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GBPUSD more weakness expectedThe British pound remains vulnerable to further losses against the US dollar this week, following another heavily bearish weekly price close. Negative UK PMI services data later today could push the GBPUSD pair lower for a major test of the 1.2000 support level. In the near-term, if sterling bulls can regain control, they are likely to face strong resistance from the 1.2250 level. The GBPUSD pair is bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2250 level, buyers may test towards the 1.2310 and 1.2350 levels.
by OctaFX_Official
ETHUSD triangle break loomsEthereum is attempting to build bullish momentum above the $210.00 level after another failed attempt to hold price below the $200.00 level. The lower time frames are showing that the ETHUSD pair is trading inside a triangle pattern, pointing to an upcoming technical break. The upside trendline is found at the $225.00 level, while trendline support comes in around the $200.00 level. If the ETHUSD pair trades below the $200.00 level, key support is found at the $188.00 and $165.00 levels. If the ETHUSD pair trades above the $225.00 level, key resistance is found at the $235.00 and $255.00 levels
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD limited bounceThe British pound has staged a bounce from the 1.2080 level against the US dollar, following a string of softer US macroeconomic data releases. Minor bounces back towards the 1.2200 resistance level may occur, although further downside towards the 1.2000 is still expected. Traders are also focused on the US monthly jobs report later today, with any downside shocks likely to be taken as negative for the US dollar. The GBPUSD pair is bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2150 level, buyers may test towards the 1.2189 and 1.2220 levels.
by OctaFX_Official
USDJPY watching 106.82The US dollar has reversed sharply against the Japanese yen after President Trump announced another round of trade tariffs on Chinese imports coming into America. The 106.40 level is now in focus, with the 106.82 level the foremost technical support before. Overall, a move below the 106.82 level will completely invalidate the bullish inverted head and shoulders pattern on the four-hour time frame 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 bearish while trading below the 108.60 level, key technical support is found at the 106.82 and 106.40 levels.
by OctaFX_Official
BTCUSD $10,750 key resistanceBitcoin bulls are growing increasingly confident after moving the price back above the psychological $10,000 resistance level. BTCUSD buyers could move price towards the $10,750 level, which represents the number one crypto’s former monthly pivot and also the July price open. Sellers need to move price back under the $9,440 level to encourage an attack on the $9,100 level. The BTCUSD pair is bullish while trading above the $9,800 level, key resistance is located at the $10,700 and $11,100 levels. If the BTCUSD pair trades under the $9,800 level, sellers may test towards the $9,400 and $9,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD below yearly rangeThe euro has fallen below the 1.1100 level against the US dollar, marking a bearish monthly price close beneath the bottom of its yearly price range. The EURUSD pair could eventually target towards the 1.0900 level now the range is breached. Key downside target to watch in the interim for the EURUSD pair is located at the 1.1000 and 1.0980 support levels. The EURUSD pair is heavily bearish while trading below the 1.1100 level, key support is found at the 1.1000 and 1.0980 levels. If the EURUSD pair trades above the 1.1100 level, bulls could test back towards the 1.1125 and 1.1160 levels.
by OctaFX_Official
GBPUSD 1.2000 on the cardsThe British pound has taken a heavy tumble from the 1.2200 level against the US dollar, leaving the multi-year low for the pair exposed. A bearish breakdown below the 1.2110 level should see the GBPUSD pair testing towards the 1.1985 to 1.2000 support region. The UK manufacturing PMI later today and Bank of England rate decision could also be bearish for the British pound. If the GBPUSD pair trades above the 1.2180 level, key resistance is found at the 1.2250 and 1.2310 levels. If the GBPUSD pair breaks below the 1.2110 level, sellers may test towards the 1.2050 and 1.2000 levels.
by OctaFX_Official
EURUSD running out of timeThe euro remains technically weak against the US dollar, further placing the pair in a vulnerable position going into the FOMC interest rate decision later today. Bulls inability to break the 1.1160 resistance level is placing the emphasis back towards more EURUSD downside. Only a sustained move above the 1.1187 resistance level can put the pair on more certain footing ahead of the main event later today. The EURUSD pair is bearish while trading below the 1.1187 level, key support is found at the 1.1100 and 1.1050 levels. If the EURUSD pair trades above the 1.1187 level, bulls could test back towards the 1.1215 and 1.1244 levels.
by OctaFX_Official
USDJPY awaiting trade talks updateThe US dollar has pulled back from the 109.00 level against the Japanese yen currency, following bearish comments from President Trump towards Sino-US trade talks. A bullish inverted head and shoulders remain in play, with the 110.00 level still the favored target. Continued technical failure before the 109.00 resistance level will eventually start to weigh on the USDJPY pair. The USDJPY pair is bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 110.00 level. The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.40 and 108.00 levels.
by OctaFX_Official
LTCUSD watching monthly closeLitecoin remains technically weak headed into the monthly price close, as the popular crypto struggles to regain bullish momentum. A large monthly reversal candle and a monthly price close below the psychological $100.00 level should be considered bearish for the LTCUSD pair. Overall, continued selling down towards the $70.00 level remains the favoured scenario. The LTCUSD pair is only bullish while trading above the $100.00 level, key resistance is found at the $105.00 and $120.00 levels. If the LTCUSD pair trades below the $100.00 level, key support is found at the $88.00 and $70.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
ETHUSD rejections weighEthereum is starting to appear technically weak as the second-largest cryptocurrency continues to suffer multiple rejections from the $220.00 to $225.00 resistance area. The major catalyst for ETHSD downside will likely be a breakdown in the BTCUSD pair. Overall, more downside is favored until we see the $225.00 level convincingly broken and the bearish head and shoulders pattern invalidated. If the ETHUSD pair trades below the $200.00 level, key support is found at the $188.00 and $170.00 levels. If the ETHUSD pair trades above the $225.00 level, key resistance is found at the $235.00 and $255.00 levels
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD 1.1187 breakout neededThe euro is continuing to move higher against the US dollar after sellers failed to move price below the key 1.1100 support level. EURUSD bulls need to move price above the 1.1187 level to encourage further buying towards the 1.1215 resistance level. Overall, bearish momentum will start to grow if bulls fail to overcome interim resistance around EURUSD pairs former technical base, at 1.1160. The EURUSD pair is only bearish while trading below the 1.1160 level, key support is found at the 1.1100 and 1.1050 levels. If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1187 and 1.1215 levels.
by OctaFX_Official
USDJPY 110.00 likely targetThe US dollar continues to move higher against the Japanese yen, with the pair moving to a fresh monthly trading high on Tuesday. The 110.00 level is the preferred upside target for the USDJPY pair now that the 109.00 resistance level has been breached. USDJPY bears may also be looking to sell into strength around the 110.00 level if Sino-U.S trade talks fail to find a resolution. The USDJPY pair is bullish while trading above the 108.60 level, key resistance is found at the 109.55 and 110.00 level. The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.40 and 108.00 levels.
by OctaFX_Official
EURUSD bulls need to defend 1.1100The euro has started the new trading week slightly firmer against the US dollar as bulls continue to defend the current yearly trading low. If bulls continue to defend the 1.1100 support level the EURUSD pair could eventually reverse back towards the 1.1215 area. A move under the 1.1100 level should see the EURUSD pair performing a bearish breakout towards the 1.1050 level. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1100 and 1.1050 levels. If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1185 and 1.1215 levels.
by OctaFX_Official
BTCUSD $9,100 breakout neededBitcoin is starting to turn more bearish on the daily time frame after a series of bearish price closes below the BTCUSD pair’s former monthly trading low. A breakout below the $9,100 level exposes the BTCUSD pair to further losses towards at last the $8,400 level. Bulls need to move price above the $10,750 resistance level to encourage another attack towards the $11,100 level. The BTCUSD pair is only bullish while trading above the $10,750 level, key resistance is located at the $11,100 and $11,500 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,100 and $8,400 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD 1.2350 major supportThe British pound has opened the week on the back foot against the greenback after a heavily bearish price close below its former yearly trading low. The 1.2350 level offers the most significant technical support for the GBPUSD pair below the 1.2380 level. Bulls have major work ahead to move the GBPUSD pair back the 1.2525 resistance level to shift the bearish weekly bias. The GBPUSD pair is only bullish while trading above the 1.2525 level, key resistance is located at the 1.2570 and 1.2610 levels. If the GBPUSD pair trades below the 1.2400 level, key support is found at the 1.2350 and 1.2310 levels.
by OctaFX_Official
EURUSD squeeze continuesThe euro is starting to probe the middle of its three-day trading range against the US dollar as financial markets remain unimpressed with the lack of action from the ECB on Thursday. The risk is now to the upside for the EURUSD pair, with a further short squeeze towards at least the 1.1210 level still possible. US GDP later today is likely to prompt the next strong directional move in the EURUSD pair. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1100 and 1.1050 levels. If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1185 and 1.1210 levels.
by OctaFX_Official
ETHUSD rejected from $220.00Ethereum has once again been rejected from the $220.00 level after bouncing sharply from its weekly pivot point on Wednesday. Technical failure before the $220.00 level is likely to prompt yet another critical technical test of $200.00 support zone. A sustained break below the $200.00 level should prompt a strong move lower towards at least the $185.00 resistance level. If the ETHUSD pair trades above the $220.00 level, key resistance is found at the $235.00 and $250.00 levels. If the ETHUSD pair trades below the $220.00 level, key support is found at the $200.00 and $185.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD 1.2440 criticalThe British pound is starting to lose its recent gains against the US dollar after sellers forced the pair below the 1.2480 support level. The GBPUSD pair may launch its next upside move towards the 1.2550 level if bulls can hold price above the 1.2440 level. Bears need to hold price below the 1.2440 level to encourage more traders to enter back into the GBPUSD short trade. The GBPUSD pair is only bullish while trading above the 1.2480 level, key resistance is located at the 1.2525 and 1.2550 levels. If the GBPUSD pair trades below the 1.2480 level, key support is found at the 1.2460 and 1.2440 levels.
by OctaFX_Official
GBPUSD only bullish above 1.2480The British pound staged a solid rebound above the 1.2500 level against the US dollar on Wednesday, after bears failed to hold price below the 1.2440 level. The GBPUSD pair could start to test towards at least the 1.2600 level if bulls break through the 1.2525 resistance later today. Sellers need to hold price below the 1.2480 level to change the intraday sentiment towards the GBPUSD pair. The GBPUSD pair is only bullish while trading above the 1.2480 level, key resistance is located at the 1.2525 and 1.2600 levels. If the GBPUSD pair holds below the 1.2480 level, key support is found at the 1.2460 and 1.2430 levels.
by OctaFX_Official
BTCUSD $9,100 breakout neededBitcoin is lacking a clear direction over the short-term, as the BTCUSD pair continues to struggle around the $10,000 resistance level. BTCUSD bears now need to break the $9,100 level to trigger the next move lower towards the $8,400 support level. Buyers currently have the upper hand after a sharp reversal from the $9,450 level, placing the $10,350 level in focus. The BTCUSD pair is only bullish while trading above the $10,350 level, key resistance is located at the $10,750 and $11,100 levels. If the BTCUSD pair trades under the $9,100 level, sellers may test towards the $8,400 and $8,000 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD key levels to watchThe euro remains under constant downside pressure against the US dollar on Thursday as expectations remain high that the ECB will announce the timing of the next QE package. The key EURUSD downside levels to watch are the 1.1107 and 1.1050 levels. To the upside, a sustained move above the 1.1160 level could prompt a rally towards the 1.1200 level, although the 1.1240 level is the key upside resistance level. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1107 and 1.1050 levels. If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1200 and 1.1240 levels.
by OctaFX_Official
EURUSD PMI data in focusThe euro currency has turned heavily bearish over the medium-term against the US dollar after breaking through the 1.1160 support level on Tuesday. Continued weakness below the 1.1160 level may prompt a test of the 1.1110 support level during today’s European trading session. Market participants are now waiting for the release of PMI Manufacturing data from the eurozone. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1110 and 1.1050 levels. If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1180 and 1.1200 levels.
by OctaFX_Official