OctaFX_Official

OctaFX_Official

The euro currency is drifting lower in early week trade against the US dollar, with the pair so far failing to attract a meaningful bid. The 1.1000 level is huge for the EURUSD this week, with bulls needing to step in from this key area to avoid a steep decline towards the 1.0930 area. Overall, watch out for a strong bullish counter-move to occur if the EURUSD...

OctaFX_Official

The British pound is under threat against the US dollar on Monday as traders await a slew of high-impacting data from the UK economy this morning. Worse than expected UK data could sink the GBPUSD pair lower towards the 1.2740 support area. Overall, traders have few reasons to be bullish towards the GBPUSD pair this week unless the 1.2940 level is successfully...

OctaFX_Official

Bitcoin is attempting to recover in early week trade after the number one cryptocurrency came under heavy bearish pressure last Friday. BTCUSD bulls need to defend the $8,700 support level this week to avoid further loses towards the $8,400 technical region. Overall, traders that are bullish towards Bitcoin will attempt to force a recovery towards the $9,800...

OctaFX_Official

The British pound is under heavy downside pressure against the US dollar after the recent dovish Bank of England meeting heightened technical selling. The GBPUSD pair risks falling towards the 1.2740 level, although the 1.2710 level is the main support area. Overall, selling any rallies towards the 1.2850 resistance level is the preferred intraday strategy when...

OctaFX_Official

The US dollar is increasingly bullish against the Japanese yen currency, following a sharp bounce from the pivotal 108.60 support level. The USDJPY pair is likely to test towards the 110.00 level if the 109.60 resistance level is overcome later today. Overall, an even stronger rally towards the 110.80 level is still possible, as the USDJPY pair continues to...

OctaFX_Official

Ethereum has pulled back from the $190.00 resistance level after buyers failed to performed a breakout above the $200.00 resistance level. Despite the recent move lower, the ETHUSD pair still has a bullish intraday bias while trading above the $180.00 level. Overall, the ETHUSD pair still has the potential to trade towards the $250.00 level while trading above the...

OctaFX_Official

Bitcoin has been frustrating traders this week as the number one cryptocurrency struggles to find a clear trending directional bias. Despite the lack of movement, the BTCUSD pair still retains its bullish short-term outlook while trading above the $8,900 support level. The $10,600 and $11,000 level remain the main bullish targets if the BTCUSD pair find strength...

OctaFX_Official

The British pound remains vulnerable to further decline against the US dollar as the pair weakens under the 1.2850 level. Going forward, a loss of the 1.2790 level could expose the GBPUSD pair to a technical test of the important 1.2710 support level. A more dovish Bank of England policy meeting later today also has the potential to push the GBPUSD pair...

OctaFX_Official

The euro bulls have been unable to defend the 1.1065 level against the US dollar, which has pushed the pair back towards the 1.1050 level. It is worth reiterating that the loss of the 1.1065 support level may trigger heavy selling in the EURUSD pair towards the 1.1030 or 1.1010 level. Overall, intraday strength in the US dollar index is a key factor behind...

OctaFX_Official

The euro currency is under pressure against the US dollar on Wednesday, following a bearish move below the 1.1110 technical level. A breakout below the 1.1065 support level could spark a deeper drop in the EURUSD pair towards the 1.1030 level. Overall, traders may use a technical pullback towards the 1.1000 level as an opportunity to build medium-term EURUSD long...

OctaFX_Official

The US dollar continues to press higher against the Japanese yen currency, following the recent reversal from the 107.90 support. An upcoming technical test of the 109.30 level is on the horizon, with a breakout above the October high likely to spark a rally towards the 110.00 level. Overall, the daily time frame shows the presence of an extremely large inverted...

OctaFX_Official

Ethereum is pressing higher on Wednesday, following a bullish breakout above a symmetrical triangle pattern on the lower time frames. The $200.00 level remains the near-term upside objective, although the $250.00 resistance level is the main objective. Only a sustained move below the $180.00 level can negate the bullish intraday sentiment surrounding the ETHUSD...

OctaFX_Official

The British pound is starting to appear weak against the US dollar after sellers forced the price below the important 1.2925 support level. The GBPUSD pair is at a serious risk of falling back towards the 1.2810 support level while trading below the 1.2925 level. Overall, GBPUSD buyers need to gain traction above the 1.2925 level to force a major technical test of...

OctaFX_Official

The euro currency has fallen below the 1.1150 level against the US dollar, placing further downside in the pair back into focus. Sustained weakness below the 1.1150 level for the EURUSD pair is likely to prompt a stronger decline back towards the 1.1070 support level. Caution is still warranted, as buyers could still force a technical test of the 1.1210 level if...

OctaFX_Official

Litecoin has started to firm above the $60.00 level on Tuesday as positive sentiment starts to spread through the cryptocurrency market. Short-term LTCUSD bulls are now back in control while price trades above the $60.00 level and could start to target the $68.00 level. Overall, the medium-term upside objective for LTCUSD buyers is located just below the $90.00...

OctaFX_Official

The euro currency continues to trade around the 1.1160 level against the US dollar after the US monthly jobs report failed to provoke a major breakout in the pair. Going forward, the EURUSD pair faces major upcoming technical resistance from the 1.1210 level. Failure to overcome the 1.1210 level could prompt a bearish retracement back towards the 1.1070 support...

OctaFX_Official

The British pound is struggling to move away from its recent short-term trading range against the US dollar, following another failed attempt to move past the 1.3000 level last week. GBPUSD sellers may look to fade the GBPUSD pair this week if the price continues to fail around the 1.2980 to 1.3000 technical area. Alternatively, if a breakout above the 1.3000...

OctaFX_Official

Bitcoin is still struggling to break from its recent short-term trading range after buyers faced still resistance from the $9,400 level last week. Continued failure to move past the $9,400 level could prompt the BTCUSD pair to retrace back towards the $8,400 level. Overall, BTCUSD bulls can still rally the cryptocurrency towards the $11,000 level while price...