OctaFX_Official

OctaFX_Official

Ethereum is under downside pressure on Tuesday, with the second largest cryptocurrency by market capitalization trading towards the $150.00 level. The ETHUSD pair has a bearish intraday bias while trading below the $158.00 and could weaken below the important $145.00 level. The daily time frame is currently showing that critical weekly support for the ETHUSD pair...

OctaFX_Official

The euro is trading towards the best levels of the week against the US dollar after the pair moved above the major technical resistance, at 1.1174. If the EURUSD pair continues to trade above the 1.1174 level, the next key resistance area to watch is the 1.1216 level. EURUSD traders are now awaiting the release of French and eurozone GDP data this morning, with...

OctaFX_Official

The US dollar is back under pressure against the Japanese yen currency on Tuesday after the pair found strong resistance from the 111.88 level. The sentiment towards the USDJPY pair is intraday bearish while price trades below the 111.60 technical level. If sellers can move price under the 111.40 level they will trigger a head and shoulders pattern with a downside...

OctaFX_Official

Bitcoin is attempting to correct higher in early week trade after the BTCUSD pair found strong support from the $4,930 level last week. Buyers need to move the BTCUSD pair above the $5,200 level in order to regain bullish short-term trading momentum. Daily price closes above the $5,260 level should also encourage further gains, while daily price closes below the...

OctaFX_Official

The euro currency is back under downside pressure against the US dollar in early Monday trade after finding strong technical resistance from the 1.1174 level. Weakness below the 1.1135 support level should trigger the next round of technical selling in the EURUSD pair. Traders now await the release of key inflation data from the United States, ahead of Wednesday...

OctaFX_Official

The British pound is attempting to trade above the 1.2900 level against the US dollar in early week trade as technical indicators continue to correct from oversold conditions. The GBPUSD pair has so far found resistance from the 1.2943 level, although the 1.2975 level is critical weekly resistance. To the downside, weakness below the 1.2900 is likely to trigger a...

OctaFX_Official

Ethereum is under downside pressure on Friday, with the second largest cryptocurrency falling below major weekly technical support. The ETHUSD pair has failed to gain bullish momentum this week and has so far found support from the $145.00 level. The bearish head and shoulders pattern on the four-hour time frame remains key, with the ETHUSD pair now trading below...

OctaFX_Official

The euro currency has suffered another bearish daily price close against the US dollar, with the pair so far finding weekly support from the 1.1116 level. If the EURUSD pair breaks the 1.1116 level the 1.1100 level now offers the strongest form on intraday support. If the EURUSD pair corrects higher, the 1.1175 level is now key upside technical resistance on an...

OctaFX_Official

The US dollar is coming under pressure against the Japanese yen currency following a fake technical breakout above the 112.00 level. The intraday sentiment towards the USDJPY pair remains bearish while price trades below the 111.60 support level. Overall, the next large directional move in the USDJPY is likely to come after the release of first quarter GDP from...

OctaFX_Official

Bitcoin is staging a strong technical correction lower on Thursday after finding interim technical resistance from the $5,620 level earlier this week. The Ichimoku indicator on the daily time frame is still showing that the $,5260 level is major weekly support for the BTCUSD pair. The Relative Strength Index and the Stochastic indicator on the daily time frame are...

OctaFX_Official

The British pound has fallen to a new monthly trading low against the US dollar as the bearish head and shoulders pattern break is increasing technical selling on the pair. The 1.2880 level is critical support below the 1.2900 level, with the 1.2840 level acting as extended intraday support. GBPUSD bulls need to move price above the 1.2960 level to negate...

OctaFX_Official

The euro currency has fallen to a fresh 2019 trading low against the US dollar, hitting 1.1135, as the greenback continues to surge higher across the board. The technical picture for the EURUSD pair is increasingly bearish, with price now trading below the neckline of the head shoulders pattern. The next major downside target for EURUSD sellers is likely to be the...

OctaFX_Official

The euro has come back under pressure against the greenback as the US dollar index advances to its highest level since June 2017. The EURUSD pair is heavily bearish while trading below the 1.1216 level, with the 1.1175 level critical support below. The bearish head and shoulders pattern on the four-hour time frame is showing that the EURUSD pair could fall towards...

OctaFX_Official

The British pound is under heavy downside pressure against the US dollar, with the pair now trading at its weakest level in over eight weeks. The GBPUSD pair is heavily bearish while trading below the 1.2960 level and is likely to fall towards the 1.2880 level. The four-hour time frame is showing a large head and shoulders pattern, with the GBPUSD pair now trading...

OctaFX_Official

Litecoin is struggling to move higher on Wednesday, as the sixth largest cryptocurrency by market capitalization failed to rally alongside Bitcoin on Tuesday. The LTCUSD pair is still trapped within a bullish descending triangle pattern on the daily time frame. Overall, the LTCUSD pair still has a bullish weekly trading bias above the $65.00 level, which is the...

OctaFX_Official

The US dollar has fallen back towards its weekly pivot point against the Japanese yen currency after buyers failed to move price above the 112.00 level. The move lower is currently seen as a technical correction, as bulls have been able to maintain the USDJPY pair above the pivotal 111.68 level. The inverted head and shoulders pattern on the four-hour time frame...

OctaFX_Official

The euro currency continues to edge higher against the US dollar in early Tuesday trade, following a breakout above the 1.1250 level. If buyers hold price above the 1.1250 level the EURUSD pair faces strong weekly technical resistance from the 1.1280 level. Both the Momentum and the MACD indicators on the four-hour time frame are correcting from oversold...

OctaFX_Official

Bitcoin is attempting to advance above its current 2019 trading high, at $5,452, in early Tuesday trade, with the BTCUSD pair still well supported by strong dip-buying demand. The daily frame is showing that the $5,260 and the $5,200 levels are the main intraday support areas. Overall, the BTCUSD pair has a bullish weekly bias while trading above the $5,200 level...