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Octafx

EURUSD 1.1180 low in focusThe euro has slipped back towards the worst trading levels of the month against the US dollar after the pair failed to move above the 1.1240 resistance area. The EURUSD pair could test towards the last important technical low, at 1.1180, if the 1.1205 level is broken. In summary, the next short-term directional breakout will open once the 1.1205 to 1.1240 range is broken. The EURUSD pair is only bullish while trading above the 1.1240 level, key technical resistance is found at the 1.1255 and 1.1280 levels. If the EURUSD pair trades below the 1.1205 level, key support is found at the 1.1180 and 1.1150 levels.
by OctaFX_Official
1
ETHUSD corrective move possibleEthereum is once again starting to appear comfortable above the $300.00 level as the second largest cryptocurrency tracks Bitcoin higher. A test of demand around the $335.00 level appears likely if ETHUSD bulls can break above the $315.00 resistance level. A confirmed failure to create a new higher high on the monthly chart may also weigh technically on the ETHUSD pair. If the ETHUSD pair trades above the $300.00 level, key resistance is found at the $315.00 and $330.00 levels. If the ETHUSD pair trades below the 300.00 level, key support is found at the $290.00 and $280.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD 1.1255 key pivotThe euro has opened the new trading week with a bearish tone against the US dollar, following the strong Non-farm payrolls headline number last Friday. EURUSD sellers need to breach the 1.1205 level, while bulls need to move price back above the 1.1255 level encourage technical buying. A sustained move below the 1.1205 support level would be extremely bearish for the EURUSD. The EURUSD pair is only bullish while trading above the 1.1255 level, key technical resistance is found at the 1.1280 and 1.1310 levels. If the EURUSD pair trades below the 1.1205 level, key support is found at the 1.1170 and 1.1135 levels.
by OctaFX_Official
1
BTCUSD awaiting confirmationBitcoin continues to trade in a large price range as traders await technical confirmation that a medium-term high has been reached. The BTCUSD pair has posted five consecutive months of trading gains, leaving traders cautious towards selling the number one cryptocurrency. A final technical test back towards the $12,500 and $13,000 resistance levels still remain possible this week. The BTCUSD pair is only bullish while trading above the $10,500 level, key resistance is located at the $12,500 and $13,000 levels. If the BTCUSD pair trades under the $10,500 level, sellers may test towards the $10,200 and $9,800 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
1
GBPUSD soft bounceThe British pound is attempting to recover above the 1.2500 level against the US dollar, after finding interim support from the 1.2480 level on Friday. The bullish inverted head and shoulders pattern has been invalidated on the lower time frames, although the multi-year low around the 1.2430 remains unbroken. The 1.2505 level is now the key daily and weekly pivot point to watch for the GBPUSD pair. The GBPUSD pair is heavily bearish while trading below the 1.2505 level, key support is found at the 1.2480 and 1.2445 levels. GBPUSD pair is only bullish while trading above the 1.2570 level, key resistance is found at the 1.2610 and 1.2660 levels.
by OctaFX_Official
LTCUSD under key supportLitecoin continues to struggle to find a directional bias in early Thursday trade, with the LTUSD pair trapped between the $125.00 to $110.00 levels. The four-hour time frame shows that a bearish head and shoulders pattern with a $20.00 downside projection still remains valid. A move above the $125.00 level may prompt buying interest back towards the important $40.00 level. The LTCUSD pair is only bullish while trading above the $125.00 level, key resistance is found at the $140.00 and $160.00 levels. If the LTCUSD pair trades below the $125.00 level, key support is found at the $110.00 and $95.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
6
EURUSD testing supportThe euro currency is testing towards the worst levels of the month against the US dollar, following more technical rejections from the 1.1300 resistance level. The four-hour time frame shows that a sustained break under the 1.1280 level is needed to provoke the next round of EURUSD selling. Key bearish targets under the 1.1280 level remain the 1.1255 and 1.1222 support regions. The EURUSD pair is only bullish while trading above the 1.1310 level, key technical resistance is found at the 1.1355 and 1.1400 levels. If the EURUSD pair trades below the 1.1280 level, key support is found at the 1.1255 and 1.1222 levels.
by OctaFX_Official
6
GBPUSD 1.2548 interim supportThe British pound continues to trade below the 1.2600 level against the US dollar in early Thursday trade, with the pair suffering three days of consecutive losses. The 1.2548 level is now interim support, with the 1.2505 level major weekly support for the GBPUSD pair. The four-hour time frame shows that a bullish inverted head and shoulders pattern is close to being invalidated. The GBPUSD pair is bearish while trading below the 1.2610 level, key support is found at the 1.2548 and 1.2510 levels. GBPUSD pair is only bullish while trading above the 1.2610 level, key resistance is found at the 1.2660 and 1.2700 levels.
by OctaFX_Official
6
GBPUSD 1.2520 in focusThe British pound has dropped sharply lower against the US dollar, following bearish comments from Bank of England Governor Mark Carney. The 1.2520 support level is likely to come into focus now that the 1.2610 level has been convincingly breached. UK PMI Services data is likely to be the main mover for the GBPUSD pair this morning, with a negative number expected to weigh heavily on the GBPUSD pair. The GBPUSD pair is heavily bearish while trading below the 1.2610 level, key support is found at the 1.2520 and 1.2460 levels. GBPUSD pair is only bullish while trading above the 1.2660 level, key resistance is found at the 1.2710 and 1.2730 levels.
by OctaFX_Official
2
EURUSD 1.1310 struggleThe euro is testing back towards its current monthly trading low against the US dollar, following multiple technical rejections from the 1.1310 level. A sustained break of the 1.1280 level may see the EURUSD pair failing back towards the 1.1255 support region. The release of the US ADP jobs report is likely to be the main market mover for the EURUSD pair later today. The EURUSD pair is only bullish while trading above the 1.1310 level, key technical resistance is found at the 1.1355 and 1.1400 levels. If the EURUSD pair trades below the 1.1310 level, key support is found at the 1.1280 and 1.1255 levels.
by OctaFX_Official
2
BTCUSD $10,200 keyBitcoin it attempting to recover bullish momentum after coming under downside pressure earlier this week below the $10,000 level. The $10,200 support level is the neckline of a bearish head and shoulders pattern with a large four-digit downside projection. The BTCUSD pair may also come under further selling pressure from the series of bearish candles across the weekly and daily time frames. The BTCUSD pair is only bullish while trading above the $10,200 level, key resistance is located at the $11,800 and $12,400 levels. If the BTCUSD pair trades under the $10,200 level, sellers may test towards the $9,000 and $8,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
4
ETHUSD $265.00 upcoming supportEthereum has started the new trading month poorly, with the second largest cryptocurrency slipping below the $300.00 support level. The four-hour time frame shows that a break under the $280.00 level exposes losses until at least the $265.00 level. Overall, a sustained move under the $265.00 level could trigger a much deeper bearish correction for the ETHUSD pair. The ETHUSD pair is only bullish while trading above the $300.00 level, key resistance is found at the $316.00 and $325.00 levels. If the ETHUSD pair trades below the $300.00 level, key support is found at the $280.00 and $265.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
EURUSD bearish below 1.1321The euro is back under pressure against the US dollar in early Tuesday trade, following slightly better Manufacturing data from the United States economy. The 1.1280 level is now key intraday support, with a sustained breakout under this level likely to spark weakness towards the 1.1255 level. The 1.1321 level now becomes the key intraday pivot point for the EURUSD pair. The EURUSD pair is only bullish while trading above the 1.1321 level, key technical resistance is found at the 1.1355 and 1.1400 levels. If the EURUSD pair trades below the 1.1321 level, key support is found at the 1.1280 and 1.1255 levels.
by OctaFX_Official
USDJPY 108.45 breakout neededThe greenback is once again firming against the Japanse yen currency, as the US dollar index climbs back above its key 200-day moving average. A sustained breakout above the 108.45 level is needed on an intraday basis to encourage further buying in the USDJPY pair. The key weekly upside targets for the USDJPY pair extended towards the 109.00 and 109.80 resistance levels. The USDJPY pair is only bearish while trading below the 108.45 level, key support is found at the 108.00 and 107.70 levels. If the USDJPY pair trades above the 108.45 level, key technical resistance is found at the 109.00 and 109.80 levels.
by OctaFX_Official
GBPUSD 1.2685 near-term supportThe British pound has opened the new trading month on the back foot against the US dollar, following a heavy technical rejection from the 1.2730 area on Friday. UK PMI Services data and ISM Manufacturing data are the big drivers for the GBPUSD pair today. Continued weakness is likely to prompt a technical test of the key 1.2660 level, which is likely to act as a key defense or the next bearish trigger level for the pair. The GBPUSD pair is only bullish while trading above the 1.2685 level, key resistance is found at the 1.2730 and 1.2780 levels. If the GBPUSD pair trades below the 1.2685 level, key support is found at the 1.2660 and 1.2610 levels.
by OctaFX_Official
2
BTCUSD range tradeBitcoin has started to settle into a large trading range after the number one cryptocurrency found strong resistance from the $14,000 level last week. Selling the top-end of the BTCUSD pairs is range the preferred strategy until technical readings on the daily time frame correct from overbought. The $11,800 level is the key pivot point for the BTCUSD pair and also the neckline of a much-larger bullish pattern. The BTCUSD pair is bullish while trading above the $11,800 level, key resistance is located at the $12,500 and $13,400 levels. If the BTCUSD pair trades under the $11,800 level, sellers may test towards the $11,000 and $10,600 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
USDJPY risk-on boostThe US dollar has opened the new trading monthly strongly against the Japanese yen after a positive outcome from the G20 leaders meeting over the weekend. The 109.00 resistance level still remains the overall upside short-term objective for USDJPY bulls this week. USDJPY sellers may attempt to enter around this area, following the heavily bearish candle formation on the monthly time frame. The USDJPY pair is only bearish while trading below the 108.10 level, key support remains at the 107.80 and 107.00 levels. If the USDJPY pair trades above the 108.10 level, key technical resistance remains at the 108.44 and 109.00 levels.
by OctaFX_Official
LTCUSD sell below $125.00Litecoin has started to turn berish alongside the broader cryptocurrency market after falling below the key $125.00 level. The four-hour time frame is also showing that the LTCUSD pair has now broken under key trend-line support. Weakness in the LTCUSD pair should be expected in the short and medium-term while price continues to trade below the pivotal $125.00 level. The LTCUSD pair is only bullish while trading above the $125.00 level, key resistance is found at the $140.00 and $160.00 levels. If the LTCUSD pair trades below the $125.00 level, key support is found at the $110.00 and $100.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD soft ahead of UK GDPThe British pound is softening towards key weekly support aginst the US dollar ahead of the release of GDP data from the UK economy this morning. A worse than expected GDP number could see the GBPUSD pair break the 1.2660 support level and test towards at least the 1.2610 area. If bulls can hold support the GBPUSD pair could start to edge back towards the 1.2710 resistance level. The GBPUSD pair is only bullish while trading above the 1.2710 level, key resistance is found at the 1.2775 and 1.2810 levels. If the GBPUSD pair trades below the 1.2660 level, key support is found at the 1.2610 and 1.2550 levels.
by OctaFX_Official
EURUSD inside wedgeThe euro currency remains trapped in a tight range against the US dollar as traders scale back positioning ahead of the start of the G20 Summit. The four-hour time frame is showing that the EURUSD pair is currently trading within a neutral pattern. The pattern is highlighting that a twenty-five pip breakout move is likely once the EURUSD pair picks a directional bias. If the EURUSD pair trades above the 1.1380 level, key technical resistance is found at the 1.1410 and 1.1440 levels. If the EURUSD pair trades below the 1.1347 level, key support is found at the 1.1320 and 1.1290 levels
by OctaFX_Official
EURUSD data drivenThe euro currency continues to trade towards the lower-end of its weekly range against the US dollar as the pair becomes increasingly driven by important US data. Bulls may need weak US data to break the 1.1400 level and take a shot at the 1.1440 resistance level. Much better than expected United States data over the coming sessions may prompt the EURUSD pair to reverse its post FOMC gains. If the EURUSD pair trades above the 1.1400 level, key technical resistance is found at the 1.1440 and 1.1500 levels. The EURUSD pair is only bearish while trading below the 1.1360 level, key support is found at the 1.1347 and 1.1321 levels.
by OctaFX_Official
ETHUSD $360.00 topEthereum has started to reverse from the $360.00 level after following higher and surging to its highest level in over eighteen months. It maybe to early to call a top in the ETHUSD pair as a bullish pattern with a target of $490.00 is still in progress. Sellers need to move the ETHUSD pair under the $310.00 support level to encourage short-term sellers back into the game. The ETHUSD pair is bullish while trading above the $300.00 level, key resistance is found at the $320.00 and $325.00 levels. If the ETHUSD pair trades below the $300.00 level, key support is found at the $290.00 and $280.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD back to 1.2710The British pound has gradually edged back under the 1.2700 level against the US dollar after bears failed to break the 1.2710 resistance level. The GBPUSD pair is currently neutral until a clear technical break from the 1.2660 to 1.2710 price range occurs. Overall, the GBPUSD pair is likely to be driven by the slew of macroeconomic data being released from the UK and US economies on Friday. The GBPUSD pair is only bullish while trading above the 1.2710 level, key resistance is found at the 1.2810 and 1.2840 levels. If the GBPUSD pair trades below the 1.2660 level, key support is found at the 1.2600 and 1.2550 levels.
by OctaFX_Official