OctaFX_Official

OctaFX_Official

The euro is testing towards the 1.1200 level against the US dollar after bulls once again failed to break above the pairs former weekly trading high. The overall sentiment towards the EURUSD pair is intraday bearish while trading below the 1.1216 level. Buyers need to stabilize the EURUSD pair above the 1.1230 resistance level to encourage the next wave of strong...

OctaFX_Official

The British pound has erased its strong weekly gains against the US dollar following renewed demand for the greenback amongst investors. The 1.2890 level is the key downside level to watch intraday, with technical selling likely to increase if bears hold price below this key area. Bulls now need to move price above the 1.2950 level to stabilize the GBPUSD pair...

OctaFX_Official

Litecoin is once again testing towards the best levels of 2019, with the sixth largest cryptocurrency facing formidable resistance from the $100.00 level. The Ichimoku indicator is showing that the LTCUSD pair is pushing through cloud resistance on the weekly time frame. Sellers need to move the price below the $77.00 level to shift the current bullish bias...

OctaFX_Official

Ethereum has moved to a new 2019 trading high, with the second largest cryptocurrency by market capitalization receiving a boost from the recent breakout rally in Bitcoin. The first bullish target for the ETHUSD pair is the $230.00 level, with the $270.00 level extended weekly resistance. Sellers need to move price below the $185.00 level to shift the strong...

OctaFX_Official

The US dollar has fallen to a fresh monthly trading low against the Japanese yen currency after the Chinese government announced retaliatory measures to US trade tariffs. The 108.49 level is major weekly support if sellers move the USDJPY pair below the 109.00 support level. The USDJPY pair offers only limited technical support until the 107.90 level if the 108.49...

OctaFX_Official

The British pound has started to recover higher against the US dollar ahead of the release of important United Kingdom Wage and Earnings data later this morning. The GBPUSD pair has a bullish intraday bias while trading above the 1.3064 level and could start to target the 1.3100 level. If the GBPUSD pair falls below the 1.2990 level, sellers are likely to target...

OctaFX_Official

Bitcoin has broken through the $7,000 resistance level, with the number one cryptocurrency by market capitalization gaining nearly twenty percent since it moved above the $6,000 level. The $7,500 level offers strong technical resistance, although the $8,000 level is seen as formidable weekly resistance. The strong move higher hasnow created a large inverted head...

OctaFX_Official

The euro has opened the new trading week with a bullish bias against the US dollar after the pair closed the former trading week well above the 1.1200 level. If EURUSD buyers can move price above the 1.1264 level the 1.1290 level is then key breakout technical resistance. If sellers can move price under the 1.1216 level the EURUSD pair may start to come under...

OctaFX_Official

The US dollar has opened the trading week under pressure against the Japanese yen as Asian equity markets suffer early week losses. The USDJPY pair is likely to come under additional downside selling pressure if the 109.40 level is broken with conviction. If the USDJPY pair advances above the 110.00 level, buyers could force price back towards the 110.30 technical...

OctaFX_Official

Ethereum is attempting to push higher in early Wednesday trade as the second largest cryptocurrency by market capitalization holds above major weekly support. Buyers need to break above the current 2019 trading high in order to encourage fresh technical buying in the ETHUSD pair. The Ichimoku indicator is currently showing that the $160.00 and $148.00 levels are...

OctaFX_Official

The British pound is coming under renewed downside pressure against the US dollar on Wednesday due to political uncertainty in the United Kingdom. The GBPUSD pair is heavily bearish while trading below the 1.3064 and may weaken towards the 1.2990 level. If buyers hold price above the 1.3064 level the GBPUSD pair may drift back towards the 1.3100 resistance...

OctaFX_Official

The US dollar continues to tumble lower against the Japanese yen on Wednesday as global equity markets come under a fresh round of selling pressure. The USDJPY pair is moving closer to the important 109.80 now that the 110.00 level support level has been broken. The bullish pattern on the four-hour time frame has now been invalidated by the recent drop in the...

OctaFX_Official

Bitcoin is starting to receive a fresh round of buying demand in early Tuesday trade with the number one cryptocurrency breaking through the $5,800 resistance level. The $5,620 is now former key resistance turned key support if the BTCUSD pair moves below the $5,800 level. Overall, the BTCUSD pair is targeting the $6,000 level and possibly the $6,300 resistance...

OctaFX_Official

The British pound is trading above to the 1.3100 level against the US dollar in early Tuesday trade as the pair attempts to recover back towards the 1.3174 resistance level. The GBPUSD pair still has a bullish weekly trading bias while trading above the important 1.3064 level. Traders remain cautious about GBPUSD positioning, due to the much-anticipated release of...

OctaFX_Official

The euro is attempting to recover bullish momentum against the US dollar in early Tuesday trade after the pair stabilized above the 1.1190 support level. The EURUSD pair is likely to target the 1.1265 level, although the 1.1250 level still offers strong intraday technical resistance. The four-hour time frame is starting to show a potential head and shoulders...

OctaFX_Official

The US dollar has come under renewed downside pressure against the Japanese yen on Monday, following bearish comments surrounding Sino-US trade talks from President Trump. The USDJPY pair has a strong bearish intraday bias while trading below the 110.90 level and may target the 110.00 level. Traders should be aware that the large inverted head and shoulders...

OctaFX_Official

Litecoin is attempting to move higher in early week trade after the sixth largest cryptocurrency by market capitalization was given a boost by the latest strong rally in Bitcoin. The LTCUSD pair only has an intraday bullish bias while trading above key technical support, at $75.00. Bulls will soon need to break the former monthly trading high or the LTCUSD pair...

OctaFX_Official

The euro continues to recover higher against the greenback after the pair found strong dip-buying interest from the 1.1135 support level. The EURUSD pair could advance back towards the 1.1250 level of bulls can maintain price above the 1.1190 support level. Technical indicators across the four-hour time frame also suggest that the EURUSD pair can continue to trade...