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GBPUSD buy the dipsThe British pound remains well-supported against the US dollar on Wednesday as traders continue to buy any dips lower in the pair. The GBPUSD pair has fairly limited technical resistance until the 1.2430 level if buyers can force price above the 1.2380 level. Overall, the 1.2300 level still remains the main technical area that GBPUSD bulls will look to buy any pullbacks in pair today. 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 1.2380 and 1.2430 levels.
by OctaFX_Official
ETHUSD $200.00 expectedEthereum appears to have put in a near-term price floor as the second-largest cryptocurrency trades comfortably around the $180.00 level. A potential inverted head and shoulders pattern is building, with the $200.00 level the short-term upside objective. Overall, the ETHUSD pair could start to rally sharply alongside Bitcoin if the cryptocurrency market returns to bull mode. If the ETHUSD pair trades above the $190.00 level, key resistance is found at the $200.00 and $220.00 levels. If the ETHUSD pair trades below the $180.00 level, key support is found at the $170.00 and $160.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD limited actionThe euro is still largely contained towards the middle of its recent trading range against the US dollar, as traders remain cautious ahead of Thursday’s ECB meeting. Unless we see a strong move in the US dollar index, it is unlikely that the EURUSD pair will see significant movement. Overall, the 1.1000 to 1.1090 range is still expected to contain the EURUSD without a near-term trading catalyst. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1090 level, key resistance is found at the 1.1130 and 1.1160 levels.
by OctaFX_Official
GBPUSD 1.2480 top resistanceThe British pound has moved within touching distance of the 1.2400 level against the US dollar, following a strong rally from the 1.2250 level. The four-hour time frame shows that the 1.2480 level is top-end resistance if GBPUSD bulls gain control above the 1.2400 level. Weakness back under the 1.2350 level could prompt a test of the 1.2310 support level, where traders will attempt to buy the latest dip. The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2450 and 1.2480 levels.
by OctaFX_Official
GBPUSD UK data focusThe British pound remains well-supported towards the best level of the month against the greenback, ahead of the release of key UK growth and trade data this morning. UK politics is also in focus today, which promises more volatility in the GBPUSD pair. The GBPUSD has upside resistance around the 1.2355 level, while major weekly support extends down towards the 1.2190 level. The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2260 and 1.2190 levels. If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2355 and 1.2380 levels.
by OctaFX_Official
EURUSD still bullishThe euro is holding firm against the US dollar as the new trading week begins ahead of a critical week for the single currency. Traders are likely to be cautious towards the EURUSD pair this week incase the European Central Bank introduce a new stimulus package on Thursday. Overall, a breakout from the 1.1000 to 1.1110 price range is likely to trigger the next strong EURUSD move. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.11100 and 1.1160 levels.
by OctaFX_Official
BTCUSD $10,000 buy zoneBitcoin has pulled back from its monthly trading higher after bulls failed to break above the important $11,100 resistance level on Friday. Altcoins are outperforming the number one cryptocurrency, although the BTCUSD pair still has plenty of room to push higher this week if bulls can perform a bullish triangle breakout. Overall, Bitcoin still remains a strong buy towards the $10,000 support zone. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $11,100 and $12,300 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 pullback possibleThe euro has pulled backed from a fresh monthly trading high against the US dollar after the pair found strong resistance from the 1.1086 level. Buyers need to move price above the 1.1160 level to force a major short-term technical breakout in the EURUSD pair. Any near-term technical corrections in the EURUSD pair could easily extend back towards the 1.0940 support level. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.1186 and 1.1130 levels.
by OctaFX_Official
USDJPY 108.00 possibleThe US dollar has broken to the upside against the Japanese yen currency, following more bullish trade news regarding Sino-US trade talks. Now that bulls have broken above the 107.00 level the rally in the USDJPY pair could easily extend towards the 108.00 level. An inverted head and shoulders pattern on the lower time frames point to a potential move towards 108.80. The USDJPY pair is bullish while trading above the 106.40 level, key resistance is found at the 108.00 and 108.80 levels. The USDJPY pair is only bearish while trading below the 106.40 level, key technical support is found at the 106.00 and 105.40 levels.
by OctaFX_Official
ETHUSD temporary setbackEthereum has pulled back towards its opening weekly price after bulls failed to build bullish traction above the $180.00 level. Weakness in the altcoin space is also weighing on Ethereum from a technical standpoint, as investors increasingly favor Bitcoin. Overall, the ETHUSD pair has strong support from the $160.00 level and is still likely to move back towards the $200.00 level in the medium-term. If the ETHUSD pair trades below the $170.00 level, key support is found at the $160.00 and $150.00 levels. If the ETHUSD pair trades above the $170.00 level, key resistance is found at the $180.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD 1.0990 upcoming resistanceThe euro currency has made a marginal recovery against the US dollar, following much weaker-than-expected ISM manufacturing data from the US economy. The overall trend still remains bearish for the EURUSD pair, with the 1.0900 level near-term support. Bulls need to move price above the 1.0990 level to encourage a technical test of the 1.1026 resistance level. If the EURUSD pair trades above the 1.0960 level, bulls may test back towards the 1.0990 and 1.1026 levels. The EURUSD pair remains bearish while trading below the 1.0960 level, key support is found at the 1.0900 and 1.0860 levels.
by OctaFX_Official
GBPUSD extremely volatileThe British pound has recovered above the 1.2000 level against the US dollar after bouncing sharply from the 1.1960 support level. United Kingdom politics is generating extreme volatility in the GBPUSD pair, causing price to whipsaw on the latest Brexit headline. Bulls need to keep price above the 1.2020 level to encourage the notion that a medium-term price floor may now be in place. The GBPUSD pair is heavily bearish while trading below the 1.2020 level, key support is found at the 1.1980 and 1.1960 levels. If the GBPUSD pair trades above the 1.2020 level, key resistance is found at the 1.2110 and 1.2155 levels.
by OctaFX_Official
LTCUSD $80.00 increasingly likelyLitecoin is started to grind higher as positive trading sentiment starts to spread through the entire cryptocurrency market space. The LTCUSD pair is increasingly likely to test towards the $80.00 level, although $92.00 is possible if Bitcoin continues to break higher. Overall, Litecoin bulls are showing positive signs that they intend to push the cryptocurrency higher, although they must breach the August high. The LTCUSD pair is only bullish while trading above the $65.00 level, key resistance is found at the $80.00 and $92.00 levels. If the LTCUSD pair trades below the $65.00 level, key support is found at the $60.00 and $55.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD awaiting PMI dataThe British pound has opened the new trading week below the important 1.2195 level against the US dollar, following renewed demand the greenback. Traders are now awaiting the release of the United Kingdom Manufacturing PMI, which could provoke GBPUSD volatility. Weaker UK PMI data could prompt a test of the 1.2100 support level, while a better than expected number could see bulls forcing price back towards the 1.2200 level. The GBPUSD pair is bearish while trading below the 1.2195, key support is found at the 1.2130 and 1.2100 levels. If the GBPUSD pair trades above the 1.2195 level, key resistance is found at the 1.2220 and 1.2250 levels.
by OctaFX_Official
ETHUSD awaiting reversalEthereum is holding steady in early week trade after the second-largest cryptocurrency closed August heavily in the red. The ETHUSD pair has so far found technical support around the $165.00 level, with the immediate downside risk being a further drop to the $150.00 level. The lower time frames are showing a potential bullish reversal pattern, which could take the ETHUSD pair back towards the $180.00 level. If the ETHUSD pair trades below the $165.00 level, key support is found at the $160.00 and $150.00 levels. If the ETHUSD pair trades above the $165.00 level, key resistance is found at the $180.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD 1.1000 now resistanceThe euro has opened the new trading month under pressure against the US dollar after suffering its lowest weekly price close since May 2017. The psychological 1.1000 level is now former key support turned resistance, with 1.1026 level extended resistance. Below the 1.0960 level, the 1.0900 level is the most notable form of technical support for the EURUSD pair this week. The EURUSD pair is heavily bearish while trading below the 1.1100 level, key support is found at the 1.0930 and 1.0900 levels. If the EURUSD pair trades above the 1.1000 level, bulls may test back towards the 1.1015 and 1.1026 levels.
by OctaFX_Official
LTCUSD now oversold Litecoin is still under bearish pressure in early Friday trade after the fifth-largest cryptocurrency looks set to close the month of August heavily in the red. The LTCUSD pair is approaching its bearish target, while the RSI indicator is now oversold on the daily time frame. Overall, the LTCUSD pair is likely to become an attractive short-term buy if the cryptocurrency starts to find a meaningful price floor. The LTCUSD pair is only bullish while trading above the $80.00 level, key resistance is found at the $92.00 and $100.00 levels. If the LTCUSD pair trades below the $70.00 level, key support is found at the $65.00 and $55.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD buyers disappearThe euro is falling back towards its current monthly trading low against the US dollar as the pair fails to rally on any positive news. The EURUSD monthly price close is coming into focus, with a monthly price close under the 1.1030 likely to set a bearish precedence for next month. The prospect of additional policy support from the ECB in just under two-weeks time is causing buyers to disappear. The EURUSD pair is heavily bearish while trading below the 1.1110 level, key support is found at the 1.1030 and 1.1000 levels. If the EURUSD pair trades above the 1.1090 level, bulls may test back towards the 1.1110 and 1.1130 levels.
by OctaFX_Official
USDJPY 107.00 revisitedThe US dollar has regained its short-term bullish bias against the Japanese yen currency as the pair recovers its former weekly losses. The USDJPY pair is being boosted by positive sentiment, as reports surface that Sino-US trade talks will begin next Thursday. Overall, a sustained move above the 107.00 resistance level opens-the-door for further gains towards the 108.00 level. The USDJPY pair is bullish while trading above the 106.40 level, key resistance is found at the 107.00 and 108.00 levels. The USDJPY pair is only bearish while trading below the 106.40 level, key technical support is found at the 106.00 and 105.00 levels.
by OctaFX_Official
EURUSD 1.0960 possibleThe euro currency has fallen to a fresh weekly low against the US dollar, completely eroding all of last Friday’s hard-earned trading gains. Technical analysis suggests that a break below the 1.1030 level opens-the-door for further losses towards the 1.0960 level. Bears may have to wait until the upcoming ECB policy meeting before a major technical breakout occurs in the EURUSD pair. If the EURUSD pair trades above the 1.1110 level, bulls may test back towards the 1.1130 and 1.1160 levels. The EURUSD pair is heavily bearish while trading below the 1.1110 level, key support is found at the 1.1030 and 1.0960 levels.
by OctaFX_Official
BTCUSD bearish signalBitcoin has slipped to a new two-week low in early Thursday trade after bearish news forced the cryptocurrency under the $9,700 level. The $9,400 level is the next big level to watch for the BTCUSD pair before the critical $9,100 support level. A number of key technical indictor are all flashing short-term sell signals. The BTCUSD pair is only bullish while trading above the $10,250 level, key resistance is located at the $10,700 and $11,000 levels. If the BTCUSD pair trades under the $9,900 level, sellers may test towards the $9,400 and $9,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD reverses from supportThe British pound is holding back above the 1.2200 level against the US dollar after quickly reversing from the 1.2150 level. The well-flagged neckline of the head and shoulders pattern on the one-hour time frame is found at the 1.2195. The four-hour time frame tells a different story, with a bullish pattern still holding an upside projection close to 1.2500. The GBPUSD pair is bearish while trading below the 1.2195, key support is found at the 1.2110 and 1.2000 levels. If the GBPUSD pair trades above the 1.2195 level, key resistance is found at the 1.2310 and 1.2380 levels.
by OctaFX_Official
GBPUSD hits 1.2310The British pound has surged to its highest trading level since late-July against the US dollar as dip-buyers retain control of the pair. The GBPUSD pair has hit its near-term bullish target, at 1.2310, although the larger upside objective is closer to the 1.2500 level. Bulls will need to hold price above the 1.2310 level to encourage additional buying towards the 1.2380 resistance area. The GBPUSD pair is only bearish while trading below the 1.2195 level, key support is found at the 1.2155 and 1.2100 levels. If the GBPUSD pair trades above the 1.2310 level, buyers may test towards the 1.2380 and 1.2480 levels.
by OctaFX_Official