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Dollar

EURUSD on the advanceThe euro has moved away from the 1.1000 level against the US dollar as dip-buying prevails following the formation of a potential bullish lower weekly trading high. The EURUSD pair may start to target the 1.1090 technical level ahead of the FOMC rate decision later today. Overall, short-term EURUSD bulls are in control of the currency pair while the price continues to trade above the 1.1050 level. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance remains at the 1.1090 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.
by OctaFX_Official
GBPUSD awaiting UK dataThe British pound is consolidating around the 1.2500 level against the US dollar ahead of the release of key UK inflation data later this morning. GBPUSD bulls have the upper hand on an intraday basis while price trades above the important 1.2425 level. Overall, the GBPUSD pair is increasingly bullish with traders continuing to buy any pullbacks towards key technical support zones. The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels. If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2530 and 1.2600 levels.
by OctaFX_Official
GBPUSD divergence reversedThe British pound has fallen back towards the 1.2400 level against the US dollar, reversing negative MACD price divergence on the lower time frames. GBPUSD bulls still have the upper hand this week while price trades above the pivotal 1.2385 level. Wednesday remains a crucial day for sterling as traders await the release of UK CPI inflation data and the FOMC rate decision. The GBPUSD pair is only bearish while trading below the 1.2385 level, key support is found at the 1.2335 and 1.2300 levels. If the GBPUSD pair holds above the 1.2410 level, key resistance is found at the 1.2510 and 1.2600 levels.
by OctaFX_Official
EURUSD 1.1050 still keyThe euro has slipped back towards the 1.1000 level against the US dollar after the pair failed to secure buying interest above the 1.1090 level on Monday. The downside for EURUSD pair can open-up below the 1.1000 level, although further gains towards the 1.1160 level appear more likely this week. Overall, EURUSD bulls need to reclaim the 1.1050 level to encourage fresh buying interest. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1090 and 1.1130 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1020 and 1.1000 levels.
by OctaFX_Official
EURUSD 1.1090 key levelThe euro continues to hold onto recent gains against the US dollar, with the pair trading above the 1.1050 level. EURUSD bulls will need to perform multiple daily price closes above the 1.1090 level to encourage new technical buying interest. Overall, the 1.1160 level remains the short-term bullish target for EURUSD buyers. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1090 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1000 and 1.0930 levels.
by OctaFX_Official
GBPUSD 1.2600 extended targetThe British pound has moved towards the 1.2500 level against the US dollar, with the pair now reaching its overall short-term bullish target. The thirty-minute time frame is currently showing bearish MACD divergence extending down towards the 1.2420. The 1.2600 level remains the extended bullish target for the GBPUSD pair, although it appears unlikely that this target will be hit ahead of the FOMC meeting. The GBPUSD pair is only bearish while trading below the 1.2385 level, key support is found at the 1.2335 and 1.2300 levels. If the GBPUSD pair holds above the 1.2410 level, key resistance is found at the 1.2510 and 1.2600 levels.
by OctaFX_Official
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.105. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1095. TP4: R2=1.1115. Set the stoploss of these orders at breakout of S2=1.103. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.103. In this situation, there is an expectation to reach the target S3=1.0955. Set the stoploss of reverse orders at breakout of S1=1.105. 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
GBPUSD ECB affectThe British pound is starting to give back a portion of its recent gains against the US dollar after the pair failed to rally to a new monthly high on Wednesday. The British pound is likely to be affected by the ECB rate decision, particularly EURGBP cross-flows. Overall, a more dovish ECB move today could help to support the British pound if traders start to shun the single currency. The GBPUSD pair is only bearish while trading below the 1.2290 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2290 level, key resistance is found at the 1.2385 and 1.2410 levels.
by OctaFX_Official
EURUSD bearish under 1.1000The euro currency has fallen below the 1.1000 level against the US dollar, marking a bearish trendline break from a descending triangle pattern. The downside breakout could take the EURUSD pair back towards the 1.0940 level, according to its overall projection. Buyers will need to force the price back above the 1.1050 level to encourage fresh buying interest towards the EURUSD. The EURUSD pair is bearish while trading below the 1.1000 level, key support is found at the 1.0960 and 1.0940 levels. The EURUSD pair is intraday bullish while trading above the 1.1050 level, key resistance is found at the 1.1100 and 1.1130 levels.
by OctaFX_Official
USDJPY very bullishThe US dollar continues to trade above the pivotal 107.00 level against the Japanese yen despite global equity markets turning lower. The technicals for the USDJPY pair still point to more upside while price holds above the 107.00 to 107.10 support zone. The breakout above the 107.50 level in the short-term is likely to push the USDJPY pair towards the 108.10 resistance area. The USDJPY pair is bullish while trading above the 107.00 level, key resistance is found at the 108.10 and 108.30 levels. The USDJPY pair is only bearish while trading below the 107.00 level, key technical support is found at the 106.40 and 106.00 levels.
by OctaFX_Official
GBPUSD buy the dipsThe British pound remains well-supported against the US dollar on Wednesday as traders continue to buy any dips lower in the pair. The GBPUSD pair has fairly limited technical resistance until the 1.2430 level if buyers can force price above the 1.2380 level. Overall, the 1.2300 level still remains the main technical area that GBPUSD bulls will look to buy any pullbacks in pair today. The GBPUSD pair is only bearish while trading below the 1.2290 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2290 level, key resistance is found at the 1.2380 and 1.2430 levels.
by OctaFX_Official
EURUSD limited actionThe euro is still largely contained towards the middle of its recent trading range against the US dollar, as traders remain cautious ahead of Thursday’s ECB meeting. Unless we see a strong move in the US dollar index, it is unlikely that the EURUSD pair will see significant movement. Overall, the 1.1000 to 1.1090 range is still expected to contain the EURUSD without a near-term trading catalyst. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1090 level, key resistance is found at the 1.1130 and 1.1160 levels.
by OctaFX_Official
GBPUSD 1.2480 top resistanceThe British pound has moved within touching distance of the 1.2400 level against the US dollar, following a strong rally from the 1.2250 level. The four-hour time frame shows that the 1.2480 level is top-end resistance if GBPUSD bulls gain control above the 1.2400 level. Weakness back under the 1.2350 level could prompt a test of the 1.2310 support level, where traders will attempt to buy the latest dip. The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2450 and 1.2480 levels.
by OctaFX_Official
GBPUSD UK data focusThe British pound remains well-supported towards the best level of the month against the greenback, ahead of the release of key UK growth and trade data this morning. UK politics is also in focus today, which promises more volatility in the GBPUSD pair. The GBPUSD has upside resistance around the 1.2355 level, while major weekly support extends down towards the 1.2190 level. The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2260 and 1.2190 levels. If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2355 and 1.2380 levels.
by OctaFX_Official
EURUSD still bullishThe euro is holding firm against the US dollar as the new trading week begins ahead of a critical week for the single currency. Traders are likely to be cautious towards the EURUSD pair this week incase the European Central Bank introduce a new stimulus package on Thursday. Overall, a breakout from the 1.1000 to 1.1110 price range is likely to trigger the next strong EURUSD move. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.11100 and 1.1160 levels.
by OctaFX_Official
Don't miss the great buy opportunity in GBPUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.2200). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPUSD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 57. Take Profits: TP1= @ 1.2385 TP2= @ 1.2590 TP3= @ 1.2760 SL= Break below S2
Long
by ForecastCity_EU
EURUSD pullback possibleThe euro has pulled backed from a fresh monthly trading high against the US dollar after the pair found strong resistance from the 1.1086 level. Buyers need to move price above the 1.1160 level to force a major short-term technical breakout in the EURUSD pair. Any near-term technical corrections in the EURUSD pair could easily extend back towards the 1.0940 support level. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.1186 and 1.1130 levels.
by OctaFX_Official
USDJPY 108.00 possibleThe US dollar has broken to the upside against the Japanese yen currency, following more bullish trade news regarding Sino-US trade talks. Now that bulls have broken above the 107.00 level the rally in the USDJPY pair could easily extend towards the 108.00 level. An inverted head and shoulders pattern on the lower time frames point to a potential move towards 108.80. The USDJPY pair is bullish while trading above the 106.40 level, key resistance is found at the 108.00 and 108.80 levels. The USDJPY pair is only bearish while trading below the 106.40 level, key technical support is found at the 106.00 and 105.40 levels.
by OctaFX_Official
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.214. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.223. TP4: R2=1.227. Set the stoploss of these orders at breakout of S2=1.211. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.211. In this situation, there is an expectation to reach the target S3=1.201. Set the stoploss of reverse orders at breakout of S1=1.214. 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 1.0990 upcoming resistanceThe euro currency has made a marginal recovery against the US dollar, following much weaker-than-expected ISM manufacturing data from the US economy. The overall trend still remains bearish for the EURUSD pair, with the 1.0900 level near-term support. Bulls need to move price above the 1.0990 level to encourage a technical test of the 1.1026 resistance level. If the EURUSD pair trades above the 1.0960 level, bulls may test back towards the 1.0990 and 1.1026 levels. The EURUSD pair remains bearish while trading below the 1.0960 level, key support is found at the 1.0900 and 1.0860 levels.
by OctaFX_Official
GBPUSD extremely volatileThe British pound has recovered above the 1.2000 level against the US dollar after bouncing sharply from the 1.1960 support level. United Kingdom politics is generating extreme volatility in the GBPUSD pair, causing price to whipsaw on the latest Brexit headline. Bulls need to keep price above the 1.2020 level to encourage the notion that a medium-term price floor may now be in place. The GBPUSD pair is heavily bearish while trading below the 1.2020 level, key support is found at the 1.1980 and 1.1960 levels. If the GBPUSD pair trades above the 1.2020 level, key resistance is found at the 1.2110 and 1.2155 levels.
by OctaFX_Official
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2035. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.2135. TP4: R2=1.217. Set the stoploss of these orders at breakout of S2=1.196. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.196. In this situation, there is an expectation to reach the target S3=1.1815. Set the stoploss of reverse orders at breakout of S1=1.2035. 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
GBPUSD awaiting PMI dataThe British pound has opened the new trading week below the important 1.2195 level against the US dollar, following renewed demand the greenback. Traders are now awaiting the release of the United Kingdom Manufacturing PMI, which could provoke GBPUSD volatility. Weaker UK PMI data could prompt a test of the 1.2100 support level, while a better than expected number could see bulls forcing price back towards the 1.2200 level. The GBPUSD pair is bearish while trading below the 1.2195, key support is found at the 1.2130 and 1.2100 levels. If the GBPUSD pair trades above the 1.2195 level, key resistance is found at the 1.2220 and 1.2250 levels.
by OctaFX_Official