AUDUSD is trending upwards ⬆️ 60.19% of traders have a Short ⬇️ position open!

NZDUSD is trending upwards ⬆️ 53.86% of traders have a Long ⬆️ position open!

EURUSD is trending upwards ⬆️ 76.24% of traders have a Long ⬆️ position open!

AUDUSD is trending upwards ⬆️ 55.47% of traders have a Short ⬇️ position open!

BTCUSD is trending downwards ⬇️ 56.23% of traders have a Long ⬆️ position open!

A day before, the greenback remained firmed as confidence that the coronavirus crisis was reducing has faded, boosting traders' anxieties over the economic influence of the pandemic. The single currency euro amongst was the primary loser versus the U.S. dollar. Yesterday, the EUR/USD dropped after the greenback suffered its worst slide versus a basket of currencies in almost two weeks. Today, eyes will be on the series of high impact events from the U.K., U.S., and Canada. Economic Calendar The leading cryptocurrency BTC/USD is dispensing a few bearish signs beneath the $7,400 resistance zone versus the U.S. Dollar. The BTC/USD is currently failing, and it could prolong its inclination towards $7,100 or $6,800. The BTC/USD is fighting to break above the next resistance level of $7,400 and $7,500 versus the U.S. Dollar. The bears are gradually taking control, and they are anticipated to target $7,000. There was a breach beneath a significant bullish trend line with support around $7,300 on the hourly chart of the BTC/USD pair. The BTC/USD pair could improve distinctly towards the $7,100 support or $6,800. Roughly 4-weeks ago, the global equities markets were in trouble as traders eventually recognized that the coronavirus was not just an illness limited to China, but rather a worldwide pandemic which could lastingly damage markets over the globe. Support Resistance 7,221 7,430 7,113 7,531 6,904 7,740 Pivot Point 7322.09 BTC/USD – Daily Forecast The BTC/USD prices consolidate to trade over the support level 7,060, but the closings of candles above this support level may drive bullish bias for the Bitcoin today. At the same time, the leading cryptocurrency is also expected to face resistance around 7,440, and bullish breakout of this level can extend buying until the next resistance level of 7,615. The bullish bias remains strong as the Bitcoin has closed a bullish engulfing pattern on the 4-hour timeframe, which is likely to keep it bullish above the 7,215 support zone. The EUR/USD pair is flashing green and registered moderate gains to trade until 1.0880 ahead of the European Union minister meeting. The EUR/USD failed to extend its previous losses below key short-term SMA confluence and looking flat because traders keenly await the ECB meeting. The European Union finance ministers struggle to agree on a coronavirus economic rescue package. The EUR/USD is trading at 1.0863 and consolidates in the range between the 1.0854 - 1.0880, while the currency pair faced some moderate declines on Wednesday because Spain reported the highest daily increase in coronavirus cases deaths in four days. Moreover, the European Central Bank (ECB) said this is our responsibility to keep the rates low for an extended period while leading Germany economic forecast institutes observe the economy declining approximately 10% in the second quarter. As in result, the EUR currency could suffer in deeper losses. As the talks about coronavirus stimulus package faced failure to happen overnight, so the finance ministers of the European Union nations are scheduled to resume discussions on Thursday. It is worth mentioning that the Spanish Agriculture Minister Luis Planas said, the European Union's future is at the risky note as per Reuter's latest report. Lastly, the European Central Bank (ECB) has asked for a fiscal stimulus package worth 1.5 trillion euros. However, the European ministers have failed to deliver the stimulus so far due to a constant standoff between southern European states like Italy and fiscally conservative countries like the Netherlands. Hence, we have not seemed much price action in the EUR/USD currency pair. Support Resistance 1.0829 1.0887 1.08 1.0917 1.0742 1.0975 Pivot Point 1.0858 EUR/USD – Daily Forecast The EUR/USD has formed a symmetric triangle pattern, which is keeping the pair in consolidation mode between 1.0853 - 1.0887. Breakout of this pattern will help determine further trends in the market. On the higher side, the bullish breakout of this level can lead EUR/USD prices towards the next resistance level of 1.0930. Conversely, a bearish breakout of 1.0850 level can trigger further selling until 1.0835 and even below until 1.0820. The key pivot point is 1.0860, and the market can stay bearish below and bullish above this level today. Today in the early Asian trading hours, the GBP/USD currency pair continued its 3-day winning streak and registered mild gains on the day, representing 0.10% gains and taking round to 1.2400 ahead of the U.K.'s February month data which dumped and Fed Chair Powell's speech. The GBP/USD is trading at 1.2377 and consolidates in the range between the 1.2377 - 1.2419. However, the traders keenly await the busy economic calendar, which can offer additional catalysts to traders. Although the United Kingdom Prime Minister Boris Johnson gave positive vibes about his health and announced as stable inside the Intensive Care Unit (ICU), while the deputy leader Dominic Raab facing trouble as the coronavirus (COVID-19) intensifying outbreak pushes the policymakers to extend the lockdown. The expected extension about a three-week-old lockdown is putting British policymakers in trouble. Still, the expected shortage of ventilators ahead of the National Health Services (NHS) prediction also did the same. In the meantime, the Guardian indicates the NHS study expecting the pace in cases in around seven to 10 days. Besides, the European Central Bank (ECB) has asked for a fiscal stimulus package worth 1.5 trillion euros. However, the European ministers have failed to deliver the stimulus so far due to a continuous standoff between southern European states like Italy and fiscally conservative states like the Netherlands. Whereas, the E.U. keeps criticizing the Brexit deadline. With this, we Support Resistance 1.2315 1.2447 1.2236 1.25 1.2104 1.2632 Pivot Point 1.2368 The GBP/USD continues to consolidate above and below a pivot point level of 1.2368. The overall trading range remains limited in between 1.2515 - 1.2250, while investors await the GDP figures before entering further positions in the market. The GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090. The GBP/USD pair may trade in selling below 1.2368 and buying above the same level today. Good luck!

AUDUSD is trending upwards ⬆️ 57.33% of traders have a Short ⬇️ position open!

AUDUSD is trending upwards ⬆️ 53.42% of traders have a Long ⬆️ position open!

GBPUSD is trending upwards ⬆️ 56.1% of traders have a Short ⬇️ position open!

On Wednesday, the U.S. dollar found a footing as traders reacted to safe-havens, reclining some risk currency gains produced on concerns the coronavirus crisis in Europe and New York was reducing. The greenback extended versus most of the major's currencies besides the Japanese yen, a day after experiencing its severest decline versus a basket of forex currencies. The safe-haven surge was sparse but picked speed in early Asian trading, especially after the bullish rally in Asian stock markets lost steam and bonds, and gold prices improved. Economic Calendar The BTC/USD recovers the chances of bullish recovery to $8,000 ere May 2020 halving. The Bitcoin is following a bullish bias, with immediate to be found at $7,400 and $7,500, respectively. A day before, the BTC/USD prices slipped to test the support level around 7,060, but the closings of candles above this support level may drive bullish bias for the Bitcoin today. The BTC/USD bulls are indeed in power to lead a breakout not only over $7,000 but also $7,400. Improvement from the $6,000 area has taken a long time with various limits at $6,400, $6,800 and $7,000 being in the way. Nevertheless, BTC/USD is now consolidating at $7,365. Intraday metrics confirm the price having scored nearly 2% on its value on the day after having a retracement over $7,201. The primary goal for the buyers is to push for profits over $7,400. This could improve the investor's confidence in the recovery, and targeting $8,000 resistance mark. Support Resistance 7,020 7,394 6,863 7,611 6,489 7,985 Pivot Point 7,238 BTC/USD – Daily Forecast The BTC/USD prices slipped to test the support level around 7,060, but the closings of candles above this support level may drive bullish bias for the Bitcoin today. At the same time, the leading cryptocurrency is also expected to face resistance around 7,440, and bullish breakout of this level can extend buying until the next resistance level of 7,615. The bullish bias remains strong as the Bitcoin has closed a bullish engulfing pattern on the 4-hour timeframe, which is likely to keep it bullish above the 7,215 support zone. The EUR/USD pair failed to continue its previous day winning rally and dropped to 1.0859 level, representing 0.28% losses on the day mainly due to the U.S. dollar retakes the lead due to the risk-off market sentiment in the wake of intensifying coronavirus concerns. The pair recently returned from the previous day high level of 1.0926 to 1.0859. The EUR/USD pair is currently trading at 1.0859 - 1.0902. As we already mentioned that the U.S. Dollar taking bids on the day, as the S&P 500 futures slumped by 0.5%, indicating the risk-off sentiment in the global market after New York reported 731 deaths from coronavirus on Monday- the most significant daily rise. On the other hand, Spain's daily losses of coronavirus deaths also increased for the 1st-time in 5-days. The reason behind the fresh risk-off sentiment could also be the recent action in which the rating agency Standard and Poor's put the country's AAA rating on the negative, which indicates a recent decline in the fiscal metrics. Moving on, the bearish moves in the EUR/USD currency pair could take place if the European equities open on the negative note in the wake of intensifying coronavirus fears. On the flip side, the trader should be noted that the oil benchmarks are flashing green, which could be seen well for stocks; in this case, the safe-haven U.S. dollar will likely get weaker. Support Resistance 1.0827 1.0941 1.0762 1.0991 1.0647 1.1106 Pivot Point 1.0876 EUR/USD – Daily Forecast On Wednesday, the EUR/USD is trading with a bearish bias, having crossed the pivot point level of 1.0876 on the lower side. With this, the odds of bearish bias improves, and we may see EUR/USD prices heading lower towards the next support level of 1.0772. As we can see on the 4-hour chart, the pair has formed a symmetric triangle pattern, which signifies the neutral sentiment among traders, and it can exhibit a breakout on either side of the market. Hence, a bearish breakout of 1.0750 support level can extend selling until 1.0664 level, which also marks a double bottom pattern today. So let us look for selling trades below 1.0876 with a stop loss of over 1.0950 and take profits around 1.0666. During the early Asian session, the GBP/USD currency pair flashing red and did not succeed in holding its previous session gains. The pair has dropped to 1.2310 and representing 0.18% declines on the day mainly due to the renewed coronavirus concerns and UK PM Boris Johnson health issue. The fresh uptick in the U.S. dollar also keeps the pair lower, and the GBP/USD continues to trade at 1.2325. Overall, the cable consolidates in the range between the 1.2310 - 1.2353. Despite the recovery in the UK PM Boris Johnson health, the GBP seems depressed due to a rise in virus statistics and expectations of further deterioration. Deputy PM Dominic Raab said that all strategies to control the coronavirus outbreak is going according to Mr. Johnson's plans. While the Foreign Secretary looking confident about the UK PM Boris Johnson's health and said that he would recover from pandemic while describing him as a "fighter." On the other hand, the United Kingdom's death losses challenged the previous weakness and again took pace while rose to the all-time high. Despite this, CNN still shows doubts about the preparation of the data. As per the latest prediction, almost 66,000 UK deaths from COVID-19 by August, with a peak of nearly 3,000 a day, based on a steep rise in daily deaths early in the outbreak. Support Resistance 1.2269 1.2395 1.2201 1.2453 1.2075 1.2578 Pivot Point 1.2327 On Wednesday, the GBP/USD continues to consolidate to around 1.2400 level, but it manages to trade bearish, falling to 1.2450 level. The GBP/USD pivot point support stays around 1.229, and it's prices are tossing above and below this level. The GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090. Today, the GBP/USD pair may trade in selling below 1.2327 and buying above the same level today to target 40 pips on both sides. Good luck!