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Octafx

EURUSD 1.1030 insightThe euro bulls have been unable to defend the 1.1065 level against the US dollar, which has pushed the pair back towards the 1.1050 level. It is worth reiterating that the loss of the 1.1065 support level may trigger heavy selling in the EURUSD pair towards the 1.1030 or 1.1010 level. Overall, intraday strength in the US dollar index is a key factor behind weakness in the EURUSD. • The EURUSD pair is only bearish while trading below the 1.1120 level, key support is found at the 1.1030 and 1.1010 levels. • The EURUSD pair is only bullish while trading above the 1.1120 level, key resistance is found at the 1.1150 and 1.1170 levels.
by OctaFX_Official
EURUSD downside biasThe euro currency is under pressure against the US dollar on Wednesday, following a bearish move below the 1.1110 technical level. A breakout below the 1.1065 support level could spark a deeper drop in the EURUSD pair towards the 1.1030 level. Overall, traders may use a technical pullback towards the 1.1000 level as an opportunity to build medium-term EURUSD long positions. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1065 and 1.1030 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1150 and 1.1170 levels.
by OctaFX_Official
USDJPY 109.30 test comingThe US dollar continues to press higher against the Japanese yen currency, following the recent reversal from the 107.90 support. An upcoming technical test of the 109.30 level is on the horizon, with a breakout above the October high likely to spark a rally towards the 110.00 level. Overall, the daily time frame shows the presence of an extremely large inverted head and shoulders pattern. • The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.30 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 107.90 and 107.30 levels
by OctaFX_Official
ETHUSD on the moveEthereum is pressing higher on Wednesday, following a bullish breakout above a symmetrical triangle pattern on the lower time frames. The $200.00 level remains the near-term upside objective, although the $250.00 resistance level is the main objective. Only a sustained move below the $180.00 level can negate the bullish intraday sentiment surrounding the ETHUSD pair. • If the ETHUSD pair trades above the $180.00 level, key resistance is found at the $200.00 and $250.00 levels. • If the ETHUSD pair trades below the $180.00 level, key support is found at the $170.00 and $155.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD bearish under 1.2925The British pound is starting to appear weak against the US dollar after sellers forced the price below the important 1.2925 support level. The GBPUSD pair is at a serious risk of falling back towards the 1.2810 support level while trading below the 1.2925 level. Overall, GBPUSD buyers need to gain traction above the 1.2925 level to force a major technical test of the 1.2990 level. • If the GBPUSD pair trades below the 1.2925 level, key support is found at the 1.2810 and 1.2720 levels. • If the GBPUSD pair trades above the 1.2925 level, key resistance is found at the 1.2990 and 1.3020 levels.
by OctaFX_Official
EURUSD 1.1150 pivotThe euro currency has fallen below the 1.1150 level against the US dollar, placing further downside in the pair back into focus. Sustained weakness below the 1.1150 level for the EURUSD pair is likely to prompt a stronger decline back towards the 1.1070 support level. Caution is still warranted, as buyers could still force a technical test of the 1.1210 level if the 1.1110 level is defended. • The EURUSD pair is only bearish while trading below the 1.1150 level, key support is found at the 1.1110 and 1.1070 levels. • The EURUSD pair is only bullish while trading above the 1.1150 level, key resistance is found at the 1.1180 and 1.1210 levels.
by OctaFX_Official
LTCUSD $68.00 targetLitecoin has started to firm above the $60.00 level on Tuesday as positive sentiment starts to spread through the cryptocurrency market. Short-term LTCUSD bulls are now back in control while price trades above the $60.00 level and could start to target the $68.00 level. Overall, the medium-term upside objective for LTCUSD buyers is located just below the $90.00 resistance level. • If the LTCUSD pair trades below the $60.00 level, key support is found at the $55.00 and $47.00 levels. • If the LTCUSD pair trades above the $60.00 level, key resistance is found at the $68.00 and $90.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD 1.1210 major resistanceThe euro currency continues to trade around the 1.1160 level against the US dollar after the US monthly jobs report failed to provoke a major breakout in the pair. Going forward, the EURUSD pair faces major upcoming technical resistance from the 1.1210 level. Failure to overcome the 1.1210 level could prompt a bearish retracement back towards the 1.1070 support level. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1070 and 1.1040 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1210 levels.
by OctaFX_Official
GBPUSD breakout neededThe British pound is struggling to move away from its recent short-term trading range against the US dollar, following another failed attempt to move past the 1.3000 level last week. GBPUSD sellers may look to fade the GBPUSD pair this week if the price continues to fail around the 1.2980 to 1.3000 technical area. Alternatively, if a breakout above the 1.3000 level occurs this week, the GBPUSD pair could rally towards the 1.3080 area. • If the GBPUSD pair trades below the 1.2925 level, key support is found at the 1.2850 and 1.2720 levels. • If the GBPUSD pair trades above the 1.2925 level, key resistance is found at the 1.2980 and 1.3000 levels.
by OctaFX_Official
BTCUSD awaiting buyersBitcoin is still struggling to break from its recent short-term trading range after buyers faced still resistance from the $9,400 level last week. Continued failure to move past the $9,400 level could prompt the BTCUSD pair to retrace back towards the $8,400 level. Overall, BTCUSD bulls can still rally the cryptocurrency towards the $11,000 level while price trades above the $8,900 level. • The BTCUSD pair is only bullish while trading above the $8,900 level, key resistance is located at the $9,800 and $11,000 levels. • If the BTCUSD pair trades under the $8,900 level, sellers may test towards the $8,600 and $8,400 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
ETHUSD $250.00 targetEthereum is getting ready for a breakout move as the cryptocurrency continues to find solid dip-buying interest around the $180.00 level. A bullish inverted head and shoulders pattern on the lower time frames is signaling a possible rally towards the $250.00 level. Only a sustained move below the $155.00 level would negate the bullish outlook for the ETHUSD pair. • If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $210.00 and $250.00 levels. • If the ETHUSD pair trades below the $200.00 level, key support is found at the $170.00 and $155.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
USDJPY new lowThe US dollar is coming under increasing pressure against the Japanese yen, with the pair falling to a fresh multi-week trading low. The USDJPY pair risks a deeper decline towards the 107.30 level if the 107.90 support level is broken over the coming sessions. Overall, USDJPY sellers now have the upper hand in the short-term while price trades below the 108.60 resistance level. • 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 only bearish while trading below the 108.60 level, key technical support is found at the 107.90 and 107.30 levels
by OctaFX_Official
EURUSD 1.1180 criticalThe euro has experienced a minor technical pullback against the US dollar after sellers failed to break the 1.1180 resistance level on Thursday. The EURUSD pair is at risk of a strong pullback towards the 1.1044 level if bulls fail to break through the 1.1180 level today. With the US monthly jobs report approaching the EURUSD pair is likely to settle into a smaller trading range until the key data release this afternoon. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1260 levels.
by OctaFX_Official
EURUSD steady advanceThe euro is holding onto its monthly gains against the US dollar after the Federal Reserve cut interest by twenty-basis points on Wednesday. Going forward, the 1.1260 level is the key resistance level bulls may attempt to reclaim if a break above the 1.1200 level occurs. The monthly price close is now in focus, with EURUSD bulls on course for the first positive trading month since June this year. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1160 and 1.1260 levels.
by OctaFX_Official
BTCUSD awaiting buyersBitcoin is trading around the $9,100 level after buyers failed to secure a bullish daily price closes above the $9,800 resistance level. Short-term BTCUSD buyers soon need to return or the pair risks a deeper decline back towards the $8,600 support level. Overall, the BTCUSD pair has the capacity to stage a powerful rally towards the $14,000 level while trading above the $9,100 level. • The BTCUSD pair is only bullish while trading above the $9,100 level, key resistance is located at the $9,800 and $10,600 levels. • If the BTCUSD pair trades under the $9,100 level, sellers may test towards the $8,600 and $8,200 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD potential buyThe British pound has moved higher against the US dollar, following the Federal Open Market Committee interest rate decision on Wednesday. The latest advance in the GBPUSD pair may present an excellent opportunity to buy a breakout around the 1.2925 level. It is worth remembering that with the upcoming UK General Election the British pound is set for more volatile trading action. • If the GBPUSD pair trades below the 1.2925 level, key support is found at the 1.2900 and 1.2850 levels. • If the GBPUSD pair trades above the 1.2925 level, key resistance is found at the 1.3000 and 1.3080 levels.
by OctaFX_Official
GBPUSD 1.2850 level in focusThe British pound has moved back towards the 1.2850 level against the US dollar after the pair received a strong technical rejection from the 1.2900 resistance level. The 1.2810 level now offers the strongest form of technical support prior to the 1.2720 level. Going forward, a break above the 1.2925 level is needed to encourage a technical test of the psychological 1.3000 level. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2810 and 1.2770 levels. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2925 levels.
by OctaFX_Official
EURUSD bulls bewareThe euro is on the rise against the US dollar on Wednesday, after finding strong dip-buying demand around the 1.1070 support level. Caution is still advised ahead of today’s data releases as the main area of technical support for the EURUSD pair is located just under the 1.1044 level. Overall, the medium-term upside objective for the EURUSD pair is located around the 1.1260 level. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1040 levels. • The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1260 levels.
by OctaFX_Official
LTCUSD $60.00 now keyLitecoin continues to press higher on the cryptocurrency market, following its recent reversal from just above the $45.00 level. A sustained breakout above the $60.00 level should lead to further gains for the LTCUSD pair towards at least the $72.00 resistance level. The four-hour time frame also shows that the recent rally has helped to invalidate a bearish head and shoulders pattern. • If the LTCUSD pair trades below the $60.00 level, key support is found at the $50.00 and $47.00 levels. • If the LTCUSD pair trades above the $60.00 level, key resistance is found at the $65.00 and $72.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
ETHUSD $198.00 breakout neededEthereum is trading above the $180.00 level as the recent rally in the cryptocurrency market has helped return the ETHUSD pair's short-term bullish status. The four-hour time frame shows that a breakout above the $198.00 level could propel the ETHUSD pair towards the $240.00 level. Only a sustained move below the $170.00 level will negate the ETHUSD pair bullish outlook. • If the ETHUSD pair trades above the $198.00 level, key resistance is found at the $210.00 and $240.00 levels. • If the ETHUSD pair trades below the $198.00 level, key support is found at the $180.00 and $170.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
USDJPY 109.30 neededThe US dollar is trading around the 109.00 level against the Japanese yen as overall market sentiment towards the pair increases. The USDJPY pair now needs to rally above the 109.30 resistance level to encourage a major upside technical breakout towards the 110.00 level. Caution is still advised when trading the USDJPY pair until a breakout above the 109.30 level takes place. • The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.30 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.25 and 107.90 levels
by OctaFX_Official
GBPUSD lacking convictionThe British pound has moved above the pivotal 1.2850 level against the US dollar, following news that the European Union has granted the UK a Brexit extension. The upside move above the 1.2850 is lacking conviction and could soon start to stall. Overall, a confirmed bearish rejection back under the 1.2850 level could prompt a strong decline towards the 1.2720 support level. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2920 levels. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels.
by OctaFX_Official
USDJPY data to decideThe US dollar is trading sideways against the Japanese yen, as traders and investors await a slew of US economic data releases this week. The USDJPY pair could become extremely volatile to trade, leading to plenty of two-way trading opportunities. Traders are likely to continue to buy any dips in the USDJPY pair while the price continues to trade above the pivotal 107.90 technical level. • 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 only bearish while trading below the 108.60 level, key technical support is found at the 108.25 and 107.90 levels
by OctaFX_Official