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BTCUSD, EURUSD, Crude Oil – Forecasts April 14, 2020
BTCUSD, EURUSD, Crude Oil – Forecasts April 14, 2020
Posted

By - Jamel Lahiani

Posted - 14-04-2020
  • The BTCUSD is ranging volatile at short term. Sell
  • The EURUSD is ranging volatile at short term. Buy
  • The Crude Oil WTI is ranging 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. WTI Crude oil (WTI /US Dollar) is the United States’ WTI (West Texas Intermediate) crude oil price measured in US dollar. The demand for crude oil is dependent on global economic conditions as well as market speculation.

Bitcoin

FOREX Market Insights
The US stocks fell on Monday as US companies quarterly earnings season is expected to be rough due to the coronavirus pandemic. The New York governor Andrew Cuomo helped to ease some investor concerns on Monday. He said that ‘the worst is over’, adding that he would announce a coordinated plan on reopening businesses. The Aggressive US monetary and fiscal stimulus have helped stocks and the US dollar to recover recently from their dramatic sell-off tied to the pandemic.

Today in Focus
Today, we have a medium impact published indicator:
AT 12H30GMT: The Import Price Index released by the US Department of Labor informs the changes in the price of imported products into the US.

Bitcoin

GRAPHIC 1: BTCUSD HOURLY CHART (APRIL 14, 2020)
OPEN PRICE: 6863.10 SUPPORT: 6563.05 RESISTANCE: 7154.44
The BTCUSD chart has a ranging volatile movement between the green support line and the red resistance line. A chart has just closed under the MA14 blue line showing a downward movement. The Stock RSI red line crosses the blue line to the downside from 80 levels, so it is expected profitable to sell Bitcoin. Otherwise, if a candle closes above the red resistance line at the top then it is profitable to buy this pair.

Bitcoin

GRAPHIC 2: EURUSD HOURLY CHART (APRIL 14, 2020)
OPEN PRICE: 1.09053 SUPPORT: 1.08906 RESISTANCE: 1.09680
The EURUSD chart has a ranging volatile movement between the green support line and the red resistance line. The chart finds resistance to cross MA14 blue line to the downside. While the Stock RSI red line crosses the blue line to the downside from 80 levels. So, it is will be better to buy this pair if a candle pullback from the green support line at the bottom. If a pullback occurred from the red resistance line at the top then a sell order will be expected profitable.

Bitcoin

GRAPHIC 3: CRUDE OIL WTI HOURLY CHART (APRIL 14, 2020)
OPEN PRICE: 22.383 SUPPORT: 21.976 RESISTANCE: 24.499
The crude oil WTI chart has a ranging volatile movement between the green support line and the red resistance line. A chart has just closed under the MA14 blue line showing a downward movement. While the Stock RSI red line crosses the blue line to the downside from 80 levels. So, it is expected profitable to buy this pair if a candle pullback from the green support line at the bottom. If a pullback occurred from the red resistance line at the top then a sell order will be expected profitable.

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