I will be looking to stay bullish above 1.2435 support area to target 1.2500 and 1.2520 levels. While selling can be seen below 1.2430 regions today.
The EUR/USD is likely to stay bullish above 1.1020 area, having placed the stop loss around 1.1000 and take profit around 1.1040 and 1.1065.
On Thursday, the BTC/USD continues to trade within the Symmetric Triangle Pattern, which is supporting it around 10,000 points along with resistance at 10,400. A bearish breakout can prompt sell-off unto 9910 area, and the bullish breakout is expected to promote BTC towards 10,500 and 10,700.
GBP/USD – Daily Forecast I will be considering to stay bearish below 1.2500 area to target 1.2460 and 1.2425 levels. While buying can be seen above 1.2525 regions today.
The EUR/USD is trading sideways, testing the intraday resistance level of around 1.1075, having formed a Doji candle on the 4-hour timeframe. It's suggesting chances of a bearish reversal in EUR/USD. On the lower side, support stays at 1.1020 and 1.9998. Violation of 1.1090 can drive strong bullish moves in EUR/USD today.
BTC/USD is still trading in the Symmetric Triangle Pattern, which is supporting it around 10,000 level along with resistance at 10,400 level. A bearish breakout can drive sell-off until 99100 area, and the bullish breakout is likely to push BTC towards 10,500 and 10,700.
GBP/USD – Daily Forecast The Cable is trading slightly lower in the wake of bearish retracement which is likely to be completed around 1.2390 and 1.2368, the 50% and 61.8% Fibonacci retracement levels. These are the levels where we can expect a bullish reversal in GBP/USD. On the upper side, resistance stays at 1.2445 and 1.2485 areas.
The EUR/USD traded lower to test the support level of around 1.0997 and has closed Doji candles here. It's signaling odds of a bullish reversal. We may see buying above 1.0997 until 1.1045 and 1.1075. However, the bearish breakout will lead EUR/USD towards 1.0935.
The leading cryptocurrency BTC/USD continues to trade in the Symmetric Triangle Pattern, which is supporting it around 10,000 level along with resistance at 10,400 level. A bearish breakout can drive sell-off until 99100 area, and a bullish breakout is likely to push BTC towards 10,500 and 10,700.
As you can see in the chart above, the GBP/USD has already violated the sideways channel, which was keeping Sterling steady below 1.2380. The immediate resistance is likely to be around 1.2520 and 1.2560. While support can be seen around 1.2380. The RSI is massively overbought, so we may see GBP/USD going towards 1.2450 area before continuing bullish trends.
EUR/USD – Daily Forecast Technically, the EUR/USD is trading right above the resistance become support level of around 1.1074. The RSI is holding in the overbought zone, suggesting the odds of bearish reversal. But the Doji candle above 1.1060 is supporting the direct currency Euro. Above 1.1070 level, the EUR/USD can drive the bullish trend in EUR/USD until...
BTC/USD – Daily Forecast Last week, everyone was focusing on the European Central Bank's rate decision, perhaps that's the reason we didn't see much movement in the Cryptocurrencies. The BTC/USD is now trading in the Symmetric Triangle Pattern, which is supporting the leading cryptocurrency at the 10,000 level along with resistance at 10,400 level.
Sterling still has strong support at 1.2300, and the bearish breakout can trigger a sell-off until 1.2255. While the continuation of a bullish trend and breakout of 1.2370 resistance can lead GBP/USD towards 1.2400 and 1.2424.
European Central Bank has voted to restart its Q.E. programme and hit banks with deeper negative interest rates to make them lend. The initial response was pretty bearish, but it was something every investor was expecting. Therefore, the EUR/USD pair reversed to trade at the same old zone of around 1.1060. For now, the violation of 1.1070 level can drive the...
The BTC/USD has not changed much as investors focus stayed on the ECB monetary policy meeting, which drove massive movements in the gold and EUR/USD. Bitcoin continues to gain bullish momentum to trade below double top resistance area of around 10400. The violation of this level can extend bullish rally until 10770 and 10925 areas. Elsewhere, support can be seen...
Sterling hasn't moved much, and technical levels are almost the same. Sterling still has strong support at 1.2300, and the bearish breakout can trigger a sell-off until 1.2255. While the continuation of a bullish trend and breakout of 1.2370 resistance can lead GBP/USD towards 1.2400 and 1.2424.
The ECB is due to release it's monetary policy decision today, and the market is expecting a rate cut or a dovish statement from ECB. Which is why we see a sharp bearish trend in the EUR/USD. Today is a momentous day and EUR/USD trading heavily depends upon the rate decision. The rate cut by ECB can trigger sell-off until 1.0925 while no rate and neutral policy...
On the daily timeframe, the BTCUSD is getting strong support above the triple bottom level of 9920. Resistance is likely to stay at the same level of around 10250. Sentiment will remain mixed, until we have a bullish breakout above 10250 as it may open further room for buying until 10,355 and 10,402. Whereas, below 10250 BTC can remain bearish until 9985.