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GBPUSD 1.2310 major resistanceThe British pound has staged a strong upside rally against the US dollar, following the release of more positive news regarding Brexit negotiations. GBPUSD bulls have now triggered a bullish inverted head and shoulders pattern, with the 1.2480 level the overall target. The 1.2310 level is the next major resistance level to watch if bulls can maintain the GBPUSD pair above the 1.2250 level. The GBPUSD pair is only bearish while trading below the 1.2200 level, key support is found at the 1.2150 and 1.2080 levels. If the GBPUSD pair holds above the 1.2200 level, buyers may test towards the 1.2310 and 1.2360 levels.
by OctaFX_Official
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2195. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.227. TP4: R2=1.23. Set the stoploss of these orders at breakout of S2=1.2175. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2175. In this situation, there is an expectation to reach the target S3=1.2085. Set the stoploss of reverse orders at breakout of S1=1.2195. 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
2
Don't miss the great buy opportunity in GBPUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.2195). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPUSD is in a down trend 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 70. Take Profits: TP1= @ 1.2385 TP2= @ 1.2300 TP3= @ 1.2560 SL= Break below S2
Long
by ForecastCity_EU
GBPUSD new high neededThe British pound is still holding above the 1.2100 level against the US dollar, although the pace of recent gains has now started to slow down. Bulls need to move price above the current weekly trading high to encourage buying towards the 1.2200 level. Overall, a potential inverted head and shoulders pattern may be forming while price holds above the 1.2080 support region. The GBPUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2050 and 1.2020 levels. If the GBPUSD pair holds above the 1.2080 level, buyers may test towards the 1.2200 and 1.2250 levels.
by OctaFX_Official
EURUSD PMI data keyThe euro currency is trader slightly lower against the US dollar in early Thursday trade, following a fairly uneventful FOMC Meeting Minutes. The release of EU PMI Manufacturing data is the main market mover for EURUSD pair, with bearish German data likely to force a test of the 1.1050 level. A better than expected German PMI number could prompt another test of the 1.1110 level. If the EURUSD pair trades above the 1.1110 level, bulls may test towards the 1.1130 and 1.1146 levels. If the EURUSD pair trades below the 1.1070 level, sellers may test towards the 1.1050 and 1.1020 levels.
by OctaFX_Official
GBPUSD targeting 1.2200The British pound has seen a strong bullish reversal against the US dollar, following the release of positive Brexit news on Tuesday. The recovery from the 1.2080 level has shown that short-term bulls are back in control of the GBPUSD pair and may soon target the 1.2200 level. Given the sentiment shift in the GBPUSD pair, buying dips is current the preferred intraday strategy. The GBPUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2050 and 1.2020 levels. If the GBPUSD pair moves above the 1.2080 level, buyers may test towards the 1.2200 and 1.2250 levels.
by OctaFX_Official
EURUSD support holdsThe euro currency is holding firm above the 1.1070 level against the US dollar as the pairs current yearly trading low remains intact. Bearish fundamental news has failed to push the EURUSD pair lower, which may encourage bulls to test towards the current weekly high. Overall, the release of the FOMC Meeting Minutes should be the next directional catalyst for the EURUSD pair. The EURUSD pair is bearish while trading below the 1.1100 level, key support is found at the 1.1070 and 1.1050 levels. If the EURUSD pair trades above the 1.1100 level, bulls may test towards the 1.1110 and 1.1130 levels.
by OctaFX_Official
EURUSD potential bullish patternThe euro is still trapped around the 1.1100 level against the US dollar as the traders remain cautious ahead of the FOMC Meeting Minutes and EU PMI data later this week. If buyers can continue to defend the 1.1150 to 1.1170 price region a potential double-bottom pattern could form this week. Overall, unless buyers take price above the 1.1160, selling EURUSD is still preferred. The EURUSD pair is bearish while trading below the 1.1100 level, key support is found at the 1.1070 and 1.1050 levels. If the EURUSD pair trades above the 1.1100 level, bulls may test towards the 1.1130 and 1.1160 levels.
by OctaFX_Official
USDJPY triangle in focusThe US dollar is holding onto its recent strong gains against the Japanese yen currency, following a bullish move above the 106.50 level. The four-hour time frame currently shows that a bullish upside breakout from a large triangle pattern has now taken place. The upside target is the 108.00 level, although USDJPY buyers currently face strong technical resistance from the 107.00 level. The USDJPY pair is only bearish while trading below the 106.50 level, key support is found at the 106.00 and 105.50 levels. The USDJPY pair is only bullish while trading above the 106.50 level, key technical resistance is found at the 107.00 and 108.00 levels.
by OctaFX_Official
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2105. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.217. TP4: R2=1.219. Set the stoploss of these orders at breakout of S2=1.2085. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2085. In this situation, there is an expectation to reach the target S3=1.1995. Set the stoploss of reverse orders at breakout of S1=1.2105. 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 bears in controlThe euro currency has fallen back towards the 1.1100 level against the US dollar after crashing below the 1.1130 support level on Thursday. The euro is extremely bearish while trading below the 1.1100 level and now risks falling back towards its current yearly low. Bulls will be looking for a double-bottom formation, however, the fundamentals behind the EURUSD are worsening. The EURUSD pair is heavily bearish while trading below the 1.1130 level, key support is found at the 1.1130 and 1.1100 levels. If the EURUSD pair trades above the 1.1130 level, bulls may test towards the 1.1160 and 1.1200 levels.
by OctaFX_Official
GBPUSD 1.2150 rejectionThe British pound has started to give back recent gains against the US dollar following a strong technical rejection from the 1.2150 level. The recent rejection has also helped to form a large head and shoulders pattern across the lower time frames. Bears now need to force the GBPUSD pair back under the 1.2080 level to turn the intraday sentiment heavily bearish again. The GBPUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2055 and 1.2000 levels. If the GBPUSD pair holds above the 1.2080 level, buyers may test towards the 1.2155 and 1.2200 levels.
by OctaFX_Official
EURUSD 1.1130 criticalThe euro is back under severe technical pressure against the greenback after breaking through the key 1.1160 support level on Wednesday. Bears could easily force a deeper decline towards the 1.1100 level if the 1.1130 support level becomes breached. Overall, market sentiment towards the EURUSD pair is very bearish while price continues to trade below the pivotal 1.1160 level. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1130 and 1.1100 levels. If the EURUSD pair trades above the 1.1160 level, bulls may test towards the 1.1200 and 1.1250 levels.
by OctaFX_Official
GBPUSD awaiting retail salesThe British pound remains vulnerable to further losses against the US dollar, ahead of the release of United Kingdom Retail Sales data this morning. Weaker than expected UK data could easily spark a bearish decline in the GBPUSD pair under the 1.2000 support level. Stronger data may support another run at the 1.2100 level, although GBPUSD bulls may need the pair to move lower to a more attractive price before moving in heavily. The GBPUSD pair is bearish while trading below 1.2080, key support is found at the 1.2000 and 1.1980 levels. If the GBPUSD pair trades above the 1.2080 level, buyers may test towards the 1.2160 and 1.2200 levels.
by OctaFX_Official
USDJPY 106.90 swingThe US dollar has staged a huge recovery against the Japanese yen currency following the suspension of the latest US trade tariffs on China. The move towards the 106.90 level has provided an excellent swing trade for USDJPY bears, with the 105.00 level a solid target. Only a sustained move above the 106.90 level will start to shift the USDJPY pairs short-term bias to bullish. The USDJPY pair is only bearish while trading below the 106.90 level, key support is found at the 105.40 and 105.00 levels. The USDJPY pair is only bullish while trading below the 106.90 level, key technical resistance is found at the 107.30 and 107.60 levels
by OctaFX_Official
EURUSD awaiting GDP dataThe euro has slumped back below the 1.1200 level against the US dollar following better than expected US data and renewed demand for the greenback. Weaker than expected EU data may prompt another technical test of the important 1.1160 support level. Overall, traders are growing more bullish towards the US dollar and the US economy now that Chinese trade tariffs have been pushed back. The EURUSD pair is strongly bearish while trading below the 1.1160 level, key support is found at the 1.1145 and 1.1135 levels. If the EURUSD pair trades above the 1.1225 level, bulls may test towards the 1.1248 and 1.1290 levels.
by OctaFX_Official
GBPUSD 1.2080 saat ini kunciPound sterling Inggris memiliki sebuah bias harian netral terhadap dolar USA setelah sebuah pemulihan mengesankan dari atas level 1.2000 pada hari Senin. Level 1.2080 tetap menjadi kunci pijakan harian untuk pasangan GBPUSD dan sebuah kunci terobosan teknis level di sepanjang kerangka waktu yang lebih rendah. Jika bulls GBPUSD dapat mempertahankan harga di atas level 1.2080, kita harus mengharapkan sebuah pacuan kembali ke tingkat ketahanan 1.2200. Pasangan GBPUSD bearish ketika diperdagangkan di bawah level 1.2080, kunci dukungan berada pada level 1.2020 dan 1.1980. Jika pasangan GBPUSD diperdagangkan di atas level 1.2080, para pembeli kemungkinan akan menjajal 1.2160 dan 1.2200.
by OctaFX_Official
EURUSD aksi segitigaMata uang euro diperdagangkan tepat di bawah level 1.1200 terhadap dolar USA, menyusul sebuah lambungan kuat dari level 1.1160 pada hari Senin. Dengan frustrasi, aksi trading untuk pasangan EURUSD masih berpusat di sekitar pola segitiga dalam kerangka waktu empat jam. Secara umum, bulls perlu menembus bagian atas level harian 1.1225 demi mengamankan uji teknis lainnya terhadap level ketahanan 1.1248. Pasangan EURUSD hanya bearish ketika diperdagangkan di bawah level 1.1180, kunci dukungan berada pada level 1.1160 dan 1.1135. Jika pasangan EURUSD diperdagangkan di atas level 1.1248, bulls perlu menjajal level 1.1290 dan 1.1323.
by OctaFX_Official
EURUSD triangle actionThe euro currency is trading just below the 1.1200 level against the US dollar, following a strong rebound from the 1.1160 level on Monday. Frustratingly, the trading action for the EURUSD pair is still centered around the triangle pattern on the four-hour time frame. Overall, bulls need to break above the 1.1225 level intraday to secure yet another technical test towards the 1.1248 resistance level. The EURUSD pair is only bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1248 level, bulls may test towards the 1.1290 and 1.1323 levels.
by OctaFX_Official
GBPUSD 1.2080 now keyThe British pound has a neutral intraday bias against the US dollar, after an impressive recovery from just above the 1.2000 level on Monday. The 1.2080 level remains the key intraday pivot for the GBPUSD pair and a key technical breakout level across the lower time frames. If GBPUSD bulls can hold price above the 1.2080 level, we should expect a rally back towards the 1.2200 resistance level. The GBPUSD pair is bearish while trading below 1.2080, key support is found at the 1.2020 and 1.1980 levels. If the GBPUSD pair trades above the 1.2080 level, buyers may test towards the 1.2160 and 1.2200 levels.
by OctaFX_Official
There is a possibility for the beginning of an uptrend in EURUSDMidterm forecast: While the price is above the support 1.1000, beginning of uptrend is expected. We make sure when the resistance at 1.1450 breaks. If the support at 1.1000 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased. . While the RSI resistance #2 at 52 is not broken, the probability of price increase would be too low. . The RSI is at 54. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (1.1175 to 1.1100). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (1.1175) Ending of entry zone (1.1100) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 1.12650 TP2= @ 1.13450 TP3= @ 1.14500 TP4= @ 1.15700 TP5= @ 1.17250 TP6= @ 1.18650 TP7= @ 1.20300 TP8= @ 1.22300 TP9= @ 1.25550 TP10= Free
Long
by ForecastCity_EU
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1155. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1195. TP4: R2=1.121. Set the stoploss of these orders at breakout of S2=1.114. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.114. In this situation, there is an expectation to reach the target S3=1.107. Set the stoploss of reverse orders at breakout of S1=1.1155. 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