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ETHUSD inside neutral triangleEthereum has recovered higher in early Friday trade after finding strong technical support from the $220.00 level. The ETHUSD pair is currently trapped within a neutral triangle pattern on the four-hour time frame. A bullish breakout from the triangle pattern would take the ETHUSD towards the $330.00 level, while a bearish breakout may see a move towards the $180.00 support level. The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $275.00 and $330.00 levels. If the ETHUSD pair trades below the $245.00 level, key support is found at the $220.00 and $180.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
BTCUSD bullish pattern buildingBitcoin is trading towards the worst levels of the week in early Thursday trade as BTCUSD bears attempt to attack towards downside support once again. The four-hour time frame is showing that an inverted head and shoulders pattern is building. The bullish pattern has an upside target that would take the BTCUSD pair above the psychological $10,000 resistance level. The BTCUSD pair is bullish while trading above the $8,000 level, key resistance is found at the $8,500 and $10,000 levels. If the BTCUSD pair trades under the $8,000 level, sellers may test towards the $7,400 and $7,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD 1.2623 now key supportThe British pound has staged a minor technical recovery against the US dollar after the pair quickly fell towards the 1.2623 level over reports that British PM Theresa May could soon quit. Further medium-term weakness is still expected while the GBPUSD pair trades below the 1.2660 level, with the 1.2550 level is still the overall bearish target. Bulls will need to move price above the 1.2756 resistance level to shift the extreme negative sentiment surrounding the pair. The GBPUSD pair is heavily bearish while trading below the 1.2660 level, key support is located at the 1.2623 and 1.2550 levels. If the GBPUSD pair trades above the 1.2660 level, key intraday resistance is found at the 1.2710 and 1.2756 levels.
by OctaFX_Official
USDJPY slight bearish biasThe US dollar is under slight downward pressure against the Japanese yen currency on Thursday as the pair continues to correct lower after finding strong resistance above the 110.60 level. Further losses below the 110.20 support level should trigger additional intraday weakness towards the psychological 110.00 level. The 110.90 level is now the strongest form of weekly technical resistance for the USDJPY pair above the 110.60 level. The USDJPY pair is intraday bullish while trading above the 110.30 level, key resistance is found at the 110.60 and 110.90 levels. If the USDJPY pair trades below the 110.30 level, key intraday support is found at the 110.20 and 110.00 levels.
by OctaFX_Official
ETHUSD breakout loomsEthereum is preparing for its next strong direction move as the second largest cryptocurrency by market capitalization consolidates around the $245.00 level. The cryptocurrency may target the $330.00 level if can rally the ETHUSD pair above the resistance $280.00 level. Sellers could target the $190.00 support level if the ETHUSD pair falls below the current weekly trading low. The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $280.00 and $330.00 levels. If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD awaiting inflationThe British pound has reversed back towards 1.2700 level against the US dollar after briefing spiking above the 1.2800 after reports that the UK may hold a second Brexit referendum. The GBPUSD pair has a bearish intraday bias while trading below the 1.2756 level and may remain weak due to uncertainty over the European elections. Technical indicators on the four-hour time frame still suggest that the GBPUSD pair can trade lower. The GBPUSD pair is bearish while trading below the 1.2756 level, key support is located at the 1.2690 and 1.2660 levels. If the GBPUSD pair trades above the 1.2756 level, key intraday resistance is found at the 1.2772 and 1.2810 levels.
by OctaFX_Official
USDJPY bullish above 110.60The US dollar has staged a strong upside recovery against the Japanese yen currency, with the pair reaching its upside corrective target. The USDJPY pair has a weekly bullish bias while trading above the 110.60 level and may target the 111.00 level if buyers can maintain upside pressure. Technical failure around the 110.60 level will likely prompt a test of the 110.20 support level. The USDJPY pair is intraday bullish while trading above the 110.66 level, key resistance is found at the 111.00 and 111.30 levels. If the USDJPY pair trades below the 110.60 level, key intraday support is found at the 110.20 and 109.80 levels.
by OctaFX_Official
GBPUSD weakness persistsThe British pound has weakened back towards the 1.2700 support level against the US dollar after the pair found strong selling interest from the 1.2756 level on Monday. Technical selling in the GBPUSD pair is likely to accelerate if bears can force price below the 1.2700 level. The 1.2662 level is the major weekly support level to watch below the 1.2700, with the GBPUSD pair below offering only limited technical support below. The GBPUSD pair is heavily bearish while trading below the 1.2700 level, key support is located at the 1.2660 and 1.2600 levels. If the GBPUSD pair trades above the 1.2756 level, key intraday resistance is found at the 1.2772 and 1.2790 levels.
by OctaFX_Official
LTCUSD bullish above $85.00Litecoin is holding above major technical support in early Tuesday trade after the sixth largest cryptocurrency by market capitalization was rejected from just above the $100.00 level. If LTCUSD bulls can hold price above the $85.00 level another test of the $100.00 level seems likely. Overall, the bullish inverted head and shoulders pattern on the four-hour time frame still has an upside target of at least $130.00. The LTCUSD pair is only bullish while trading above the $85.00 level, key resistance is found at the $100.00 and $130.00 levels. If the LTCUSD pair trades below the $85.00 level, key support is found at the $77.00 and $70.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
USDJPY chasing bullish targetThe US dollar has recovered back above 110.00 level against the Japanese yen currency following a brief correction towards the 109.70 support level. USDJPY bulls now appear to be launching a fresh attack towards key breakout resistance, at the 110.60 resistance level. Technical indicators on the four-hour time frame are still pointing higher as short-term bullish momentum continues to grow. The USDJPY pair is bullish while trading above the 109.66 level, key resistance is found at the 110.20 and 110.60 levels. If the USDJPY pair trades below the 110.00 level, key intraday support is found at the 109.66 and 109.00 levels.
by OctaFX_Official
BTCUSD bulls back in controlBitcoin has recovered sharply higher in early Monday trade after the number one cryptocurrency found strong technical support from just below the $6,500 level. If buyers can breach the current yearly trading high the BTCUSD pair could eventually test towards the $10,000 resistance level. The daily time frame is showing that key support from the Ichimoku indicator is located at the $7,100 level. The BTCUSD pair is strongly bullish while trading above the $8,000 level, key resistance is found at the $8,500 and $10,000 levels. If the BTCUSD pair trades under the $8,000 level, sellers may test towards the $7,100 and $6,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD vulnerable below 1.2772The British pound has opened the new trading week on soft footing against the US dollar, with the pair now slipping closer to the 1.2700 level. If the 1.2700 support level is breached, GBPUSD sellers are likely to target towards the important 1.2662 level. Overall, the GBPUSD pair is vulnerable to heavy technical selling while trading below the pivotal 1.2772 resistance level. The GBPUSD pair is heavily bearish while trading below the 1.2772 level, key support is found at the 1.2700 and 1.2662 levels. If the GBPUSD pair trades holds above the 1.2772 level, key intraday resistance is found at the 1.2810 and 1.2830 levels.
by OctaFX_Official
USDJPY 110.60 major resistanceThe US dollar is trading back above the 110.00 level against the Japanese yen currency following a renewed bid tone surrounding the greenback. If USDJPY bulls can continue to hold price above the 110.00 level we may see another technical attempt towards the resistance 110.60 level. The 109.66 support level now becomes the key weekly pivot point for the USDJPY pair. The USDJPY pair is only bearish while trading below the 109.66 level, key support is found at the 109.00 and 108.40 levels. If the USDJPY pair holds above the 109.66 level, key intraday resistance is found at the 110.00 and 110.60 levels.
by OctaFX_Official
ETHUSD $245.00 pivotal supportEthereum remains well supported in early Friday trade, with the second largest cryptocurrency by market capitalization trading close to major intraday support. The daily time frame is showing that a large bullish inverted head and shoulders pattern is now present. If ETHUSD bulls can hold price above the $245.00 level the cryptocurrency could continue its recent breakout rally. The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $280.00 and $330.00 levels. If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $210.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD 1.1165 breakdown levelThe euro currency has fallen to a fresh weekly trading low against the US dollar after yet another technical failure above the 1.1200 resistance level. If EURUSD sellers can hold price the 1.1165 level the pair is likely to weaken towards the 1.1130 support level. Buyers will need to move price above the 1.1216 resistance level in order to change the bearish intraday sentiment towards the EURUSD. The EURUSD pair is heavily bearish while below the 1.1165 level, key technical support is found at the 1.1130 and 1.1110 levels. If the EURUSD pair moves above the 1.1190 level, key technical resistance is found at the 1.1216 and 1.1264 levels.
by OctaFX_Official
USDJPY rejected from 110.00The US dollar is once turning lower against the Japanese yen currency after the recent rally in the pair found strong resistance from the 110.00 level. If sellers can move price back under the 109.66 level technical selling in the USDJPY pair is likely to increase. Technical indicators on the four-hour time frame have now corrected back to neutral and are ready for the next directional move. The USDJPY pair is only bearish while trading below the 109.66 level, key support is found at the 109.00 and 108.40 levels. If the USDJPY pair holds above the 109.66 level, key intraday resistance is found at the 110.00 and 110.20 levels.
by OctaFX_Official
EURUSD bearish below 1.1216The euro is testing towards the 1.1200 level against the US dollar after bulls once again failed to break above the pairs former weekly trading high. The overall sentiment towards the EURUSD pair is intraday bearish while trading below the 1.1216 level. Buyers need to stabilize the EURUSD pair above the 1.1230 resistance level to encourage the next wave of strong buying interest. The EURUSD pair is only bullish while trading above the 1.1216 level, key technical resistance is found at the 1.1230 and 1.1264 levels. If the EURUSD pair moves below the 1.1216 level, key technical support is found at the 1.1190 and 1.1164 levels.
by OctaFX_Official
GBPUSD 1.2890 support now keyThe British pound has erased its strong weekly gains against the US dollar following renewed demand for the greenback amongst investors. The 1.2890 level is the key downside level to watch intraday, with technical selling likely to increase if bears hold price below this key area. Bulls now need to move price above the 1.2950 level to stabilize the GBPUSD pair from further intraday declines. The GBPUSD pair is bearish while trading below the 1.2950 level, key support is located at the 1.2890 and 1.2866 levels. If the GBPUSD pair trades above the 1.2950 level, key intraday resistance is found at the 1.2966 and 1.2990 levels.
by OctaFX_Official
LTCUSD faces formidable resistanceLitecoin is once again testing towards the best levels of 2019, with the sixth largest cryptocurrency facing formidable resistance from the $100.00 level. The Ichimoku indicator is showing that the LTCUSD pair is pushing through cloud resistance on the weekly time frame. Sellers need to move the price below the $77.00 level to shift the current bullish bias surrounding the LTCUSD pair. The LTCUSD pair is only bullish while trading above the $77.00 level, key resistance is found at the $100.00 and $130.00 levels. If the LTCUSD pair trades below the $77.00 level, key support is found at the $65.00 and $58.00 levels.
COINBASE:LTCUSD
by OctaFX_Official
ETHUSD $230.00 soft targetEthereum has moved to a new 2019 trading high, with the second largest cryptocurrency by market capitalization receiving a boost from the recent breakout rally in Bitcoin. The first bullish target for the ETHUSD pair is the $230.00 level, with the $270.00 level extended weekly resistance. Sellers need to move price below the $185.00 level to shift the strong bullish sentiment towards the ETHUSD pair. The ETHUSD pair is bullish while trading above the $185.00 level, key resistance is found at the $230.00 and $270.00 levels. If the ETHUSD pair trades below the $185.00 level, key support is found at the $175.00 and $168.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
USDJPY 108.49 next big levelThe US dollar has fallen to a fresh monthly trading low against the Japanese yen currency after the Chinese government announced retaliatory measures to US trade tariffs. The 108.49 level is major weekly support if sellers move the USDJPY pair below the 109.00 support level. The USDJPY pair offers only limited technical support until the 107.90 level if the 108.49 level is breached. The USDJPY pair is heavily bearish while trading below the 109.50, key support is found at the 109.00 and 108.49 levels. If the USDJPY pair trades above the 109.50 level, key intraday resistance is found at the 109.80 and 110.00 levels.
by OctaFX_Official
GBPUSD awaiting key dataThe British pound has started to recover higher against the US dollar ahead of the release of important United Kingdom Wage and Earnings data later this morning. The GBPUSD pair has a bullish intraday bias while trading above the 1.3064 level and could start to target the 1.3100 level. If the GBPUSD pair falls below the 1.2990 level, sellers are likely to target the 1.2966 support level. The GBPUSD pair is intraday bullish while trading above the 1.3064 level, key resistance is located at the 1.3100 and 1.3155 levels. If the GBPUSD pair trades below the 1.2990 level, key intraday support is found at the 1.2966 and 1.2925 levels.
by OctaFX_Official
BTCUSD $8,000 major resistanceBitcoin has broken through the $7,000 resistance level, with the number one cryptocurrency by market capitalization gaining nearly twenty percent since it moved above the $6,000 level. The $7,500 level offers strong technical resistance, although the $8,000 level is seen as formidable weekly resistance. The strong move higher hasnow created a large inverted head and shoulders on the daily time frame. The BTCUSD pair is bullish while trading above the $6,500 level, key intraday resistance is found at the $7,500 and $8,000 levels. If the BTCUSD pair trades under the $6,500 level, sellers may test towards the $6,300 and $6,000 support levels.
BITFINEX:BTCUSD
by OctaFX_Official