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.
USDCAD (US Dollar /Canadian Dollar) is a very popular currency pair and represent the exchange rate of the two neighbor money, the U.S. and Canada.
FOREX Market Insights
Today, the Unemployment Survey published by the Spanish Government about the number of unemployed workers added during the previous month; showing a worsen condition, the unemployment passed from 13.9K to 97.9K. That has a negative impact on the Euro.
Today in Focus
Today, we have a high impact published indicators:
AT 15H00 GMT: JOLTS Job Openings is a survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers, including retailers, manufacturers and different offices each month.
AT 15H00 GMT: The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) shows business conditions in the US non-manufacturing sector.
GRAPHIC 1: BTCUSD HOURLY CHART (NOVEMBER 5, 2019)
The BTCUSD pair is bullish volatile inside the colored channel. The pair has a support at the level of 9172.61. We can buy this pair if the chart is at the bottom of the channel; the Stock RSI is lower than 20 and the blue line cross the red. A good entry could be taken at the place of the arrow.
GRAPHIC 2: EURUSD HOURLY CHART (NOVEMBER 5, 2019)
The EURUSD pair has a bearish volatile movement inside the colored channel with a support at the level of 1.11126. A sell order will be very profitable if the Stock RSI is higher than 80 and the red line cross the blue or if the chart crosses the MA line in blue color and close to the downside. If the chart crosses the support line in green color and close to the downside then we have a strong bearish trend.GRAPHIC 3: USDCAD HOURLY CHART (NOVEMBER 5, 2019)
The USDCAD pair has a ranging volatile movement inside the colored channel. If the chart breaks the bottom of the channel and close to the downside a Sell entry will be very profitable. If the chart moves to the top of the channel, the Stock RSI is higher than 80 and the red line cross the blue then we can sell this pair.
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