OctaFX_Official

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

Ethereum 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

Bitcoin 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

Litecoin 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...

OctaFX_Official

The 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...

OctaFX_Official

Ethereum 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

Bitcoin 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...

OctaFX_Official

The 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...