BTCUSD is trending downwards ⬇️ 69.22% of traders have a Long ⬆️ position open!

The EUR/JPY currency pair is tossing in between profit and losses on Friday within a trading range of 115.450 - 116.410. Bullish crossover of 116.410 may lead the EUR/JPY pair towards 116.880 today. The demand for safe-haven assets such as JPY increased after Trump said that he was prepared to end its ties with China as anger for coronavirus spread and its impact on economies has raised. The U.S. has been accusing China of global virus spread and wanted to punish it, but it has not yet made a formal announcement. The U.S. administration has been suggesting many ideas about punishing China over the global spread of the virus due to its negligence. On Thursday, Trump said that he was very disappointed in China and could cut off its relationship with China. He added that it would benefit the U.S. economy at $500 Billion, so he was considering it. Sino-US relations have been under dispute for over 1.5 years due to trade-war. The Phase-one deal was signed between these two nations in order to make their relationship better in December. According to the signed agreement, China would buy $200 worth of U.S. farm products, and the U.S. would roll back tariffs in stages on Chinese goods. Lately, reports were coming about the Chinese advisors to cancel the phase-one deal and start renegotiation, which would be tilted towards China's side this time. Trump has already announced that he would not go for renegotiation this time. 115.48 116.13 115.07 116.37 114.83 116.79 Pivot Point 115.72 The traders seem to do profit-taking in Japanese yen ahead of the weekend, which is why the EUR/JPY pair is signaling upward movement. The pair may find an immediate resistance around 116.035 ane bullish breakout of this level may extend buying trend until 116.850, while violation of this 116.850 resistance can lead EUR/JPY prices towards 117.900. Conversely, the support holds around 115.470, below which the EUR/JPY may drop until 114.470. Let's wait for the breakout before placing a trade.

NZDUSD is trending downwards ⬇️ 55.59% of traders have a Long ⬆️ position open!

GBP/USD produced a hammer after being bearish on the daily chart for several days. The price has been heading towards the South upon producing a double top on the daily chart. Thus, the sellers keep driving the price towards the South. The H1 chart today has been bearish from the very outset. It has made a breakout at yesterday’s lowest low as well. The sellers may find another opportunity to go short in the pair. Chart 1 GBP/USD H1 Chart The chart shows that the price made a breakout at 1.21840. The pair is trading below the level as of writing. If the price makes an upside correction and produces a bearish reversal candle at the breakout level, the sellers may go trigger a short entry below the level of 1.21640. Trade Summary Entry: Sell below 1.21640 Stop Loss: Above 1.21840 Take Profit 1: 1.21300 Take Profit 2: 1.21150 Take Profit 3: 1.20950

EURUSD is trending upwards ⬆️ 67.97% of traders have a Long ⬆️ position open!

USDCAD is trending upwards ⬆️ 78.92% of traders have a Short ⬇️ position open!

The AUD/USD pair was closed at 0.64611 after placing a high of 0.64687 and a low of 0.64032. Overall the movement of pair remained bullish throughout the day. The AUD/USD pair fell in the beginning sessions but started to post gains after falling for the previous three days and ended its day with a bullish candle. At 6:30 GMT, the Employment Change from Australia showed a decline of 594.3K against the expected reduction of 575.0K. The increased number of jobless people during April from Australia weighed on Aussie on Thursday. The Unemployment Rate from Australia came in as 6.2%against the expectations of 8.3% and supported Aussie. Aussie fell in early sessions on the back of an increased number of jobless people during previous months. But in the late session, it started to gain traction on the back of poor than expected U.S. jobless claim data. Last week 2.9M Americans filed for jobless benefit against the expected 2.5M people, and it weighed on the U.S. dollar. The weaker us dollar helped the AUD/USD to move in an upward direction. Furthermore, the escalating tensions between the U.S. and China also drove this pair on Thursday after Trump announced that he was prepared to cut off its ties with China. The domestic tensions of Aussie also affected the pair's movement. Relations of Australia itself with China are under danger zone after the Australian PM has shown his support to the investigation of China's role in coronavirus origin. China seemed to be offended by this step from its largest trading partner and then announced an 80% tariff on Australian meat imports. Daily Technical levels Support Resistance 0.6426 0.6496 0.6380 0.6520 0.6356 0.6566 Pivot Point: 0.6450 Technically speaking, the AUD/USD pair is trading below the horizontal resistance level of 0.6467 level. At the same level, the 50 periods Exponential moving average is also extending resistance, and we may see a continuation of a selling trend in the Aussie dollar. The pair may find immediate support around 0.6412 level, while the continuation of a selling bias may lead the Aussie towards 0.6375. Let's wait for the U.S. retail sales data before taking further trades in the AUD/USD pair. Good luck!

GBPUSD is trending downwards ⬇️ 60.5% of traders have a Long ⬆️ position open!

NZDUSD is trending downwards ⬇️ 54.3% of traders have a Long ⬆️ position open!

On Friday, U.S. President Donald Trump said that a strong U.S. dollar would be very helpful in the recovery phase after coronavirus. Furthermore, the pair failed to benefit from German's better than expected Inflation data from April. Investors were more concerned about the Eurozone's largest economy, whose inflation was continuously falling below from the ECB's target. The BTC/USD price abruptly dropped fell by 5.11% to $9,256 before rallying to trade in the $9,500 range. This followed a prior sudden decline on Thursday after BTC casually reached $10K to fill the CME futures gap. The BTC/USD figures showed that beginning in the day, the price climbed to $9,939, and the exhibition's consolidation of higher lows and lower highs induced some traders that further bullish trend continuation up to $10K. This change came roughly after an extensive period of sloping trading within the $8,000 ranges, and the bullish commitment to this consolidation has caused many analysts to target a move back up to BTC's yearly highs of nearly $10,500, but before it could target 10K market, we saw a dip in the market. BTC/USD - Daily Technical Levels Support Resistance 9,395 10,071 8,995 10,347 8,719 10,747 Pivot Point 9,671 BTC/USD – Daily Forecast The BTC/USD prices exhibited serious losses after having surged to 9,900 levels during the U.S. session. For now, the pair is testing support around 9,200 level, which is extended by the upward trendline, which can be seen on the hourly timeframe. Bounce of above this level can keep Bitcoin supported over 9,350 level while resistance hold at 9600. The 50 EMA and RSI, both are supporting bullish bias in the Bitcoin. Correction can be seen below 9,365 level today, while bullish breakout will drive buying unto 9,602. The EUR/USD prices were closed at 1.08040 after placing a high of 1.08238 and a low of 1.07746. Overall the movement of EUR/USD remained bearish throughout the day. The EUR/USD pair gained in early American session and moved above 1.0800 level but failed to post gains and started to fell to post daily losses. The primary driver of EUR/USD pair on Thursday seemed to be the U.S. dollar's market valuation. U.S. President Donald Trump said that a strong U.S. dollar would be very helpful in the recovery phase after coronavirus. Furthermore, the pair failed to benefit from German's better than expected Inflation data from April. Investors were more concerned about the Eurozone's largest economy, whose inflation was continuously falling below from the ECB's target. AT 11:00 GMT, the German Final CPI showed a rise of 0.4% in the month of April against the expected 0.3% and supported EUR. The German Wholesale Price Index (WPI) for April showed a decline of -1.4% against the forecasted -0.3%and weighed on single currency Euro. At 13:02 GMT, the Italian Trade Balance for March was reported as 5.69B against the 6.09B of February. Meanwhile, Euro was also dropped because of the renewed fears of second-wave of coronavirus after new cases of virus patients emerged in Europe. Any further signs of rising cases within Europe would increase the anxiety over Eurozone's economy, which would end up having stricter lockdown throughout the bloc. On the news front, France disclosed a plan of 18 Billion euros worth in order to support its tourism sector, which has been affected by the coronavirus pandemic. As a result of lockdown, the beaches, leisure attractions, and hotels in France were closed, which has badly affected the tourist industry. Nearly 90 million foreign tourists visited France last year and made France the most visited country of the year. EUR/USD - Daily Technical Levels Support Resistance 1.0778 1.0829 1.0751 1.0853 1.0727 1.088 Pivot Point 1.0802 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0811, holding above the pivot point support level of 1.0802. A bearish breakout of 1.0802 level may lead the EUR/USD prices towards the next support area of 1.07630, which marks the double bottom level. Below this, future support holds around 1.0725. Conversely, resistance holds approximately 1.0842. The RSI is holding below 50, which is keeping the EUR/USD in a bearish mode while the 50 EMA is also suggesting odds of selling trend in the EUR/USD. Consider staying bearish below 1.0842 today, while buying can also be seen above this level today. The GBP/USD pair was closed at 1.22362 after placing a high of 1.23396 and a low of 1.22100. Overall the movement of GBP/USD pair remained bearish throughout the day. The GBP/USD pair refreshed its daily tops around 1.234 in early trading session but dropped again to post losses for 3rd consecutive day on Wednesday after the speech of Jerome Powell. On the back of better than expected GDP data from the United Kingdom, Pound gained strength against the U.S. dollar in the early North American Session but started to lose traction after the Fed Chair gave comments on the U.S. economy. At 11:00 GMT, the Prelim GDP for the quarter showed a decline of -2.0% against the forecasted value of -2.6% and supported GBP. The GDP for the month dropped by -5.8% in March against the expected -7.9% and supported the Pound. The Construction Output for March dropped by -5.9% against the forecasted drop of -7.1% and supported GBP. The Index of Services also came in favor of GBP after falling for -1.9% against the expectations of -2.5%. At 11:02 GMT, the Manufacturing Production for the month of March from the U.K. showed a decline of -4.6% against the expected decline by -6.0% and supported Sterling. The Goods Trade Balance from the United Kingdom showed a deficit of -12.5B against the forecasted deficit of -10.0B and weighed on Sterling. The Industrial Production for the month of March declined by -4.2% against the forecasted -5.5% and supported Pound. The Prelim Business Investment for the quarter was dropped to 0.0% against the expected -3.0% and supported British Pound. Most of the data came in favor of Pound and pushed the GBP/USD pair prices on Wednesday in early trading sessions. However, the gains of the GBP/USD pair started to lose after the speech of Jerome Powell, the Chairman of the Federal Reserve. On data front from the United States, the U.S. dollar remains depressed due to poor than expected PPI data for April, which fell more than the expectations. However, its effect was not lasting as the speech from Powell on the current economic situation came in under the eyes of traders. Support Resistance 1.2182 1.2259 1.2135 1.2289 1.2105 1.2335 Pivot Point 1.2212 The GBP/USD is consolidating at 1.2216, maintaining a downward channel on the 4-hour timeframe. The bearish trend of the GBP/USD is still dominant as it's holding below 50 EMA, which is extending resistance at 1.2300. The GBP/USD is holding below the daily pivot point level of 1.226, which is suggesting odds of Cable's selling trend. However, the bullish breakout of 1.226 level may extend buying until 1.231 and 1.2391. The RSI and 50 EMA are suggesting the chances of a selling bias today. On the lower side, the GBP/USD prices are likely to find support at around 1.2179 and 1.2132. Let's look for selling trades below 1.226 and buying above the same level today. Good luck!