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Octafx

USDJPY 106.90 swingThe US dollar has staged a huge recovery against the Japanese yen currency following the suspension of the latest US trade tariffs on China. The move towards the 106.90 level has provided an excellent swing trade for USDJPY bears, with the 105.00 level a solid target. Only a sustained move above the 106.90 level will start to shift the USDJPY pairs short-term bias to bullish. The USDJPY pair is only bearish while trading below the 106.90 level, key support is found at the 105.40 and 105.00 levels. The USDJPY pair is only bullish while trading below the 106.90 level, key technical resistance is found at the 107.30 and 107.60 levels
by OctaFX_Official
EURUSD awaiting GDP dataThe euro has slumped back below the 1.1200 level against the US dollar following better than expected US data and renewed demand for the greenback. Weaker than expected EU data may prompt another technical test of the important 1.1160 support level. Overall, traders are growing more bullish towards the US dollar and the US economy now that Chinese trade tariffs have been pushed back. The EURUSD pair is strongly bearish while trading below the 1.1160 level, key support is found at the 1.1145 and 1.1135 levels. If the EURUSD pair trades above the 1.1225 level, bulls may test towards the 1.1248 and 1.1290 levels.
by OctaFX_Official
LTCUSD bears in chargeLitecoin remains under downside pressure on Monday as the popular cryptocurrency fails to attract any meaningful buying interest. Overall, a breakdown below the $82.00 level is likely to prompt a further bearish move towards at least the $70.00 level. Only a sustained move above the $130.00 resistance level can secure the fifth largest cryptocurrencies overall weekly outlook. The LTCUSD pair is only bullish while trading above the $130.00 level, key resistance is found at the $140.00 and $165.00 levels. If the LTCUSD pair trades below the $82.00 level, key support is found at the $70.00 and $65.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
3
EURUSD triangle actionThe euro currency is trading just below the 1.1200 level against the US dollar, following a strong rebound from the 1.1160 level on Monday. Frustratingly, the trading action for the EURUSD pair is still centered around the triangle pattern on the four-hour time frame. Overall, bulls need to break above the 1.1225 level intraday to secure yet another technical test towards the 1.1248 resistance level. The EURUSD pair is only bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1248 level, bulls may test towards the 1.1290 and 1.1323 levels.
by OctaFX_Official
GBPUSD 1.2080 now keyThe British pound has a neutral intraday bias against the US dollar, after an impressive recovery from just above the 1.2000 level on Monday. The 1.2080 level remains the key intraday pivot for the GBPUSD pair and a key technical breakout level across the lower time frames. If GBPUSD bulls can hold price above the 1.2080 level, we should expect a rally back towards the 1.2200 resistance level. The GBPUSD pair is bearish while trading below 1.2080, key support is found at the 1.2020 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
EURUSD watching the rangeThe euro continues to hold around the 1.1200 level against the US dollar as traders await a much-needed breakout in the US dollar index this week. The 1.1160 level is the key support level to watch and the gateway to further losses towards the 1.1135 level. Bulls also have an interesting set-up this week, with gains above the 1.1250 likely to prompt a key technical test of the EURUSD pairs 200-day moving average. The EURUSD pair is only bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1180 level, bulls may test towards the 1.1248 and 1.1290 levels.
by OctaFX_Official
BTCUSD bulls need to defend $11,100Bitcoin is trading slightly lower in early week trade, following a sustained move below near-term support around the $11,500 level. Bitcoin bulls need to keep price above the $11,100 support level to maintain its current short-term positive trading bias. The BTCUSD pair will need to break above the $12,000 level this week or the largest cryptocurrency may face losing upside momentum. 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 $11,100 level, sellers may test towards the $10,800 and $10,400 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
5
GBPUSD 1.2000 bounce or sinkThe British pound has fallen to yet another multi-year low against the US dollar, following the negative second-quarter GDP report from the UK economy. Dip-buyers may be looking to enter into GBPUSD slightly below the 1.2000 level as the pair is attractively priced. Overall, the key area to watch this week is the Brexit referendum spike, which is found just above the 1.1900 level. The GBPUSD pair is bearish while trading below 1.2200, key support is found at the 1.1980 and 1.1940 levels. If the GBPUSD pair trades above the 1.2200 level, buyers may test towards the 1.2250 and 1.2310 levels.
by OctaFX_Official
4
EURUSD growing bullishThe euro is once again attempting to gain traction above the 1.1200 level against the US dollar, following another impressive recovery from the 1.1180 level. Buyers need to negate the double-top pattern formation to secure the next bullish rally towards the 1.1290 region. The EURUSD pair is also becoming increasingly sensitive to calls from US President Donald Trump calling for a strong US dollar. The EURUSD pair is only bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1180 level, bulls may test towards the 1.1238 and 1.1290 levels.
by OctaFX_Official
2
ETHUSD $220.00 key pivotEthereum continues to slip lower in early Friday trade after finding strong technical resistance from the $240.00 level earlier this week. Sustained weakness below the $220.00 level will likely prompt an important technical test of the $207.00 support level. If ETHUSD bounces from the $220.00 level, the second-largest crypto could start to rally towards the $280.00 level. If the ETHUSD pair trades below the $220.00 level, key support is found at the $207.00 and $190.00 levels. If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $240.00 and $280.00 levels
BITSTAMP:ETHUSD
by OctaFX_Official
2
GBPUSD data focusThe British pound is trading on the back foot against the US dollar, ahead of the release of important second-quarter GDP data from the United Kingdom economy. A break below the 1.2080 level will start to put the psychological 1.2000 support level in focus. Better than expected United Kingdom GDP data may see a strong rally back towards the pivotal 1.2250 resistance level. The GBPUSD pair is only bearish while trading below 1.2200, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2200 level, buyers may test towards the 1.2250 and 1.2310 levels.
by OctaFX_Official
2
EURUSD double-top weighsThe euro is appearing increasingly bullish against the US dollar in the short-term, with the pair becoming bought up sharply on any technical pullbacks. If EURUSD bulls can stabilize price above the bearish double-top pattern, the pair could launch an attack towards huge weekly resistance, at 1.1290. Only a sustained move below the 1.1187 level can dampen the bullish sentiment towards the EURUSD. The EURUSD pair is only bearish while trading below the 1.1187 level, key support is found at the 1.1160 and 1.1135 levels. If the EURUSD pair trades above the 1.1238 level, bulls may test towards the 1.1290 and 1.1323 levels.
by OctaFX_Official
LTCUSD $70.00 attractive buyLitecoin is under pressure on Thursday as the fifth-largest cryptocurrency by market capitalization fails to attract interest above the $100.00 level. If Litecoin slides below the $82.00, the pair could become a strong medium-term buy around the $70.00 level. The four-hour time frame is currently showing a bearish head and shoulders pattern that is continuing to unfold to the downside. The LTCUSD pair is only bullish while trading above the $100.00 level, key resistance is found at the $105.00 and $120.00 levels. If the LTCUSD pair trades below the $100.00 level, key support is found at the $82.00 and $70.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
USDJPY 105.40 trigger levelThe US dollar has fallen to a fresh monthly trading low against the Japanese yen and bounced sharply, as risk-off trading sentiment pauses. The USDJPY pair may test back towards the 107.00 level if bulls can edge price back above the 106.60 resistance area. Technical indicators across the lower time frames are having a much-needed correction from extreme oversold levels. The USDJPY pair is bearish while trading below the 106.00 level, key support is found at the 105.50 and 105.00 levels. The USDJPY pair is only bullish while trading below the 106.00 level, key technical resistance is found at the 106.60 and 106.90 levels.
by OctaFX_Official
2
GBPUSD fails at 1.2200 againThe British pound is back under downside pressure against the US dollar after the pair suffered a hard technical rejection from the 1.2200 resistance level. The GBPUSD pair may test back towards the 1.2080 level as upside momentum starts to fade again. Overall, traders may start to exit positions ahead of the release of the main weekly market mover for sterling, second-quarter GDP data from the UK economy. The GBPUSD pair is only bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2250 level, buyers may test towards the 1.2310 and 1.2350 levels.
by OctaFX_Official
EURUSD dip buying preferredThe euro currency is becoming increasingly bullish against the US dollar in the short-term, as the pair continues to hold price above key technical support. EURUSD dip-buying is now preference as bulls attempt to force price above the 1.1238 resistance barrier. Overall, the EURUSD pair is only technically bearish on an intraday basis while trading below the 1.1187 support level. The EURUSD pair is only bearish while trading below the 1.1187 level, key support is found at the 1.1170 and 1.1138 levels. If the EURUSD pair trades above the 1.1187 level, bulls may test towards the 1.1238 and 1.1280 levels.
by OctaFX_Official
BTCUSD $13,000 targetBitcoin is attempting to regain short-term upside momentum, following a strong corrective move lower from the $12,300 resistance level. The early week range break above the $11,100 level is still likely to provoke a test towards the $13,000 resistance level. Only a sustained move back under the $11,100 level can cause the short-term sentiment for the BTCUSD pair to turn bearish. The BTCUSD pair is only bullish while trading above the $11,100 level, key resistance is located at the $12,300 and $13,000 levels. If the BTCUSD pair trades under the $11,100 level, sellers may test towards the $10,800 and $10,400 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
3
GBPUSD more weakness expectedThe British pound remains vulnerable to further losses against the US dollar this week, following another heavily bearish weekly price close. Negative UK PMI services data later today could push the GBPUSD pair lower for a major test of the 1.2000 support level. In the near-term, if sterling bulls can regain control, they are likely to face strong resistance from the 1.2250 level. The GBPUSD pair is bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2250 level, buyers may test towards the 1.2310 and 1.2350 levels.
by OctaFX_Official
EURUSD lower before higherThe euro is trading around the 1.1130 level against the US dollar, after a fairly solid former weekly price close back above the 1.1100 support level. Traders may need more technical confirmation that a meaningful bottom is in place before turning fully short-term bullish on the EURUSD. Overall, EURUSD traders should be on guard for a bullish double-bottom pattern forming this week. The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1040 and 1.1020 levels. If the EURUSD pair trades above the 1.1100 level, bulls may test towards the 1.1140 and 1.1185 levels.
by OctaFX_Official
BTCUSD huge range breakBitcoin is starting to build strength in early week trade, following a successful break above the top-end of the number one crypto’s short-term price range. BTCUSD buyers now need to close price above the $11,700 level to provoke another test of the $13,000 level. Overall, the short-term trend for the BTCUSD pair is bullish, favoring buying any dips back towards the $11,100 level. The BTCUSD pair is only bullish while trading above the $11,100 level, key resistance is located at the $11,700 and $13,000 levels. If the BTCUSD pair trades under the $11,100 level, sellers may test towards the $10,800 and $10,400 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
USDJPY watching 106.82The US dollar has reversed sharply against the Japanese yen after President Trump announced another round of trade tariffs on Chinese imports coming into America. The 106.40 level is now in focus, with the 106.82 level the foremost technical support before. Overall, a move below the 106.82 level will completely invalidate the bullish inverted head and shoulders pattern on the four-hour time frame The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels. The USDJPY pair is bearish while trading below the 108.60 level, key technical support is found at the 106.82 and 106.40 levels.
by OctaFX_Official
GBPUSD limited bounceThe British pound has staged a bounce from the 1.2080 level against the US dollar, following a string of softer US macroeconomic data releases. Minor bounces back towards the 1.2200 resistance level may occur, although further downside towards the 1.2000 is still expected. Traders are also focused on the US monthly jobs report later today, with any downside shocks likely to be taken as negative for the US dollar. The GBPUSD pair is bearish while trading below 1.2250, key support is found at the 1.2080 and 1.2000 levels. If the GBPUSD pair trades above the 1.2150 level, buyers may test towards the 1.2189 and 1.2220 levels.
by OctaFX_Official
ETHUSD triangle break loomsEthereum is attempting to build bullish momentum above the $210.00 level after another failed attempt to hold price below the $200.00 level. The lower time frames are showing that the ETHUSD pair is trading inside a triangle pattern, pointing to an upcoming technical break. The upside trendline is found at the $225.00 level, while trendline support comes in around the $200.00 level. If the ETHUSD pair trades below the $200.00 level, key support is found at the $188.00 and $165.00 levels. If the ETHUSD pair trades above the $225.00 level, key resistance is found at the $235.00 and $255.00 levels
BITSTAMP:ETHUSD
by OctaFX_Official