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EURUSD bulls still in chargeThe euro has made a quick recovery higher after briefly dipping below the 1.1300 level against the US dollar and finding strong buying demand just below the 1.1290 level. Buyers now need to break the former weekly higher and aim to close the daily candle above the EURUSD pairs 200-day moving average. Overall, the upside target for short-term bulls is likely to be the 1.1390 to 1.1410 area if weakness in the greenback persists. The EURUSD pair is only bearish while trading below the 1.1280 level, key technical support is found at the 1.1260 and 1.1230 levels. If the EURUSD pair trades above the 1.1280 level, buyers may test the 1.1360 and 1.1390 levels.
by OctaFX_Official
GBPUSD dip buying still presentThe British pound is struggling to reclaim the 1.2700 level against the US dollar after yesterday’s much weaker set of data points from the UK economy. However, dip-buying demand for sterling still remains present, with bulls still maintaining the upper-hand while price holds above the 1.2660 level. GBPUSD bulls are likely to place stops around the 1.2600 level ahead of today’s next round of UK data points. The GBPUSD pair is only bullish while trading above the 1.2710 level, key resistance is located at the 1.2762 and 1.2817 levels. The GBPUSD pair is only bearish while trading below the 1.2710 level, key intraday support remains at the 1.2680 and 1.2660 levels.
by OctaFX_Official
EURUSD 200-day still a struggleThe euro is holding onto most of Friday’s impressive gains against the US dollar in early week trade after the pair performed another impressive technical break. The EURUSD is struggling to surpass its 200-day, with the pair failing to close the daily candle above this key technical area. Corrective moves back towards the 1.1260 level still remain possible if bulls continue to struggle with the 1.1360 to 1.1370 technical zone. The EURUSD pair is only bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1230 levels. If the EURUSD pair trades above the 1.1300 level, buyers may test the 1.1360 and 1.1410 levels.
by OctaFX_Official
GBPUSD complex bullish pattern formingThe British pound has so far found strong technical resistance from the 1.2762 level against the US dollar, with price falling below neckline support. If the GBPUSD pair holds below the 1.2747 level we may see the start of a complex inverted head and shoulders pattern forming across the four-hour time frame. Overall, traders may also be feeling cautious ahead of the key data being released from the United Kingdom economy later today and tomorrow. The GBPUSD pair is strongly bullish while trading above the 1.2747 level, key resistance is located at the 1.2762 and 1.2817 levels. The GBPUSD pair is only bearish while trading below the 1.2710 level, key intraday support is found at the 1.2680 and 1.2660 levels.
by OctaFX_Official
EURUSD 1.1321 next big levelThe euro has slipped back towards the key 1.1265 level against the US dollar after the pair briefly traded above the 1.1300 level following the ECB policy decision. The 1.1321 level is the key upside level to watch today, with the 1.1380 and 1.1410 key resistance above. The 1.1265 and 1.1230 levels are major intraday support following the EURUSD pairs rollercoaster ride lower on Thursday. The EURUSD pair is only bearish while trading below the 1.1230 level, key technical support is found at the 1.1200 and 1.1165 levels. If the EURUSD pair trades above the 1.1300 level, buyers may test the 1.1320 and 1.1380 levels.
by OctaFX_Official
USDJPY 108.65 upcoming resistanceThe US dollar has started to rise against the Japanese yen currency, with buyers now attempting to break away from the pair’s recently established trading range. The 108.65 level offers solid resistance, while the 109.00 level is the major intraday resistance level. If the move higher is a false breakout, the USDJPY pair could easily still test towards the 107.40 level this week. The USDJPY pair is only bearish while trading below the 108.44 level, key support is found at the 107.70 and 107.40 levels. If the USDJPY pair trades above the 108.44 level, key technical resistance is found at the 108.65 and 109.00 levels.
by OctaFX_Official
EURUSD bearish correction underwayThe euro currency is undergoing a bearish correction against the US dollar after meeting strong selling interest from the 1.1300 resistance level. Additional weakness in the EURUSD is likely, with a technical test of the 1.1165 support possible if price moves below the 1.1200 level. Overall, profit taking and a downward correction in some technical indicators are weighing on the EURUSD in the near-term. The EURUSD pair is only bearish while trading below the 1.1200 level, key technical support is found at the 1.1180 and 1.1165 levels. If the EURUSD pair trades above the 1.1265 level, buyers may test the 1.1300 and 1.1325 levels.
by OctaFX_Official
GBPUSD bullish pattern spottedThe British pound has fallen back under the 1.2700 level against the US dollar in early Thursday trade after bulls failed to break the former key trading high, at 1.2747. However, yesterday’s move higher has helped to create a bullish inverted head and shoulders pattern on the four-hour time frame. All moves lower in the GBPUSD pair are expected to find strong buy dip-buying demand around the 1.2660 support level. The GBPUSD pair is strongly bullish while trading above the 1.2700 level, key resistance is located at the 1.2747 and 1.2800 levels. The GBPUSD pair is only bearish while trading below the 1.2660 level, key intraday support is found at the 1.2645 and 1.2630 levels.
by OctaFX_Official
USDJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=108.05. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=108.7. TP4: R2=108.9. Set the stoploss of these orders at breakout of S2=107.8. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=107.8. In this situation, there is an expectation to reach the target S3=107.1. Set the stoploss of reverse orders at breakout of S1=108.05. 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
There is a trading opportunity to buy in SILVERTrading suggestion: . There is a possibility of temporary retracement to suggested support line (14.60). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAGUSD 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 69. Take Profits: TP1= @ 15.068 TP2= @ 15.335 TP3= @ 15.630 SL= @ 14.260
OANDA:XAGUSDLong
by ForecastCity_EU
1
Don't miss the great buy opportunity in EURUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.1255). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURUSD 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 72. Take Profits: TP1= @ 1.1325 TP2= @ 1.1420 TP3= @ 1.1510 SL= @ 1.1200
Long
by ForecastCity_EU
EURUSD 1.1265 still the level to watchThe euro has advanced to a fresh monthly trading high against the US dollar following the release of much weaker than expected economic data from the United States economy. The EURUSD pair has firmed above the 1.1200 level, with bulls now needing to break above major technical resistance a the 1.1265 level. A bullish confirmed bullish breakout above the important 1.1265 level may trigger heavy technical buying towards the 1.1300 level. The EURUSD pair is only bullish while trading above the 1.1216 level, key technical resistance is found at the 1.1265 and 1.1300 levels. If the EURUSD pair trades below 1.1216 level, key technical support is found at the 1.1190 and 1.1165 levels.
by OctaFX_Official
USDCAD Intraday ForecastAs we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.348. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=1.343. TP4: S2=1.3395. Set the stoploss of these orders at breakout of R2=1.349. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.349. In this situation, there is an expectation to reach the target R3=1.3555. Set the stoploss of reverse orders at breakout of R1=1.348. 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!
Short
by ForecastCity_EU
1
EURUSD upside limited until ECBThe euro currency remains fairly well supported against the US dollar in early Monday trade, following a late-week sell-off in the US dollar index on Friday. The EURUSD pair could still recover above the 1.1200 level on weaker than expected US data later today, although the upside is likely to be limited until the ECB meeting. Bulls ideally need to negate the bearish pattern on the four-hour time frame, while bears need a strong move below the 1.1110 level. The EURUSD pair is only bearish while trading below the 1.1165 level, key technical support is found at the 1.1110 and 1.1060 levels. If the EURUSD pair holds above 1.1165 level, key technical resistance is found at the 1.1216 and 1.1230 levels.
by OctaFX_Official
USDJPY 107.40 bearish targetThe US dollar starts the new trading month under heavy downside pressure against the Japanese yen following the bearish breakout below the 109.00 level. Further losses in the USDJPY pair still appear possible as the bearish head and shoulders pattern has a target of 107.40 level. The United States ISM report later today is likely to have a big impact on the direction of the US dollar. The USDJPY pair is heavily bearish while trading below the 108.70 level, key support is found at the 108.00 and 107.70 levels. If the USDJPY pair trades above the 108.70 level, key technical resistance is found at the 109.00 and 109.30 levels.
by OctaFX_Official
USDJPY pattern completeThe US dollar has started to reverse direction against the Japanese yen after finding strong technical resistance from the 109.92 level. The direction of the USDJPY pair is increasingly linked to the bearish head and shoulders pattern on the four-hour time frame. Overall, the bearish head and shoulders pattern on the four-hour time frame and the releases are core PCE data from the US economy are the main themes to watch. The USDJPY pair is only bearish while trading below the 109.80 level, key support is found at the 109.00 and 108.40 levels. If the USDJPY pair trades above the 109.80 level, key technical resistance is found at the 109.92 and 110.30 levels.
by OctaFX_Official
GBPUSD defensively weakThe British pound is still trading tentatively above the 1.2600 level against the US dollar, despite a minor rebound from the 1.2580 area on Thursday. The four-hour time frame is showing that the bearish pattern can cause the GBPUSD pair to slide towards the 1.2450 level. The monthly price close for the GBPUSD pair will be key today alongside the release of US economic data. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is located at the 1.2550 and 1.2500 levels. If the GBPUSD pair holds above the 1.2600 level, key intraday resistance is found at the 1.2630 and 1.2660 levels.
by OctaFX_Official
USDCHF Intraday ForecastAs we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.01. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=1.005. TP4: S2=1.0035. Set the stoploss of these orders at breakout of R2=1.012. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.012. In this situation, there is an expectation to reach the target R3=1.0195. Set the stoploss of reverse orders at breakout of R1=1.01. 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!
Short
by ForecastCity_EU
GBPUSD technical meltdown below 1.2600The British pound has come under heavy downside pressure against the US dollar, following another bearish intraday reversal on Wednesday. The four-hour time frame is showing that the GBPUSD pair is close to the neckline of a large head and shoulders pattern. A break below the 1.2600 level will set-off the bearish pattern, which holds a downside target close to the 1.2450 level. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is located at the 1.2550 and 1.2500 levels. If the GBPUSD pair holds above the 1.2600 level, key intraday resistance is found at the 1.2640 and 1.2700 levels.
by OctaFX_Official
EURUSD needs to bounceThe euro is holding towards the worst trading levels of the week against the US dollar in early Thursday trade after the pair fell through key support, at 1.1150, on Wednesday. The EURUSD pair now needs to bounce from the 1.1130 region or it risks further downside towards the 1.1110 level and possibly lower. Overall, bulls need to close the four-hour candle above the 1.1200 level to change the bearish short-term bias. The EURUSD pair is heavily bearish while trading below the 1.1130 level, key technical support is now found at the 1.1110 and 1.1080 levels. If the EURUSD pair trades above the 1.1165 level, key technical resistance is found at the 1.1182 and 1.1200 levels.
by OctaFX_Official
EURUSD bearish pattern foundThe euro currency is under pressure against the US dollar on Wednesday after the pair failed to find buying interest above the pivotal 1.1190 level. A bearish head and shoulders pattern is now evident across the one-hour time frame, with the EURUSD pair slipping towards neckline support. Key technical support for EURUSD below the 1.1165 level is now found at the 1.1130 level. The EURUSD pair is heavily bearish while trading below the 1.1165 level, key technical support is now found at the 1.1130 and 1.1110 levels. If the EURUSD pair trades above the 1.1165 level, key technical resistance is found at the 1.1190 and 1.1235 levels.
by OctaFX_Official
USDJPY nearing breakout supportThe US dollar has slipped back towards the worst trading levels of the week against the Japanese yen currency due to recessionary fears coming from the US bond market. USDJPY bulls have also been unable to move price above the 109.60 level placing the emphasis back towards the downside. The four-hour time frame chart continues to highlight that a break below the 109.00 level will trigger heavy technical selling. The USDJPY pair is heavily bearish while trading below the 109.60 level, key support is found at the 109.00 and 108.40 levels. If the USDJPY pair trades above the 109.60 level, key intraday resistance remains at the 109.80 and 110.00 levels.
by OctaFX_Official
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.264. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.2685. TP4: R2=1.27. Set the stoploss of these orders at breakout of S2=1.2605. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2605. In this situation, there is an expectation to reach the target S3=1.25. Set the stoploss of reverse orders at breakout of S1=1.264. 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