OctaFX_Official

OctaFX_Official

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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

Bitcoin 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...

OctaFX_Official

The 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...

OctaFX_Official

The 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...

OctaFX_Official

The euro has seen a pick-up in selling against the greenback, as traders continue to sell any moves above the 1.1100 resistance level. If weakness persists we are likely to see the former weekly low come into focus, with the 1.1020 level the foremost weekly support zone below. Buyers need to move price above the 1.1130 level, although bullish sentiment currently...

OctaFX_Official

Litecoin is still under fairly severe downside pressure on Wednesday as the broader cryptocurrency market fails to attract a sustained bid. The bearish head and shoulders pattern on the four-hour time frame still suggests that the LTCUSD pair could fall to the $55.00 level. Overall, a break under the $70.00 level still remains the trigger for more short-term...

OctaFX_Official

The euro currency has slipped into the red for the trading week against the US dollar, following a heavy rejection from the 1.1160 level. Bears have the upperhand while price trades under the 1.1110 level, leaving the EURUSD pair exposed to further losses. Overall, bulls need to maintain price above the 1.1130 level, or the EURUSD pair could slip back towards the...

OctaFX_Official

The US dollar has staged a powerful reversal from the 104.50 level against the Japanese yen, with the counter-rally so far moving slightly above the 106.00 level. Buyers need to move price above the 106.40 level to really accelerate technical buying interest. The latest moves in the USDJPY reminds traders that the pair is incredibly sensitive to Sino-US trade...

OctaFX_Official

Ethereum is still failing to attract buying interest above the $200.00 level, leaving a further drop towards the $160.00 level increasingly likely. A bearish head and shoulders pattern has formed on the lower time frames which shows a potential fall in the ETHUSD pair. Overall, the $200.00 to $180.00 price range is critical for the direction of the second-largest...

OctaFX_Official

The euro is attempting to gain bullish momentum against the US dollar, following Friday’s strong recovery above the 1.1150 resistance level. Buyers need to keep price above the 1.1130 level to mount another challenge towards the important 1.1160 resistance area. Overall, the recently created bullish double-bottom pattern and the weaker greenback are helping to...

OctaFX_Official

The British pound remains well-supported against the US dollar in early Monday trade, after a fairly bullish weekly price close on Friday. The recent advance towards the 1.2300 level has created another higher high, further encouraging traders to buy the GBPUSD pair. Overall, the large inverted head and shoulders pattern on the lower time frame is projecting that...

OctaFX_Official

Bitcoin is slightly higher in early week trade, following another a quick recovery towards the $10,600 resistance level earlier today. The $9,900 level is the key support level to watch intraday, as it represents the BTCUSD pairs 100-day moving average. Overall, unless the $10,600 level is broken with conviction, the largest cryptocurrency could fall back towards...

OctaFX_Official

The euro is back under downside pressure against the greenback, after suffering another upside rejection from the 1.1110 level and falling to fresh new weekly trading low. Technically, the EURUSD is going to struggle to find attract buying interest if the pair continues to fail above the 1.1100 level. Chair Powell’s speech later today and the upcoming G7 meeting...

OctaFX_Official

Ethereum is attempting towards the $200.00 level after the second-largest cryptocurrency found strong technical support from the $180.00 level. Bulls need to rally the ETHUSD pair above the $210.00 level to trigger a much stronger move higher towards the $230.00 region. If sellers can move price back under the current monthly low the ETHUSD pair could fall another...

OctaFX_Official

The British pound has staged a strong upside rally against the US dollar, following the release of more positive news regarding Brexit negotiations. GBPUSD bulls have now triggered a bullish inverted head and shoulders pattern, with the 1.2480 level the overall target. The 1.2310 level is the next major resistance level to watch if bulls can maintain the GBPUSD...