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LTCUSD still bearishLitecoin remains in a vulnerable technical position, with the cryptocurrency threatening a deeper decline if the $50.00 support level is broke. The LTCUSD pair is trading below the neckline of a head and shoulders, with the $36.00 level the medium-term target. LTCUSD bulls need to rally the pair above the $66.00 level to encourage traders to move back into short-term long positions. • If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $66.00 and $73.50 levels. • If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
BTCUSD $7,700 pivotalBitcoin is struggling to find a clear directional bias on Thursday, after the recent rally towards the $8,500 level was quickly sold lower. The BTCUSD pair’s 100-week moving average, at $7,700, is currently acting as a major pivot and containing further losses. The $6,600 level could come into focus if a bearish break occurs, while the $9,000 level still remains the likely near-term bullish target. • The BTCUSD pair is only bullish while trading above the $8,300 level, key resistance is located at the $9,000 and $9,600 levels. • If the BTCUSD pair trades under the $8,300 level, sellers may test towards the $7,700 and $6,600 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD buying expectedThe euro has continued to advance against the greenback as the US dollar index comes under heavy selling pressure ahead of Friday’s key US jobs number. The EURUSD pair could easily reach the 1.1025 level if the 1.1000 level is broken ahead of Friday’s main event. Sustained strength above the 1.0950 level should encourage traders to continue to buy the EURUSD pair in the short-term. • The EURUSD pair is bearish while trading below the 1.0950 level, key support is found at the 1.0900 and 1.0880 levels. • The EURUSD pair is bullish while trading above the 1.0950 level, key resistance is found at the 1.1000 and 1.1025 levels.
by OctaFX_Official
USDJPY 106.90 keyThe US dollar is under increasing downside pressure against the Japanese yen currency as global equity markets and the greenback falters over recent US data misses. The 106.90 level is now the key support region that bears must break to force a further decline toward the 105.50 level. Overall, the USDJPY has a strong intraday bearish bias while trading below 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 106.35 levels. • The USDJPY pair is bullish while trading above the 107.45 level, key resistance is found at the 107.70 and 108.00 levels.
by OctaFX_Official
GBPUSD bearish pattern formingThe British pound has recovered towards the 1.2300 level against the US dollar after traders bought the pair from the 1.2200 level over positive Brexit headlines. The recent decline has helped the GBPUSD pair create an extremely large head and shoulders pattern across the lower time frames. Overall, the latest bounce higher has the potential to form a right-hand shoulder to complete the pattern, with the initial short-term bullish target likely to be around the 1.2370 area. • The GBPUSD pair is bearish while trading below the 1.2300 level, key support is found at the 1.2200 and 1.2210 levels. • If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2350 and 1.2375 levels.
by OctaFX_Official
ETHUSD $175.00 keyEthereum is attempting to build bullish momentum on Wednesday as the cryptocurrency market starts to recover from the September trading low. The ETHUSD pair could advance towards the $190.00 level if bulls keep price above the $175.00 level. Overall, a loss of the $175.00 support level could prompt the ETHUSD pair to test towards the important $150.00 level. • If the ETHUSD pair trades above the $175.00 level, key resistance is found at the $190.00 and $205.00 levels. • If the ETHUSD pair trades below the $175.00 level, key support is found at the $165.00 and $150.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD 1.1000 possibleThe euro is moving higher against the US dollar after the US ISM manufacturing survey unexpectedly fell to a ten-year low on Tuesday. The EURUSD is only short-term bullish while trading above the 1.1000 level, leaving the pair with a major upside battle. Overall, a temporary bottom has now most likely been established around the 1.0880 level, making long positions more desirable. • The EURUSD pair is bearish while trading below the 1.1000 level, key support is found at the 1.0880 and 1.0850 levels. • The EURUSD pair is only bullish while trading above the 1.1000 level, key resistance is found at the 1.1025 and 1.1070 levels.
by OctaFX_Official
EURUSD 1.0850 supportThe euro currency is trading below the 1.0900 level against the greenback, as the US Dollar index advances to a new 2019 trading high. The current risk for the EURUSD pair is a drop towards the 1.0850 level, with extended support around the 1.0810 level. Overall, the EURUSD faces a day of high impacting economic data, which has the potential to positively or negatively impact the pair. • The EURUSD pair is only bearish while trading below the 1.1025 level, key support is found at the 1.0850 and 1.0810 levels. • The EURUSD pair is only bullish while trading above the 1.1025 level, key resistance is found at the 1.1070 and 1.1110 levels.
by OctaFX_Official
BTCUSD $9,000 key resistanceBitcoin is trading above its key 200-day moving average on Tuesday, although the cryptocurrency still closed the month of September heavily into the red. Any sustained moves above the $8,300 level are likely to find strong technical resistance from the $9,000 technical region. Overall, BTCUSD bulls need to hold the pair back above the $8,300 level to shift the intraday sentiment towards the pair and encourage short-term traders to turn more bullish. • The BTCUSD pair is only bullish while trading above the $8,300 level, key resistance is located at the $9,000 and $9,600 levels. • If the BTCUSD pair trades under the $8,300 level, sellers may test towards the $7,500 and $7,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD trade the edgesThe British pound is trading under the 1.2300 level against the US dollar as traders remain cautious ahead of key US and UK data releases this week. The four-hour time frame shows that the GBPUSD pair could bounce towards the 1.2375 technical area if a near-term recovery occurs. To the downside, a move below last weeks trading low could see a quick bearish drop towards the 1.2220 technical region. • The GBPUSD pair is bearish while trading below the 1.2360 level, key support is found at the 1.2250 and 1.2220 levels. • If the GBPUSD pair trades above the 1.2325 level, key resistance is found at the 1.2375 and 1.2410 levels.
by OctaFX_Official
GBPUSD high risk dayThe British pound has opened the new trading day below the 1.2300 level against the US dollar as United Kingdom political risks weigh on sterling. The immediate risk is a possible decline towards the 1.2250 level, while the current yearly low could come into focus if British PM Boris Johnson is ousted in UK Parliament. Only a sustained rally above the 1.2360 level will change the intraday sentiment towards the GBPUSD pair. The GBPUSD pair is bearish while trading below the 1.2360 level, key support is found at the 1.2250 and 1.2100 levels. If the GBPUSD pair trades above the 1.2360 level, key resistance is found at the 1.2410 and 1.2470 levels.
by OctaFX_Official
EURUSD rebound possibleThe euro currency remains extremely weak against the US dollar, although key upcoming risk events could provide some relief for the EURUSD pair. The US dollar index currently has a double-top pattern forming, while US political risks this week could be EURUSD supportive. Overall, weakness under the 1.0900 level could prompt more losses, however, traders must be careful in case a strong bounce occurs. The EURUSD pair is only bearish while trading below the 1.1025 level, key support is found at the 1.0900 and 1.0850 levels. The EURUSD pair is only bullish while trading above the 1.1025 level, key resistance is found at the 1.1070 and 1.1110 levels.
by OctaFX_Official
LTCUSD $36.00 is the riskLitecoin appears increasingly bearish as the new trading week opens as the fifth-largest cryptocurrency languishes towards the $50.00 level. The LTCUSD pair is set for another month of losses, leaving the risk of a possible decline back towards the $36.00 level. Overall, bulls need to move the LTCUSD pair above the $65.00 level or the cryptocurrency could see start to settle below the $50.00 level. If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $65.00 and $73.50 levels. If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD 1.2300 bounceThe British pound has recovered from the 1.2300 level against the US dollar, with the move higher extending towards the 1.2365 level. With the short-term bearish target for the GBPUSD pair possibly hit, directional traders may be sidelined until next week. In the immediate term, if the 1.2300 level is broken the GBPUSD pair is likely to find strong support from the 1.2275 level. The GBPUSD pair is bearish while trading below the 1.2410 level, key support is found at the 1.2300 and 1.2275 levels. If the GBPUSD pair trades above the 1.2410 level, key resistance is found at the 1.2470 and 1.2510 levels.
by OctaFX_Official
ETHUSD bullish divergenceEthereum is still trading at relatively depressed levels on Friday, although the thirty-minute time frame is showing huge bullish MACD divergence. The bullish MACD divergence extends towards the $218.00 level and suggests an upside rally may soon be coming for the ETHUSD pair. Overall, ETHUSD bulls may start to enter back into the short-term long trade once the $180 level is reclaimed. If the ETHUSD pair trades above the $180.00 level, key resistance is found at the $200.00 and $218.00 levels. If the ETHUSD pair trades below the $180.00 level, key support is found at the $165.00 and $150.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD still a sellThe euro currency has moved to a new 2019 trading low against the US dollar after sellers forced a technical test of the 1.0900 support zone. The EURUSD has few fundamentals positives at the moments and the technical landscape is still very bearish while below the 1.1110 level. A continuation of EURUSD selling remains the most likely scenario, with the 1.0850 level the possible bearish target. The EURUSD pair is only bearish while trading below the 1.1025 level, key support is found at the 1.0900 and 1.0850 levels. The EURUSD pair is only bullish while trading above the 1.1025 level, key resistance is found at the 1.1050 and 1.1070 levels.
by OctaFX_Official
EURUSD 1.0925 keyThe euro is back under pressure against the greenback after traders force a bearish breakout below the current weekly trading low. The EURUSD pair now needs to move below the 1.0925 level to encourage technical towards the 1.0850 technical area. Traders could also buy the EURUSD pair from the current area if the 1.0925 level is not broken for a great risk-reward entry. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0925 and 1.0850 levels. The EURUSD pair is only bullish while trading above the 1.1000 level, key resistance is found at the 1.1025 and 1.1050 levels.
by OctaFX_Official
USDJPY back to pivotThe US dollar continues to recover higher against the Japanese yen currency as the pair move back towards the pivotal 107.70 level. The rebound from the 106.90 level has been fairly rapid and suggests that the USDJPY pair could still probe above the 108.00 level over the medium-term. Overall, bulls have the upper hand as long as the USDJPY pair trades above the 107.70 level. The USDJPY pair is only bullish while trading above the 107.70 level, key resistance is found at the 108.10 and 108.48 levels. The USDJPY pair is only bearish while trading below the 107.00 level, key technical support remains at the 106.90 and 106.50 levels.
by OctaFX_Official
BTCUSD must bounceBitcoin has come under major downside pressure after finally breaking under the well-defined descending triangle pattern on the higher time frames. The $8,300 level is must bounce level for the BTCUSD pair or the cryptocurrency could slide towards the $7,500 level. Overall, the BTCUSD pair is a sell while trading under the triangle, bulls desperately need to rapidly move price back inside the triangle. The BTCUSD pair is only bullish while trading above the $9,100 level, key resistance is located at the $9,600 and $10,300 levels. If the BTCUSD pair trades under the $9,100 level, sellers may test towards the $7,500 and $6,800 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD 1.2510 major resistanceThe British pound has staged a recovery against the US dollar after finding strong technical support from the 1.2410 level on Tuesday. Bulls still need to recover price above the 1.2510 resistance area to secure the GBPUSD pairs short-term prospects. Overall, downside risks still remain, with the 1.2300 level the likely bearish target if bulls fail to overcome the 1.2510 level. The GBPUSD pair is bearish while trading below the 1.2470 level, key support is found at the 1.2410 and 1.2385 levels. If the GBPUSD pair trades above the 1.2470 level, key resistance is found at the 1.2510 and 1.2580 levels.
by OctaFX_Official
EURUSD 1.1025 hard resistanceThe euro is attempting to recover above the 1.1000 level against the US dollar after sellers were unable to keep the pair below the 1.0980 level. EURUSD bulls now need to move price above the 1.1025 resistance level to encourage further buying towards the 1.1050 level. Failure to beach the 1.1025 level could see the EURUSD push back towards the current weekly low. The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0970 and 1.0925 levels. The EURUSD pair is only bullish while trading above the 1.0990 level, key resistance is found at the 1.1025 and 1.1050 levels.
by OctaFX_Official
LTCUSD $50.00 criticalLitecoin has erased its strong monthly gains, with the fifth-largest cryptocurrency by market capitalization sliding lower alongside the broader market. Further losses under the $50.00 level could prompt the LTCUSD pair to fall towards the $44.00 level. Overall, heavy weakness should be expected while the cryptocurrency fails to move away from the $65.00 support level. If the LTCUSD pair trades above the $65.00 level, key resistance is found at the $70.00 and $73.50 levels. If the LTCUSD pair trades below the $65.00 level, key support is found at the $50.00 and $44.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD bearish patternThe British pound remains under downside pressure against the US dollar on Tuesday, with a bearish reversal pattern forming across the lower time frames. Current short-term technical analysis shows that the GBPUSD pair could fall towards the 1.2310 region if the 1.2385 level is broken. A sustained move above the 1.2510 level should be taken as a bullish sign for the currency pair. The GBPUSD pair is bearish while trading below the 1.2510 level, key support is found at the 1.2385 and 1.2310 levels. If the GBPUSD pair trades above the 1.2510 level, key resistance is found at the 1.2580 and 1.2610 levels.
by OctaFX_Official