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GBPUSD 1.2660 bearish pivotThe British pound has reversed sharply from the 1.2780 level against the US dollar as UK political woes once again force the pair lower. A sustained break of the pivotal 1.2660 level could send the GBPUSD pair back towards its former weekly trading low. Bulls need to move the pair back above the 1.2710 resistance level in order to encourage intraday bulls back into the market. The GBPUSD pair is bullish while trading above the 1.2710 level, key resistance is found at the 1.2730 and 1.2780 levels. If the GBPUSD pair trades below the 1.2710 level, key support is found at the 1.2660 and 1.2520 levels.
by OctaFX_Official
EURUSD 1.1360 keyThe euro has slipped back from the 1.1400 level against the US dollar following Federal Reserve Chair Jerome Powells speech on Tuesday. The EURUSD pair can weaken towards the 1.1260 level if sellers start to hold price below the important 1.1360 level. Bulls need to move price past the 1.1400 level to encourage technical buying towards at least the 1.1440 resistance level. If the EURUSD pair trades above the 1.1360 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 1.1321 and 1.1260 levels.
by OctaFX_Official
ETHUSD may have peakedEthereum is starting to appear uncomfortable above the $300.00 level, with the second largest cryptocurrency unable to make new higher highs on the daily chart. The ETHUSD pair could be vulnerable to heavy technical selling if Bitcoin starts to reverse from the $11,000 level. Overall, unless bulls start to breach the $320.00, the ETHUSD pair shows real signs that the monthly high may have already been made. 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
EURUSD 1.1400 breakout zoneThe euro continues to trade just above the 1.1400 level against the US dollar, with the pair still remaining well bid into early Tuesday trade. The 1.1400 level remains the gateway to the 1.1440 level, with topside resistance for the EURUSD found at the 1.1500 level. Sellers need to hold price below the 1.1360 level to negate the current bullish daily bias towards the EURUSD pair. 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
GBPUSD bullish above 1.2730The British pound is attempting to gain upside momentum against the greenback after slipping back towards the 1.2700 level in early week trade. GBPUSD bulls need to sustain price above the 1.2730 level and stage a breakout above the 1.2770 resistance level. Losses below the 1.2710 level may provoke a much deeper technical correction towards the 1.2660 support level. The GBPUSD pair is only bullish while trading above the 1.2730 level, key resistance is found at the 1.2770 and 1.2840 levels. If the GBPUSD pair trades below the 1.2730 level, key support is found at the 1.2710 and 1.2660 levels.
by OctaFX_Official
EURUSD bullish weekly closeThe euro has opened the new trading week strongly against the US dollar after the pair closed the week above its 200-day moving average. Bulls could target a major breakout above the 1.1400 level, with the 1.1440 and 1.1500 levels the major resistance areas to watch. If sellers move price back under the 1.1347 level the EURUSD pair could see a strong retrace back under the 1.1300 level. The EURUSD pair is only bearish while trading below the 1.1347 level, key support is found at the 1.1321 and 1.1290 levels. If the EURUSD pair trades above the 1.1347 level, key technical resistance is found at the 1.1400 and 1.1440 levels.
by OctaFX_Official
BTCUSD extremely overboughtBitcoin has surged above the $10,000 level for the first time since March 2018 as bulls broke through the five-figure mark with ease. Short and medium-term technical readings are extremely overbought at present, leaving the BTCUSD pair open to large profit taking. Failure to make new higher highs may attract a move back towards the $10,000 level. The BTCUSD pair is bullish while trading above the $10,600 level, key resistance is located at the $11,000 and $11,400 levels. If the BTCUSD pair trades under the $10,600 level, sellers may test towards the $10,000 and $9,800 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
GBPUSD watch for a breakoutThe British pound is gaining ground against the greenback Monday after the US dollar index suffered heavy losses on Friday. A sustained move above the 1.2770 resistance level could spark a breakout in the GBPUSD pair towards at least the 1.2840 level. If sellers fail around this key area a decline and technical test back towards the 1.2710 level should be expected. The GBPUSD pair is only bullish while trading above the 1.2730 level, key resistance is found at the 1.2770 and 1.2840 levels. If the GBPUSD pair trades below the 1.2730 level, key support is found at the 1.2710 and 1.2660 levels.
by OctaFX_Official
GBPUSD overdue for a correctionThe British pound is starting to appear overstretched around the 1.2700 level against the US dollar as a number of key downside risks for sterling still remain place. A deeper bearish correction may see the GBPUSD pair test back towards the 1.2600 level. GBPUSD bulls need to maintain price above the 1.2730 resistance level to inspire further buying towards the 1.2770 level. The GBPUSD pair is only bullish while trading above the 1.2700 level, key resistance is found at the 1.2730 and 1.2755 levels. If the GBPUSD pair trades below the 1.2700 level, key support is found at the 1.2645 and 1.2600 levels.
by OctaFX_Official
EURUSD PMI data up nextThe euro is struggling with the 1.1300 level against the US dollar ahead of the release of key PMI data from the eurozone economy this morning. Weaker than expected PMI data may push the EURUSD pair back towards the 1.1260 to 1.1245 support zones. Another key mover for the EURUSD will be the US PMI data later today, with a worse than expected number likely to be US dollar negative. The EURUSD pair is only bearish while trading below the 1.1260 level, key support remains at the 1.1245 and 1.1225 levels. If the EURUSD pair trades above the 1.1260 level, key technical resistance remains at the 1.1310 and 1.1360 levels.
by OctaFX_Official
ETHUSD $285.00 breakout resistanceEthereum has moved within touching distance of the $280.00 resistance level as the ETHUSD pair finally starts to follow Bitcoin higher. If bulls can breach the $285.00 level a bullish breakout towards the $320.00 level appears the most likely scenario. Traders should track the action on the BTCUSD pair as it is starting to have a strong correlation with other top digital assets. If the ETHUSD pair trades above the $285.00 level, key resistance is found at the $300.00 and $320.00 levels. If the ETHUSD pair fails from the $280.00 level, key support is found at the $255.00 and $235.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
BTCUSD bulls holding supportBitcoin bulls continue to hold price above major technical support, despite a loss of upside momentum above the critical $9,000 level. The one-hour time frame is showing that the BTCUSD pair is still being held above the neckline of a bullish pattern. The $8,930 level now appears key in the short-term, while the $9,477 resistance level is major upside resistance before the $10,000 level. The BTCUSD pair is only bullish while trading above the $8,930 level, key resistance is located at the $9,477 and $10,000 levels. If the BTCUSD pair trades under the $8,930 level, sellers may test towards the $8,800 and $8,400 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD 1.1290 major resistanceThe euro is moving higher against the greenback after the Federal Reserve paved the way for a July rate cut during yesterday’s monetary policy statement. The EURUSD pair has an intraday bullish bias while trading above the 1.1260 level, although upside momentum is fairly weak. Overall, EURUSD bulls need to break the 1.1290 level or the pair could return back to the 1.1225 level. The EURUSD pair is only bearish while trading below the 1.1260 level, key technical support is found at the 1.1245 and 1.1225 levels. If the EURUSD pair trades above the 1.1260 level, buyers may test the 1.1290 and 1.1321 levels.
by OctaFX_Official
GBPUSD 1.2700 now keyThe British pound has staged a powerful upside rally against the US dollar, ahead of the Bank of England rate decision later today. The GBPUSD pair has a strong bullish bias while trading above the 1.2645 level and may soon test the 1.2700 level. Weakness below the 1.2645 level may trigger a sell-off in the GBPUSD, especially if the Bank of England offers dovish commentary today. The GBPUSD pair is only bearish while trading below the 1.2645 level, key support is found at the 1.2630 and 1.2600 levels. If the GBPUSD pair trades above the 1.2645 level, key resistance is found at the 1.2700 and 1.2745 levels.
by OctaFX_Official
GBPUSD awaiting inflation dataThe British pound remains under pressure towards the key 1.2560 level against the US dollar, ahead of the release of UK inflation data this morning. The 1.2560 level is a key pivot for the GBPUSD pair, with further intraday weakness expected if bulls fail to secure price above this area. An upcoming test of the 1.2500 level is still expected due to broad-based strength in the US dollar index. The GBPUSD pair is heavily bearish while trading below the 1.2560 level, key support is found at the 1.2500 and 1.2460 levels. If the GBPUSD pair trades above the 1.2560 level, key resistance is found at the 1.2600 and 1.2655 levels.
by OctaFX_Official
EURUSD under 1.1150 next big levelThe euro has struggled to move above the 1.1200 resistance level against the US dollar as ECB President Mario Draghi’s bearish comments continue to weigh on the single currency. The 1.1150 support level is the next support level to watch while the EURUSD pair continues to trade below the 1.1200 level. EURUSD traders now await the FOMC rate decision later today, which could spark huge volatility and move the pair into a new trading range. The EURUSD pair is heavily bearish while trading below the 1.1200 level, key technical support is found at the 1.1170 and 1.1150 levels. If the EURUSD pair trades above the 1.1200 level, buyers may test the 1.1245 and 1.1260 levels.
by OctaFX_Official
ETHUSD struggles with May highEthereum is coming under slight downside pressure after the second largest cryptocurrency by market capitalization failed to break the May trading high. The bearish pattern on the four-hour time frame has yet to be invalidated, leaving the ETHUSD pair vulnerable to more losses. Overall the next strong directional move is unlikely to occur until the $230.00 to $280.00 price range is broken. The ETHUSD pair is bullish while trading above the $260.00 level, key resistance is found at the $280.00 and $320.00 levels. If the ETHUSD pair trades below the $260.00 level, key support is found at the $230.00 and $205.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
LTCUSD watching bearish patternLitecoin has failed to follow Bitcoin higher and rally to a fresh 2019 trading high, with the popular crypto so far finding resistance from the just below the $145.00 level. The one-hour time frame is showing that bulls need to make a new high as a bearish head and shoulders pattern is in play. Overall, the LTCUSD pair is still extremely bullish while trading above the important $125.00 level. The LTCUSD pair is only bullish while trading above the $125.00 level, key resistance is found at the $145.00 and $160.00 levels. If the LTCUSD pair trades below the $125.00 level, key support is found at the $120.00 and $100.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
EURUSD looking at 1.1260The euro is on the rise against the US dollar in early Tuesday trade as bulls once again failed to breach the key swing-low, at 1.1200. The 1.1260 level remains the next upside target for EURUSD bulls, with the 1.1245 level the interim resistance barrier they need to clear. The four-hour time frame is also showing a large bullish pattern, with the 1.1500 level the overall upside target. The EURUSD pair is only bearish while trading below the 1.1218 level, key technical support is found at the 1.1207 and 1.1200 levels. If the EURUSD pair trades above the 1.1218 level, buyers may test the 1.1245 and 1.1260 levels.
by OctaFX_Official
GBPUSD stops triggeredThe British pound has slumped to its weakest level against the greenback since January 3rd this year, after bears moved the pair below the key 1.2560 level. Continued weakness below the 1.2500 level is increasingly likely as UK political uncertainty is driving the pair lower. GBPUSD bears are likely to aim for the December low, while bulls may look for a better risk-reward entry if this key low is unable to be broken. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2500 and 1.2460 levels. If the GBPUSD pair trades above the 1.2600 level, key resistance is found at the 1.2630 and 1.2655 levels.
by OctaFX_Official
GBPUSD 1.2560 level criticalThe British pound has opened the new trading week under pressure against the US dollar after a heavily bearish weekly close under the 1.2600 support level. If GBPUSD sellers break the 1.2560 support level the pair could slide toward the 1.2480 region. Any intraday bounces higher are expected to find meet with strong technical selling interest from the 1.2630 to 1.2655 levels. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2560 and 1.2480 levels. The GBPUSD pair is only bullish while trading above the 1.2660 level, key resistance is located at the 1.2680 and 1.2710 levels. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2560 and 1.2480 levels.
by OctaFX_Official
EURUSD 1.1200 bulls lurkingThe euro has started the new trading week on the back foot against the US dollar after the pair suffered its worst one-day drubbing since March this year. Bulls now need to move the EURUSD away from the 1.1200 level and start to close the pair above the 1.1260 level ahead of the FOMC meeting. Weakness below the key 1.1200 level may prompt another technical test of the 1.1170 to 1.1155 zone. The EURUSD pair is only bearish while trading below the 1.1260 level, key technical support is found at the 1.1200 and 1.1170 levels. If the EURUSD pair trades above the 1.1260 level, buyers may test the 1.1280 and 1.1310 levels.
by OctaFX_Official
BTCUSD $10,000 expectedBitcoin bulls have returned in force after breaking through the $9,000 level and moving the number one crypto to a new 2019 trading high. The BTCUSD pair offers limited resistance above the $9,300 level, leaving the $10,000 level a likely near-term target. Only a sustained bearish move below the $8,400 support level will put the recent up move in the BTCUSD into question. The BTCUSD pair is only bullish while trading above the $8,400 level, key resistance is located at the $9,300 and $10,00 levels. If the BTCUSD pair trades under the $8,400 level, sellers may test towards the $8,200 and $8,000 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official