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Octafx

BTCUSD $9,100 breakthroughBitcoin is trading around the $9,600 level is early week trading, after the first cryptocurrency staged a major double-digit rally over the weekend. The BTCUSD pair has a strong bullish bias while trading above the $9,100 level, although bulls need to move price above the $9,800 to secure further medium-term gains. Overall, the short and medium-term outlook for the BTCUSD pair has now changed to bullish. • 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 $8,800 and $8,200 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD 1.1044 now possibleThe euro is trading below the key 1.1110 level against the US dollar, following more dovish commentary from outgoing ECB President Mario Draghi on Thursday. A sustained loss of the 1.1110 level may encourage sellers to push price back towards the 1.1044 level. Overall, the EURUSD pair could be a strong dip-buying opportunity if a deeper correction towards the 1.1044 area occurs. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1080 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 1.1220 levels.
by OctaFX_Official
BTCUSD $6,600 major supportBitcoin remains under heavy bearish price on Friday, as the number one cryptocurrency fails to attract buying interest from depressed trading levels. The BTCUSD pair could extend its decline towards the $6,600 level before short and medium-term buyers return. Overall, BTCUSD sellers are increasingly likely to fade any moves back towards the $8,000 resistance level later today. • The BTCUSD pair is only bullish while trading above the $8,000 level, key resistance is located at the $8,360 and $8,500 levels. • If the BTCUSD pair trades under the $8,000 level, sellers may test towards the $7,000 and $6,600 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD turning bearishThe British pound has slumped to a fresh weekly trading low against the US dollar as reports surface that British Prime Minister Boris Johnson may call for a UK General Election next week. The GBPUSD pair has a negative intraday bias while trading below the 1.2850 level. The GBPUSD pair is likely to be sold heavily on any rallies back towards the 1.2890 resistance level. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2890 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
GBPUSD holding supportThe British pound is attempting to stage a recovery against the US dollar on Thursday after bulls continued to defend the important 1.2850 support level. Buyers must still remain cautious as a loss of the 1.2850 level could spark a strong decline in the GBPUSD pair. A sustained breakout above the 1.2900 level could cause the GBPUSD pair to rally back towards the 1.3000 level. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.3000 levels. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2720 and 1.2500 levels.
by OctaFX_Official
LTCUSD $36.00 in focusLitecoin has come under heavy downside pressure below the $50.00 after the broader cryptocurrency market suffered a major sell-off on Wednesday. According to the downside projection of multiple bearish head and shoulders pattern on the daily time frame, the LTCUSD pair could fall towards the $36.00 level. Only a sustained move above the $60.00 level can change the LTCUSD pair's negative outlook. • If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels. • If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $60.00 and $66.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD awaiting ECB decisionThe euro currency is advancing back towards the 1.1145 level against the US dollar, as traders await the ECB monetary policy decision later today. The EURUSD pair could rally towards the 1.1255 level if bulls continue to defend the 1.1110 level. A sustained loss of the 1.1110 support level could prompt a much larger decline in the EURUSD pair back towards the 1.1045 level. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1090 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 1.1255 levels.
by OctaFX_Official
EURUSD bearish correctionThe euro has moved below the pivotal 1.1145 level against the US dollar, placing the focus on emphasis on further short-term selling. If an interim high is in place, the bearish correction in the EURUSD pair could extend losses towards the 1.1044 support level. A sustained break below the 1.1110 support level should confirm that the EURUSD pair can start to trade much lower this week. • The EURUSD pair is bearish while trading below the 1.1145 level, key support is found at the 1.1110 and 1.1044 levels. • The EURUSD pair is only bullish while trading above the 1.1145 level, key resistance is found at the 1.1180 and 1.1220 levels.
by OctaFX_Official
GBPUSD selling preferredThe British pound has slipped below the 1.2900 level against the US dollar as bearish Brexit news weighs on the pairs trading sentiment. Selling any moves above the 1.2900 resistance level is now the preferred intraday strategy when trading the GBPUSD pair. More cautious traders may weight for a sustained breakout below the 1.2850 support level to initiate a GBPUSD short position. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2950 levels. • If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2720 and 1.2500 levels
by OctaFX_Official
BTCUSD upside failureBitcoin is building bearish momentum on Wednesday, after bulls struggled to break past the pivotal $8,300 resistance level. BTCUSD sellers now need to move price under the $7,800 level in order to encourage a much stronger down move. Failure to hold the pair below the $7,800 level could result in fresh BTCUSD buying back towards the $8,300 support level. • The BTCUSD pair is only bullish while trading above the $8,300 level, key resistance is located at the $8,500 and $8,810 levels. • If the BTCUSD pair trades under the $8,300 level, sellers may test towards the $7,800 and $7,400 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD 1.1200 still possibleThe euro currency has staged a minor technical correction lower against the US dollar after the pair found technical resistance from just below the 1.1180 level. EURUSD bulls still have time to advance towards the 1.1200 level ahead of Thursday’s key ECB policy meeting. A sustained loss of the 1.1145 level could push the EURUSD pair towards the 1.1125 support level. • The EURUSD pair is only bearish while trading below the 1.1145 level, key support is found at the 1.1125 and 1.1090 levels. • The EURUSD pair is bullish while trading above the 1.1145 level, key resistance is found at the 1.1180 and 1.1200 levels.
by OctaFX_Official
USDJPY bearish patternThe US dollar is struggling to move above the 108.80 level against the Japanese yen, leaving the pair under pressure going into the European trading session. The four-hour time frame is currently showing that a bearish head and shoulders pattern has formed. A sustained break under the 108.55 level will trigger the bearish pattern, with the 108.10 level the overall target. • The USDJPY pair is only bullish while trading above the 108.55 level, key resistance is found at the 108.80 and 109.30 levels. • The USDJPY pair is only bearish while trading below the 108.55 level, key technical support remains at the 108.10 and 107.90 levels
by OctaFX_Official
ETHUSD awaiting reversalEthereum is still trading on the defensive on Tuesday, as the pair awaits the next directional move in the broader cryptocurrency market. If bulls can keep price above the $168.00 level, the ETHUSD pair can form a strong reversal pattern. According to the size of the pattern, a move above the $188.00 level this week would take the ETHUSD pair towards the $208.00 level. • If the ETHUSD pair trades above the $188.00 level, key resistance is found at the $197.00 and $208.00 levels. • If the ETHUSD pair trades below the $188.00 level, key support is found at the $168.00 and $150.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD major week aheadThe euro has opened the new trading week unchanged against the US dollar, with Brexit uncertainty having a limited impact on the pair. The EURUSD pair performed a major breakthrough above the 1.1100 level last week, putting the 1.1200 level in focus if buyers can keep price above the 1.1160 level. Overall, the EURUSD pair is unlikely to extend gains beyond the 1.1230 technical area until the ECB policy decision. • 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 bullish while trading above the 1.1110 level, key resistance is found at the 1.1170 and 1.1230 levels.
by OctaFX_Official
GBPUSD 1.2850 supportThe British pound has opened the new trading week slightly lower against the US dollar after British PM Boris Johnson failed to pass his new Brexit deal over the weekend. The 1.2850 level offers key upcoming support if the 1.2800 level is convincingly broken. Overall, the GBPUSD pair is still settling in a higher trading range and market participants remain optimistic over Brexit. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.3000 and 1.3050 levels. • The GBPUSD pair is only bearish while trading below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels
by OctaFX_Official
BTCUSD bulls bewareBitcoin has opened the trading week above the $8,000 level after selling failed to build on last Friday’s losses below the $7,900 level. The BTCUSD pair faces a major challenge moving back towards its 200-day moving average, with the $8,500 level interim resistance. Overall, bulls must be cautious today as a head and shoulders pattern is present on the lower time frames. • The BTCUSD pair is only bullish while trading above the $8,500 level, key resistance is located at the $8,810 and $9,100 levels. • If the BTCUSD pair trades under the $8,500 level, sellers may test towards the $7,900 and $7,300 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD bullish above 1.1110The euro currency is gathering strength against the US dollar, following the recent bullish breakout above the 1.1110 resistance level. The EURUSD pair is increasingly likely to trade towards the 1.1160 level if bulls continue to hold price above the 1.1110 level. Brexit developments over the weekend could traders booking profits, leaving the 1.1070 level as major near-term support. • 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 bullish while trading above the 1.1110 level, key resistance is found at the 1.1160 and 1.1190 levels.
by OctaFX_Official
GBPUSD rally fadesThe British pound is starting to trade towards the 1.2850 level against the US dollar, after the pair hit its highest trading level since May 2019 on Thursday. A medium-term price high could be in place for sterling if UK lawmakers fail to approve the new Brexit deal over the weekend. Overall, the GBPUSD pair is vulnerable to further selling while trading below the 1.2850 level. • The GBPUSD pair is only bearish while trading below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2920 and 1.3000 levels.
by OctaFX_Official
BTCUSD $7,900 importantBitcoin looks set to close the trading week in the red, as the number one cryptocurrency by market capitalization fails to rally from the $8,000 support level. The $7,900 level is the key level to watch today if weakness persists under the $8,000 level today. A sustained breakout of the $7,900 level is likely to trigger heavy BTCUSD technical selling towards the $7,500 support level. • The BTCUSD pair is only bullish while trading above the $8,600 level, key resistance is located at the $8,810 and $9,100 levels. • If the BTCUSD pair trades under the $8,600 level, sellers may test towards the $7,900 and $7,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD 1.2900 resistanceThe British pound is moving away from the 1.2876 level against the US dollar after the pair traded to a new monthly high on Wednesday. The recent breakout above the 1.2720 level is a bullish development for the GBPUSD pair and has increased dip-buying interest. Overall, medium-term analysis is still showing that the GBPUSD is unlikely to break the 1.2900 resistance level this week. • The GBPUSD pair is only bearish while trading below the 1.2720 level, key support is found at the 1.2660 and 1.2515 levels. • If the GBPUSD pair trades above the 1.2720 level, key resistance is found at the 1.2878 and 1.2900 levels.
by OctaFX_Official
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LTCUSD pressure buildingLitecoin has come under severe downside pressure towards the $50.00 level, following a heavy decline in the broader cryptocurrency market. Sellers could now target the $36.00 support level, as it has been a long-term bearish target that has yet to be reached. Overall, the LTCUSD pair will need to rally above the $60.00 resistance level to reduce intraday bearish pressure. • If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels. • If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $60.00 and $66.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD 1.1110 weekly targetThe euro continues to enjoy strong buying interest against the US dollar, with the pair trading around the best levels of the week so far. According to technical analysis for the daily time frame, the 1.1110 level is currently the weekly bullish target for EURUSD bulls. Only a sustained loss of the 1.0990 support level will turn the intraday sentiment towards the EURUSD pair bearish. • The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0940 and 1.0920 levels. • The EURUSD pair is bullish while trading above the 1.0990 level, key resistance is found at the 1.1110 and 1.1160 levels.
by OctaFX_Official
EURUSD Brexit bounceThe euro currency has received a much-needed boost against the US dollar, following the release of bullish Brexit news of Tuesday. The EURUSD pair has reversed from the 1.0990 technical area and may start to target the 1.1070 resistance area if bulls can maintain the advance. Overall, the EURUSD pair has recently become a strong buy on any short-term technical pullbacks. • The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0940 and 1.0920 levels. • The EURUSD pair is bullish while trading above the 1.0990 level, key resistance is found at the 1.1070 and 1.1110 levels.
by OctaFX_Official