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Octafx

EURUSD decisive week aheadThe euro has opened the new trading week slightly weaker against the US dollar after the pair suffered heavy losses after moving below the 1.1248 level. Going forward, the EURUSD faces a decisive week ahead as the ECB decides on rates and possibly QE timing. Over-delivering or underwhelming are all real risks ahead for the EURUSD pair. In the short-term, a breakout from between the 1.1200 to 1.1248 price range will be the next big mover for the EURUSD pair. The EURUSD pair is only bearish while trading below the 1.1248 level, key support is found at the 1.1200 and 1.1175 levels. If the EURUSD pair trades above the 1.1248 level, bulls could test back towards the 1.1285 and 1.1310 levels.
by OctaFX_Official
USDJPY holding bear attackThe US dollar has started the new trading week testing the 108.00 handle against the Japanese yen currency despite escalating geopolitical tension in the Strait of Hormuz. The USDJPY suffered a strong rejection from just below the 109.30 area last week, bears will be looking for a lower weekly high. Overall, USDJPY sellers are likely to target the 107.00 to 106.80 support zone. The USDJPY pair is bearish while trading below the 108.00 level, key support is found at the 107.00 and 106.80 levels. The USDJPY pair is only bullish while trading above the 108.00 level, key technical resistance is found at the 108.93 and 109.23 levels.
by OctaFX_Official
LTCUSD watching 100.00 levelLitecoin has staged a strong recovery alongside Bitcoin, with the fourth-largest cryptocurrency posting double-digit gains on Friday. The LTCUSD pair has recovered back to key neckline resistance, although bulls are still struggling with the $100.00 resistance level. Technical rejection from the $100.00 level should spark a sell-off back towards the $90.00 level, while a bullish breakout should target the $107.00 level. The LTCUSD pair is only bullish while trading above the $93.00 level, key resistance is found at the $100.00 and $107.00 levels. If the LTCUSD pair trades below the $93.00 level, key support is found at the $90.00 and $75.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD watching 1.2550The British pound continues to enjoy fresh buying interest against the US dollar as bulls hold price above the pivotal 1.2530 level. Further intraday gains above the 1.2550 level could propel the GBPUSD pair towards the 1.2610 resistance area. The GBPUSD pair will post a huge bullish weekly reversal candle if the daily candle closes above the former weekly open, at 1.2551. The GBPUSD pair is bullish while trading above the 1.2530 level, key resistance is located at the 1.2580 and 1.2610 levels. If the GBPUSD pair trades below the 1.2530 level, key support is found at the 1.2510 and 1.2480 levels.
by OctaFX_Official
EURUSD 1.1200 holds againThe euro is trading back above the 1.1248 level against the US dollar in early Friday trade after bears once again failed to move the pair below the 1.1200 level. Bulls now need to move price above the 1.1285 level to encourage fresh EURUSD buying interest. Bears need to break the 1.1200 support level over the coming trading sessions or EURUSD sellers may start to lose conviction. The EURUSD pair is only bearish while trading below the 1.1248 level, key support is found at the 1.1200 and 1.1185 levels. If the EURUSD pair trades above the 1.1248 level, bulls could test back towards the 1.1285 and 1.1310 levels.
by OctaFX_Official
GBPUSD 1.2480 upcoming resistanceThe British pound continues to recovery against the greenback after the pair found solid technical support from the key 1.2380 level. Sterling traders are now awaiting UK retail sales data, with better than expected numbers likely to provoke a strong test of the 1.2480 area. Worse than expected UK retail sales data may see the GBPUSD pair sold back towards the 1.2415 support level. If the GBPUSD trades below the 1.2440 level, key support is located at the 1.2415 and 1.2380 levels. If the GBPUSD pair holds above the 1.2440 level, key resistance is found at the 1.2480 and 1.2510 levels.
by OctaFX_Official
USDJPY 107.00 targetThe US dollar is probing the downside against the Japanese yen currency after being strongly rejected from its key weekly pivot point. A sustained bearish breakdown below the 107.80 level is likely to see the USDJPY pair testing towards at least the 107.50 support level. The USDJPY pair also appears vulnerable to risk-off trading sentiment and a steep decline in global equity markets. The USDJPY pair is bearish while trading below the 108.23 level, sellers may test back towards the 107.50 and 107.10 levels. The USDJPY pair is only bullish while trading above the 108.23 level, key technical resistance remains at the 108.45 and 108.60 levels.
by OctaFX_Official
BTCUSD daily closes now keyBitcoin has staged a minor recovery from the $9,100 support level, following the early breakout below the July 2nd trading low. Daily price closes around the $9,600 level are now key and are likely to be the next directional catalyst for the BTCUSD pair. Short-term technical indicators also have a much-needed bullish correction are now reaching extreme oversold conditions on Wednesday. The BTCUSD pair is only bullish while trading above the $9,600 level, key resistance is located at the $10,000 and $10,400 levels. If the BTCUSD pair trades under the $9,600 level, sellers may test towards the $9,100 and $8,800 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD vulnerable below 1.1220The euro is back under downside pressure against the US dollar after the pair was sold heavily following much worse than expected German data. The EURUSD pair is vulnerable to further losses while trading below the 1.1220 level and could easily test it's former weekly low. The June monthly trading low is the key support level to watch if the 1.1200 support region is convincingly broken. The EURUSD pair is bearish while trading below the 1.1220 level, key support is found at the 1.1185 and 1.1168 levels. If the EURUSD pair trades above the 1.1220 level, bulls could test back towards the 1.1248 and 1.1270 levels.
by OctaFX_Official
GBPUSD 1.2380 now keyThe British pound remains extremely weak against the US dollar on Wednesday, following a breakout move below the current yearly trading low for the pair. If bulls can defend the 1.2380 level the GBPUSD pair could bounce back towards the 1.2470 level over the coming sessions. A breach of the 1.2380 level is likely to see the GBPUSD sold down towards the 1.2340 support region. The GBPUSD pair is only bullish while trading above the 1.2440 level, key resistance is found at the 1.2470 and 1.2510 levels. If the GBPUSD trades below the 1.2440 level, key support is located at the 1.2400 and 1.2380 levels.
by OctaFX_Official
LTCUSD breakdown continuesLitecoin continues to slide lower in early Wednesday trade after bulls failed to hold the cryptocurrency above the pivotal $90.00 resistance level. The LTCUSD pair may start to fall back towards its 200-day moving average where bargain hunters could start to pick up at the crypto at a more attractive price. Overall, the current down move looks set to continue until we see stabilization above the $90.00 level. The LTCUSD pair is only bullish while trading above the $90.00 level, key resistance is found at the $100.00 and $107.00 levels. If the LTCUSD pair trades below the $90.00 level, key support is found at the $73.00 and $60.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD 1.2530 keyThe British pound is struggling to recover higher against the US dollar, ahead of the release of key employment and wage data from the UK economy this morning. The GBPUSD pairs weekly pivot point, at 1.2530 is the key level to watch for signs of a directional bias. A lack of interest to hold the GBPUSD pair above the 1.2530 level may prompt a rebound back towards the 1.2580 area. The GBPUSD pair is only bullish while trading above the 1.2530 level, key resistance is found at the 1.2580 and 1.2610 levels. If the GBPUSD trades below the 1.2530 level, key support is located at the 1.2505 and 1.2470 levels.
by OctaFX_Official
2
EURUSD higher high neededThe euro is trading above the 1.1250 level against the US dollar, with the pair remaining contained in a relatively narrow trading range since last Wednesday. Bulls need to break above the 1.1285 level, to encourage a key technical test of the 1.1310 level. Continued weakness under the 1.1248 level could prompt EURUSD bears to test towards the important 1.1220 support level. If the EURUSD pair trades below the 1.1248 level, key support is found at the 1.1220 and 1.1200 levels. If bulls break the 1.1285 level, the EURUSD pair could trade towards the 1.1310 and 1.1355 levels.
by OctaFX_Official
ETHUSD $220.00 key level to watchEthereum is attempting to recover earlier losses after the second-largest cryptocurrency found strong technical support from just above the $200.00 level. Further technical weakness in the ETHUSD pair should be expected if sellers keep the price below the $220.00 support level. Overall, a major test of the Ethereum’s 200-day moving average, just above the $170.00 level, appears likely at some point. If the ETHUSD pair trades below the $220.00 level, key support is found at the $200.00 and $170.00 levels. If the ETHUSD pair trades above the $220.00 level, key resistance is found at the $235.00 and $255.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
2
GBPUSD 1.2610 now keyThe British pound has opened the new trading week on solid footing against the US dollar, following a strong weekly price around the 1.2570 level. GBPUSD bulls need to advance the pair above the 1.2610 level to encourage a test of the key 1.2660 area. Sustained weakness below the 1.2530 level may start to trouble the GBPUSD pair, placing the emphasis back on the 1.2505 level. The GBPUSD pair is bullish while trading above the 1.2550 level, key resistance is found at the 1.2610 and 1.2660 levels. If the GBPUSD trades below the 1.2550 level, key support is located at the 1.2530 and 1.2505 levels.
by OctaFX_Official
BTCUSD making lower lowsBitcoin is trading back under the $10,600 level in early Monday trade after the BTCUSD pair suffered heavy losses over the weekend. The short and medium-term outlook for the BTCUSD pair is now shifting, with price now making lower highs and crucially, lower lows. A break below the psychological $10,000 level exposes a very important technical test of the $9,600 support level. The BTCUSD pair is only bullish while trading above the $11,800 level, key resistance is located at the $12,000 and $12,400 levels. If the BTCUSD pair trades under the $11,800 level, sellers may test towards the $10,000 and $9,600 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD important week aheadThe euro currency is once again edging higher against the US dollar in early Monday as the technical recover from the current monthly low continues. The EURUSD faces an important week ahead as the trading range for the pair continues to narrow, pointing to a possible technical breakout. Bulls need to clearly break the 1.1310 resistance level, while sellers need to hold price under the 1.1200 level. The EURUSD pair is only bullish while trading above the 1.1248 level, key technical resistance is found at the 1.1280 and 1.1310 levels. If the EURUSD pair trades below the 1.1248 level, key support is found at the 1.1220 and 1.1200 levels.
by OctaFX_Official
ETHUSD further losses expectedEthereum is under heavy technical selling pressure on Friday after breaking under the important $270.00 support level. The ETHUSD pair is tracking Bitcoin lower and is now trading below the neckline of a head and shoulders pattern with a downside target of around $85.00. The $220.00 support level is the next bearish target if Ethereum sellers continue to hold price under the $270.00 level. If the ETHUSD pair trades below the $270.00 level, key support is found at the $250.00 and $220.00 levels. If the ETHUSD pair trades above the $270.00 level, key resistance is found at the $280.00 and $300.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
2
EURUSD 1.1310 next big levelThe euro is holding firm above the 1.1248 level against the US dollar in early Friday trade after finding interim resistance from the 1.1280 level. The 1.1310 level will be the major short-term bullish target if EURUSD buyers can break through the 1.1280 barrier today. A sustained move under the 1.1248 level may prompt yet another test of the technically important 1.1220 support level. The EURUSD pair is only bullish while trading above the 1.1248 level, key technical resistance is found at the 1.1280 and 1.1310 levels. If the EURUSD pair trades below the 1.1248 level, key support is found at the 1.1220 and 1.1205 levels.
by OctaFX_Official
2
GBPUSD recovery continuesThe British pound is holding above critical support against the US dollar as the pair attempts to post a bullish weekly reversal candle and close the trading week back in the green. GBPUSD bulls ideally need to attack the 1.2660 resistance level to cement the pairs improving the short-term outlook. Sustained moves back under the 1.2505 level should be considered technically bearish for the GBPUSD pair. The GBPUSD pair is bullish while trading above the 1.2530 level, key resistance is found at the 1.2610 and 1.2660 levels. If the GBPUSD trades below the 1.2530 level, key support is located at the 1.2505 and 1.2480 levels.
by OctaFX_Official
GBPUSD 1.2530 now keyThe British pound has made a recovery above the 1.2500 level against the greenback, following FED Chair Powell’s dovish testimony yesterday. Bulls need to hold price above the 1.2530 level in order to advance the GBPUSD pair back towards the 1.2580 resistance level. Failure around the 1.2530 level may prompt another round of heavy technical selling back towards the 1.2480 price zone. The GBPUSD pair is only bearish while trading below the 1.2530 level, key support is found at the 1.2505 and 1.2480 levels. The GBPUSD pair is only bullish while trading above the 1.2530 level, key resistance is found at the 1.2580 and 1.2610 levels.
by OctaFX_Official
BTCUSD rejected from $13,000Bitcoin has suffered a heavy technical rejection from the $13,000 level, as bulls failed for the second day to maintain price above this crucial area. The bearish head and shoulders pattern on the four-hour time frame is now complete, with the $11,800 level back in focus. The overall negative sentiment in the entire cryptocurrency market is also weighing on the BTCUSD pair. The BTCUSD pair is only bullish while trading above the $12,400 level, key resistance is located at the $13,000 and $13,300 levels. If the BTCUSD pair trades under the $12,400 level, sellers may test towards the $10,500 and $9,600 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD bullish above 1.1248The euro is continuing to move higher against the US dollar in early Thursday trade, following the dovish FOMC meeting minutes and testimony from Jerome Powell. The EURUSD pair has a bullish intraday bias while trading above the 1.1248 level and may target the 1.1310 level. Technically, a bullish higher-low has also been created on the charts, further encouraging EURUSD buyers. The EURUSD pair is only bullish while trading above the 1.1248 level, key technical resistance is found at the 1.1280 and 1.1310 levels. If the EURUSD pair trades below the 1.1248 level, key support is found at the 1.1220 and 1.1205 levels.
by OctaFX_Official