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Octafx

GBPUSD 1.2600 extended targetThe British pound has moved towards the 1.2500 level against the US dollar, with the pair now reaching its overall short-term bullish target. The thirty-minute time frame is currently showing bearish MACD divergence extending down towards the 1.2420. The 1.2600 level remains the extended bullish target for the GBPUSD pair, although it appears unlikely that this target will be hit ahead of the FOMC meeting. 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
EURUSD 1.1090 key levelThe euro continues to hold onto recent gains against the US dollar, with the pair trading above the 1.1050 level. EURUSD bulls will need to perform multiple daily price closes above the 1.1090 level to encourage new technical buying interest. Overall, the 1.1160 level remains the short-term bullish target for EURUSD buyers. The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found 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 1.1000 and 1.0930 levels.
by OctaFX_Official
ETHUSD approaching targetEthereum has found fresh buying interest over the weekend, with the second-largest cryptocurrency advancing towards $200.00 level. If ETHUSD bulls can hold price above the $200.00 level this week, further upside towards the $235.00 level remains possible. Until the upcoming news about two potential Bitcoin Exchange Traded Funds is released, upside gains may slow inside the altcoin space. If the ETHUSD pair trades above the $190.00 level, key resistance is found at the $205.00 and $235.00 levels. If the ETHUSD pair trades below the $180.00 level, key support is found at the $170.00 and $165.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD bearish under 1.1000The euro currency has fallen below the 1.1000 level against the US dollar, marking a bearish trendline break from a descending triangle pattern. The downside breakout could take the EURUSD pair back towards the 1.0940 level, according to its overall projection. Buyers will need to force the price back above the 1.1050 level to encourage fresh buying interest towards the EURUSD. The EURUSD pair is bearish while trading below the 1.1000 level, key support is found at the 1.0960 and 1.0940 levels. The EURUSD pair is intraday bullish while trading above the 1.1050 level, key resistance is found at the 1.1100 and 1.1130 levels.
by OctaFX_Official
GBPUSD ECB affectThe British pound is starting to give back a portion of its recent gains against the US dollar after the pair failed to rally to a new monthly high on Wednesday. The British pound is likely to be affected by the ECB rate decision, particularly EURGBP cross-flows. Overall, a more dovish ECB move today could help to support the British pound if traders start to shun the single currency. The GBPUSD pair is only bearish while trading below the 1.2290 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2290 level, key resistance is found at the 1.2385 and 1.2410 levels.
by OctaFX_Official
BTCUSD recovery possibleBitcoin is still trading around the $10,000 level as the cryptocurrency suffers from a lack of volatility and trading volumes. Bulls can still lift the BTCUSD pair back towards the $11,000 level if they continue to anchor the number crypto around the $10,000 level. A downside break under the $9,450 support level should be considered extremely bearish for the cryptocurrency. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $11,000 and $11,500 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,450 and $9,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD buy the dipsThe British pound remains well-supported against the US dollar on Wednesday as traders continue to buy any dips lower in the pair. The GBPUSD pair has fairly limited technical resistance until the 1.2430 level if buyers can force price above the 1.2380 level. Overall, the 1.2300 level still remains the main technical area that GBPUSD bulls will look to buy any pullbacks in pair today. The GBPUSD pair is only bearish while trading below the 1.2290 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2290 level, key resistance is found at the 1.2380 and 1.2430 levels.
by OctaFX_Official
USDJPY very bullishThe US dollar continues to trade above the pivotal 107.00 level against the Japanese yen despite global equity markets turning lower. The technicals for the USDJPY pair still point to more upside while price holds above the 107.00 to 107.10 support zone. The breakout above the 107.50 level in the short-term is likely to push the USDJPY pair towards the 108.10 resistance area. The USDJPY pair is bullish while trading above the 107.00 level, key resistance is found at the 108.10 and 108.30 levels. The USDJPY pair is only bearish while trading below the 107.00 level, key technical support is found at the 106.40 and 106.00 levels.
by OctaFX_Official
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LTCUSD $80.00 first targetLitecoin has had a strong start to the new trading week, with the fifth-largest cryptocurrency advancing toward the $73.00 level. Multiple inverted head and shoulders patterns are building on the lower time frames, with the $80.00 level the first target. Overall, if price reaches the $80.00 level the LTCUSD pair could eventually move to its second upside target, around the $102.00 level. The LTCUSD pair is only bullish while trading above the $65.00 level, key resistance is found at the $80.00 and $102.00 levels. If the LTCUSD pair trades below the $65.00 level, key support is found at the $60.00 and $55.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD 1.2480 top resistanceThe British pound has moved within touching distance of the 1.2400 level against the US dollar, following a strong rally from the 1.2250 level. The four-hour time frame shows that the 1.2480 level is top-end resistance if GBPUSD bulls gain control above the 1.2400 level. Weakness back under the 1.2350 level could prompt a test of the 1.2310 support level, where traders will attempt to buy the latest dip. The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2260 and 1.2200 levels. If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2450 and 1.2480 levels.
by OctaFX_Official
ETHUSD $200.00 expectedEthereum appears to have put in a near-term price floor as the second-largest cryptocurrency trades comfortably around the $180.00 level. A potential inverted head and shoulders pattern is building, with the $200.00 level the short-term upside objective. Overall, the ETHUSD pair could start to rally sharply alongside Bitcoin if the cryptocurrency market returns to bull mode. If the ETHUSD pair trades above the $190.00 level, key resistance is found at the $200.00 and $220.00 levels. If the ETHUSD pair trades below the $180.00 level, key support is found at the $170.00 and $160.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD limited actionThe euro is still largely contained towards the middle of its recent trading range against the US dollar, as traders remain cautious ahead of Thursday’s ECB meeting. Unless we see a strong move in the US dollar index, it is unlikely that the EURUSD pair will see significant movement. Overall, the 1.1000 to 1.1090 range is still expected to contain the EURUSD without a near-term trading catalyst. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1090 level, key resistance is found at the 1.1130 and 1.1160 levels.
by OctaFX_Official
BTCUSD $10,000 buy zoneBitcoin has pulled back from its monthly trading higher after bulls failed to break above the important $11,100 resistance level on Friday. Altcoins are outperforming the number one cryptocurrency, although the BTCUSD pair still has plenty of room to push higher this week if bulls can perform a bullish triangle breakout. Overall, Bitcoin still remains a strong buy toward the $10,000 support zone. The BTCUSD pair is only bullish while trading above the $10,000 level, key resistance is located at the $11,100 and $12,300 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,450 and $9,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD UK data focusThe British pound remains well-supported towards the best level of the month against the greenback, ahead of the release of key UK growth and trade data this morning. UK politics is also in focus today, which promises more volatility in the GBPUSD pair. The GBPUSD has upside resistance around the 1.2355 level, while major weekly support extends down towards the 1.2190 level. The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2260 and 1.2190 levels. If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2355 and 1.2380 levels.
by OctaFX_Official
EURUSD still bullishThe euro is holding firm against the US dollar as the new trading week begins ahead of a critical week for the single currency. Traders are likely to be cautious towards the EURUSD pair this week incase the European Central Bank introduce a new stimulus package on Thursday. Overall, a breakout from the 1.1000 to 1.1110 price range is likely to trigger the next strong EURUSD move. The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.11100 and 1.1160 levels.
by OctaFX_Official
ETHUSD temporary setbackEthereum has pulled back towards its opening weekly price after bulls failed to build bullish traction above the $180.00 level. Weakness in the altcoin space is also weighing on Ethereum from a technical standpoint, as investors increasingly favor Bitcoin. Overall, the ETHUSD pair has strong support from the $160.00 level and is still likely to move back towards the $200.00 level in the medium-term. If the ETHUSD pair trades below the $170.00 level, key support is found at the $160.00 and $150.00 levels. If the ETHUSD pair trades above the $170.00 level, key resistance is found at the $180.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official