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Octafx

USDJPY on the riseThe US dollar has staged a powerful reversal from the 104.50 level against the Japanese yen, with the counter-rally so far moving slightly above the 106.00 level. Buyers need to move price above the 106.40 level to really accelerate technical buying interest. The latest moves in the USDJPY reminds traders that the pair is incredibly sensitive to Sino-US trade news. The USDJPY pair is only bullish while trading above the 106.00 level, key technical resistance is found at the 106.40 and 107.00 levels. The USDJPY pair is bearish while trading below the 106.00 level, key support is found at the 105.50 and 104.50 levels.
by OctaFX_Official
BTCUSD $9,900 key supportBitcoin is slightly higher in early week trade, following another a quick recovery towards the $10,600 resistance level earlier today. The $9,900 level is the key support level to watch intraday, as it represents the BTCUSD pairs 100-day moving average. Overall, unless the $10,600 level is broken with conviction, the largest cryptocurrency could fall back towards the $9,450 level. The BTCUSD pair is only bullish while trading above the $10,600 level, key resistance is located at the $11,000 and $11,500 levels. The BTCUSD pair is only bearish while trading under the $10,600 level, sellers may test towards the $9,750 and $9,450 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD 1.1130 pivot areaThe euro is attempting to gain bullish momentum against the US dollar, following Friday’s strong recovery above the 1.1150 resistance level. Buyers need to keep price above the 1.1130 level to mount another challenge towards the important 1.1160 resistance area. Overall, the recently created bullish double-bottom pattern and the weaker greenback are helping to boost the recovery. If the EURUSD pair trades above the 1.1130 level, bulls may test towards the 1.1160 and 1.1190 levels. If the EURUSD pair trades below the 1.1130 level, sellers may test towards the 1.1100 and 1.1080 levels.
by OctaFX_Official
GBPUSD higher high in placeThe British pound remains well-supported against the US dollar in early Monday trade, after a fairly bullish weekly price close on Friday. The recent advance towards the 1.2300 level has created another higher high, further encouraging traders to buy the GBPUSD pair. Overall, the large inverted head and shoulders pattern on the lower time frame is projecting that pair could recover towards the 1.2500 level. The GBPUSD pair is only bearish while trading below the 1.2200 level, key support is found at the 1.2177 and 1.2150 levels. If the GBPUSD pair holds above the 1.2200 level, buyers may test towards the 1.2310 and 1.2380 levels.
by OctaFX_Official
GBPUSD 1.2310 major resistanceThe British pound has staged a strong upside rally against the US dollar, following the release of more positive news regarding Brexit negotiations. GBPUSD bulls have now triggered a bullish inverted head and shoulders pattern, with the 1.2480 level the overall target. The 1.2310 level is the next major resistance level to watch if bulls can maintain the GBPUSD pair above the 1.2250 level. The GBPUSD pair is only bearish while trading below the 1.2200 level, key support is found at the 1.2150 and 1.2080 levels. If the GBPUSD pair holds above the 1.2200 level, buyers may test towards the 1.2310 and 1.2360 levels.
by OctaFX_Official
EURUSD new lowThe euro is back under downside pressure against the greenback, after suffering another upside rejection from the 1.1110 level and falling to fresh new weekly trading low. Technically, the EURUSD is going to struggle to find attract buying interest if the pair continues to fail above the 1.1100 level. Chair Powell’s speech later today and the upcoming G7 meeting is also causing subdued trading action. If the EURUSD pair trades above the 1.1110 level, bulls may test towards the 1.1130 and 1.1146 levels. If the EURUSD pair trades below the 1.1050 level, sellers may test towards the 1.1020 and 1.1000 levels.
by OctaFX_Official
ETHUSD not bullish yetEthereum is attempting towards the $200.00 level after the second-largest cryptocurrency found strong technical support from the $180.00 level. Bulls need to rally the ETHUSD pair above the $210.00 level to trigger a much stronger move higher towards the $230.00 region. If sellers can move price back under the current monthly low the ETHUSD pair could fall another $10.00. 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 $190.00 level, key support is found at the $180.00 and $170.00 levels
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD PMI data keyThe euro currency is trader slightly lower against the US dollar in early Thursday trade, following a fairly uneventful FOMC Meeting Minutes. The release of EU PMI Manufacturing data is the main market mover for EURUSD pair, with bearish German data likely to force a test of the 1.1050 level. A better than expected German PMI number could prompt another test of the 1.1110 level. If the EURUSD pair trades above the 1.1110 level, bulls may test towards the 1.1130 and 1.1146 levels. If the EURUSD pair trades below the 1.1070 level, sellers may test towards the 1.1050 and 1.1020 levels.
by OctaFX_Official
GBPUSD new high neededThe British pound is still holding above the 1.2100 level against the US dollar, although the pace of recent gains has now started to slow down. Bulls need to move price above the current weekly trading high to encourage buying towards the 1.2200 level. Overall, a potential inverted head and shoulders pattern may be forming while price holds above the 1.2080 support region. The GBPUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2050 and 1.2020 levels. If the GBPUSD pair holds above the 1.2080 level, buyers may test towards the 1.2200 and 1.2250 levels.
by OctaFX_Official
BTCUSD bearish below $10,600Bitcoin has suffered heavy losses after the number one cryptocurrency was strongly rejected from just under the $11,000 level earlier this week. Bulls need to move price back above the $10,500 level to secure the BTCUSD pairs short-term outlook. Overall, selling technical pullbacks is favoured over buying while the BTCUSD pair trades under the important $10,600 level. The BTCUSD pair is only bullish while trading above the $10,600 level, key resistance is located at the $11,000 and $11,500 levels. The BTCUSD pair is only bearish while trading under the $10,600 level, sellers may test towards the $9,750 and $9,450 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD support holdsThe euro currency is holding firm above the 1.1070 level against the US dollar as the pairs current yearly trading low remains intact. Bearish fundamental news has failed to push the EURUSD pair lower, which may encourage bulls to test towards the current weekly high. Overall, the release of the FOMC Meeting Minutes should be the next directional catalyst for the EURUSD pair. The EURUSD pair is bearish while trading below the 1.1100 level, key support is found at the 1.1070 and 1.1050 levels. If the EURUSD pair trades above the 1.1100 level, bulls may test towards the 1.1110 and 1.1130 levels.
by OctaFX_Official
LTCUSD still technically weakLitecoin is testing lower in early Wednesday trade after the fifth-largest cryptocurrency was heavily rejected from the $80.00 resistance level. A sustained break of the $70.00 support level is likely to see the LTCUSD pair to fall towards the $60.00 level. Overall, despite being oversold the LTCUSD pair has yet to attract buying interest, which points to a possible deeper decline. 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 $60.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD targeting 1.2200The British pound has seen a strong bullish reversal against the US dollar, following the release of positive Brexit news on Tuesday. The recovery from the 1.2080 level has shown that short-term bulls are back in control of the GBPUSD pair and may soon target the 1.2200 level. Given the sentiment shift in the GBPUSD pair, buying dips is current the preferred intraday strategy. The GBPUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2050 and 1.2020 levels. If the GBPUSD pair moves above the 1.2080 level, buyers may test towards the 1.2200 and 1.2250 levels.
by OctaFX_Official
USDJPY triangle in focusThe US dollar is holding onto its recent strong gains against the Japanese yen currency, following a bullish move above the 106.50 level. The four-hour time frame currently shows that a bullish upside breakout from a large triangle pattern has now taken place. The upside target is the 108.00 level, although USDJPY buyers currently face strong technical resistance from the 107.00 level. The USDJPY pair is only bearish while trading below the 106.50 level, key support is found at the 106.00 and 105.50 levels. The USDJPY pair is only bullish while trading above the 106.50 level, key technical resistance is found at the 107.00 and 108.00 levels.
by OctaFX_Official
EURUSD potential bullish patternThe euro is still trapped around the 1.1100 level against the US dollar as the traders remain cautious ahead of the FOMC Meeting Minutes and EU PMI data later this week. If buyers can continue to defend the 1.1150 to 1.1170 price region a potential double-bottom pattern could form this week. Overall, unless buyers take price above the 1.1160, selling EURUSD is still preferred. The EURUSD pair is bearish while trading below the 1.1100 level, key support is found at the 1.1070 and 1.1050 levels. If the EURUSD pair trades above the 1.1100 level, bulls may test towards the 1.1130 and 1.1160 levels.
by OctaFX_Official
BTCUSD buy pullbacksBitcoin has opened the new trading week in a bullish mood, as the first cryptocurrency continues to recover after last weeks drop towards the $9,500 level. Buying any technical pullbacks is currently preferred as the BTCUSD pair could move back towards the $10,100 to $10,500 levels. Overall, the BTCUSD pair could start to target the $11,500 level, if buyers maintain price above the $10,100 level. The BTCUSD pair is only bullish while trading above the $10,100 level, key resistance is located at the $11,000 and $11,500 levels. The BTCUSD pair is only bearish while trading under the $10,100 level, sellers may test towards the $9,750 and $9,400 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD 1.2150 rejectionThe British pound has started to give back recent gains against the US dollar following a strong technical rejection from the 1.2150 level. The recent rejection has also helped to form a large head and shoulders pattern across the lower time frames. Bears now need to force the GBPUSD pair back under the 1.2080 level to turn the intraday sentiment heavily bearish again. The GBPUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2055 and 1.2000 levels. If the GBPUSD pair holds above the 1.2080 level, buyers may test towards the 1.2155 and 1.2200 levels.
by OctaFX_Official
EURUSD bears in controlThe euro currency has fallen back towards the 1.1100 level against the US dollar after crashing below the 1.1130 support level on Thursday. The euro is extremely bearish while trading below the 1.1100 level and now risks falling back towards its current yearly low. Bulls will be looking for a double-bottom formation, however, the fundamentals behind the EURUSD are worsening. The EURUSD pair is heavily bearish while trading below the 1.1130 level, key support is found at the 1.1130 and 1.1100 levels. If the EURUSD pair trades above the 1.1130 level, bulls may test towards the 1.1160 and 1.1200 levels.
by OctaFX_Official
BTCUSD $10,000 new pivotBitcoin is attempting to recover upside momentum, after the number one cryptocurrency found strong support from the $9,400 level. The $10,000 level is now a natural pivot for the BTCUSD pair and key area to watch for a potential technical correction back towards the $10,400 to $10,800 resistance zone. Sellers may start to attack back toward the $9,400 level if the BTCUSD pir fails to attract any buying interest above the $10,000 level. The BTCUSD pair is only bullish while trading above the $11,100 level, key resistance is located at the $12,000 and $12,300 levels. If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,400 and $9,080 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD awaiting retail salesThe British pound remains vulnerable to further losses against the US dollar, ahead of the release of United Kingdom Retail Sales data this morning. Weaker than expected UK data could easily spark a bearish decline in the GBPUSD pair under the 1.2000 support level. Stronger data may support another run at the 1.2100 level, although GBPUSD bulls may need the pair to move lower to a more attractive price before moving in heavily. The GBPUSD pair is bearish while trading below 1.2080, key support is found at the 1.2000 and 1.1980 levels. If the GBPUSD pair trades above the 1.2080 level, buyers may test towards the 1.2160 and 1.2200 levels.
by OctaFX_Official
ETHUSD value playEthereum has fallen under the $200.00 level as the entire cryptocurrency market comes under heavy downside selling pressure. The ETHUSD pair may become an attractive buy from current levels, given that the second largest cryptocurrency is technically oversold. Bulls moving in from current levels would need to move price back above the $220.00 level to steady market sentiment. If the ETHUSD pair trades below the $200.00 level, key support is found at the $170.00 and $160.00 levels. If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $220.00 and $240.00 levels
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD 1.1130 criticalThe euro is back under severe technical pressure against the greenback after breaking through the key 1.1160 support level on Wednesday. Bears could easily force a deeper decline towards the 1.1100 level if the 1.1130 support level becomes breached. Overall, market sentiment towards the EURUSD pair is very bearish while price continues to trade below the pivotal 1.1160 level. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1130 and 1.1100 levels. If the EURUSD pair trades above the 1.1160 level, bulls may test towards the 1.1200 and 1.1250 levels.
by OctaFX_Official
EURUSD 1.1130 criticalThe euro is back under severe technical pressure against the greenback after breaking through the key 1.1160 support level on Wednesday. Bears could easily force a deeper decline towards the 1.1100 level if the 1.1130 support level becomes breached. Overall, market sentiment towards the EURUSD pair is very bearish while price continues to trade below the pivotal 1.1160 level. The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1130 and 1.1100 levels. If the EURUSD pair trades above the 1.1160 level, bulls may test towards the 1.1200 and 1.1250 levels.
by OctaFX_Official