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USDJPY 109.30 major resistanceThe US dollar has moved to fresh multi-month trading high against the Japanese yen currency after buyers broke through the 108.60 level on Tuesday. The USDJPY pair may test the 109.30 resistance level if bulls can maintain price above the 108.60. Overall, medium-term analysis shows that the USDJPY pair could reach the 110.00 level if bullish momentum continues to build. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support remains at the 107.90 and 106.90 levels. • 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
by OctaFX_Official
GBPUSD awaiting UK dataThe British pound is trading back above the 1.2600 resistance level against the US dollar after the pair found strong dip-buying demand from the 1.2515 support level. GBPUSD traders are now awaiting a raft of UK macroeconomic data this morning, which should provide the next short-term directional move. The 1.2770 level offers extended resistance, while the 1.2480 level offers strong technical support. • The GBPUSD pair is only bearish while trading below the 1.2580 level, key support is found at the 1.2515 and 1.2480 levels. • If the GBPUSD pair trades above the 1.2580 level, key resistance is found at the 1.2660 and 1.2770 levels.
by OctaFX_Official
EURUSD still a buyThe euro currency is holding above the 1.1000 level against the US dollar in early Tuesday trade, as selling momentum in the EURUSD pair starts to fade. EURUSD bulls may use any pullbacks towards the 1.1000 level as a buying opportunity. EURUSD buyers now need to force price above the 1.1044 level in order to encourage a technical test of the 1.1070 resistance level. • The EURUSD pair is only bearish while trading below the 1.0980 level, key support is found at the 1.0950 and 1.0920 levels. • The EURUSD pair is bullish while trading above the 1.0980 level, key resistance is found at the 1.1044 and 1.1070 levels.
by OctaFX_Official
LTCUSD $50.00 trigger levelLitecoin has lost recent upside momentum after the fifth-largest cryptocurrency was rejected from just below the $60.00 resistance level. The recent rejection puts the $50.00 support level in focus, which is a key trigger level this month. A loss of the $50.00 level could spark a major decline towards the $36.00 support level. • If the LTCUSD pair trades above the $60.00 level, key resistance is found at the $66.00 and $73.50 levels. • If the LTCUSD pair trades below the $60.00 level, key support is found at the $50.00 and $36.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
USDJPY 108.90 breakThe US dollar is trading towards the best levels of the month against the Japanese yen currency, following the recent announcement of a Sino-US trade deal. The USDJPY pair could soar toward the 110.20 level if we see a sustained break above the 108.90 level this week. Any technical pullbacks in the USDJPY pair should find strong technical support from the 107.45 level. The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.00 levels. The USDJPY pair is only bullish while trading above the 107.45 level, key resistance is found at the 108.80 and 110.20 levels
by OctaFX_Official
GBPUSD key pullback levelThe British pound is starting to give back gains against the US dollar after the pair found strong resistance from its 200-day moving average, around the 1.2720 level. A sustained break under the 1.2580 level could the GBPUSD pair falling towards the 1.2485 level this week. Dip-buyers are likely to move in strongly from the 1.2485 level if we see a pullback in the GBPUSD pair. The GBPUSD pair is only bearish while trading below the 1.2480 level, key support is found at the 1.2410 and 1.2350 levels. If the GBPUSD pair trades above the 1.2480 level, key resistance is found at the 1.2720 and 1.2800 levels.
by OctaFX_Official
Bitcoin opens positiveBitcoin has opened the new trading week with a more positive tone, as the number one cryptocurrency stabilizes above the $8,100 level. A break above the $8,600 resistance level should support an important technical test of the $9,100 level this week. A bearish break under the $8,100 support level could see the BTCUSD pair falling quickly towards the $7,500 level this week. 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 $8,100 and $7,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD moment of truthThe euro is holding above the 1.1000 level against the US dollar in early Friday trade, although the pair is struggling to move past the 1.1030 resistance level. The EURUSD pair faces a moment of truth, with sellers poised to move if the 1.1000 support level is broken. Overall, buyers are still in control while the EURUSD pair starts to stabilize above the psychological 1.1000 level. • The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0950 and 1.0920 levels. • The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.1030 and 1.1070 levels.
by OctaFX_Official
BTCUSD $8,600 proving difficultBitcoin is attempting to hold onto recent trading gains, despite a negative decision from the SEC over a potential Bitcoin Exchange Trade Fund. The BTCUSD pair has broken above its recent trading range and now needs to break above its 200-day moving average, around the $8,600 level. Once above the $8,600 level, the $9,100 level offers formidable technical resistance • The BTCUSD pair is only bullish while trading above the $8,500 level, key resistance is located at the $9,100 and $9,300 levels. • If the BTCUSD pair trades under the $8,500 level, sellers may test towards the $7,700 and $7,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
USDJPY 108.45 importantThe US dollar is trading towards the best levels of the week against the Japanese yen, following reports that a minor Sino-US trade deal may be on the cards. The 108.50 level is now the key technical area that bulls will need to break to encourage a test of the 108.80 level. Overall, the USDJPY pair now has a strong bullish bias while trading above the 107.45 resistance level. • The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.00 levels. • The USDJPY pair is only bullish while trading above the 107.45 level, key resistance is found at the 108.50 and 108.80 levels
by OctaFX_Official
LTCUSD $66.00 still keyLitecoin is attempting to recover higher in early Thursday trade as the fifth-largest cryptocurrency receives a boost from improving trading sentiment. The LTCUSD pair must break above the $66.00 level to negate short-term selling pressure. Overall, the LTCUSD pair is still vulnerable to a decline towards the $36.00 level if the broader cryptocurrency market starts to trade lower. • If the LTCUSD pair trades above the $60.00 level, key resistance is found at the $66.00 and $73.50 levels. • If the LTCUSD pair trades below the $60.00 level, key support is found at the $50.00 and $36.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD ECB minutes keyThe euro is holding firm against the US dollar in early Thursday trade, ahead of the release of the ECB Meeting Minutes later this morning. Any commentary towards increasing QE purchases will likely be bearish for the EURUSD pair. To the upside, if ECB members are seen to be divided about further QE purchases, it will likely be taken as bullish for the EURUSD pair. • The EURUSD pair is only bearish while trading below the 1.0950 level, key support is found at the 1.0920 and 1.0880 levels. • The EURUSD pair is bullish while trading above the 1.0950 level, key resistance is found at the 1.1025 and 1.1070 levels.
by OctaFX_Official
USDJPY moving higherThe US dollar is moving higher against the Japanese yen currency after bearish momentum faded below the pivotal 106.90 support level. If USDJPY bulls can maintain price above the 107.45 level the pair could advance towards at least the 108.00 technical region. Overall, the resumption of Sino-US trade talks later today is likely to decide the overall direction of the USDJPY pair. • The USDJPY pair is only bearish while trading below the 106.90 level, key technical support remains at the 106.40 and 105.50 levels. • The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 107.45 and 108.00 levels
by OctaFX_Official
EURUSD 1.0950 is keyThe euro currency is edging lower against the greenback as recent bullish momentum fades ahead of the release of the FOMC meeting minutes later today. EURUSD bulls need to maintain the pair above the 1.0950 level to encourage dip-buying this week. A loss of the 1.0950 support level could see the EURUSD pair quickly sold back towards its former weekly trading low. • The EURUSD pair is only bearish while trading below the 1.0950 level, key support is found at the 1.0920 and 1.0880 levels. • The EURUSD pair is bullish while trading above the 1.0950 level, key resistance is found at the 1.1025 and 1.1070 levels.
by OctaFX_Official
BTCUSD range break neededBitcoin is holding firm above the $8,000 level after a surge in the value of Ripple helped inspire a rally in the broader cryptocurrency market earlier this week. A clear range break is needed from the $7,700 to $8,500 level to increase short-term trading participation and volume. The range breakout may come this week, as another Bitcoin ETF decision is due from the Securities and Exchange Commission before October 13th. • The BTCUSD pair is only bullish while trading above the $8,500 level, key resistance is located at the $9,000 and $9,300 levels. • If the BTCUSD pair trades under the $8,500 level, sellers may test towards the $7,700 and $7,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD 1.2200 breakdownThe British pound is back under selling pressure against the US dollar as the chances of a hard-Brexit scenario appear to have increased. A sustained break below the 1.2200 support level could trigger a major technical sell-off in the GBPUSD pair, with the yearly trading low the initial target. Overall, moves back towards the 1.2275 level are likely to be met with strong counter selling. • The GBPUSD pair is only bearish while trading below the 1.2275 level, key support is found at the 1.2200 and 1.2100 levels. • If the GBPUSD pair trades above the 1.2200 level, key resistance is found at the 1.2250 and 1.2275 levels.
by OctaFX_Official
EURUSD 1.1000 struggleThe euro is struggling to move above the 1.1000 resistance level against the US dollar as traders remain cautious ahead of the release of the FOMC meeting minutes. Bearish Sino-US trade news has also previously failed to send the EURUSD pair higher. Overall, unless the 1.1025 level is broken, traders may be considering initiating short positions from just above the 1.1000 area. • The EURUSD pair is only bearish while trading below the 1.0950 level, key support is found at the 1.0920 and 1.0880 levels. • The EURUSD pair is bullish while trading above the 1.0950 level, key resistance is found at the 1.1025 and 1.1070 levels.
by OctaFX_Official
ETHUSD $185.00 importantEthereum is performing a near-term technical bounce after the ETHUSD pair found strong support from the $168.00 level over the weekend. ETHUSD bulls need to hold the pair above the $185.00 level to encourage buying interest towards the $210.00 level. Failure to overcome the $185.00 level could easily see the ETHUSD pair sold back towards the September low. • If the ETHUSD pair trades above the $185.00 level, key resistance is found at the $189.00 and $210.00 levels. • If the ETHUSD pair trades below the $185.00 level, key support is found at the $168.00 and $150.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD traders uncertainThe British pound is consolidating the 1.2300 level against the US dollar after traders failed to hold price below the important 1.2275 level. Uncertainty towards Brexit developments is keeping the GBPUSD pair contained, leaving traders to scalp the short-term range. Overall, traders will be looking to short the GBPUSD pair this week on a break of the 1.2275 level in anticipation of a much larger decline. • The GBPUSD pair is only bearish while trading below the 1.2275 level, key support is found at the 1.2245 and 1.2200 levels. • If the GBPUSD pair trades above the 1.2275 level, key resistance is found at the 1.2375 and 1.2410 levels.
by OctaFX_Official
BTCUSD bearish under $8,500Bitcoin has opened the new trading week under pressure as the cryptocurrency struggles to attract buyers from the $8,000 support level. The BTCUSD pair is still trading in a narrow range, as it prepares for upcoming fundamental news from the US Securities and Exchange Commission over a Bitcoin ETF. Overall, the next big directional move should come from a break of the $7,700 to $8,500 price range. • The BTCUSD pair is only bullish while trading above the $8,500 level, key resistance is located at the $9,000 and $9,300 levels. • If the BTCUSD pair trades under the $8,500 level, sellers may test towards the $7,700 and $7,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD major trendline resistanceThe euro currency is still holding onto its recent gains against the greenback, as the pair attempts to break its multi-month losing streak. The lower time frames are currently showing that the EURUSD pair faces major trendline resistance around the 1.1025 level this week. Overall, EURUSD buyers still have the upper hand while the price continues to trade above the pivotal 1.0950 level. • The EURUSD pair is only bearish while trading below the 1.0950 level, key support is found at the 1.0920 and 1.0880 levels. • The EURUSD pair is bullish while trading above the 1.0950 level, key resistance is found at the 1.1025 and 1.1070 levels.
by OctaFX_Official
USDJPY trade talk buzzThe US dollar is attempting to recover above the 106.90 level against the Japanese yen, with the pair appearing to have found an interim price floor. The USDJPY could drift higher towards 107.45 level this week, as initial Sino-US trade talk optimism dominates market sentiment. Overall, the USDJPY pair is technically bearish while trading under the important 106.90 support level. • The USDJPY pair is bearish while trading below the 106.90 level, key technical support remains at the 106.40 and 105.50 levels. • The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 107.45 and 107.70 levels
by OctaFX_Official
GBPUSD Brexit boostThe British pound has moved towards the 1.2400 level against the US dollar, following bullish news surrounding British PM Boris Johnson’s new Brexit proposals. The GBPUSD pair has a strong bullish bias while trading above the 1.2325 level, with the 1.2470 level currently acting as extended weekly resistance. Overall, the latest rally has also helped to complete the bearish head and shoulders pattern on the lower time frames. • The GBPUSD pair is only bearish while trading below the 1.2325 level, key support is found at the 1.2275 and 1.2200 levels. • If the GBPUSD pair trades above the 1.2325 level, key resistance is found at the 1.2440 and 1.2510 levels.
by OctaFX_Official