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Octafx

USDJPY 108.00 possibleThe US dollar has broken to the upside against the Japanese yen currency, following more bullish trade news regarding Sino-US trade talks. Now that bulls have broken above the 107.00 level the rally in the USDJPY pair could easily extend towards the 108.00 level. An inverted head and shoulders pattern on the lower time frames point to a potential move towards 108.80. The USDJPY pair is bullish while trading above the 106.40 level, key resistance is found at the 108.00 and 108.80 levels. The USDJPY pair is only bearish while trading below the 106.40 level, key technical support is found at the 106.00 and 105.40 levels.
by OctaFX_Official
LTCUSD $80.00 increasingly likelyLitecoin is started to grind higher as positive trading sentiment starts to spread through the entire cryptocurrency market space. The LTCUSD pair is increasingly likely to test towards the $80.00 level, although $92.00 is possible if Bitcoin continues to break higher. Overall, Litecoin bulls are showing positive signs that they intend to push the cryptocurrency higher, although they must breach the August high. The LTCUSD pair is only bullish while trading above the $65.00 level, key resistance is found at the $80.00 and $92.00 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
EURUSD 1.0990 upcoming resistanceThe euro currency has made a marginal recovery against the US dollar, following much weaker-than-expected ISM manufacturing data from the US economy. The overall trend still remains bearish for the EURUSD pair, with the 1.0900 level near-term support. Bulls need to move price above the 1.0990 level to encourage a technical test of the 1.1026 resistance level. If the EURUSD pair trades above the 1.0960 level, bulls may test back towards the 1.0990 and 1.1026 levels. The EURUSD pair remains bearish while trading below the 1.0960 level, key support is found at the 1.0900 and 1.0860 levels.
by OctaFX_Official
GBPUSD extremely volatileThe British pound has recovered above the 1.2000 level against the US dollar after bouncing sharply from the 1.1960 support level. United Kingdom politics is generating extreme volatility in the GBPUSD pair, causing price to whipsaw on the latest Brexit headline. Bulls need to keep price above the 1.2020 level to encourage the notion that a medium-term price floor may now be in place. The GBPUSD pair is heavily bearish while trading below the 1.2020 level, key support is found at the 1.1980 and 1.1960 levels. If the GBPUSD pair trades above the 1.2020 level, key resistance is found at the 1.2110 and 1.2155 levels.
by OctaFX_Official
EURUSD 1.1000 now resistanceThe euro has opened the new trading month under pressure against the US dollar after suffering its lowest weekly price close since May 2017. The psychological 1.1000 level is now former key support turned resistance, with 1.1026 level extended resistance. Below the 1.0960 level, the 1.0900 level is the most notable form of technical support for the EURUSD pair this week. The EURUSD pair is heavily bearish while trading below the 1.1100 level, key support is found at the 1.0930 and 1.0900 levels. If the EURUSD pair trades above the 1.1000 level, bulls may test back towards the 1.1015 and 1.1026 levels.
by OctaFX_Official
GBPUSD awaiting PMI dataThe British pound has opened the new trading week below the important 1.2195 level against the US dollar, following renewed demand the greenback. Traders are now awaiting the release of the United Kingdom Manufacturing PMI, which could provoke GBPUSD volatility. Weaker UK PMI data could prompt a test of the 1.2100 support level, while a better than expected number could see bulls forcing price back towards the 1.2200 level. The GBPUSD pair is bearish while trading below the 1.2195, key support is found at the 1.2130 and 1.2100 levels. If the GBPUSD pair trades above the 1.2195 level, key resistance is found at the 1.2220 and 1.2250 levels.
by OctaFX_Official
ETHUSD awaiting reversalEthereum is holding steady in early week trade after the second-largest cryptocurrency closed August heavily in the red. The ETHUSD pair has so far found technical support around the $165.00 level, with the immediate downside risk being a further drop to the $150.00 level. The lower time frames are showing a potential bullish reversal pattern, which could take the ETHUSD pair back towards the $180.00 level. If the ETHUSD pair trades below the $165.00 level, key support is found at the $160.00 and $150.00 levels. If the ETHUSD pair trades above the $165.00 level, key resistance is found at the $180.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
USDJPY 107.00 revisitedThe US dollar has regained its short-term bullish bias against the Japanese yen currency as the pair recovers its former weekly losses. The USDJPY pair is being boosted by positive sentiment, as reports surface that Sino-US trade talks will begin next Thursday. Overall, a sustained move above the 107.00 resistance level opens-the-door for further gains towards the 108.00 level. The USDJPY pair is bullish while trading above the 106.40 level, key resistance is found at the 107.00 and 108.00 levels. The USDJPY pair is only bearish while trading below the 106.40 level, key technical support is found at the 106.00 and 105.00 levels.
by OctaFX_Official
LTCUSD now oversoldLitecoin is still under bearish pressure in early Friday trade after the fifth-largest cryptocurrency looks set to close the month of August heavily in the red. The LTCUSD pair is approaching its bearish target, while the RSI indicator is now oversold on the daily time frame. Overall, the LTCUSD pair is likely to become an attractive short-term buy if the cryptocurrency starts to find a meaningful price floor. The LTCUSD pair is only bullish while trading above the $80.00 level, key resistance is found at the $92.00 and $100.00 levels. If the LTCUSD pair trades below the $70.00 level, key support is found at the $65.00 and $55.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD buyers disappearThe euro is falling back towards its current monthly trading low against the US dollar as the pair fails to rally on any positive news. The EURUSD monthly price close is coming into focus, with a monthly price close under the 1.1030 likely to set a bearish precedence for next month. The prospect of additional policy support from the ECB in just under two-weeks time is causing buyers to disappear. The EURUSD pair is heavily bearish while trading below the 1.1110 level, key support is found at the 1.1030 and 1.1000 levels. If the EURUSD pair trades above the 1.1090 level, bulls may test back towards the 1.1110 and 1.1130 levels.
by OctaFX_Official
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GBPUSD reverses from supportThe British pound is holding back above the 1.2200 level against the US dollar after quickly reversing from the 1.2150 level. The well-flagged neckline of the head and shoulders pattern on the one-hour time frame is found at the 1.2195. The four-hour time frame tells a different story, with a bullish pattern still holding an upside projection close to 1.2500. The GBPUSD pair is bearish while trading below the 1.2195, key support is found at the 1.2110 and 1.2000 levels. If the GBPUSD pair trades above the 1.2195 level, key resistance is found at the 1.2310 and 1.2380 levels.
by OctaFX_Official
EURUSD 1.0960 possibleThe euro currency has fallen to a fresh weekly low against the US dollar, completely eroding all of last Friday’s hard-earned trading gains. Technical analysis suggests that a break below the 1.1030 level opens-the-door for further losses towards the 1.0960 level. Bears may have to wait until the upcoming ECB policy meeting before a major technical breakout occurs in the EURUSD pair. If the EURUSD pair trades above the 1.1110 level, bulls may test back towards the 1.1130 and 1.1160 levels. The EURUSD pair is heavily bearish while trading below the 1.1110 level, key support is found at the 1.1030 and 1.0960 levels.
by OctaFX_Official
BTCUSD bearish signalBitcoin has slipped to a new two-week low in early Thursday trade after bearish news forced the cryptocurrency under the $9,700 level. The $9,400 level is the next big level to watch for the BTCUSD pair before the critical $9,100 support level. A number of key technical indictor are all flashing short-term sell signals. The BTCUSD pair is only bullish while trading above the $10,250 level, key resistance is located at the $10,700 and $11,000 levels. If the BTCUSD pair trades under the $9,900 level, sellers may test towards the $9,400 and $9,100 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
LTCUSD $55.00 targetLitecoin is still under fairly severe downside pressure on Wednesday as the broader cryptocurrency market fails to attract a sustained bid. The bearish head and shoulders pattern on the four-hour time frame still suggests that the LTCUSD pair could fall to the $55.00 level. Overall, a break under the $70.00 level still remains the trigger for more short-term Litecoin selling. The LTCUSD pair is only bullish while trading above the $100.00 level, key resistance is found at the $110.00 and $120.00 levels. If the LTCUSD pair trades below the $70.00 level, key support is found at the $65.00 and $55.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD hits 1.2310The British pound has surged to its highest trading level since late-July against the US dollar as dip-buyers retain control of the pair. The GBPUSD pair has hit its near-term bullish target, at 1.2310, although the larger upside objective is closer to the 1.2500 level. Bulls will need to hold price above the 1.2310 level to encourage additional buying towards the 1.2380 resistance area. The GBPUSD pair is only bearish while trading below the 1.2195 level, key support is found at the 1.2155 and 1.2100 levels. If the GBPUSD pair trades above the 1.2310 level, buyers may test towards the 1.2380 and 1.2480 levels.
by OctaFX_Official
EURUSD 1.1050 in focusThe euro has seen a pick-up in selling against the greenback, as traders continue to sell any moves above the 1.1100 resistance level. If weakness persists we are likely to see the former weekly low come into focus, with the 1.1020 level the foremost weekly support zone below. Buyers need to move price above the 1.1130 level, although bullish sentiment currently appears fairly weak. If the EURUSD pair trades below the 1.1110 level, sellers may test towards the 1.1050 and 1.1020 levels. If the EURUSD pair trades above the 1.1110 level, bulls may test towards the 1.1130 and 1.1160 levels.
by OctaFX_Official
ETHUSD $160.00 increasingly likelyEthereum is still failing to attract buying interest above the $200.00 level, leaving a further drop towards the $160.00 level increasingly likely. A bearish head and shoulders pattern has formed on the lower time frames which shows a potential fall in the ETHUSD pair. Overall, the $200.00 to $180.00 price range is critical for the direction of the second-largest cryptocurrency this week. If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $210.00 and $230.00 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