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BTCUSD, EURUSD and USDZAR Forecasts, February 12, 2020
BTCUSD, EURUSD and USDZAR Forecasts, February 12, 2020
Posted

By - Jamel Lahiani

Posted - 12-02-2020
  • The BTCUSD is bullish quit at short term. Buy
  • The EURUSD is bearish quit at short term. Sell
  • The USDZAR is bearish quit 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. USDZAR (US Dollar / South African Rand) the Rand is the South Africa money from 1950. After the apartheid era sanctions the Rand experienced a great deal of volatility and depreciation.

BTCUSD

FOREX Market Insights
The international markets return to confidence as Chinese officials said the deadly coronavirus epidemic
could be contained by April. So, the business activities returned progressively, that will gives a pulse to
the US dollar.

Today in Focus
Today, we have a high and Medium impact published indicators and events:

AT 10H00GMT: The Industrial Production is released by the Eurostat. It shows the volume of production of Industries such as factories and manufacturing.

AT 15H00GMT: Federal Reserve Chair Jerome Powell testifies before Congress, providing a broad overview of the economy and monetary policy. Powell’s prepared remarks are published ahead of the appearance on Capitol Hill.

BTCUSD

GRAPHIC 1: BTCUSD HOURLY CHART (FEBRAURY 12, 2020)
The BTCUSD chart has a bullish quit movement between the red resistance line and the green support line. The chart is moving above MA14. It is expected profitable to sell this pair if a candle closed under the green support line at the level of 10375.32. Otherwise, if a candle closed above the red resistance line, it is gainful to buy this pair.

BTCUSD

GRAPHIC 2: EURUSD HOURLY CHART (FEBRAURY 12, 2020)
The EURUSD pair has a bearish quit movement inside the red channel. The chart is going for a lower
high and finding support at the green line at 1.09025 levels. 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. The downtrend becomes strong if a candle closed under the green support line Otherwise, a buy order is expected profitable if a candle closed above the top limit of the channel.

BTCUSD

GRAPHIC 3: USDZAR HOURLY CHART (FEBRAURY 12, 2020)
The USDZAR pair has a bearish quit movement. The chart is going for a lower high and lower low
movement. 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 a candle closed above MA14 in blue color, the suitable
strategy is to buy this pair.

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