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GBPUSD awaiting inflation dataThe British pound remains under pressure towards the key 1.2560 level against the US dollar, ahead of the release of UK inflation data this morning. The 1.2560 level is a key pivot for the GBPUSD pair, with further intraday weakness expected if bulls fail to secure price above this area. An upcoming test of the 1.2500 level is still expected due to broad-based strength in the US dollar index. The GBPUSD pair is heavily bearish while trading below the 1.2560 level, key support is found at the 1.2500 and 1.2460 levels. If the GBPUSD pair trades above the 1.2560 level, key resistance is found at the 1.2600 and 1.2655 levels.
by OctaFX_Official
GBPUSD stops triggeredThe British pound has slumped to its weakest level against the greenback since January 3rd this year, after bears moved the pair below the key 1.2560 level. Continued weakness below the 1.2500 level is increasingly likely as UK political uncertainty is driving the pair lower. GBPUSD bears are likely to aim for the December low, while bulls may look for a better risk-reward entry if this key low is unable to be broken. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2500 and 1.2460 levels. If the GBPUSD pair trades above the 1.2600 level, key resistance is found at the 1.2630 and 1.2655 levels.
by OctaFX_Official
EURUSD looking at 1.1260The euro is on the rise against the US dollar in early Tuesday trade as bulls once again failed to breach the key swing-low, at 1.1200. The 1.1260 level remains the next upside target for EURUSD bulls, with the 1.1245 level the interim resistance barrier they need to clear. The four-hour time frame is also showing a large bullish pattern, with the 1.1500 level the overall upside target. The EURUSD pair is only bearish while trading below the 1.1218 level, key technical support is found at the 1.1207 and 1.1200 levels. If the EURUSD pair trades above the 1.1218 level, buyers may test the 1.1245 and 1.1260 levels.
by OctaFX_Official
LTCUSD watching bearish patternLitecoin has failed to follow Bitcoin higher and rally to a fresh 2019 trading high, with the popular crypto so far finding resistance from the just below the $145.00 level. The one-hour time frame is showing that bulls need to make a new high as a bearish head and shoulders pattern is in play. Overall, the LTCUSD pair is still extremely bullish while trading above the important $125.00 level. The LTCUSD pair is only bullish while trading above the $125.00 level, key resistance is found at the $145.00 and $160.00 levels. If the LTCUSD pair trades below the $125.00 level, key support is found at the $120.00 and $100.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
BTCUSD $10,000 expectedBitcoin bulls have returned in force after breaking through the $9,000 level and moving the number one crypto to a new 2019 trading high. The BTCUSD pair offers limited resistance above the $9,300 level, leaving the $10,000 level a likely near-term target. Only a sustained bearish move below the $8,400 support level will put the recent up move in the BTCUSD into question. The BTCUSD pair is only bullish while trading above the $8,400 level, key resistance is located at the $9,300 and $10,00 levels. If the BTCUSD pair trades under the $8,400 level, sellers may test towards the $8,200 and $8,000 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD 1.1200 bulls lurkingThe euro has started the new trading week on the back foot against the US dollar after the pair suffered its worst one-day drubbing since March this year. Bulls now need to move the EURUSD away from the 1.1200 level and start to close the pair above the 1.1260 level ahead of the FOMC meeting. Weakness below the key 1.1200 level may prompt another technical test of the 1.1170 to 1.1155 zone. The EURUSD pair is only bearish while trading below the 1.1260 level, key technical support is found at the 1.1200 and 1.1170 levels. If the EURUSD pair trades above the 1.1260 level, buyers may test the 1.1280 and 1.1310 levels.
by OctaFX_Official
GBPUSD 1.2560 level criticalThe British pound has opened the new trading week under pressure against the US dollar after a heavily bearish weekly close under the 1.2600 support level. If GBPUSD sellers break the 1.2560 support level the pair could slide toward the 1.2480 region. Any intraday bounces higher are expected to find meet with strong technical selling interest from the 1.2630 to 1.2655 levels. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2560 and 1.2480 levels. The GBPUSD pair is only bullish while trading above the 1.2660 level, key resistance is located at the 1.2680 and 1.2710 levels. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2560 and 1.2480 levels.
by OctaFX_Official
BTCUSD working through cloud resistanceBitcoin has been steadily working through Ichimoku cloud resistance on the four-hour time frame as the BTCUSD pair enjoys a late-week bid. The Ichimoku cloud is also showing that future key resistance for the BTCUSD pair is located around the $8,800 level. Bulls first need to break through the $8,400 resistance level to encourage the next round of technical buying. The BTCUSD pair is only bullish while trading above the $8,400 level, key resistance is located at the $8,800 and $9,000 levels. If the BTCUSD pair trades under the $8,200 level, sellers may test towards the $8,000 and $7,700 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD 1.1260 breakdown supportThe euro currency has slumped to a fresh weekly trading lower against the US dollar after the pair broke through the 1.1280 support barrier. Sustained losses below the 1.1260 level may trigger the next heavy EURUSD sell-off towards at least the 1.1235 support zone. Worse than expected US retail sales data later today may help to send the US dollar index lower and give the EURUSD a boost back towards the 1.1300 level. The EURUSD pair is only bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1235 levels. If the EURUSD pair trades above the 1.1300 level, buyers may test the 1.1321 and 1.1347 levels.
by OctaFX_Official
GBPUSD fails at 1.2700 againThe British pound is once again testing towards the 1.2660 level against the US dollar after suffering another strong rejection from the 1.2700 resistance level. Bulls are struggling to keep the GBPUSD pair above the 1.2700 level, with sellers holding the upper hand while price trades below this key level. Overall, a sustained break above the 1.2710 level may inspire another technical test towards the 1.2750 resistance area. The GBPUSD pair is only bullish while trading above the 1.2700 level, key resistance is located at the 1.2710 and 1.2750 levels. The GBPUSD pair is only bearish while trading below the 1.2700 level, key intraday support remains at the 1.2665 and 1.2630 levels.
by OctaFX_Official
ETHUSD still in the danger zoneEthereum has returned towards the $260.00 resistance level as the second largest cryptocurrency tracks the broader market higher on Thursday. Ethereum is still in the danger zone while trading below the $280.00 as the bearish head and shoulders pattern still remaining valid. Overall, the ETHUSD pair is still tracking BTCUSD fairly closely this week and has yet to break the strong correlation. If the ETHUSD pair trades above the $260.00 level, key resistance is found at the $280.00 and $320.00 levels. If the ETHUSD pair fails from the $260.00 level, key support is found at the $230.00 and $205.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD needs to make a new highThe euro has fallen back towards the lower end of its weekly trading range against the US dollar after bulls failed to move price above its former weekly trading high. The EURUSD pair is under technical pressure while trading back under the 1.1310 level and risks further losses towards the 1.1265 level. Overall, the US dollar index is starting to retrace last weeks losses, forcing majors lower against the greenback. The EURUSD pair is only bearish while trading below the 1.1310 level, key technical support is found at the 1.1280 and 1.1260 levels. If the EURUSD pair trades above the 1.1310 level, buyers may test the 1.1330 and 1.1347 levels.
by OctaFX_Official
GBPUSD only bearish below 1.2710The British pound has reversed sharply from the 1.2750 level against the US dollar after UK Parliament was unable to block a hard-Brexit on Wednesday. The bullish pattern on the four-hour time frame still remains valid, with the 1.2655 level the foremost support zone. Bulls need to move price back above the 1.2710 level to install the intraday bullish sentiment towards the GBPUSD pair. The GBPUSD pair is only bullish while trading above the 1.2710 level, key resistance is located at the 1.2755 and 1.2820 levels. The GBPUSD pair is only bearish while trading below the 1.2710 level, key intraday support remains at the 1.2655 and 1.2610 levels.
by OctaFX_Official
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
LTCUSD could hit $160.00Litecoin has advanced to fresh 2019 trading high following a bullish technical breakout above the $120.00 resistance level on Tuesday. The LTCUSD pair is now marching forward, with the $134.00 and $160.00 levels the two major bullish targets ahead. The daily time frame is clearly showing that a huge inverted head and shoulders pattern could now be in the forming. The LTCUSD pair is only bullish while trading above the $110.00 level, key resistance is found at the $134.00 and $160.00 levels. If the LTCUSD pair trades below the $110.00 level, key support is found at the $100.00 and $90.00 levels.
BITSTAMP:LTCUSD
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
ETHUSD right shoulder completeEthereum has slipped backed to key neckline support as the second largest cryptocurrency continues to trade in lockstep with Bitcoin. The four-hour time frame is showing that a right-hand shoulder has now formed, which completes the bearish head and shoulders pattern. Sustained moves below the $230.00 level are likely to provoke technical selling, with the $205.00 level the most prominent downside target. If the ETHUSD pair trades below the $230.00 level, key support is found at the $205.00 and $190.00 levels. If the ETHUSD pair holds above the $230.00 level, key resistance is found at the $255.00 and $285.00 level.
BITSTAMP:ETHUSD
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
ETHUSD $230.00 downside level to watchEthereum is back under pressure on Friday, with the second largest cryptocurrency by market capitalization testing towards neckline support. The four-hour time frame highlights that bearish breakdown towards the $205.00 level is possible if price slips below the $230.00 level. Bulls ideally need to lift the ETHUSD pair above the $280.00 level to negate the bearish head and shoulders pattern. The ETHUSD pair is intraday bearish while trading below the $230.00 level, key support is found at the $220.00 and $205.00 levels. If the ETHUSD pair trades above the $230.00 level, key resistance is found at the $245.00 and $280.00 levels.
BITSTAMP:ETHUSD
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
BTCUSD at a crossroad in the short-termBitcoin remains technically weak in the short-term, with the number one cryptocurrency so far finding weekly support from the $7,400 level. The one-hour time frame is showing that the BTCUSD pair is truly at a crossroad, with both a head and shoulders and inverted head and shoulders patterns now present. The BTCUSD pair can trade in a broad range between the $7,400 to $8,400 levels before the next directional move becomes clear. The BTCUSD pair is only bullish while trading above the $8,400 level, key resistance is found at the $9,000 and $9,600 levels. If the BTCUSD pair trades under the $7,400 level, sellers may test towards the $7,000 and $6,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official