OctaFX_Official

OctaFX_Official

Ethereum is getting ready for a breakout move as the cryptocurrency continues to find solid dip-buying interest around the $180.00 level. A bullish inverted head and shoulders pattern on the lower time frames is signaling a possible rally towards the $250.00 level. Only a sustained move below the $155.00 level would negate the bullish outlook for the ETHUSD...

OctaFX_Official

The US dollar is coming under increasing pressure against the Japanese yen, with the pair falling to a fresh multi-week trading low. The USDJPY pair risks a deeper decline towards the 107.30 level if the 107.90 support level is broken over the coming sessions. Overall, USDJPY sellers now have the upper hand in the short-term while price trades below the 108.60...

OctaFX_Official

The euro has experienced a minor technical pullback against the US dollar after sellers failed to break the 1.1180 resistance level on Thursday. The EURUSD pair is at risk of a strong pullback towards the 1.1044 level if bulls fail to break through the 1.1180 level today. With the US monthly jobs report approaching the EURUSD pair is likely to settle into a...

OctaFX_Official

The euro is holding onto its monthly gains against the US dollar after the Federal Reserve cut interest by twenty-basis points on Wednesday. Going forward, the 1.1260 level is the key resistance level bulls may attempt to reclaim if a break above the 1.1200 level occurs. The monthly price close is now in focus, with EURUSD bulls on course for the first positive...

OctaFX_Official

Bitcoin is trading around the $9,100 level after buyers failed to secure a bullish daily price closes above the $9,800 resistance level. Short-term BTCUSD buyers soon need to return or the pair risks a deeper decline back towards the $8,600 support level. Overall, the BTCUSD pair has the capacity to stage a powerful rally towards the $14,000 level while trading...

OctaFX_Official

The British pound has moved higher against the US dollar, following the Federal Open Market Committee interest rate decision on Wednesday. The latest advance in the GBPUSD pair may present an excellent opportunity to buy a breakout around the 1.2925 level. It is worth remembering that with the upcoming UK General Election the British pound is set for more volatile...

OctaFX_Official

The British pound has moved back towards the 1.2850 level against the US dollar after the pair received a strong technical rejection from the 1.2900 resistance level. The 1.2810 level now offers the strongest form of technical support prior to the 1.2720 level. Going forward, a break above the 1.2925 level is needed to encourage a technical test of the...

OctaFX_Official

The euro is on the rise against the US dollar on Wednesday, after finding strong dip-buying demand around the 1.1070 support level. Caution is still advised ahead of today’s data releases as the main area of technical support for the EURUSD pair is located just under the 1.1044 level. Overall, the medium-term upside objective for the EURUSD pair is located around...

OctaFX_Official

Litecoin continues to press higher on the cryptocurrency market, following its recent reversal from just above the $45.00 level. A sustained breakout above the $60.00 level should lead to further gains for the LTCUSD pair towards at least the $72.00 resistance level. The four-hour time frame also shows that the recent rally has helped to invalidate a bearish head...

OctaFX_Official

Ethereum is trading above the $180.00 level as the recent rally in the cryptocurrency market has helped return the ETHUSD pair's short-term bullish status. The four-hour time frame shows that a breakout above the $198.00 level could propel the ETHUSD pair towards the $240.00 level. Only a sustained move below the $170.00 level will negate the ETHUSD pair bullish...

OctaFX_Official

The US dollar is trading around the 109.00 level against the Japanese yen as overall market sentiment towards the pair increases. The USDJPY pair now needs to rally above the 109.30 resistance level to encourage a major upside technical breakout towards the 110.00 level. Caution is still advised when trading the USDJPY pair until a breakout above the 109.30 level...

OctaFX_Official

The British pound has moved above the pivotal 1.2850 level against the US dollar, following news that the European Union has granted the UK a Brexit extension. The upside move above the 1.2850 is lacking conviction and could soon start to stall. Overall, a confirmed bearish rejection back under the 1.2850 level could prompt a strong decline towards the 1.2720...

OctaFX_Official

The US dollar is trading sideways against the Japanese yen, as traders and investors await a slew of US economic data releases this week. The USDJPY pair could become extremely volatile to trade, leading to plenty of two-way trading opportunities. Traders are likely to continue to buy any dips in the USDJPY pair while the price continues to trade above the pivotal...

OctaFX_Official

The euro continues to hold below the 1.1100 level against the US dollar as traders look to a busy week ahead of market action. The direction of the EURUSD pair is likely to be decided by the outcome of the FOMC rate decision later this week. A rate cut could push the EURUSD towards the 1.1200 level, while a more hawkish FOMC decision could see sellers forcing the...

OctaFX_Official

Bitcoin is trading around the $9,600 level is early week trading, after the first cryptocurrency staged a major double-digit rally over the weekend. The BTCUSD pair has a strong bullish bias while trading above the $9,100 level, although bulls need to move price above the $9,800 to secure further medium-term gains. Overall, the short and medium-term outlook for...

OctaFX_Official

The euro is trading below the key 1.1110 level against the US dollar, following more dovish commentary from outgoing ECB President Mario Draghi on Thursday. A sustained loss of the 1.1110 level may encourage sellers to push price back towards the 1.1044 level. Overall, the EURUSD pair could be a strong dip-buying opportunity if a deeper correction towards the...

OctaFX_Official

Bitcoin remains under heavy bearish price on Friday, as the number one cryptocurrency fails to attract buying interest from depressed trading levels. The BTCUSD pair could extend its decline towards the $6,600 level before short and medium-term buyers return. Overall, BTCUSD sellers are increasingly likely to fade any moves back towards the $8,000 resistance level...

OctaFX_Official

The British pound has slumped to a fresh weekly trading low against the US dollar as reports surface that British Prime Minister Boris Johnson may call for a UK General Election next week. The GBPUSD pair has a negative intraday bias while trading below the 1.2850 level. The GBPUSD pair is likely to be sold heavily on any rallies back towards the 1.2890 resistance...