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Octafx

EURUSD momentum lackingThe euro remains under downside pressure against the US dollar, although selling momentum is currently lacking below the 1.0980 level. The technicals are still very bearish for EURUSD pair, with a downside target of 1.0850 possible while price trades under the 1.0980 level. Bulls need to move price above the 1.1050 level to change the short-term picture, although it appears unlikely without a strong fundamental catalyst. The EURUSD pair is bearish while trading below the 1.0980 level, key support is found at the 1.0925 and 1.0850 levels. The EURUSD pair is only bullish while trading above the 1.1050 level, key resistance is found at the 1.1170 and 1.1110 levels.
by OctaFX_Official
ETHUSD $200.00 pivotEthereum is attempting to recover recent bullish momentum after the entire cryptocurrency market came under heavy pressure over the weekend. ETHUSD bulls need to keep price above the $200.00 level to encourage a fresh round of buying interest towards the current monthly trading high. Overall, the $230.00 to $235.00 technical area remains the likely upside target this week. If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $225.00 and $235.00 levels. If the ETHUSD pair trades below the $200.00 level, key support is found at the $195.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD rebound requiredThe euro currency is under mild downside pressure against the US dollar as the trading week begins after reversing towards the 1.1000 support level last Friday. Bulls need to hold the EURUSD pair above the 1.0980 level this week in order to encourage fresh technical buying towards the 1.1110 area. A loss of the 1.0980 area could see the EURUSD pair falling back towards its current monthly trading low. The EURUSD pair is bullish while trading above the 1.0980 level, key resistance is found at the 1.1070 and 1.1110 levels. The EURUSD pair is only bearish while trading below the 1.0980 level, key support is found at the 1.0950 and 1.0925 levels.
by OctaFX_Official
USDJPY trade troublesThe US dollar is coming under pressure against the US dollar after China canceled its upcoming trade talks with the US negotiators. The USDJPY pair is likely to remain under further technical selling pressure while trading below the 107.70 resistance level. Overall, the 107.10 level is the current short-term bearish target, with the 106.90 level the extended downside target. 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 107.70 level, key technical support remains at the 107.10 and 106.90 levels.
by OctaFX_Official
EURUSD 1.1110 testThe euro currency is continuing to push higher against the US dollar on Friday, with the pair eroding all of its post-FOMC losses. The EURUSD pair is still on track to test the 1.1110 resistance area, although the 1.1160 level remains the larger goal. Overall, unless the pair suffers from sustained weakness returns below 1.1000 level the gradual recovery in the pair should continue. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1110 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.
by OctaFX_Official
BTCUSD still bullishThe first cryptocurrency is attempting to recover above the $10,000 level on Friday, after briefly falling towards the $9,600 support level on Thursday. Yesterday’s strong pullback may have formed an important low for the BTCUSD pair, particularly with the lower time frames still showing a bullish pattern. Overall, a continued recovery above the $10,000 level could provoke a major test of the $10,700 resistance area. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $10,700 and $11,700 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,600 and $9,300 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD on targetThe British pound has recovered back above the 1.2500 level against the US dollar after briefly moving lower following the Bank of England rate decision. The short-term bullish tone towards the GBPUSD pair suggests a move towards the 1.2600 level is coming. Overall, sterling is likely to post another week of strong trading gains, further encouraging traders to buy any technical pullbacks. The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels. If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2570 and 1.2600 levels.
by OctaFX_Official
ETHUSD $230.00 possibleEthereum remains well-supported on Thursday as the second-largest cryptocurrency by market capitalization holds steady above the $200.00 level. The $230.00 level is the next major upside target for ETHUSD bulls if price continues to hold above major support. A sustained loss of the psychological $200.00 support level may provoke a key test of the $190.00 support level. If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $225.00 and $230.00 levels. If the ETHUSD pair trades below the $200.00 level, key support is found at the $190.00 and $185.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD still a buyThe British pound is holding onto recent gains against the greenback as traders await the Bank of England monetary policy decision later today. Further bullish advancement above the 1.2530 level should provoke a test of the 1.2600 level. A loss of the 1.2425 support region is likely to see the GBPUSD suffering a deeper pullback towards the 1.2385 level. The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels. If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2530 and 1.2600 levels.
by OctaFX_Official
EURUSD holds supportThe euro has moved lower against the US dollar despite the US Federal Reserve cutting interest rates as widely expected on Wednesday. The EURUSD pair has a short-term bullish target of 1.1160, although the 1.1300 level is the medium-term bullish target. The 1.1025 level is a key technical area that EURUSD bulls may look to buy the pair now that a pullback in price has taken place. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1110 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.
by OctaFX_Official
EURUSD on the advanceThe euro has moved away from the 1.1000 level against the US dollar as dip-buying prevails following the formation of a potential bullish lower weekly trading high. The EURUSD pair may start to target the 1.1090 technical level ahead of the FOMC rate decision later today. Overall, short-term EURUSD bulls are in control of the currency pair while the price continues to trade above the 1.1050 level. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance remains at the 1.1090 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.
by OctaFX_Official
BTCUSD $9,700 major supportBitcoin is failing to attract a strong bid above the $10,000 level, with the number one cryptocurrency repeatedly failing around its 50-day moving average. Weakness below the $10,000 level is likely to prompt the BTCUSD pair to test towards the $9,700 support level. Buying dips under the $10,000 level is still the best strategy for trading the BTCUSD pair until the July monthly trading low is breached. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $10,700 and $10,960 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,700 and $9,300 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD awaiting UK dataThe British pound is consolidating around the 1.2500 level against the US dollar ahead of the release of key UK inflation data later this morning. GBPUSD bulls have the upper hand on an intraday basis while price trades above the important 1.2425 level. Overall, the GBPUSD pair is increasingly bullish with traders continuing to buy any pullbacks towards key technical support zones. The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels. If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2530 and 1.2600 levels.
by OctaFX_Official
GBPUSD divergence reversedThe British pound has fallen back towards the 1.2400 level against the US dollar, reversing negative MACD price divergence on the lower time frames. GBPUSD bulls still have the upper hand this week while price trades above the pivotal 1.2385 level. Wednesday remains a crucial day for sterling as traders await the release of UK CPI inflation data and the FOMC rate decision. The GBPUSD pair is only bearish while trading below the 1.2385 level, key support is found at the 1.2335 and 1.2300 levels. If the GBPUSD pair holds above the 1.2410 level, key resistance is found at the 1.2510 and 1.2600 levels.
by OctaFX_Official
EURUSD 1.1050 still keyThe euro has slipped back towards the 1.1000 level against the US dollar after the pair failed to secure buying interest above the 1.1090 level on Monday. The downside for EURUSD pair can open-up below the 1.1000 level, although further gains towards the 1.1160 level appear more likely this week. Overall, EURUSD bulls need to reclaim the 1.1050 level to encourage fresh buying interest. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1090 and 1.1130 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1020 and 1.1000 levels.
by OctaFX_Official
LTCUSD $100.00 preferred targetLitecoin is tracking higher alongside the broader cryptocurrency market, leaving the fifth-largest digital currency plenty of space to advance this week. LTCUSD bulls need to hold price above the $73.50 level to encourage a test of the $80.00 resistance level. Overall, the psychological $100.00 level still remains the preferred upside target if the short-term recovery continues to gather pace. If the LTCUSD pair trades above the $73.50 level, key resistance is found at the $80.00 and $90.00 levels. If the ETHUSD pair trades below the $73.50.00 level, key support is found at the $68.00 and $65.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD 1.1090 key levelThe euro continues to hold onto recent gains against the US dollar, with the pair trading above the 1.1050 level. EURUSD bulls will need to perform multiple daily price closes above the 1.1090 level to encourage new technical buying interest. Overall, the 1.1160 level remains the short-term bullish target for EURUSD buyers. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1090 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1000 and 1.0930 levels.
by OctaFX_Official
ETHUSD approaching targetEthereum has found fresh buying interest over the weekend, with the second-largest cryptocurrency advancing towards $200.00 level. If ETHUSD bulls can hold price above the $200.00 level this week, further upside towards the $235.00 level remains possible. Until the upcoming news about two potential Bitcoin Exchange Traded Funds is released, upside gains may slow inside the altcoin space. If the ETHUSD pair trades above the $190.00 level, key resistance is found at the $205.00 and $235.00 levels. If the ETHUSD pair trades below the $180.00 level, key support is found at the $170.00 and $165.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD 1.2600 extended targetThe British pound has moved towards the 1.2500 level against the US dollar, with the pair now reaching its overall short-term bullish target. The thirty-minute time frame is currently showing bearish MACD divergence extending down towards the 1.2420. The 1.2600 level remains the extended bullish target for the GBPUSD pair, although it appears unlikely that this target will be hit ahead of the FOMC meeting. The GBPUSD pair is only bearish while trading below the 1.2385 level, key support is found at the 1.2335 and 1.2300 levels. If the GBPUSD pair holds above the 1.2410 level, key resistance is found at the 1.2510 and 1.2600 levels.
by OctaFX_Official
GBPUSD ECB affectThe British pound is starting to give back a portion of its recent gains against the US dollar after the pair failed to rally to a new monthly high on Wednesday. The British pound is likely to be affected by the ECB rate decision, particularly EURGBP cross-flows. Overall, a more dovish ECB move today could help to support the British pound if traders start to shun the single currency. The GBPUSD pair is only bearish while trading below the 1.2290 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2290 level, key resistance is found at the 1.2385 and 1.2410 levels.
by OctaFX_Official
BTCUSD recovery possibleBitcoin is still trading around the $10,000 level as the cryptocurrency suffers from a lack of volatility and trading volumes. Bulls can still lift the BTCUSD pair back towards the $11,000 level if they continue to anchor the number crypto around the $10,000 level. A downside break under the $9,450 support level should be considered extremely bearish for the cryptocurrency. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $11,000 and $11,500 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,450 and $9,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD bearish under 1.1000The euro currency has fallen below the 1.1000 level against the US dollar, marking a bearish trendline break from a descending triangle pattern. The downside breakout could take the EURUSD pair back towards the 1.0940 level, according to its overall projection. Buyers will need to force the price back above the 1.1050 level to encourage fresh buying interest towards the EURUSD. The EURUSD pair is bearish while trading below the 1.1000 level, key support is found at the 1.0960 and 1.0940 levels. The EURUSD pair is intraday bullish while trading above the 1.1050 level, key resistance is found at the 1.1100 and 1.1130 levels.
by OctaFX_Official
USDJPY very bullishThe US dollar continues to trade above the pivotal 107.00 level against the Japanese yen despite global equity markets turning lower. The technicals for the USDJPY pair still point to more upside while price holds above the 107.00 to 107.10 support zone. The breakout above the 107.50 level in the short-term is likely to push the USDJPY pair towards the 108.10 resistance area. The USDJPY pair is bullish while trading above the 107.00 level, key resistance is found at the 108.10 and 108.30 levels. The USDJPY pair is only bearish while trading below the 107.00 level, key technical support is found at the 106.40 and 106.00 levels.
by OctaFX_Official