The ECB remains in the highlights due to its monetary policy meeting and rate decision. Odds of rate change are pretty low, but considering the behavior of major central banks around the globe, traders are pricing in chances of a rate cut or further Q.E. to accommodate the economy against the Coronavirus. This can drive selling in the Euro today. Economic Calendar The BTC/USD tanks further as the WHO reports the Coronavirus as a global pandemic. The BTC/USD remains exposed to drops, particularly with the strong resistance and weak support in court. The cryptocurrency market, the stock exchange, and other worldwide markets are suffering in the wake of fears that the Coronavirus could become uncontrollable. The World Health Organization (WHO) has considered the deadly COVID-19 a global pandemic. This comes as countries take steps to either carry the virus or hold it at bay. The global financial markets remain to undergo troubles, including the BTC/USD. The leading crypto has disappointed and failed to gain demand, especially in a situation of global emergencies such as the Coronavirus. Instead, the BTC/USD has extended to the tank bottom by the side with the other traditional businesses. Support Resistance 7,617.2 7,973.43 7,426.55 8,139.01 7,070.32 8,495.24 Pivot Point 7,782.78 The BTC/USD continues to trade lower but mostly with in the same trading range that we spoke about earlier. It's maintaining the 8,200 - 7,600 wide trading zone. Closing of candles below 7,600 level can extend selling until 7,300 and 7,150 levels. While the 50 EMA resistance is likely to keep the leading cryptocurrency bearish. The EUR/USD currency pair takes bids and hits a high level of 1.13 again, mainly due to the new risk-off sentiment in the market. However, the currency pair climbed from the 1.1266 level to 1.1334 within 1-hour as the fresh risk-off sentiment found in the stock markets after Donald Trump failed to reduce the fears about intensifying coronavirus slowdown in the global economy. The EUR/USD is trading at 1.1295 and consolidates in the range between the 1.1251 - 1.1333. Whereas, the Asian stocks, oil, and the S&P 500 futures are reporting sharp losses. During the congress, United States President Donald Trump announced a 30-day travel ban on tourists, especially from Europe. Trump offered immediate payroll tax relief instead of something more substantial. Whereas, investors were expecting more robust stimulus measures from Trump. As in result, the risk sentiment grew after Trump's speech, boosting demand for safe-haven investments like Japanese Yen, Euro, and U.S. treasuries. Looking ahead, the EUR/USD currency pair could continue to trade bullish before the European Central Bank (ECB) rate cut decision, which is scheduled to release at 12:45 GMT. The central bank is fastened between a rock, a hard place, and the Coronavirus and has limited scope to act. The rates are already below zero, which is why a rate cut may not leave a positive impact on the economy. Support Resistance 1.1105 1.1335 1.1178 1.1408 1.1220 1.1450 Pivot Point 1.1293 The EUR/USD is trading bearish at 1.1290, closing below 1.1335 can drive selling in the EUR/USD prices. On the hourly timeframe, the EUR/USD has formed a descending triangle pattern, which is likely to support the EUR/USD around 1.1265, and violation of this level can drive selling until the 1.1225 area today. The GBP/USD currency pair is flashing red and dropped to 1.2811 despite the broad-based U.S. dollar weakness after the U.S. President Donald Trump offered an immediate payroll tax relief. However, the reason behind the pair's declines could be the UK PM Boris Johnson emergency meeting about Coronavirus (COVID-19). At the press time, the GBP/USD currency pair is currently trading at 1.2816 and consolidates in the range between the 1.2811 - 1.2851. The Tory leader asked for an emergency meeting to improve the struggles to control the deadly outbreak. The meeting, which is scheduled to happen around 13:15 GMT, could convey the decision move to the so-called "delay phase" from contain. The Guardian's increased doubts regarding the further European Union and United Kingdom talks, which are scheduled to happen during the next week in London, as confirmed by the Duchy of Lancaster Michael Gove. Thereby, the currency pair gave a little attention to the U.K.'s RICS Housing Price Balance that sent the pair to the four-year high. On the other hand, U.S. President Donald Trump offered immediate payroll tax relief and failed to reduce the fears about intensifying coronavirus slowdown in the global economy, while investors were expecting stronger stimulus measures from Trump. As in result, the risk sentiment grew after Trump's speech, boosting demand for safe-haven investments like Japanese Yen, Euro, and U.S. treasuries. Later today, the eyes will be on the European Central Bank's interest rate decision, which is likely to deliver a rate decision. The decision can also influence the GBP/USD pair. Support Resistance 1.2758 1.293 1.2695 1.304 1.2523 1.3212 Pivot Point 1.2867 The GBP/USD is trading with a bearish bias due to the rate cut decision made by the BOE yesterday. The GBP/USD is trading at 1.2815, and it's pretty much likely to head towards the next support area of 1.2730. Continuation of a selling bias can lead the GBP/USD prices towards the next support level of 1.2730. The RSI and Stochastics are holding in the oversold zone and suggesting chances of a bullish reversal in the pair. In this happens, we may see a bullish retracement until the 1.2850/70 area, and then the pair can again show selling trend until support level of 1.2730. Good luck!

A day before, the greenback clawed background versus a basket of currencies, including the Sterling, following a recent drop fired by coronavirus concerns and a breakdown in U.S. government bond yields amid a flight to safer assets. President Donald Trump proposed a news conference after announcing on Monday that he was equipped to practice "major" measures to support the U.S. economy, and his remarks eventually helped the dollar. Overall, it's likely to be an important day from the trading viewpoint as investors will be eyeing on the U.S. inflation figures. Economic Calendar The BTC/USD price is attempting to crossover the resistance at $8,000 again, after having a rejection at $8,200 on Tuesday. The BTC/USD price is anticipated to descend further ere formidable support is found to provide a reversal. Nevertheless, the sellers were not interested in the movement as they immediately found to force BTC/USD back into the $ 7,000's area. Consequently, another bullish improvement seems to be underway, with the Bitcoin price previously leading over $7,900. BTC/USD is staggering at $7,930 as the buyers gradually build a bullish momentum to beak the resistance at $8,000. The daily chart reveals that in spite of the jump from levels over $9,000 to $7,603, the BTC/USD is consistently holding over a 15-month ascending trendline. The leading Bitcoin continues to maintain the same trading levels as before, as the leading crypto pair is trading below an immediate resistance level of 7,925, and bullish breakout of this level can trigger buying until 8,200. Support Resistance 7,751.56 8,167.71 7,536.63 8,368.93 7,120.48 8,785.08 Pivot Point 7,952.78 The BTC/USD proceeds to maintain the same trading levels as before, as the leading crypto pair is trading below an immediate resistance level of 7,925, and bullish breakout of this level can trigger buying until 8,200. The MACD and 50 EMA is implying chances of bearish inclination in the pair, but the 50 EMA resistance is far away from the prevailing market price of 8,200. Below this, we can anticipate additional selling in the pair. Alternatively, the BTC/USD has formed a tweezers bottom pattern above 7,645 support level, which can drive a slight buying in the BTC/USD pair. The bullish bias remains strong over 7,600 level, and bearish remain strong below 8,200. The EUR/USD currency pair stopped its previous day losses and rose to 1.1350, representing 0.59% gains on the day mainly due to the weakness in the broad-based U.S. Dollar and Treasury yields. At the press time, the EUR/USD currency pair is currently trading at 1.1343 and consolidates in the range between the 1.1277 - 1.1350. The uncertainty about a stimulus package offered by U.S. President Donald Trump to soften the economic impact of the coronavirus epidemic and growing coronavirus cases globally weighed on risk sentiment. As in result, the EUR currency found some support also from the renewed risk-off market sentiment. Therefore, investors raise the U.S. bond-buying as in result, the renewed sell-off found in the Treasury yields that sent the dollar lower across the board. The U.S. dollar index now trades 0.35% lower at session lows near 96.05 whereas the U.S. benchmark 10-year Treasury yields are down nearly 11% at 0.675%. Support Resistance 1.1245 1.1371 1.1197 1.145 1.107 1.1576 Pivot Point 1.1323 The EUR/USD is trading with a bearish bias around 1.1345 area, and it has already completed the 38.2% Fibonacci retracement at 1.1350. Closing of candles above this level can extend buying until 1.1400 and 1.1425. While the continuation of a selling bias can lead the EUR/USD towards 1.1313 and 1.1275 level. The bullish bias seems to dominate the market. The GBP/USD currency pair stopped its previous day bearish bias and recovered toward the 1.2935 mainly due to the greenback weakness in the wake of fresh risk-off market sentiment. Whereas the U.S. dollar index is registering losses after the heavenly performance of the previous day. The GBP/USD is currently trading at 1.2934 and consolidates in the range between the 1.2869 - 1.2937. However, the GBP traders keenly await key U.K. data and 1st budget after the Brexit for taking fresh impulse. It is worth mentioning that the growing number of coronavirus cases in the U.S. raising fears because the labs which are working under the Trump administration have a shortage of resources for testing. The delay in the incentive package offered by U.S. President Donald Trump to soften the economic impact of the coronavirus epidemic, which he had promised on Tuesday, also weighing on the greenback. At the Britain front, Health Minister Nadine Dorries came in the headlines despite being infected with the deadly virus. The U.K. authorities are trying to test nearly 10,000 people daily, as per the Financial Times report. Support Resistance 1.281 1.3023 1.2733 1.3158 1.252 1.337 Pivot Point 1.2945 The GBP/USD also has shown some serious gains previously, but it fell to fill the massive gap on the 4-hour timeframe. The GBP/USD seems to have filled the bullish gap at 1.3045 and continues to drop below 1.3045 area, which was working as a support level. Below this level, the GBP/USD may trade in a selling zone to hit the next target level of 1.2864, and a bullish breakout of 1.2945 can lead the GBP/USD prices towards 1.3050 today. The RSI and Stochastics are in the extremely oversold zone, suggesting the chances of a bullish retracement. So let's wait for 1.2945 level before taking any further selling positions. Good luck!

On Tuesday, the U.S. dollar steadied slightly following heavy losses versus the yen, the euro and the Swiss franc. Still, traders suggest the risks to the greenback persist high as policymakers try to battle off the widening fallout from the coronavirus disease. The U.S. currency rose to crush higher as Wall Street stock futures advanced, and bond yields bounced following U.S. President Donald Trump announced that the White House is set to hold a news conference about economic measures in reply to the disease. On Tuesday, eyes will remain on the Eurozone industrial production events, which are expected to drive some movement in the market. Economic Calendar The BTC/USD fell sharply from 9,100 level to a low level of 7,640. On the higher side, the BTC/USD is likely to find an immediate resistance around 7,925, and bullish breakout of this level can trigger buying until 8,200. The BTC/USD price bolted below the resistance at $8,000 despite improvement from $7,650. The BTC/USD could comfortably manage on the inverted H&S pattern for the following bull run to $10,500. Bitcoin price is toying with the thought of performing an inverse head-and-shoulders. A reversal has since happened, though it is not vital to remove the resistance at $8,000. For this cause, BTC/USD staggers at $7,901 at the time of reporting. Bitcoin has dropped 0.43% of its worth on the day amid increasing building bearing drive. Support Resistance 7,619.95 8,060.61 7,406.7 8,288.02 6,966.04 8,728.68 Pivot Point 7,847.36 On Monday, the BTC/USD fell sharply from 9,100 level to a low level of 7,640. On the higher side, the BTC/USD is likely to find an immediate resistance around 7,925, and bullish breakout of this level can trigger buying until 8,200. The MACD and 50 EMA is suggesting odds of bearish bias in the pair, but the 50 EMA resistance is far away from the current market price of 8,200. Below this, we can expect further selling in the pair. Alternatively, the BTC/USD has formed a tweezers bottom pattern above 7,645 support level, which can drive a slight buying in the BTC/USD pair. The bullish bias remains strong over 7,600 level, and bearish remain strong below 8,200. The EUR/USD currency pair flashing red and trading below the 1.1400 level mainly due to broad-based U.S. Dollar recovery sentiment. As well as, the sellers now targeting 1.1300 level ahead of the Eurozone GDP release. At the press time, the EUR/USD currency pair is currently trading at 1.1341 and consolidates in the range between the 1.1338 - 1.1459. The market risk-tone has recovered as bullish rally seen in the U.S. Treasury yields and S&P 500 futures that mainly boosted the greenback broadly higher from the lowest level since September 2018 reached on Monday at 94.66. Apart from this, the risk recovery could be attributed to the latest numbers from China that show a continued reduction in the cases and death toll. On the other hand, the shared currency is still looking pressurized by the rising chances of the rate cut to be delivered by the European Central Bank this Thursday, which weakens the EUR currency trade sentiment. It's worth to mention that Eurozone money markets now price in two rate cuts from the European Central Bank (ECB) by June vs. one last week. Support Resistance 1.1384 1.1503 1.1315 1.1553 1.1196 1.1672 Pivot Point 1.1434 The EUR/USD is trading with a bearish bias around 1.1345 area, and it has already completed the 38.2% Fibonacci retracement at 1.1350. Closing of candles above this level can extend buying until 1.1400 and 1.1425. While the continuation of a selling bias can lead the EUR/USD towards 1.1313 level. Overall, the bearish bias seems to dominate the market. The GBP/USD currency pair failed to continue its 5-day winning streak and dropped to the 1.3070, representing 0.45% declines mainly due to the fresh Brexit uncertainty. The risk improved sentiment helped the U.S. dollar to bounce off the multi-month low. The GBP/USD is currently trading at 1.3043 and consolidating in the range between the 1.3022 - 1.3134. Global policymakers showed their efforts to control the negative implications of the coronavirus (COVID-19). As in result, the market risk-tone has recovered slightly. Among them, U.S. President Donald Trump's expected stimulus, and China's opened the epicenter Wuhan's borders for travelers also improved the risk-tone. Even so, the recovery in the U.S. Treasury bonds, as well as the equity futures, likely helped the U.S. dollar to bounce off the multi-month low. At the Brexit front, the fresh doubts regarding Brexit are also fueling the pair's pullback. Some of the opposition Labour Party, raise doubts on the December 2020 deadline due to deal disputes, COVID-19 concerns. Support Resistance 1.2981 1.3084 1.2913 1.312 1.281 1.3224 Pivot Point 1.3017 The GBP/USD also has shown some serious gains, as it opened higher with a massive gap. The GBP/USD seems to have filled the bullish gap at 1.3045, and now it's likely to find another support around the 1.3045 area. Above this level, the GBP/USD may bounce off until the next target level of 1.3120, and bullish breakout of this can lead the GBP/USD prices towards 1.3205. The RSI and Stochastics are in the extremely overbought zone, suggesting chances of a bearish retracement. So let's wait for 1.3015 before taking any further buying positions. Good luck!

On Monday, the buck dropped against the euro and yen as a slip in oil prices coupled with coronavirus concerns to push U.S. yields to historic lows. Oil prices fell 30% after Saudi Arabia shocked traders with a promise to slash prices and increase output following the breakdown of an OPEC supply contract. Here's what to trade today. Economic Calendar   The BTC/USD trades bearish and concludes to 10%, and it split the key $8,000 support versus the U.S. Dollar. The BTC/USD price is now exposed, but the $7,500 support zone could spark improvement in the short term. The BTC/USD is dipping heavily under the $8,200 and $8,000 support levels versus the U.S. Dollar. The price split many major supports, which also includes the 100-day SMA. There was a breach beneath a significant bullish trend line with support at $8,670 on the daily graph of the BTC/USD pair. The next crucial support on the downside is around the $7,500 area, where the bulls are expected to arrive. Support Resistance 8,366.21 9,174.52 7,983.12 9,599.74 7,174.81 10,408.05 Pivot Point 8,791.43 There's a flood of sellers in the market as the Bitcoin prices have dropped from 9,100 to trade lower at 7,790, and it's likely to drop further until 7,666. Whereas, violation of this level can drop further until 7.350. The MACD is signalings odds of further selling bias in the Bitcoin. The EUR/USD currency pair hit the 14-months high and continue to gain bullish bias mainly due to the risk-off market sentiment and increased demand for treasuries while the entire yields have fallen beneath 1%. The oil prices crash also leaving the impact on the market risk-tone and pushing the EUR/USD currency pair higher. The EUR/USD is trading at 1.1406 and consolidates in the range between the 1.1336 - 1.1493. The demand for anti-risk assets rose, pushing the U.S. yields lower, and the EUR and other safe havens like JPY, CHF, and gold sent higher. The financial markets are flashing red this Monday, with oil benchmarks reporting a 22 % drop. Meanwhile, the futures on the S&P 500 are reporting a 4.5% drop, and the U.S. 10-year yield has dropped to record lows below 0.5%. Saudi Arabia dropped its export oil prices during the weekend, starting a price war with Russia. Apart from the oil headlines, the coronavirus continues to spread outside China, notably in Italy and South Korea, at a faster rate. As per the Washington Post, some White House executives are worried that the number of confirmed cases in the U.S. would double or more in the next 48 hours. Support Resistance 1.1221 1.1356 1.1152 1.1424 1.1016 1.1559 Pivot Point 1.1288 The EUR/USD prices also surged to place a high around 1.1485 before dropping to the 1.1395 area. The pair has formed a higher high pattern, which is likely to trigger further buying in the EUR/USD. On the lower side, the EUR/USD may find support around 1.1360 and 1,1325 today. Bullish bias may prevail during the day. GBP/USD currency pair flashing green and got supported by the broad-based U.S. dollar weakness while representing 0.32% gains to 1.3075 on the day. As the press time, the GBP/USD is trading at 1.3056 and consolidates in the range between the 1.3048 - 1.3120. At the virus front, the 30% increase in the total numbers of coronavirus (COVID-19) cases to 273, as well as the 3rd death due to the deadly virus, seem to represent the stronghold of the disease on the British economy. Whereas, the coronavirus continues to spread outside China, notably in Italy and South Korea, at a faster rate. As per the Washington Post, some White House officials are worried that the number of confirmed cases in the U.S. would double or more in the next 48 hours. On the other hand, the worsening conditions in Europe gain major attention to trigger the early-day risk-off market sentiment that pushed the U.S. treasury yields to the record lows below 1.0%. Due to no major data on the U.K.'s economic calendar, markets traders will keep their eyes on the virus updates while waiting for Wednesday's Budget from the British Chancellor Rishi Sunak. Support Resistance 1.2981 1.3084 1.2913 1.312 1.281 1.3224 Pivot Point 1.3017 Just like any other currency pair, the GBP/USD also has shown some serious gains, as it opened higher with a massive gap. On the 4 hour timeframe, the GBP/USD seems to have filled the bullish gap at 1.3045, and now it's likely to find another support around 1.3045 area. Above this level, the GBP/USD may bounce off until the next target level of 1.3120, and bullish breakout of this can lead the GBP/USD prices towards 1.3205. The RSI and Stochastics are in the extremely overbought zone, suggesting chances of a bearish retracement. So let's wait for 1.3015 before taking any further buying positions. Good luck!

On Friday, the dollar sustained savage losses versus the Japanese yen and euro as a dive in the U.S. yields to register lows cleaned out the currency's single most significant attraction for traders - higher interest rates. Mounting concerns over the radioactivity from the Coronavirus has prompted a truly tectonic transformation in expectations for U.S. rates as businesses wager the Federal Reserve will have to lower interest rates by 50 basis points for the other time this month. Let's check out the trade plans. Economic Calendar The BTC/USD prices moved over $9,000 to consolidate around $9,051 at the time of reporting. The leading cryptocurrency is running with substantial bullish impulse following a sustainable break above an important technical level. BTC/USD has achieved over 3.5% since the inception of Thursday and nearly 1% on a day-to-day basis. The BTC/USD has formed a bullish candle on a daily graph, that drove the price over the important resistance level. The BTC/USD managed to find support over $8,700, which marks the SMA200 on the daily timeframe. The subsequent bullish barrier immediately comes at $9,250, which is produced by a mixture of SMA50 daily and 23.6% Fibo retracements for the downside movement from July 2019 top to December 2019 low. Support Resistance 8,001.74 9,587.57 7,426.95 10,598.61 5,841.12 12,184.44 Pivot Point 9,012.78 On Friday, the BTC/USD hasn't changed a lot as it seems like investors are staying out of the market ahead of the U.S. nonfarm payroll figures. The BTC/USD has already violated the double top resistance area of 8,960, which is now working as a support level of the Bitcoin. On the higher side, the next resistance prevails at 9,100, and bullish breakout of this level can extend buying until 9,183 while the support level continues to stay at 9,100. In case market break over the 9,183 level, we may see it's prices going towards 9,440.   Today in the early Asian session, the EUR/USD currency pair continues to flash green and hit the 7-month high of 1.1249 because global equities are reporting sharp losses in the wake of intensifying coronavirus pandemic fears. The EUR/USD is trading at 1.1231 and consolidates in the range between the 1.1213 - 1.1249. According to the current situation, the EUR currency continues to take benefit from the risk-off market sentiment and flight to safety, which is not surprising now. As we know, the common currency performs as a safe-haven currency due to ECB's negative rates and Eurozone's current account surplus. It is worth mentioning that the market risk-off tone will likely remain high as coronavirus pandemic is not dispensing any indications of slowing down, and EUR/USD currency pair may take bids further. The gates remain clear for EUR/USD to extend gains toward the next significant resistance near 1.1282 (July 19, 2019 high). Looking forward, traders will keep their focus on German Factory Orders (Jan), which are scheduled to release at 07:00 GMT. Meanwhile, the U.S. Nonfarm Payrolls will be critical to watch and expected to release at 13:30 GMT. Support Resistance 1.087 1.1118 1.0714 1.121 1.0466 1.1458 Pivot Point 1.0962 The traders seem to do profit-taking in the U.S. dollar ahead of the U.S. nonfarm payroll figures, which has to lead the EUR/USD prices higher towards 1.1280. The EUR/USD is likely finding strong support above 1.1200 level as the bullish bias remains strong due to the closing of the bullish engulfing candle on the daily timeframe. Besides, the pair is forming a higher high pattern on the hourly chart, which is also suggesting bullish bias. Let's expect buying positions over 1.1215 with a target of 1.1280. The GBP/USD currency pair flashing green but failed to cross the key hurdle at 1.2965 despite the drop in the U.S. treasury yields. At the press time, the GBP/USD currency pair is trading at 1.2955 and consolidates in the range between the 1.2947 - 1.2966. The on-going risk-off market sentiment continues to weigh on the U.S. treasury yields. The ten-year yield is trading at a record low of 0.892% at press time, having declined by 16 basis points on Thursday. The 30-year yield has also hit record lows, and the 2-year yield is trading at 44-month lows. As in result, the greenback is flashing red against the euro and the Japanese yen. However, the British Pound is struggling to continue its 3-day bullish streak. The bid tone around the GBP seems to have declined mainly due to dovish BOE expectations. The money markets expect the Bank of England (BOE) to deliver rate cut by 25 basis points this month. While Goldman Sachs thinks the BOE will provide a 50 basis point rate cut. It should also be noted that the first death in the U.K. and increasing toll in the U.S., due to lack of test kits, seem to weigh on the market's risk-tone. As of result, S&P 500 Futures seem to await fresh clues to extend the latest risk-off as flashing 0.10% gains to 3,025. Eyes now will remain on the U.S. NFP data, which is coming out later today. Support Resistance 1.2689 1.2981 1.2561 1.3146 1.2269 1.3438 Pivot Point 1.2854 The GBP/USD continues to trade bullish during the Asain trading session, as it has already violated the trading range of 1.2725 - 1.2820. The GBP/USD is edging higher to test the bearish channel resistance area of 1.2960, and crossing of this level over 1.2960 can lead the Sterling prices towards 1.3015 and 1.3055. On the lower side, support stays around 1.2890 level, which may keep the EUR/USD bullish today. Most of the moment will come on the release of NFP figures, so brace for it. Good luck!

On Thursday, the dollar gained its standing as upbeat jobs figures supported it to recoup a bit of its bearish bias versus the single currency euro. In contrast, the dollar remains steady on the yen following the U.S. Federal Reserve's surprise rate reduction. The safe-haven yen also returned a portion of fresh winnings, as the revival of moderate Joe Biden in the Democratic Party primaries boosted traders' risk appetite. On Thursday, the markets will be trading the technical side of the market due to a lack of high impact economic events today. Economic Calendar The BTC/UD is hitting the 61.8% Fibo resistance to clear the track for more upside trend until $9,000. The technical levels remain in support of the buyers amid steadily increasing bullish entries. The BTC/USD price is again in a bullish zone, and this may help the Bitcoin to soar over $9,000. The BTC/USD is trading around $8,937 after surging higher 2% on the day. During the last couple of days, the BTC/USD trading has mostly supported the bulls. Nevertheless, the buyers miss the power to pick the Bitcoin price over $9,000. The leading cryptocurrency has, nevertheless, supported over $8,800 despite the concerns that the Coronavirus may become a worldwide pandemic. The BTC/USD immediate bullish resistance is likely to be found around the 61.8% Fibonacci level, and the overall consolidation phase is expected to be within 10,524 and a swing low of $6,431 on the bigger timeframes. Support Resistance 8,665.97 8,840.62 8,581.08 8,930.38 8,406.43 9,105.03 Pivot Point 8,755.73 The BTC/USD traded in line with our previous forecast to test the double top resistance area of 8,960. On the higher side, a bullish breakout of 8,970 levels can extend buying until 9,093, while the support level continues to stay at 8,800. In the case market break over 9,093 level, we may see it's prices going towards 9,440. The EUR/USD currency pair flashing green and representing 0.4% gains on the day. The pair stopped its 4-day recovery rally and dropped by 0.32% on Wednesday, mainly due to the risk-on sentiment in the U.S. equities. At the press time, the EUR/USD currency pair is currently trading at 1.1138 and consolidates in the range between the 1.1130 - 1.1144. However, the currency pair may take selling pressures if the risk recovery in the financial market gathers steam. The EUR/USD prices are tossing in red and green, mostly maintaining the choppy trading session in between a narrow trading range of 1.1106 - 1.1190. On the lowe side, the crossover of 1.1093 opens chances for 1.1049 for a 38.2% Fibonacci retracement before going for 1.0997, the mean reversion point. As we already mentioned that the EUR currency took selling because the U.S. stock markets recovered after the U.S. House of Representatives authorized almost $8 billion for virus stopping. Support Resistance 1.109 1.1182 1.1047 1.1231 1.0955 1.1323 Pivot Point 1.1139 The EUR/USD has also remained neutral due to a lack of major economic events in the market. The release of the U.S. Fed rate cut decision has driven the EUR/USD prices towards a 1.1215 resistance level. It has now formed a double top pattern, which is keeping the EUR/USD pair under pressure below the 1.1215 area. Technically, the pair should reverse back below 1.1217 level for a retracement until 1.110 and 1.1065. The GBP/USD currency pair continued its 3rd-day bullish streak and rose to 1.2875, the pair representing 0.04% gains on the day mainly due to the greenback weakness. While the Bank of England's refrain from further rate cut also supported the GBP currency. At the time of writing, the GBP/USD is trading at 1.2878 and consolidates in the range between the 1.2860 - 1.2890. Therefore, traders will keep eyes on today's speech from the BOE Governor Mark Carney for near-term direction. The British pound is heading towards its best day versus the single currency euro and U.S. dollar in two weeks. The GBP/USD pair crawled up from four-and-a-half-month lows versus the greenback on Wednesday, as incoming Bank of England Governor Andrew Bailey announced action could be required to balance the impacts of the Coronavirus. Support Resistance 1.28 1.2903 1.2734 1.294 1.2631 1.3043 Pivot Point 1.2837 The GBP/USD continues with its sideways trading session, lingering within a tight trading range of 1.2725 - 1.2820. The GBP/USD is operating above and beneath the pivot point level of 1.2837, which is presently working as support. On the 4-hour timeframe, the 50 EMA is operating nearby 1.2810 level while the GBP/USD is buying above this level. Bullish crossover of this level can continue buying unto 1.2896 and 1.3015. While on the downside, the bearish crossover of 1.2800 can drive selling until 1.2725 level. Good luck!

On Wednesday, the greenback hovered near five-month lows against the yen following the U.S. Federal Reserve's surprising 50 basis point rate cut, which sparked more concern about the influence of the coronavirus on the market. Besides, it also sent Treasury yields falling to record lows. The U.S. dollar also traded around the weakest in nearly two years versus the Swiss franc, with traders gathering to traditional safe havens as rate reductions were considered inadequate to compensate risks postured by the global outbreak of the coronavirus. Whereas, the single currency Euro was one of the currencies to profit most from the broad-based dollar vulnerability as traders trust the Fed will decrease rates more than the European Central Bank.   The BTC/USD is trading down just below 1% at its current rate of $8,800, which is around where it has been consolidating at in the time heeding this morning's strong rejection at $8,900. Since the leading cryptocurrency has disappointed to accumulate enough buying pressure to regain its former position within the $9,000 range, it does appear as though further near-term downside could be expected. Today's price action has frequently consisted of trading sideways around $8,700, but this today's rejection at $8,900 reinforced the hope that the crypto will soon witness further bearish bias. Despite this, BTC has been able to sustain over a key short-term level that could eventually drove it to rise higher, with one trader recording that survival of this level could mean a reversal to its range highs is expected. Support Resistance 8,656.36 8,905.3 8,534.77 9,032.65 8,285.83 9,281.59 Pivot Point 8,783.71 On Wednesday, the Bitcoin is trading at 8,825, staying mostly above the support level of 8,782. On the hourly timeframe, 50 periods EMA is supporting the BTC/USD pair around 8,780. The bullish engulfing candle on the hourly timeframe, the BTC/USD has formed a bullish engulfing pattern above the same support level of 8,780. Continuation of a bullish trend may lead to Bitcoin prices towards 8,888 and 8,975. A bullish breakout of 8,975 can lead to Bitcoin prices towards 9,090. The EUR/USD currency pair failed to continue its bullish trend and dropped from the 8-weeks high level mainly due to the U.S. treasury yields that recovered from the record lows. As the press time, the EUR/USD is trading at 1.1162 and consolidates in the range between 1.1155 - 1.1185, having hit high of 1.1214 on Tuesday. That was the highest level since January 02. At the data front, the ten-year U.S. Treasury is trading at 0.986%, representing a 7- basis point gain from the record low of 0.916% reached Tuesday. The two-year yield has also recovered to 0.683% from 0.613%. The treasury yield has recovered on Tuesday, pushing the greenback lower across the board after the decision by the United States Federal Reserve to deliver the rate cut by 50-basis points. It should be noted that the emergency rate cut delivered to control the negative impact of coronavirus on the economy, while had a positive impact on equities. Although, the sentiment turned bearish and the U.S. markets flashing red because investors are cautious after the rate cut. On the flip side, the EUR currency worked as a safe-haven currency during the recent periods of coronavirus. This is evident from EUR/USD's near 90-degree surge from 1.0788 to 1.12 seen in the last 8- trading days. Support Resistance 1.1106 1.1224 1.1042 1.1278 1.0924 1.1396 Pivot Point 1.116 Dramatic buying in the EUR/USD pair triggered on the release of U.S. Fed rate cut decision, which drove the EUR/USD prices towards a 1.1215 resistance level. It has now formed a double top pattern, which is keeping the EUR/USD pair under pressure below the 1.1215 area. Technically, the pair should reverse back below 1.1217 level for a retracement until 1.110 and 1.1065. The GBP/USD currency pair looking flat on the bullish track and representing 0.03% gains on the day. As we know, the currency pair recently got support from the broad-based greenback weakness after the U.S. Federal Reserve decision to deliver rate cut by 50-basis-points. As of writing, the GBP/USD is trading at 1.2812 and consolidates in the range between the 1.2807 - 1.2832. The upbeat comment from the Bank of England also played their part. Whereas, the European Union and United Kingdom Brexit talks are proceeding while iNews, the news agency, reported regarding Irish Prime Minister. This suggests that there is a growing probability of a no-deal Brexit at the end of the year. However, in his latest comments, the European Union's (E.U.) chief Brexit negotiator Michel Barnier made a U-turn from his generally observed UK-critic tone while saying that the talks are going positive. On the other hand, the news came from the U.K. Express that Spain is quietly using the way to have a more considerable influence in Gibraltar after the Brexit. Its also worth mentioning that the Bank of England policymakers, including Governor Carney, appreciated the financial actions like rate cut to control the deadly coronavirus negative impact. Support Resistance 1.2768 1.285 1.2725 1.2889 1.2643 1.2971 Pivot Point 1.2807 The GBP/USD proceeds with its choppy session, staying within a narrow trading area of 1.2725 - 1.2820. The GBP/USD is holding above and below the pivot point level of 1.2807, which is now serving as resistance. On the 4-hour timeframe, the 50 EMA is holding around 1.2810 level while the GBP/USD is trading below this level. Bullish crossover of this level can extend buying until 1.2896 and 1.3015. While on the lower side, the bearish breakout of 1.2800 can lead to selling towards 1.2725 area. Good luck!

The U.S. dollar shifted to a six-week low versus a basket of currencies on Monday, as traders speculate on the U.S. Federal Reserve raising policy in a bid to counter the negative influence from the spread of the new coronavirus. The dollar index, which gauges the greenback's health against a bucket of six other major currencies, was 0.53% lower at 97.448. Global risk assets, including stocks, were beaten hard last week as traders worried about the economic influence of the worldwide spread of the disease. On Tuesday, the eyes will remain U.K. Monetary Policy hearing and G7 meetings, which are due later today.   The BTC/USD price surged to the most in a couple of weeks, soaring alongside U.S. stocks amid speculation the Federal Reserve and other central banks will bolster markets as the coronavirus grows. The largest cryptocurrency by market price increased by 4.1% to $8,874. Last week, despite a bullish sentiment among some traders the BTC/USD would work as a safe-haven asset similar to gold or U.S. Treasury bonds. In contrast, the leading cryptocurrency had dropped lately simultaneously with riskier assets such as stocks. Yesterday, the sell-off shifted as global authorities, which include the U.S. Federal Reserve, Bank of Japan, International Monetary Fund, and World Bank has pledged to work if required to support neutralize any lasting economic suffering from extensive travel cancellations, quarantines, and industry disorders. Support Resistance 8,711.77 9,062.59 8,479.08 9,180.72 8,128.26 9,531.54 Pivot Point 8,829.9 On Tuesday, the Bitcoin is trading at 8,825, holding right below the double top resistance level of 8,940. On the 4 hour timeframe, Bitcoin prices have formed a bearish engulfing pattern, which is suggesting odds of bearish trend continuation for the Bitcoin. On the lower side, the BTC/USD is likely to stay supported above 8,670 and 8,474. Whereas, the bullish breakout of 8,970 can lead the Bitcoin prices towards 9,106. It's the same level where the 50 EMA is also likely to extend resistance. The single currency Euro recovered in the wake of a weaker dollar. The Euro continued to trade slightly upward just below its highest in two months versus the dollar on Tuesday. The single currency Euro last bought $1.1129, and the dollar remains neutral at 97.544. However, the trading has been capped; most of the investors are waiting to examine whether central banks can live up to forecasts. Most of the bullish trend came on forecasts that coronavirus-driven dovish monetary policy in the United States may drive weakness in the U.S. dollar, causing the movement of funds into the Euro. Both U.S. Federal Reserve Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde have indicated at odds of action in recent days. However, with the ECB's benchmark interest rate at 0% and the Fed's interest rate may range between 1.5% and 1.75%. The U.S. Federal Reserve has more opportunity to maneuver, driving traders to unwind carry trades, respectively. Support Resistance 1.1053 1.1199 1.0972 1.1265 1.0826 1.1412 Pivot Point 1.1119 The EUR/USD is trading at 1.1145 as it faces a hard time breaking above the 1.1175 resistance level. Continuation of a bullish trend can extend buying until the next target level of 1.1245. The bullish bias is still strong, and we can expect EUR/USD prices to stay strong above 1.1125 support level. In any case, if the EUR/USD pair breaks below 1.1120 level, it may see it drop further towards the 1.1103 mark. The U.K. Sterling slipped broadly, placing a fresh four-and-a-half month low versus a stronger euro as traders ratified a careful view at the commencement of discussions between Britain and the European Union on their involvement after Brexit. Nearly 100 UK executives were in Brussels for the initial series of discussions with the E.U.'s executive wing, the European Commission, which are expected to continue until Thursday. Nearly half a trillion euros' value of annual trade and tight security draws are at pale in what are bound to be tense talks. Prime Minister Boris Johnson has told Britain would not be wrapped by E.U. laws or the power of its highest court — all-important, in the E.U.'s opinion, to guarantee fair competition. Support Resistance 1.2722 1.2916 1.2627 1.3015 1.2432 1.3209 Pivot Point 1.2821 The GBP/USD continues to consolidate sideways, holding mostly within a narrow trading range of 1.2725 - 1.2820. On Tuesday, the Asian trading session mostly brought a slight bullish correction in the GBP/USD pair as it maintains a slightly bullish stance around 1.2729. The GBP/USD pair crosses below the pivot point support level of 1.2821, which is now working as a resistance. On the 4 hour timeframe, the 50 EMA is lingering around 1.2880 level while the GBP/USD prices are operating near 1.2790, just below the pivot point, which suggests bearish bias among traders. The GBP/USD may trade bearish below 1.2821 until the next support level of 1.2725, while resistance can be found around the 1.2900 level. Good luck!

On Monday, the index is looming the range of 4-week lows in around 98.00 level, as traders continue to price in the possible rate cut by the Federal Reserve (even ahead of the FOMC meeting) on March 17-18. The greenback, in terms of the U.S. Dollar Index (DXY), has begun the week well into the opposing area and tested fresh lows in the region of 97.80, where sits the vital 200-day SMA. On the news side, eyes will remain on the U.K. manufacturing PMI figures. The BTC/USD price has confident inception to the week's trading as it's price increased during the Asian session on Monday amid the bullish building momentum. The BTC/USD is edged higher around 1% while trading at $8,614. The BTC/USD price has elevated upwards from an initial price of $8,525.75, although it also registered an intraday low of $8,485.52. The daily graph reveals Bitcoin trading beneath the moving averages where the 200-day SMA is narrowing upward progress at $8,760.46 and the 50-day SMA keeping the ground at $9,276. The 61.8% Fibonacci level of the previous swing high at $10,537 to a swing low of $6,438.93 will further limit the profits towards $9,000. Support Resistance 8,521.14 8,916.46 8,281.9 9,072.54 7,886.58 9,467.86 Pivot Point 8677.22 On Monday, the Bitcoin prices continue to trade around the support level of 8,475. Whereas, the 50 periods EMA extends resistance around 8,745 area. A bearish breakout of 8,473 can lead to BTCUSD prices toward the next support area of 8,224. While the RSI and other leading indicators still hold in the selling zone. The direct currency pair EUR/USD has opened higher to trade around 1.1045 in the wake of profit-taking in the U.S. dollar. Previously, the single currency Euro grew to one-month highs of $1.1074, and last held at $1.1050, adding around 0.3% so far during the Asian session, followed by a 1.7% surge last week. The common currency's bullish momentum derived from the unwinding of so-called Euro carry trade, in which traders acquire the Euro to spend in higher-yielding currencies, and consequently, the European economy continues to suffer, and inflation remains low. The reports of further coronavirus cases in the United States threatened the observed health of the U.S. economy and supported the Euro and other major currencies versus the greenback. Later in the day, eyes will remain on the Eurozone's manufacturing PMI figures, which may help us determine further trends of the market. Support Resistance 1.0968 1.107 1.0908 1.1113 1.0806 1.1215 Pivot Point 1.101 The EUR/USD seems to form a Doji candle on the daily timeframe, which may trigger the bearish retracement until next support areas of 38.2% and 61.8% levels of 1.1029 and 1.1005. Whereas the 28.2% Fibo level of 1.1029 may extend support, which can be strong enough to trigger a bounce off in the EUR/USD pair. On the higher side, resistance continues to stay at 1.1076 today. The GBP/USD gains 0.06% to 1.2830 from the mid of October 2016 lows while traveling into the London open on Monday. While risk reset appears to have been following the latest pullback, the Cable investors will carefully examine the official Brexit trade agreement discussions, starting from today. Moreover, the U.K. official PMIs and the U.S. PMI will be in focus for near-term trends. A slight bullish correction in the GBP/USD came amid a weaker dollar index. The index is looming the range of 4-week lows in around 98.00 level, as traders continue to price in the possible rate cut by the Federal Reserve (even ahead of the FOMC meeting) on March 17-18. Through his public presentations at the weekend, the UK PM Boris Johnson was quoted by the U.K. Mirror, stating that it is expected that the Covid-19 coronavirus will develop a "bit more" as the number of verified cases surged from 23 to 35. Following that, the British health director Matt Hancock admitted procedures to isolate cities, if needed, to prevent the spread. Support Resistance 1.2722 1.2916 1.2627 1.3015 1.2432 1.3209 Pivot Point 1.2821 During the previous week, the GBP/USD traded with a selling bias to test the support area of 1.2720, but the Monday trading session brought bullish correction in the GBP/USD figures. The GBP/USD pair crosses over the pivot point resistance level of 1.2821, which is now working as a support. On the 4 hour timeframe, the 50 EMA is staying at 1.2920 level while the GBP/USD prices are holding around 1.2830, over the pivot point, which suggests bullish bias among investors. The GBP/USD may trade bullish over 1.2821 until the next resistance level of 1.2945, while support can be found around 1.2723 level. Good luck!

A day before, the U.S. dollar slipped as traders bet the Federal Reserve would lower interest rates to compensate the influence of the spreading coronavirus, providing the signal euro its most significant daily gain since May 2018. On the news front, the economic calendar is almost muted, which is why the focus will remain on the technical outlook. No significant price action is expected so far. Sideways and choppy sessions are due to thin trading volume.   The BTC/USD price disappoints to maintain this level, then a fresh lower low under the Feb.4 price of $9,089 is possible. Below $9,089, the next level of support can be seen at the 200-day moving average that is also at $8,800. The BTC/USD is presently recovering from the $8,512 weekly low versus the greenback. Nevertheless, BTC/USD is still covering many key hurdles near $9,000, and it could return its decay. BTC/USD is exhibiting symptoms of a short term upward retracement from $8,512 versus the greenback. The sellers are still in control, except there is a definite break over $9,000 and $9,200. There is possibly a bearish flag forming with support around $8,735 on the hourly graph of the BTC/USD pair. The BTC/USD could continue its drop beneath the $8,735 and $8,600 mark in the near term. Support Resistance 8,595.6 9,015.6 8,365.3 9,205.3 8,175.6 9,435.6 Pivot Point 8,785.3 The BTC/USD extends to trade with a bearish trend following a breach of the symmetric triangle, which can drive the Bitcoin prices towards the subsequent support level of 8,476. Under this, the focus will be on the 8,245 as this level marks a double bottom and may support the falling bitcoin prices. The RSI has crossed above 50, indicating that sellers are exhausted, and bulls have entered the market. But the new candles are still showing a lack of clarity about the upcoming trend. Let's consider staying bullish over 8785.3 to target 9,115. The EUR/USD showed a dramatic bullish trend as the pair surged to 1.1000. Later today, the eurozone's Economic Confidence Index for February will be released (102.8 expected). During the Asian session, the EUR/USD stood at $1.0993 following Thursday's surge of more than 1%, the biggest increase in more than two years as traders rewound odds against the currency against the greenback. Versus the single currency Euro, the dollar dropped to a three-week low, floating just beneath that at 1.099, falling 1.02% on Thursday afternoon. The dollar index sank 0.658% to 98.463, having earlier fallen to its lowest since February 6. It had dropped approximately 1% since last week when it reached near the three-year top, well thanks to the safe-haven appeal. The U.S. economy was comparatively sheltered from the coronavirus radioactivity. However, the currency's safe-haven attraction has wrapped off. Support Resistance 1.092 1.1041 1.0842 1.1084 1.0799 1.1162 Pivot Point 1.0963 The EUR/USD has traded in line with the previous forecast and has completed the 61.8% Fibonacci retracement at 1.0976, and for now, it has already violated this level to trade at 1.1000. The pair is in the overbought zone, but it seems to continue its bullish momentum despite a stronger U.S. dollar. On the higher side, we may see EUR/USD prices heading towards 1.1040. The GBP/USD trades with a slight bearish bias, dropping nearly -0.05%, to trade at 1.2885. The Cable survived and ignored the general greenback's weakness the previous day as the UK PM Boris Johnson's crew set forth plans of their post-Brexit trade-deal discussions with the European Union. As of now, the next week's Brexit talks are the key fundamental for traders along with the coronavirus, which is driving the risk-off sentiment on the market. A day before, the Sterling prices dropped to hit a more than five-week low against the Euro and dollar. It's mainly because Britain reinforced a hardline stand on trade discussions with the E.U. and frustration grew that the new finance minister may not boost spending as much as anticipated. In addition to this, the Sterling is also dropping on the back of heightened forecasts that the Bank of England would reduce it's interest rates. As of now, the BOE interest rate lingered near its high for February on concerns that a relaxed fiscal policy would support Britain's markets. Support Resistance 1.285 1.2936 1.2812 1.2984 1.2764 1.3022 Pivot Point 1.2898 The GBP/USD is trading with a selling bias, staying beneath a pivot point resistance mark of 1.2898. On the 4 hour timeframe, the 50 EMA is holding around 1.2940 level while the GBP/USD prices are holding around 1.2870, below the pivot point, which suggests clear bearish bias among traders. The GBP/USD has closed a strong selling candle below 1.2998 level, which is favoring the selling trend. Continuation of a bearish bias below 1.2898 has the potential to extend selling until 1.2850. Good luck!