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Octafx

GBPUSD 1.2510 major resistanceThe 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 1.2510 level. The GBPUSD pair is bearish while trading below the 1.2470 level, key support is found at the 1.2410 and 1.2385 levels. If the GBPUSD pair trades above the 1.2470 level, key resistance is found at the 1.2510 and 1.2580 levels.
by OctaFX_Official
2
EURUSD 1.1025 hard resistanceThe 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 low. The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0970 and 1.0925 levels. The EURUSD pair is only bullish while trading above the 1.0990 level, key resistance is found at the 1.1025 and 1.1050 levels.
by OctaFX_Official
EURUSD momentum lackingThe 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 it appears unlikely without a strong fundamental catalyst. The EURUSD pair is bearish while trading below the 1.0980 level, key support is found at the 1.0925 and 1.0850 levels. The EURUSD pair is only bullish while trading above the 1.1050 level, key resistance is found at the 1.1170 and 1.1110 levels.
by OctaFX_Official
GBPUSD bearish patternThe 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 the currency pair. The GBPUSD pair is bearish while trading below the 1.2510 level, key support is found at the 1.2385 and 1.2310 levels. If the GBPUSD pair trades above the 1.2510 level, key resistance is found at the 1.2580 and 1.2610 levels.
by OctaFX_Official
BTCUSD triangle narrowsBitcoin 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 prompt wide-spread BTCUSD selling. The BTCUSD pair is only bullish while trading above the $10,420 level, key resistance is located at the $10,700 and $11,700 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,600 and $9,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
USDJPY trade troublesThe 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 downside target. The USDJPY pair is only bullish while trading above the 107.70 level, key resistance is found at the 108.10 and 108.48 levels. The USDJPY pair is only bearish while trading below the 107.70 level, key technical support remains at the 107.10 and 106.90 levels.
by OctaFX_Official
ETHUSD $200.00 pivotEthereum 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 this week. If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $225.00 and $235.00 levels. If the ETHUSD pair trades below the $200.00 level, key support is found at the $195.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD rebound requiredThe 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 towards its current monthly trading low. The EURUSD pair is bullish while trading above the 1.0980 level, key resistance is found at the 1.1070 and 1.1110 levels. The EURUSD pair is only bearish while trading below the 1.0980 level, key support is found at the 1.0950 and 1.0925 levels.
by OctaFX_Official
GBPUSD on targetThe British pound has recovered back above the 1.2500 level against the US dollar after briefly moving lower following the Bank of England rate decision. The short-term bullish tone towards the GBPUSD pair suggests a move towards the 1.2600 level is coming. Overall, sterling is likely to post another week of strong trading gains, further encouraging traders to buy any technical pullbacks. The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels. If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2570 and 1.2600 levels.
by OctaFX_Official
EURUSD 1.1110 testThe euro currency is continuing to push higher against the US dollar on Friday, with the pair eroding all of its post-FOMC losses. The EURUSD pair is still on track to test the 1.1110 resistance area, although the 1.1160 level remains the larger goal. Overall, unless the pair suffers from sustained weakness returns below 1.1000 level the gradual recovery in the pair should continue. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1110 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.
by OctaFX_Official
BTCUSD still bullishThe first cryptocurrency is attempting to recover above the $10,000 level on Friday, after briefly falling towards the $9,600 support level on Thursday. Yesterday’s strong pullback may have formed an important low for the BTCUSD pair, particularly with the lower time frames still showing a bullish pattern. Overall, a continued recovery above the $10,000 level could provoke a major test of the $10,700 resistance area. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $10,700 and $11,700 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,600 and $9,300 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
2
EURUSD holds supportThe euro has moved lower against the US dollar despite the US Federal Reserve cutting interest rates as widely expected on Wednesday. The EURUSD pair has a short-term bullish target of 1.1160, although the 1.1300 level is the medium-term bullish target. The 1.1025 level is a key technical area that EURUSD bulls may look to buy the pair now that a pullback in price has taken place. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1110 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.
by OctaFX_Official
ETHUSD $230.00 possibleEthereum remains well-supported on Thursday as the second-largest cryptocurrency by market capitalization holds steady above the $200.00 level. The $230.00 level is the next major upside target for ETHUSD bulls if price continues to hold above major support. A sustained loss of the psychological $200.00 support level may provoke a key test of the $190.00 support level. If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $225.00 and $230.00 levels. If the ETHUSD pair trades below the $200.00 level, key support is found at the $190.00 and $185.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD still a buyThe British pound is holding onto recent gains against the greenback as traders await the Bank of England monetary policy decision later today. Further bullish advancement above the 1.2530 level should provoke a test of the 1.2600 level. A loss of the 1.2425 support region is likely to see the GBPUSD suffering a deeper pullback towards the 1.2385 level. The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels. If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2530 and 1.2600 levels.
by OctaFX_Official
3
GBPUSD awaiting UK dataThe British pound is consolidating around the 1.2500 level against the US dollar ahead of the release of key UK inflation data later this morning. GBPUSD bulls have the upper hand on an intraday basis while price trades above the important 1.2425 level. Overall, the GBPUSD pair is increasingly bullish with traders continuing to buy any pullbacks towards key technical support zones. The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels. If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2530 and 1.2600 levels.
by OctaFX_Official
EURUSD on the advanceThe euro has moved away from the 1.1000 level against the US dollar as dip-buying prevails following the formation of a potential bullish lower weekly trading high. The EURUSD pair may start to target the 1.1090 technical level ahead of the FOMC rate decision later today. Overall, short-term EURUSD bulls are in control of the currency pair while the price continues to trade above the 1.1050 level. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance remains at the 1.1090 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.
by OctaFX_Official
BTCUSD $9,700 major supportBitcoin is failing to attract a strong bid above the $10,000 level, with the number one cryptocurrency repeatedly failing around its 50-day moving average. Weakness below the $10,000 level is likely to prompt the BTCUSD pair to test towards the $9,700 support level. Buying dips under the $10,000 level is still the best strategy for trading the BTCUSD pair until the July monthly trading low is breached. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $10,700 and $10,960 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,700 and $9,300 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
LTCUSD $100.00 preferred targetLitecoin is tracking higher alongside the broader cryptocurrency market, leaving the fifth-largest digital currency plenty of space to advance this week. LTCUSD bulls need to hold price above the $73.50 level to encourage a test of the $80.00 resistance level. Overall, the psychological $100.00 level still remains the preferred upside target if the short-term recovery continues to gather pace. If the LTCUSD pair trades above the $73.50 level, key resistance is found at the $80.00 and $90.00 levels. If the ETHUSD pair trades below the $73.50.00 level, key support is found at the $68.00 and $65.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD divergence reversedThe British pound has fallen back towards the 1.2400 level against the US dollar, reversing negative MACD price divergence on the lower time frames. GBPUSD bulls still have the upper hand this week while price trades above the pivotal 1.2385 level. Wednesday remains a crucial day for sterling as traders await the release of UK CPI inflation data and the FOMC rate decision. The GBPUSD pair is only bearish while trading below the 1.2385 level, key support is found at the 1.2335 and 1.2300 levels. If the GBPUSD pair holds above the 1.2410 level, key resistance is found at the 1.2510 and 1.2600 levels.
by OctaFX_Official