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 closed with tight variations while the US Senate goes on for Trump’s
Today in Focus
Today, we have a high impact published indicators:
AT 13H00GMT: Following the ECB ́s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend.
AT 13H30GMT: The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.
GRAPHIC 1: BTCUSD HOURLY CHART (JANUARY 23, 2020)
The BTCUSD chart has a bearish volatile movement and fails three times to breaks the support line in
green color. It is expected profitable to buy this pair if the chart pullback from the support line in
green color. Otherwise, if the chart breaks the green support line and closes down, it is gainful to sell
GRAPHIC 2: EURUSD HOURLY CHART (JANUARY 23, 2020)
The EURUSD pair has a bearish volatile movement and has support at the green line level of 1.10763.
The chart has failed to breaks the resistance red line and now it moves down to MA14 in blue color. A sell order is expected profitable if the chart pullback from the MA14 line and closes to the downside. Otherwise, if the chart closes above the red resistance line at the top, it is expected gainful to buy this pair.
GRAPHIC 3: USDJPY HOURLY CHART (JANUARY 23, 2020)
The USDJPY pair has a bearish quite movement inside the red-colored channel. The pair has a resistance line in red color at the top of the graphic and breaks the green support line at 109.761 and closed to the downside. The chart following a lower high and lower low movement. It is expected profitable to sell this pair if the chart is near the top limit of the channel. Otherwise, if the chart breaks the top limit of the channel and closes to the upside then the uptrend is very plausible and we have to buy this pair.
Copyright © MMXVI - MMXX. Africa 360 Degrees | African Economics | Business | and Political affairs 360 degrees coverage | Independent | Analysis | Insight | africa360degrees.com. All Rights Reserved.