OctaFX_Official

OctaFX_Official

The British pound has opened the new trading day below the 1.2300 level against the US dollar as United Kingdom political risks weigh on sterling. The immediate risk is a possible decline towards the 1.2250 level, while the current yearly low could come into focus if British PM Boris Johnson is ousted in UK Parliament. Only a sustained rally above the 1.2360 level...

OctaFX_Official

The euro currency remains extremely weak against the US dollar, although key upcoming risk events could provide some relief for the EURUSD pair. The US dollar index currently has a double-top pattern forming, while US political risks this week could be EURUSD supportive. Overall, weakness under the 1.0900 level could prompt more losses, however, traders must be...

OctaFX_Official

Litecoin appears increasingly bearish as the new trading week opens as the fifth-largest cryptocurrency languishes towards the $50.00 level. The LTCUSD pair is set for another month of losses, leaving the risk of a possible decline back towards the $36.00 level. Overall, bulls need to move the LTCUSD pair above the $65.00 level or the cryptocurrency could see...

OctaFX_Official

The British pound has recovered from the 1.2300 level against the US dollar, with the move higher extending towards the 1.2365 level. With the short-term bearish target for the GBPUSD pair possibly hit, directional traders may be sidelined until next week. In the immediate term, if the 1.2300 level is broken the GBPUSD pair is likely to find strong support from...

OctaFX_Official

Ethereum is still trading at relatively depressed levels on Friday, although the thirty-minute time frame is showing huge bullish MACD divergence. The bullish MACD divergence extends towards the $218.00 level and suggests an upside rally may soon be coming for the ETHUSD pair. Overall, ETHUSD bulls may start to enter back into the short-term long trade once the...

OctaFX_Official

The euro currency has moved to a new 2019 trading low against the US dollar after sellers forced a technical test of the 1.0900 support zone. The EURUSD has few fundamentals positives at the moments and the technical landscape is still very bearish while below the 1.1110 level. A continuation of EURUSD selling remains the most likely scenario, with the 1.0850...

OctaFX_Official

The euro is back under pressure against the greenback after traders force a bearish breakout below the current weekly trading low. The EURUSD pair now needs to move below the 1.0925 level to encourage technical towards the 1.0850 technical area. Traders could also buy the EURUSD pair from the current area if the 1.0925 level is not broken for a great risk-reward...

OctaFX_Official

The US dollar continues to recover higher against the Japanese yen currency as the pair move back towards the pivotal 107.70 level. The rebound from the 106.90 level has been fairly rapid and suggests that the USDJPY pair could still probe above the 108.00 level over the medium-term. Overall, bulls have the upper hand as long as the USDJPY pair trades above the...

OctaFX_Official

Bitcoin has come under major downside pressure after finally breaking under the well-defined descending triangle pattern on the higher time frames. The $8,300 level is must bounce level for the BTCUSD pair or the cryptocurrency could slide towards the $7,500 level. Overall, the BTCUSD pair is a sell while trading under the triangle, bulls desperately need to...

OctaFX_Official

The British pound has staged a recovery against the US dollar after finding strong technical support from the 1.2410 level on Tuesday. Bulls still need to recover price above the 1.2510 resistance area to secure the GBPUSD pairs short-term prospects. Overall, downside risks still remain, with the 1.2300 level the likely bearish target if bulls fail to overcome the...

OctaFX_Official

The euro is attempting to recover above the 1.1000 level against the US dollar after sellers were unable to keep the pair below the 1.0980 level. EURUSD bulls now need to move price above the 1.1025 resistance level to encourage further buying towards the 1.1050 level. Failure to beach the 1.1025 level could see the EURUSD push back towards the current weekly...

OctaFX_Official

Litecoin has erased its strong monthly gains, with the fifth-largest cryptocurrency by market capitalization sliding lower alongside the broader market. Further losses under the $50.00 level could prompt the LTCUSD pair to fall towards the $44.00 level. Overall, heavy weakness should be expected while the cryptocurrency fails to move away from the $65.00 support...

OctaFX_Official

The British pound remains under downside pressure against the US dollar on Tuesday, with a bearish reversal pattern forming across the lower time frames. Current short-term technical analysis shows that the GBPUSD pair could fall towards the 1.2310 region if the 1.2385 level is broken. A sustained move above the 1.2510 level should be taken as a bullish sign for...

OctaFX_Official

Bitcoin is slightly under pressure on Tuesday as the cryptocurrency market is struggling to build on last weeks trading gains. The BTCUSD pair is trading $10,000, with the triangle pattern on the daily time frame continuing to narrow. A move above the $10,420 level should secure a bullish breakout, while a sustained decline under the $9,600 level this week should...

OctaFX_Official

The euro remains under downside pressure against the US dollar, although selling momentum is currently lacking below the 1.0980 level. The technicals are still very bearish for EURUSD pair, with a downside target of 1.0850 possible while price trades under the 1.0980 level. Bulls need to move price above the 1.1050 level to change the short-term picture, although...

OctaFX_Official

Ethereum is attempting to recover recent bullish momentum after the entire cryptocurrency market came under heavy pressure over the weekend. ETHUSD bulls need to keep price above the $200.00 level to encourage a fresh round of buying interest towards the current monthly trading high. Overall, the $230.00 to $235.00 technical area remains the likely upside target...

OctaFX_Official

The euro currency is under mild downside pressure against the US dollar as the trading week begins after reversing towards the 1.1000 support level last Friday. Bulls need to hold the EURUSD pair above the 1.0980 level this week in order to encourage fresh technical buying towards the 1.1110 area. A loss of the 1.0980 area could see the EURUSD pair falling back...

OctaFX_Official

The US dollar is coming under pressure against the US dollar after China canceled its upcoming trade talks with the US negotiators. The USDJPY pair is likely to remain under further technical selling pressure while trading below the 107.70 resistance level. Overall, the 107.10 level is the current short-term bearish target, with the 106.90 level the extended...