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BTCUSD – EURUSD – GBPUSD – Forecasts March 31, 2020
BTCUSD – EURUSD – GBPUSD – Forecasts March 31, 2020
Posted

By - Jamel Lahiani

Posted - 31-03-2020
  • The BTCUSD is ranging volatile at short term. Buy
  • The EURUSD is bearish volatile at short term. Sell
  • The GBPUSD is bearish 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. GBPUSD (British Pound /US Dollar) is the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world.

USD

FOREX Market Insights
Yesterday, the US stocks rose, led mainly by healthcare stocks attracting more investors to profit from efforts to stem the spread of the coronavirus. While China stocks ended lower on Monday, explained by increasing concerns about the impact of coronavirus to the worldwide economic growth.

On the other side, the crude oil prices fall by -6.60 percent at the price of 20.1 due to a lack of demand and excessive offers.

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

AT 09H00GMT: The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone.

AT 14H00GMT: The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity.

USD

GRAPHIC 1: BTCUSD HOURLY CHART (MARCH 31, 2020)
OPEN PRICE: 6406.91  SUPPORT: 5800.98  RESISTANCE: 6694.58
The BTCUSD chart has a ranging volatile movement between the green support line and the red
resistance line. The chart is fluctuating around MA14 blue line. It is expected profitable to buy this pair if a candle pullback from the green support line at the bottom to the upside. If a pullback occurred from the red resistance line at the top to the downside then a sell order will be expected profitable.

USD

GRAPHIC 2: EURUSD HOURLY CHART (MARCH 31, 2020)
OPEN PRICE: 1.10425  SUPPORT: 1.09513  RESISTANCE: 1. 11533
The EURUSD chart has a bearish volatile movement inside the red-colored channel. The chart moves under MA14 blue line with lower high movement. It is expected profitable to sell this pair if a pullback occurred near the top of the channel to the downside. If a candle closes under the green support line then the downtrend will be strong. If a candle closes above the top limit of the channel then a buy order will be expected profitable.

USD

GRAPHIC 3: GBPUSD HOURLY CHART (MARCH 31, 2020)
OPEN PRICE: 1.24159   SUPPORT: 1.22420  RESISTANCE: 1.24869
The GBPUSD chart has a ranging volatile movement inside the green-colored channel. The chart moves under the MA14 blue line. It is expected profitable to sell this pair if a candle pullback from the red resistance line at the top to the downside. If a pullback occurred from the green support line at the bottom of the range to the upside then a buy order will be expected profitable.

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