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ETHUSD breakout loomsEthereum is preparing for its next strong direction move as the second largest cryptocurrency by market capitalization consolidates around the $245.00 level. The cryptocurrency may target the $330.00 level if can rally the ETHUSD pair above the resistance $280.00 level. Sellers could target the $190.00 support level if the ETHUSD pair falls below the current weekly trading low. The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $280.00 and $330.00 levels. If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $190.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
USDJPY chasing bullish targetThe US dollar has recovered back above 110.00 level against the Japanese yen currency following a brief correction towards the 109.70 support level. USDJPY bulls now appear to be launching a fresh attack towards key breakout resistance, at the 110.60 resistance level. Technical indicators on the four-hour time frame are still pointing higher as short-term bullish momentum continues to grow. The USDJPY pair is bullish while trading above the 109.66 level, key resistance is found at the 110.20 and 110.60 levels. If the USDJPY pair trades below the 110.00 level, key intraday support is found at the 109.66 and 109.00 levels.
by OctaFX_Official
GBPUSD weakness persistsThe British pound has weakened back towards the 1.2700 support level against the US dollar after the pair found strong selling interest from the 1.2756 level on Monday. Technical selling in the GBPUSD pair is likely to accelerate if bears can force price below the 1.2700 level. The 1.2662 level is the major weekly support level to watch below the 1.2700, with the GBPUSD pair below offering only limited technical support below. The GBPUSD pair is heavily bearish while trading below the 1.2700 level, key support is located at the 1.2660 and 1.2600 levels. If the GBPUSD pair trades above the 1.2756 level, key intraday resistance is found at the 1.2772 and 1.2790 levels.
by OctaFX_Official
LTCUSD bullish above $85.00Litecoin is holding above major technical support in early Tuesday trade after the sixth largest cryptocurrency by market capitalization was rejected from just above the $100.00 level. If LTCUSD bulls can hold price above the $85.00 level another test of the $100.00 level seems likely. Overall, the bullish inverted head and shoulders pattern on the four-hour time frame still has an upside target of at least $130.00. The LTCUSD pair is only bullish while trading above the $85.00 level, key resistance is found at the $100.00 and $130.00 levels. If the LTCUSD pair trades below the $85.00 level, key support is found at the $77.00 and $70.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
USDJPY 110.60 major resistanceThe US dollar is trading back above the 110.00 level against the Japanese yen currency following a renewed bid tone surrounding the greenback. If USDJPY bulls can continue to hold price above the 110.00 level we may see another technical attempt towards the resistance 110.60 level. The 109.66 support level now becomes the key weekly pivot point for the USDJPY pair. The USDJPY pair is only bearish while trading below the 109.66 level, key support is found at the 109.00 and 108.40 levels. If the USDJPY pair holds above the 109.66 level, key intraday resistance is found at the 110.00 and 110.60 levels.
by OctaFX_Official
GBPUSD vulnerable below 1.2772The British pound has opened the new trading week on soft footing against the US dollar, with the pair now slipping closer to the 1.2700 level. If the 1.2700 support level is breached, GBPUSD sellers are likely to target towards the important 1.2662 level. Overall, the GBPUSD pair is vulnerable to heavy technical selling while trading below the pivotal 1.2772 resistance level. The GBPUSD pair is heavily bearish while trading below the 1.2772 level, key support is found at the 1.2700 and 1.2662 levels. If the GBPUSD pair trades holds above the 1.2772 level, key intraday resistance is found at the 1.2810 and 1.2830 levels.
by OctaFX_Official
BTCUSD bulls back in controlBitcoin has recovered sharply higher in early Monday trade after the number one cryptocurrency found strong technical support from just below the $6,500 level. If buyers can breach the current yearly trading high the BTCUSD pair could eventually test towards the $10,000 resistance level. The daily time frame is showing that key support from the Ichimoku indicator is located at the $7,100 level. The BTCUSD pair is strongly bullish while trading above the $8,000 level, key resistance is found at the $8,500 and $10,000 levels. If the BTCUSD pair trades under the $8,000 level, sellers may test towards the $7,100 and $6,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
USDJPY rejected from 110.00The US dollar is once turning lower against the Japanese yen currency after the recent rally in the pair found strong resistance from the 110.00 level. If sellers can move price back under the 109.66 level technical selling in the USDJPY pair is likely to increase. Technical indicators on the four-hour time frame have now corrected back to neutral and are ready for the next directional move. The USDJPY pair is only bearish while trading below the 109.66 level, key support is found at the 109.00 and 108.40 levels. If the USDJPY pair holds above the 109.66 level, key intraday resistance is found at the 110.00 and 110.20 levels.
by OctaFX_Official
EURUSD 1.1165 breakdown levelThe euro currency has fallen to a fresh weekly trading low against the US dollar after yet another technical failure above the 1.1200 resistance level. If EURUSD sellers can hold price the 1.1165 level the pair is likely to weaken towards the 1.1130 support level. Buyers will need to move price above the 1.1216 resistance level in order to change the bearish intraday sentiment towards the EURUSD. The EURUSD pair is heavily bearish while below the 1.1165 level, key technical support is found at the 1.1130 and 1.1110 levels. If the EURUSD pair moves above the 1.1190 level, key technical resistance is found at the 1.1216 and 1.1264 levels.
by OctaFX_Official
ETHUSD $245.00 pivotal supportEthereum remains well supported in early Friday trade, with the second largest cryptocurrency by market capitalization trading close to major intraday support. The daily time frame is showing that a large bullish inverted head and shoulders pattern is now present. If ETHUSD bulls can hold price above the $245.00 level the cryptocurrency could continue its recent breakout rally. The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $280.00 and $330.00 levels. If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $210.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
GBPUSD heavily bearish below 1.2866The British pound is under increasing downside pressure against the US dollar in early Thursday trade, with the pair now trading at its weakest since February this year. The GBPUSD pair is heavily bearish while trading below the 1.2866 level and could move to test the 1.2772 level. The four-hour time frame is also showing that a large head and shoulders pattern has formed. The GBPUSD pair is heavily bearish while trading below the 1.2866 level, key support is located at the 1.2810 and 1.2772 levels. If the GBPUSD pair trades above the 1.2866 level, key intraday resistance is found at the 1.2890 and 1.2920 levels.
by OctaFX_Official
EURUSD upside struggle continuesThe euro is struggling to move above the 1.1216 resistance level against the US dollar despite bullish new that the Trump administration will delay its decision on potential EU trade tariffs. A clear range break from the 1.1164 to 1.1265 price levels is now needed before the EURUSD pair picks its next strong directional bias. Due to the upcoming European elections, the euro currency may stay relatively contained until after the event. The EURUSD pair is only bullish while trading above the 1.1264 level, key technical resistance is found at the 1.1290 and 1.1330 levels. If the EURUSD pair moves below the 1.1165 level, key technical support is found at the 1.1130 and 1.1100 levels.
by OctaFX_Official
BTCUSD gains expected to slowBitcoin has started to stabilize around the $8,000 level after the number one cryptocurrency found strong weekly technical resistance from just above the $8,300 level. The strong bullish sentiment surrounding the BTCUSD pair remains in place while price trades above the $7,600 level. If bulls break above the $8,300 level the $8,500 level offers strong resistance prior to the $8,800 level. The BTCUSD pair is bullish while trading above the $7,600 level, key intraday resistance is found at the $8,300 and $8,500 levels. If the BTCUSD pair trades under the $7,600 level, sellers may test towards the $7,300 and $7,000 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
LTCUSD faces formidable resistanceLitecoin is once again testing towards the best levels of 2019, with the sixth largest cryptocurrency facing formidable resistance from the $100.00 level. The Ichimoku indicator is showing that the LTCUSD pair is pushing through cloud resistance on the weekly time frame. Sellers need to move the price below the $77.00 level to shift the current bullish bias surrounding the LTCUSD pair. The LTCUSD pair is only bullish while trading above the $77.00 level, key resistance is found at the $100.00 and $130.00 levels. If the LTCUSD pair trades below the $77.00 level, key support is found at the $65.00 and $58.00 levels.
COINBASE:LTCUSD
by OctaFX_Official
GBPUSD 1.2890 support now keyThe British pound has erased its strong weekly gains against the US dollar following renewed demand for the greenback amongst investors. The 1.2890 level is the key downside level to watch intraday, with technical selling likely to increase if bears hold price below this key area. Bulls now need to move price above the 1.2950 level to stabilize the GBPUSD pair from further intraday declines. The GBPUSD pair is bearish while trading below the 1.2950 level, key support is located at the 1.2890 and 1.2866 levels. If the GBPUSD pair trades above the 1.2950 level, key intraday resistance is found at the 1.2966 and 1.2990 levels.
by OctaFX_Official
EURUSD bearish below 1.1216The euro is testing towards the 1.1200 level against the US dollar after bulls once again failed to break above the pairs former weekly trading high. The overall sentiment towards the EURUSD pair is intraday bearish while trading below the 1.1216 level. Buyers need to stabilize the EURUSD pair above the 1.1230 resistance level to encourage the next wave of strong buying interest. The EURUSD pair is only bullish while trading above the 1.1216 level, key technical resistance is found at the 1.1230 and 1.1264 levels. If the EURUSD pair moves below the 1.1216 level, key technical support is found at the 1.1190 and 1.1164 levels.
by OctaFX_Official
GBPUSD awaiting key dataThe British pound has started to recover higher against the US dollar ahead of the release of important United Kingdom Wage and Earnings data later this morning. The GBPUSD pair has a bullish intraday bias while trading above the 1.3064 level and could start to target the 1.3100 level. If the GBPUSD pair falls below the 1.2990 level, sellers are likely to target the 1.2966 support level. The GBPUSD pair is intraday bullish while trading above the 1.3064 level, key resistance is located at the 1.3100 and 1.3155 levels. If the GBPUSD pair trades below the 1.2990 level, key intraday support is found at the 1.2966 and 1.2925 levels.
by OctaFX_Official
USDJPY 108.49 next big levelThe US dollar has fallen to a fresh monthly trading low against the Japanese yen currency after the Chinese government announced retaliatory measures to US trade tariffs. The 108.49 level is major weekly support if sellers move the USDJPY pair below the 109.00 support level. The USDJPY pair offers only limited technical support until the 107.90 level if the 108.49 level is breached. The USDJPY pair is heavily bearish while trading below the 109.50, key support is found at the 109.00 and 108.49 levels. If the USDJPY pair trades above the 109.50 level, key intraday resistance is found at the 109.80 and 110.00 levels.
by OctaFX_Official
ETHUSD $230.00 soft targetEthereum has moved to a new 2019 trading high, with the second largest cryptocurrency by market capitalization receiving a boost from the recent breakout rally in Bitcoin. The first bullish target for the ETHUSD pair is the $230.00 level, with the $270.00 level extended weekly resistance. Sellers need to move price below the $185.00 level to shift the strong bullish sentiment towards the ETHUSD pair. The ETHUSD pair is bullish while trading above the $185.00 level, key resistance is found at the $230.00 and $270.00 levels. If the ETHUSD pair trades below the $185.00 level, key support is found at the $175.00 and $168.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
USDJPY still weakThe US dollar has opened the trading week under pressure against the Japanese yen as Asian equity markets suffer early week losses. The USDJPY pair is likely to come under additional downside selling pressure if the 109.40 level is broken with conviction. If the USDJPY pair advances above the 110.00 level, buyers could force price back towards the 110.30 technical level. The USDJPY pair is bearish while trading below the 110.00, key intraday support is found at the 109.40 and 108.80 levels. If the USDJPY pair trades above the 110.00 level, key intraday resistance is found at the 110.30 and 110.60 levels.
by OctaFX_Official
EURUSD buyers now in controlThe euro has opened the new trading week with a bullish bias against the US dollar after the pair closed the former trading week well above the 1.1200 level. If EURUSD buyers can move price above the 1.1264 level the 1.1290 level is then key breakout technical resistance. If sellers can move price under the 1.1216 level the EURUSD pair may start to come under pressure. The EURUSD pair is only bullish while trading above the 1.1216 level, key technical resistance is found at the 1.1264 and 1.1290 levels. If the EURUSD pair moves below the 1.1216 level, key technical support remains at the 1.1190 and 1.1164 levels.
by OctaFX_Official
BTCUSD $8,000 major resistanceBitcoin has broken through the $7,000 resistance level, with the number one cryptocurrency by market capitalization gaining nearly twenty percent since it moved above the $6,000 level. The $7,500 level offers strong technical resistance, although the $8,000 level is seen as formidable weekly resistance. The strong move higher has now created a large inverted head and shoulders on the daily time frame. The BTCUSD pair is bullish while trading above the $6,500 level, key intraday resistance is found at the $7,500 and $8,000 levels. If the BTCUSD pair trades under the $6,500 level, sellers may test towards the $6,300 and $6,000 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
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USDJPY 109.80 now keyThe US dollar continues to tumble lower against the Japanese yen on Wednesday as global equity markets come under a fresh round of selling pressure. The USDJPY pair is moving closer to the important 109.80 now that the 110.00 level support level has been broken. The bullish pattern on the four-hour time frame has now been invalidated by the recent drop in the USDJPY pair. The USDJPY pair is heavily bearish while trading below the 110.25, key intraday support is found at the 109.80 and 109.50 levels. If the USDJPY pair trades above the 110.25 level, key intraday resistance is found at the 110.80 and 111.10 levels.
by OctaFX_Official