch RSI indicator is less than 20 and the blue line crosses the red line, a
buy order will be expected profitable.
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