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BTCUSD, EURUSD and USDJPY Forecasts, January 14, 2020
BTCUSD, EURUSD and USDJPY Forecasts, January 14, 2020
Posted

By - Jamel Lahiani

Posted - 14-01-2020
  • The BTCUSD is bullish quite at short term. Buy
  • The EURUSD is bullish quite at short term. Sell
  • The USDJPY 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. 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
Wall Street bloomed on Monday, fuelled by optimism about the signing of a preliminary US-China trade
deal. Today, the Current Account was published by the Japanese Ministry of Finance showing a significant increase and supporting the Japanese Yen against the other currencies.

Today in Focus
Today, we have a high impact published indicator:
AT 13H30GMT: The US Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services.

GRAPHIC 1: BTCUSD HOURLY CHART (JANUARY 14, 2020)
The BTCUSD pair has a bullish quite movement and finding resistance at the red line level of 8543.88.
The chart is moving above the MA14 and going for higher high and higher low movement. It is expected profitable to buy this pair if the chart closes above the red resistance line. Otherwise, if the chart breaks the green support line and closes under, it is gainful to sell this pair.

GRAPHIC 2: EURUSD HOURLY CHART (JANUARY 14, 2020)
The EURUSD pair has a bullish quite movement inside the colored channel and finding resistance at
the red line level of 1.11443. The chart has a higher high and higher low movement. It is expected profitable to buy this pair if the chart closes above the red resistance line. Otherwise, if the chart breaks the bottom of the channel and closes under, it is gainful to sell this pair.

GRAPHIC 3: USDJPY HOURLY CHART (JANUARY 14, 2020)
The USDJPY pair moves inside a disjoint angel. Today, the publication of the Japanese current account was well seen by the market. This exerts a pressure to downward movement of the chart and the appreciation of the Japanese Yen. If the chart breaks the support line in green color and closes under, it is gainful to sell this pair. Otherwise, it is expected profitable to buy this pair if the chart closes above the red resistance line.

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