CHFJPY Head&Sholders pattern formationIf the structure formation breaks successfully go for short more than 200 pip price will fall, however target is open
Octafx
AUDUSD Price is at an Important support levelthe price of AUDUSD is at an important support level if the price takes a turn form here to expect a good long
GBPNZD 400 PIPS OPPORTUNITYThe price is currently at strong resistance, also a triple top formation so the next wave is expected to be a downside
EURUSD Buy Opportunity Price is currently sitting on the trend line which was to bottom 5 months back so expecting a push up from here
ETHUSD $170.00 breakout neededEthereum is struggling to recover above the $150.00 resistance level, following last weeks sudden drop towards the $135.00 support zone. ETHUSD bulls need to rally the cryptocurrency above the $170.00 level to change the short-term bearish outlook. Ethereum continues to have a high correlation to Bitcoin and could trade sideways until BTCUSD bulls return.
• If the ETHUSD pair trades above the $150.00 level, key resistance is found at the $158.00 and $170.00 levels.
• If the ETHUSD pair trades below the $150.00 level, key support is found at the $143.00 and $135.00 levels.
EURUSD 1.1110 major resistanceThe euro has started to firm test towards the 1.1100 level against the greenback as expected, following another round of weakness in the US dollar index. Buyers now need to rally the EURUSD pair above the 1.1110 resistance level to provoke a major technical breakout. Overall, buying any dips lower in the EURUSD pair appears to be the best option while the US dollar remains weak.
• The EURUSD pair is only bullish while trading above the 1.1075 level, key resistance is found at the 1.1110 and 1.1180 levels.
• The EURUSD pair is only bearish while trading below the 1.1075 level, key support is found at the 1.1060 and 1.1045 levels.
USDJPY 108.20 major supportThe US dollar remains under downside pressure against the Japanese yen, following the release of more weak data from the US economy. From a technical perspective, the USDJPY pair is extremely weak while trading below the 108.60 support level. Going forward, a break under the 108.20 level exposes the USDJPY pair to heavy technical selling towards the 107.50 level and possibly lower.
• The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.15 and 109.40 levels.
• The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.
BTCUSD pattern unfoldingBitcoin is starting to push lower in early Wednesday trade after the buyers failed to gain traction above the $7,300 level earlier this week. A bearish head and shoulders pattern remains valid on the lower time frames while price trades below the $7,800 level. Overall, traders may use any pullbacks in price as a chance to short the BTCUSD pair, with the $6,600 level the near-term goal.
• The BTCUSD pair is only bullish while trading above the $7,300 level, key resistance is located at the $7,450 and $7,850 levels.
• If the BTCUSD pair trades under the $7,300 level, sellers may test towards the $7,000 and $6,600 support levels.
GBPUSD 1.3000 achievedThe British pound has moved to fresh six-week trading high against the US dollar, with the pair moving above the psychological 1.3000 level. Buyers need to hold price above the 1.3000 level to maintain the bullish medium-term range breakout. The GBPUSD pair could easily advance towards the 1.3100 level at this stage, with the 1.3200 level the ultimate upside objective.
• The GBPUSD pair is bullish while trading above the 1.2960 level, further upside towards the 1.3100 and 1.3150 levels appears possible.
• the GBPUSD pair trades below the 1.2960 level, key support is found at the 1.2940 and 1.2900 levels.
USDJPY bearish under 108.90The US dollar has fallen back under the 108.90 level against the Japanese yen currency, making the pair technically bearish over the short-term. Continued weakness under this key area could provoke further losses towards the 108.20 level. The USDJPY pair could capitulate to technical selling if the 108.20 support level is broken.
• The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.40 and 109.65 levels.
• The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.
GBPUSD 1.3000 insightThe British pound is firming above the 1.2940 level against the US dollar as the greenback comes under a fresh round of selling pressure. A sustained break above the 1.2960 resistance level exposes a potential technical test of the psychological 1.3000 level. Once above the 1.3000 level, the GBPUSD pair could quickly trade higher, with the 1.3200 resistance level the medium-term objective.
• The GBPUSD pair is bullish while trading above the 1.2900 level, key resistance is found at the 1.2960 and 1.3000 levels.
• If the GBPUSD pair trades below the 1.2900 level, key support is found at the 1.2880 and 1.2850 levels.
LTCUSD bear case growsLitecoin has failed to receive buying interest above the $50.00 resistance level, placing the emphasis on further downside. With the broader cryptocurrency market remaining under pressure, traders should be aware that a quick drop towards the $36.00 level could occur. Overall, only a sustained move above the $57.00 resistance level can change the short-term prospects for the LTCUSD pair.
• If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $57.00 and $66.00 levels.
• If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.
EURUSD 1.1075 keyThe euro is rising against the US dollar, following comments from US President Donald Trump surrounding more interest rate cuts from the Federal Reserve and weak US data. The EURUSD pair needs to hold price above the 1.1045 level to encourage fresh technical buying interest. A daily price close above the 1.1075 resistance level should be considered bullish for the EURUSD pair this week.
• The EURUSD pair is only bullish while trading above the 1.1045 level, key resistance is found at the 1.1100 and 1.1130 levels.
• The EURUSD pair is only bearish while trading below the 1.1045 level, key support is found at the 1.0980 and 1.0945 levels.
NZD/USD price expected to move higherThe price has broken the previous resistance and expected to grow more
GBPUSD further gains expectedThe British pound continues to firm above the 1.2900 level against the US dollar, following a bullish weekly and monthly price close. Technical analysis shows that GBPUSD buyers have the upper hand while price closes above the 1.2890 level on a daily basis. Risk-averse traders may await a move above the 1.3000 level in order to confirm a range break and a potential push towards the 1.3200 resistance level.
• The GBPUSD pair is bullish while trading above the 1.2890 level, key resistance is found at the 1.2960 and 1.3000 levels.
• If the GBPUSD pair trades below the 1.2890 level, key support is found at the 1.2850 and 1.2820 levels.
EURUSD 1.0980 bounceThe euro is trading back above the 1.1000 level against the US dollar after the pair bounced fairly sharply from the 1.0980 level on Friday. A daily price above the 1.1070 level is now needed to confirm that a major technical bottom is in place for the EURUSD. Looking at the downside potential, a daily price close under the 1.0990 level should encourage bears to target the 1.0945 level.
• The EURUSD pair is only bullish while trading above the 1.1020 level, key resistance is found at the 1.1045 and 1.1070 levels.
• The EURUSD pair is only bearish while trading below the 1.1020 level, key support is found at the 1.0980 and 1.0945 levels.
BTCUSD $7,300 pivotalBitcoin is under slight downside pressure in early week trade after being technically rejected just before the $8,000 resistance level. The BTCUSD pair was rejected from the top of a large falling wedge pattern on the daily time frame, currently located around the $7,800 level. Going, buyers need to maintain daily price closes above the $7,300 level to encourage another potential wedge breakout.
• The BTCUSD pair is only bullish while trading above the $7,300 level, key resistance is located at the $7,800 and $8,200 levels.
• If the BTCUSD pair trades under the $7,300 level, sellers may test towards the $6,850 and $6,600 support levels.
LTCUSD still weakLitecoin remains vulnerable to further downside on the cryptocurrency market as buyers struggle to reclaim the $50.00 resistance level. The LTCUSD pair still has the potential to fall towards the $36.00 level before medium-term buyers start to move. A sustained rally above the $50.00 level could see the LTCUSD pair testing back towards the technically important $57.00 resistance level.
• If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $57.00 and $66.00 levels.
• If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.
EURUSD unable to rallyThe euro has once again been rejected from the 1.1020 resistance level against the US dollar, as short-term buyers fail to take back control of the pair. A bullish double-bottom is still in place, although the EURUSD pair could break the November if weakness under the 1.1000 level persists. Going forward, a sustained breakout from the 1.0990 to 1.1020 trading range is now needed.
• The EURUSD pair is only bullish while trading above the 1.1020 level, key resistance is found at the 1.1045 and 1.1070 levels.
• The EURUSD pair is only bearish while trading below the 1.1020 level, key support is found at the 1.0990 and 1.0945 levels.
USDJPY 110.00 possibleThe US dollar continues to target towards 110.00 level against the Japanese yen as the greenback remains well-supported across the board. The recent high around the 109.60 level provided a signal that the USDJPY intends to push higher over the shor-term. The 110.90 level could be the overall upside objective for medium-term bulls if the 110.00 resistance level is overcome.
• The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.60 and 110.0 levels.
• The USDJPY pair is only bearish while trading below the 109.30 level, key technical support is found at the 109.15 and 109.00 levels.
EURUSD still at riskThe euro currency remains at risk of further losses against the US dollar, with the pair continuing to make bearish daily lower price lows. Going forward, a sustained loss of the 1.0990 support level would be extremely bearish for the EURUSD pair this week. At present, a daily price close above the 1.1070 level is needed to confirm that a new short-term bullish trend will begin.
• The EURUSD pair is only bullish while trading above the 1.1045 level, key resistance is found at the 1.1070 and 1.1100 levels.
• The EURUSD pair is only bearish while trading below the 1.1045 level, key support is found at the 1.0990 and 1.0945 levels.
GBPUSD 1.2900 still keyThe British pound has staged a strong rebound from the 1.2830 level against the US dollar after selles failed to break under the current weekly trading low. Going forward, a series of bullish price close is needed above the 1.2900 level is needed to encourage medium-term buying. A new high above the important 1.2960 level would also be extremely bullish for the GBPUSD pair.
• The GBPUSD pair is bullish while trading above the 1.2900 level, key resistance is found at the 1.2960 and 1.3100 levels.
• If the GBPUSD pair trades below the 1.2900 level, key support is found at the 1.2880 and 1.2830 levels.
