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Dollar

GBPUSD breakout neededThe British pound is struggling to move away from its recent short-term trading range against the US dollar, following another failed attempt to move past the 1.3000 level last week. GBPUSD sellers may look to fade the GBPUSD pair this week if the price continues to fail around the 1.2980 to 1.3000 technical area. Alternatively, if a breakout above the 1.3000 level occurs this week, the GBPUSD pair could rally towards the 1.3080 area. • If the GBPUSD pair trades below the 1.2925 level, key support is found at the 1.2850 and 1.2720 levels. • If the GBPUSD pair trades above the 1.2925 level, key resistance is found at the 1.2980 and 1.3000 levels.
by OctaFX_Official
USDJPY new lowThe US dollar is coming under increasing pressure against the Japanese yen, with the pair falling to a fresh multi-week trading low. The USDJPY pair risks a deeper decline towards the 107.30 level if the 107.90 support level is broken over the coming sessions. Overall, USDJPY sellers now have the upper hand in the short-term while price trades below the 108.60 resistance level. • The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 107.90 and 107.30 levels
by OctaFX_Official
EURUSD 1.1180 criticalThe euro has experienced a minor technical pullback against the US dollar after sellers failed to break the 1.1180 resistance level on Thursday. The EURUSD pair is at risk of a strong pullback towards the 1.1044 level if bulls fail to break through the 1.1180 level today. With the US monthly jobs report approaching the EURUSD pair is likely to settle into a smaller trading range until the key data release this afternoon. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1260 levels.
by OctaFX_Official
EURUSD steady advanceThe euro is holding onto its monthly gains against the US dollar after the Federal Reserve cut interest by twenty-basis points on Wednesday. Going forward, the 1.1260 level is the key resistance level bulls may attempt to reclaim if a break above the 1.1200 level occurs. The monthly price close is now in focus, with EURUSD bulls on course for the first positive trading month since June this year. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1160 and 1.1260 levels.
by OctaFX_Official
GBPUSD potential buyThe British pound has moved higher against the US dollar, following the Federal Open Market Committee interest rate decision on Wednesday. The latest advance in the GBPUSD pair may present an excellent opportunity to buy a breakout around the 1.2925 level. It is worth remembering that with the upcoming UK General Election the British pound is set for more volatile trading action. • If the GBPUSD pair trades below the 1.2925 level, key support is found at the 1.2900 and 1.2850 levels. • If the GBPUSD pair trades above the 1.2925 level, key resistance is found at the 1.3000 and 1.3080 levels.
by OctaFX_Official
GBPUSD 1.2850 level in focusThe British pound has moved back towards the 1.2850 level against the US dollar after the pair received a strong technical rejection from the 1.2900 resistance level. The 1.2810 level now offers the strongest form of technical support prior to the 1.2720 level. Going forward, a break above the 1.2925 level is needed to encourage a technical test of the psychological 1.3000 level. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2810 and 1.2770 levels. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2925 levels.
by OctaFX_Official
EURUSD bulls bewareThe euro is on the rise against the US dollar on Wednesday, after finding strong dip-buying demand around the 1.1070 support level. Caution is still advised ahead of today’s data releases as the main area of technical support for the EURUSD pair is located just under the 1.1044 level. Overall, the medium-term upside objective for the EURUSD pair is located around the 1.1260 level. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1040 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1260 levels.
by OctaFX_Official
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1095. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1135. TP4: R2=1.115. Set the stoploss of these orders at breakout of S2=1.1075. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.1075. In this situation, there is an expectation to reach the target S3=1.1. Set the stoploss of reverse orders at breakout of S1=1.1095. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity_EU
1
USDJPY 109.30 neededThe US dollar is trading around the 109.00 level against the Japanese yen as overall market sentiment towards the pair increases. The USDJPY pair now needs to rally above the 109.30 resistance level to encourage a major upside technical breakout towards the 110.00 level. Caution is still advised when trading the USDJPY pair until a breakout above the 109.30 level takes place. • The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.30 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.25 and 107.90 levels
by OctaFX_Official
GBPUSD lacking convictionThe British pound has moved above the pivotal 1.2850 level against the US dollar, following news that the European Union has granted the UK a Brexit extension. The upside move above the 1.2850 is lacking conviction and could soon start to stall. Overall, a confirmed bearish rejection back under the 1.2850 level could prompt a strong decline towards the 1.2720 support level. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2920 levels. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels.
by OctaFX_Official
USDJPY data to decideThe US dollar is trading sideways against the Japanese yen, as traders and investors await a slew of US economic data releases this week. The USDJPY pair could become extremely volatile to trade, leading to plenty of two-way trading opportunities. Traders are likely to continue to buy any dips in the USDJPY pair while the price continues to trade above the pivotal 107.90 technical level. • The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.25 and 107.90 levels
by OctaFX_Official
EURUSD FOMC to decideThe euro continues to hold below the 1.1100 level against the US dollar as traders look to a busy week ahead of market action. The direction of the EURUSD pair is likely to be decided by the outcome of the FOMC rate decision later this week. A rate cut could push the EURUSD towards the 1.1200 level, while a more hawkish FOMC decision could see sellers forcing the pair back towards the 1.1000 level. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1050 and 1.1010 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1220 levels.
by OctaFX_Official
EURUSD 1.1044 now possibleThe euro is trading below the key 1.1110 level against the US dollar, following more dovish commentary from outgoing ECB President Mario Draghi on Thursday. A sustained loss of the 1.1110 level may encourage sellers to push price back towards the 1.1044 level. Overall, the EURUSD pair could be a strong dip-buying opportunity if a deeper correction towards the 1.1044 area occurs. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1080 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1220 levels.
by OctaFX_Official
GBPUSD turning bearishThe British pound has slumped to a fresh weekly trading low against the US dollar as reports surface that British Prime Minister Boris Johnson may call for a UK General Election next week. The GBPUSD pair has a negative intraday bias while trading below the 1.2850 level. The GBPUSD pair is likely to be sold heavily on any rallies back towards the 1.2890 resistance level. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2890 and 1.2920 levels. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels
by OctaFX_Official
GBPUSD holding supportThe British pound is attempting to stage a recovery against the US dollar on Thursday after bulls continued to defend the important 1.2850 support level. Buyers must still remain cautious as a loss of the 1.2850 level could spark a strong decline in the GBPUSD pair. A sustained breakout above the 1.2900 level could cause the GBPUSD pair to rally back towards the 1.3000 level. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.3000 levels. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2720 and 1.2500 levels.
by OctaFX_Official
EURUSD awaiting ECB decisionThe euro currency is advancing back towards the 1.1145 level against the US dollar, as traders await the ECB monetary policy decision later today. The EURUSD pair could rally towards the 1.1255 level if bulls continue to defend the 1.1110 level. A sustained loss of the 1.1110 support level could prompt a much larger decline in the EURUSD pair back towards the 1.1045 level. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1090 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1255 levels.
by OctaFX_Official
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.112. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1155. TP4: R2=1.1175. Set the stoploss of these orders at breakout of S2=1.1105. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.1105. In this situation, there is an expectation to reach the target S3=1.1035. Set the stoploss of reverse orders at breakout of S1=1.112. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity_EU
EURUSD bearish correctionThe euro has moved below the pivotal 1.1145 level against the US dollar, placing the focus on emphasis on further short-term selling. If an interim high is in place, the bearish correction in the EURUSD pair could extend losses towards the 1.1044 support level. A sustained break below the 1.1110 support level should confirm that the EURUSD pair can start to trade much lower this week. • The EURUSD pair is bearish while trading below the 1.1145 level, key support is found at the 1.1110 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1145 level, key resistance is found at the 1.1180 and 1.1220 levels.
by OctaFX_Official
GBPUSD selling preferredThe British pound has slipped below the 1.2900 level against the US dollar as bearish Brexit news weighs on the pairs trading sentiment. Selling any moves above the 1.2900 resistance level is now the preferred intraday strategy when trading the GBPUSD pair. More cautious traders may weight for a sustained breakout below the 1.2850 support level to initiate a GBPUSD short position. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2950 levels. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2720 and 1.2500 levels
by OctaFX_Official
USDCHF Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.986. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=0.991. TP4: R2=0.9925. Set the stoploss of these orders at breakout of S2=0.984. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=0.984. In this situation, there is an expectation to reach the target S3=0.9765. Set the stoploss of reverse orders at breakout of S1=0.986. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity_EU
EURUSD 1.1200 still possibleThe euro currency has staged a minor technical correction lower against the US dollar after the pair found technical resistance from just below the 1.1180 level. EURUSD bulls still have time to advance towards the 1.1200 level ahead of Thursday’s key ECB policy meeting. A sustained loss of the 1.1145 level could push the EURUSD pair towards the 1.1125 support level. • The EURUSD pair is only bearish while trading below the 1.1145 level, key support is found at the 1.1125 and 1.1090 levels. • The EURUSD pair is bullish while trading above the 1.1145 level, key resistance is found at the 1.1180 and 1.1200 levels.
by OctaFX_Official
USDJPY bearish patternThe US dollar is struggling to move above the 108.80 level against the Japanese yen, leaving the pair under pressure going into the European trading session. The four-hour time frame is currently showing that a bearish head and shoulders pattern has formed. A sustained break under the 108.55 level will trigger the bearish pattern, with the 108.10 level the overall target. • The USDJPY pair is only bullish while trading above the 108.55 level, key resistance is found at the 108.80 and 109.30 levels. • The USDJPY pair is only bearish while trading below the 108.55 level, key technical support remains at the 108.10 and 107.90 levels
by OctaFX_Official
EURUSD major week aheadThe euro has opened the new trading week unchanged against the US dollar, with Brexit uncertainty having a limited impact on the pair. The EURUSD pair performed a major breakthrough above the 1.1100 level last week, putting the 1.1200 level in focus if buyers can keep price above the 1.1160 level. Overall, the EURUSD pair is unlikely to extend gains beyond the 1.1230 technical area until the ECB policy decision. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1070 and 1.1040 levels. • The EURUSD pair is bullish while trading above the 1.1110 level, key resistance is found at the 1.1170 and 1.1230 levels.
by OctaFX_Official