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USDJPY testing weekly pivotThe US dollar has fallen back towards its weekly pivot point against the Japanese yen currency after buyers failed to move price above the 112.00 level. The move lower is currently seen as a technical correction, as bulls have been able to maintain the USDJPY pair above the pivotal 111.68 level. The inverted head and shoulders pattern on the four-hour time frame remains valid while price trades above the 110.30 level. The USDJPY pair is intraday bullish while trading above the 111.68, key intraday resistance is found at the 112.00 and 113.20 levels. If the USDJPY pair trades below the 111.68 level, key intraday support is found at the 111.30 and 110.90 levels.
by OctaFX_Official
Weekly forecast for EURUSD USDCHF USDCAD GBPUSD USDJPYBOC decide During the upcoming trading week, central bank action takes center stage, with interest rate decisions from the Bank of Japan, Central Bank of Turkey and the Bank of Japan. The Bank of Canada rate decision is likely to capture the spotlight, as market participants wait to see if the BOC will follow other central banks across the globe and adopt a more dovish stance towards interest rates. The United States economy is also heavily in focus this week as we see Housing, Manufacturing, GDP and Trade data releases from the world’s largest economy. We also see important quarterly Inflation data and projections being released from the Australian economy. Monday 22nd April, USD US Manufacturing PMI The United States PMI Composite reports on Manufacturing activity inside the American economy and represents economic indicators derived from monthly surveys of private sector companies. The Purchase Managers Index data provides advance insight into the private sector economy by tracking variables such as output, new orders, employment and prices across key sectors. ∙ The EURUSD pair is only bearish while trading below the 1.1290 level, key support is found at the 1.1175 and 1.1110 levels. ∙ If the EURUSD pair moves above the 1.1290 level, buyers will likely test towards the 1.1330 and 1.1360 resistance levels. Tuesday 23rd April, USD US Housing Price Index The United States Housing Price Index is released by the Office of Federal Reserve Housing Enterprise Oversight and is a broad measure of the movement of single-family house prices. The Housing Price Index measures average price changes in repeat sales or refinancings on the same properties in three hundred and sixty-three metropolises. It is an important indicator as the housing market is considered as a sensitive factor to the US economy. ∙ The USDCHF pair is bullish while trading above the 1.0100 level, key resistance is found at the 1.0220 and 1.0350 levels. ∙ If the USDCHF pair moves below the 1.0100 level, sellers may test the 1.0050 and 1.0000 support levels. Wednesday 24th April, CAD Bank of Canada Rate Decision The Bank of Canada Interest Rate Decision is a decision of the governing council members on where to set the nations interest rate. Most market participants believe that the Bank of Canada will leave interest rates on hold this week after a series of hikes last year. After the actual rate decision, the central bank releases a policy statement that contains the BOC’s collective perspective on the economy also ideas about future monetary policy. ∙ The USDCAD pair is only bullish while trading above the 1.3240 level, further upside towards 1.3450 and 1.3580 levels would then seem possible. ∙ If the USDCAD pair trades below the 1.3300 level, sellers are likely to test the 1.32605and 1.3220 support levels. Thursday 25th April, USD US Durable Goods Orders US Durable Goods Orders is a government report and is released by the US Census Bureau which measures consumer spending on long-term purchases, products that are expected to last more than three years. Durable goods are generally sensitive to monthly volatility as US consumers may delay purchases of durable items such as cars and televisions and choose to only spend money on necessities in times of economic hardship. ∙ The GBPUSD pair is bearish while trading below the 1.3100 level, key support is found at the 1.2985 and 1.2880 levels. ∙ If the GBPUSD pair moves above the 1.3100 level, buyers will likely test towards the 1.3155 and 1.3200 resistance levels. Friday 26th April, USD US GDP Annualized United States GDP Annualized is released by the US Bureau of Economic Analysis and is based on quarterly economic data. US Gross Domestic Products is the market value of all final goods and services from a nation, usually calculated on an annual basis. Because most of the report components are known in advance, the United States GDP reports significance and ability to move markets has decreased. ∙ The USDJPY pair is bullish while trading above the 111.60 level, further upside towards the 112.60 and 113.20 resistance levels seems possible. ∙ If the USDjpy pair trades below the 111.60 level, sellers are likely to test towards the 111.30 and 110.90 support levels.
by OctaFX_Official
EURUSD + GBPUSD EURUSD 1.1216 major support The euro currency is attempting to correct higher against the US dollar in early week trading, amidst quiet market conditions. Technical indicators on the lower time frames have now corrected from oversold conditions, with EURUSD the pair still struggling to break past the 1.1250 resistance level. Sellers need to breach the 1.1216 support level to further encourage selling towards critical weekly support, at 1.1175. The EURUSD pair is intraday bearish while trading below the 1.1250 level, key technical support is found at the 1.1216 and 1.1175 levels. If the EURUSD pair trades above 1.1250 level, key intraday resistance is found at the 1.1280 and 1.1300 levels. GBPUSD bears targeting 1.2940 The British pound currency has opened the new trading week under pressure against the US dollar following a bearish weekly price close below the 1.2985 level. The 1.2940 level is the next downside target for sellers, with the 1.2880 level the overall downside objective. Only a sustained move above the 1.3030 level can negate intraday selling pressures surrounding the GBPUSD pair. The GBPUSD pair is heavily bearish while trading below the 1.2985 level, key support is found at the 1.2940 and 1.2880 levels. If the GBPUSD pair trades above 1.2985 level, key intraday resistance is found at the 1.3000 and 1.3030 levels.
by OctaFX_Official
ETHUSD bearish pattern loomsEthereum is starting to erase Friday’s solid gains as the second largest cryptocurrency comes under early week selling pressure. A bearish head and shoulders pattern is looming over the four-hour time frame, with bulls needing to move price above the $185.00 level to invalidate the pattern. Key intraday technical support for the ETHUSD pair is found at the $154.00 level. If the ETHUSD pair trade below the $160.00 level, key support is located at the $154.00 and $140.00 levels. If ETHUSD bulls defend the $160.00 level, key resistance is found at the $175.00 and $185.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
LTCUSD triangle pattern now keyLitecoin is attempting to recover above the $80.00 level on Friday as the entire cryptocurrency market remains well supported. The four-hour time frame is showing a descending triangle pattern that will decide the next directional move for the LTCUSD pair. A bullish breakout will take the LTCUSD towards the $120.00 level, while a bearish breakout may take the LTCUSD pair towards the $65.00 level. The LTCUSD pair is only bullish while trading above the $80.00 level, key resistance is found at the $100.00 and $120.00 levels. If the LTCUSD pair trades below the $80.00 levels, key support is found at the $65.00 and $58.00 levels.
BITFINEX:LTCUSD
by OctaFX_Official
EURUSD intraday bearish below 1.1250The euro currency continues to weaken against the US dollar on Friday following yesterday’s much weaker than expected eurozone manufacturing data. The EURUSD pair is intraday bearish while trading below the 1.1250 level, with critical support located at the 1.1175 level. Technical indicators on the daily time frame are also showing that selling pressures are increasing. The EURUSD pair is intraday bearish while trading below the 1.1250 level, key technical support is found at the 1.1216 and 1.1175 levels. If the EURUSD pair trades above 1.1250 level, key intraday resistance is found at the 1.1270 and 1.1290 levels.
by OctaFX_Official
GBPUSD heavily bearish below 1.2985The British pound has fallen to its weakest trading level against the US dollar so far this month as the greenback surges higher across the board. The GBPUSD pair is heavily bearish while trading below the 1.2985 level, while the 1.3030 level former support turned key intraday resistance. The downside target of the large head and shoulders pattern on the one-hour time frame extends below the 1.2900 level. The GBPUSD pair is heavily bearish while trading below the 1.2985 level, key support is found at the 1.2940 and 1.2855 levels. If the GBPUSD pair trades above 1.2985 level, key intraday resistance is found at the 1.3030 and 1.3060 levels.
by OctaFX_Official
BTCUSD holds supportBitcoin is starting to move higher after the number one cryptocurrency bounced from key weekly support from the $5,200 level. BTCUSD bulls now need to move price above the $5,452 level to negate the head and shoulders pattern on the four-hour time frame. The Ichimoku indicator on the four-hour time frame is showing that the BTCUSD pair will start to fall back inside the Ichimoku cloud below the $5,200 level. The BTCUSD pair is only bullish while trading above the $5,200 level, key intraday resistance is found at the $5,300 and $5,452 levels. If the BTCUSD pair trades under the $5,200 level, sellers may test towards the $4,889 and $4,700 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD awaiting UK dataThe British pound is trading close to the worst levels of the week against the US dollar as traders await the release of Retail Sales data from the United Kingdom economy. The GBPUSD pair remains technically weak and will decline sharply if the 1.3030 support level is clearly broken. Bulls need to move price above the 1.3080 level to change the intraday sentiment surrounding the GBPUSD pair. The GBPUSD pair is only bullish while trading above the 1.3080 level, key intraday resistance remains at the 1.3100 and 1.3126 levels. If the GBPUSD pair trades under the 1.3030 level, key intraday support is found at the 1.2985 and 1.2940 levels.
by OctaFX_Official
EURUSD 1.1290 still in focusThe euro is consolidating around the 1.1290 level against the US dollar as the pair remains trapped within its tightest weekly trading range of 2019 so far. The Ichimoku indicator is showing that buyers need to close price above the 1.1315 level to accelerate technical buying interest. Sellers need multiple four-hour time frame closes below the 1.1290 level to accelerate EURUSD selling. The EURUSD pair is only bullish while trading above the 1.1290 level, key technical resistance is found at the 1.1315 and 1.1330 levels. If the EURUSD pair trades below 1.1290 level, key intraday support is found at the 1.1250 and 1.1216 support levels.
by OctaFX_Official
LTCUSD $75.00 major supportLitecoin is struggling to advance above the $80.00 on Tuesday, as the fifth largest cryptocurrency fails to attract fresh buying interest. The Ichimoku indicator on the daily time frame is currently showing that the $75.00 level is acting as major weekly support. If sellers manage to move the LTCUSD pair under the $75.00 level, a further decline towards the $65.00 level seems likely. The LTCUSD pair is only bullish while trading above the $75.00 level, key resistance is found at the $100.00 and $120.00 levels. If the LTCUSD pair trades below the $75.00 levels, key support is found at the $65.00 and $58.00 levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD awaiting UK dataThe British pound is consolidating below the 1.3100 level against the US dollar as traders await the release of key jobs and earnings data from the Uk economy. Better than expected economic data could lift the GBPUSD pair towards the 1.3125 level, with the 1.3200 level extended resistance. Worse than expected data could provoke a decline towards the 1.3055 level, with the 1.2980 extended support. The GBPUSD pair is only bullish while trading above the 1.3100 level, key intraday resistance remains at the 1.3125 and 1.3200 levels. If the GBPUSD pair trades under the 1.3100 level, key intraday support is found at the 1.3055 and 1.2980 levels.
by OctaFX_Official
EURUSD struggling with resistanceThe euro continues to trade around the 1.1300 resistance level against the US dollar in early Tuesday trade as buyers struggle to break through strong technical resistance. The Ichimoku cloud on the daily time frame is currently offering strong resistance extending to the 1.1370 level. The Ichimoku indicator on the daily time is showing that the 1.1260 level is key support below the 1.1290 level. The EURUSD pair is bullish while trading above the 1.1290 level, key technical resistance is found at the 1.1345 and 1.1370 levels. If the EURUSD pair trades below 1.1290 level, key intraday support is found at the 1.1260 and 1.1230 support levels.
by OctaFX_Official
United Kingdom macroeconomic data releases under the spotlightINFLATION AND RATES During the upcoming trading week the UK economy comes under the spotlight, as the United Kingdom economy releases a raft of high-impacting macroeconomic data releases. With Brexit delayed until October 31st, traders and investors will once again start to focus on the underline fundamentals behind the UK economy. Global inflation data is also heavily in focus this week as we see the release of inflation data from the Swiss, Indian, New Zealand, eurozone, United Kingdom, Canadian and Japanese economies. We also see the release of Chinese GDP and Retail Sales figures, the Reserve Bank of Australia Meeting Minutes and monthly Employment and Unemployment data coming from the Australian economy. Monday 15th April, CHF Swiss Producer Price Index Producer and Import Prices is released by the Swiss Federal Statistical Office and represents a leading indicator which tracks inflation in producer and import prices in Switzerland. The figure represents changes in the combined producer and import price index, calculated from changes in producer prices and import prices, giving appropriate weight to the proportion of domestic and imported goods. • The USDCHF pair is only bullish while trading above the 0.9980 level, key resistance is found at the 1.0100 and 1.0150 levels. • If the USDCHF pair moves below the 0.9980 level, sellers will likely test towards the 0.9945 and 0.9910 support levels. Tuesday 16th April, AUD RBA Meeting Minutes The Reserve Bank of Australia Monetary Policy Meeting Minutes are published two weeks after the RBA interest rate decision. The RBA Meeting Minutes give a full account of the policy discussion, including factors that influenced policy makers decision and differences of view amongst RBA members. • The AUDUSD pair is bullish while trading below the 0.7150 level, key technical resistance is found at the 0.7220 and 0.7245 levels. • If the AUDUSD pair trades below the 0.7150 level, sellers will likely test towards the 0.7080 and 0.7000 levels. Wednesday 17th April, CNY Chinese GDP Chinese Gross Domestic Product is released by the National Bureau of Statistics of China and measures the national income and output for a given country's economy. Gross Domestic Product is equal to the total expenditures for all final goods and services produced within China in a stipulated period of time. It is the primary indicator of the economy's health and takes on significance as the overall Chinese economy continues to experience an economic slowdown. • The USDJPY pair is bullish while trading above the 111.65 level, further gains towards 112.30 and 113.10 levels remain likely. • If the USDJPY pair trades below the 111.65 level, sellers may test towards the 111.30 and 110.90 support levels. Thursday 18th April, GBP UK Retail Sales United Kingdom Retail Sales data is released by the National Statistics and measures the change in the total value of inflation-adjusted sales at the retail level over a stated time period. This figure represents an indicator of consumer spending inside the United Kingdom economy. Higher retail sales volume generally shows stronger consumer demand, higher retail output, and economic growth in the United Kingdom economy. • If the GBPUSD pair trades above the 1.3100 level, further gains towards 1.3180 and 1.3260 levels seems likely. • If the GBPUSD pair moves below the 1.3100 level, sellers may test towards the 1.2980 and 1.2840 support levels. Friday 19th April, JPY Japanese National CPI The Japanese National Consumer Price Index is released by the Statistics Bureau, measures the change in the price of goods and services from the perspective of the consumer. The CPI is a key indicator that measures inflation and changes in purchasing trends, therefore CPI figures are closely watched by the Bank of Japan. A rise in the Consumer Prices Index may determine whether the Bank of Japan increases interest rates in order to manage inflation and slow economic growth. • The AUDJPY pair is only bearish while trading below the 78.90 level, further losses towards the 78.20 and 77.50 levels remains possible. • If the AUDJPY pair trades above the 78.90 level, buyers are likely to test towards the 80.50 and 81.30 resistance levels.
by OctaFX_Official
Data Makroekonomi Inggris Diterbitkan di bawah SorotanINFLASI DAN SUKU BUNGA Selama minggu perdagangan berikutnya, perekonomian Inggris berada di bawah sorotan begitu perekonomian Inggris menerbitkan sejumlah besar data makroekonomi yang berdampak besar. Dengan Brexit yang ditunda hingga tanggal 31 Oktober, para trader dan investor akan sekali lagi memulai fokus mereka terhadap fundamental yang digarisbawahi di balik perekonomian Inggris. Data inflasi global juga menjadi titik berat pada minggu ini karena kita akan menyaksikan penerbitan data dari perekonomian Swiss, India, Selandia Baru, Zona Eropa, Inggris, Kanada, dan Jepang. Kita juga akan melihat penerbitan angka PDB China dan Penjualan Ritel, Risalah Rapat Reserve Bank of Australia dan Data Ketenagakerjaan dan Pengangguran bulanan, yang datang dari perekonomian Australia. Senin, 15 April, CHF Indeks Harga Produsen Swiss Harga Produksi dan Impor diterbitkan oleh Swiss Federal Statistic Office dan merepresentasikan indikator utama, yang melacak jejak inflasi dalam harga produksi dan impor di Swiss. Angka-angka tersebut mewakili perubahan dalam indeks harga, yang dikombinasikan di antara produksi dan impor, mengalkulasikan perubahan dalam harga produksi dan harga impor, memberikan beban yang sesuai terhadap produk domestic dan impor. Pasangan USDCHF hanya bullish ketika diperdagangkan di atas level 0.9980, kunci ketahanan berada pada level 1.0100 dan 1.0150. Jika pasangan USDCHF bergerak di bawah level 0.9980, para penjual kemungkinan akan menjajal level dukungan 0.9945 dan 0.9910. Selasa, 16 April, AUD Risalah Rapat RBA Risalah Rapat Kebijakan Moneter Reserve Bank of Australia diterbitkan dua minggu setelah RBA memutuskan tingkat suku bunga mereka. Risalah Rapat RBA memberikan gambaran penuh atas diskusi kebijakan, termasuk faktor-faktor, yang memengaruhi keputusan para pembuat kebijakan dan perbedaan pandangan di antara para anggota RBA. Pasangan AUDUSD bullish ketika diperdagangkan di bawah level 0.7150, kunci ketahanan teknis berada pada level 0.7220 dan 0.7245. Jika pasangan AUDUSD diperdagangkan di bawah level 0.7150, para penjual kemungkinan akan menjajal level 0.7080 dan 0.7000. Rabu, 17 April, CNY PDB China Produk Domestik Bruto China diterbitkan oleh National Bureau of Statistic of China dan mengukur pendapatan dan pengeluaran nasional dalam perekonomian negara. Produk Domestik Bruto setara dengan biaya yang dikeluarkan untuk seluruh produk akhir dan layanan, yang diproduksi di dalam China dalam periode waktu yang ditentukan. Ini merupakan indikator utama untuk kesehatan suatu perekonomian dan menjadi hal yang signifikan karena keseluruhan perekonomian China terus mengalami pelambatan. Pasangan USDJPY bullish ketika diperdagangkan di atas level 111.65, perolehan lebih jauh ke level 112.30 dan 113.10 kemungkinan akan terjadi. Jika pasangan USDJPY diperdagangkan di bawah level 111.65, para penjual kemungkinan akan menjajal level dukungan 111.30 dan 110.90. Kamis, 18 April, GBP Penjualan Ritel Inggris Data Penjualan Ritel Inggris diterbitkan oleh National Statistics dan mengukur perubahan dalam nilai total penjualan, yang sudah disesuaikan dengan inflasi pada tingkatan ritel sepanjang periode waktu yang ditetapkan. Angka-angka ini merepresentasikan sebuah indikator biaya yang dikeluarkan oleh para konsumen dalam perekonomian Inggris. Volume penjualan ritel yang lebih tinggi umumnya menunjukkan permintaan konsumen yang menguat, hasil ritel yang lebih tinggi, dan pertumbuhan ekonomi dalam perekonomian Inggris. Jika pasangan GBPUSD diperdagangkan di atas level 1.3100, perolehan lebih jauh ke level 1.3180 dan 1.3260 kemungkinan akan terjadi. Jika pasangan GBPUSD bergerak di bawah level 1.3100, para penjual kemungkinan akan menjajal level dukungan 1.2980 dan 1.2840. Jumat, 19 April, JPY CPI Nasional Jepang Indeks Harga Konsumen (CPI) Nasional Jepang diterbitkan oleh Statistics Bureau dan mengukur perubahan dalam harga barang dan jasa dari sudut pandang konsumen. CPI merupakan indikator kunci, yang mengukur inflasi dan perubahan dalam tren pembelian. Oleh sebab itulah, angka-angka CPI terus dipantau oleh Bank of Japan. Sebuah peningkatan dalam Indeks Harga Konsumen mampu menentukan apakah Bank of Japan akan meningkatkan suku bunga mereka demi mengendalikan inflasi dan memperlambat pertumbuhan ekonomi atau tidak. Pasangan AUDJPY hanya bearish ketika diperdagangkan di bawah level 78.90, kerugian lebih jauh ke level 78.20 dan 77.50 kemungkinan akan terjadi. Jika pasangan AUDJPY diperdagangkan di atas level 78.90, para pembeli kemungkinan akan menjajal level ketahanan 80.50 dan 81.30.
by OctaFX_Official
USDJPY 113.20The US dollar continues to enjoy strong buying interest against the Japanese currency after the pair closed the former trading week above its key 200-day moving average. The USDJPY pair has a strong bullish bias while trading above the 111.80 level, with the 113.20 level the strongest weekly resistance area. The four-hour time is also showing that a bullish inverted head and shoulders pattern has formed. The USDJPY pair is bullish while trading above the 111.80, key intraday resistance is found at the 112.30 and 113.20 levels. If the USDJPY pair trades below the 111.80 level, key intraday support is found at the 111.60 and 111.30 levels.
by OctaFX_Official
EURUSD 1.1360 major resistanceThe euro is trading close to the 1.1300 level against the US dollar after finding strong technical resistance from the 1.1325 level last Friday. The bullish inverted head and shoulders on the lower time frames has reached its upside target, with the 1.1360 level now major weekly resistance. Looking at the downside, if sellers move price below the 1.1250 support level the intraday sentiment towards the EURUSD pair will turn bearish. The EURUSD pair is strongly bullish while trading above the 1.1290 level, key technical resistance is found at the 1.1325 and 1.1360 levels. If the EURUSD pair trades below 1.1290 level, key intraday support is found at the 1.1250 and 1.1216 support levels.
by OctaFX_Official
BTCUSD $4,920 major supportBitcoin has opened the new trading week with a bullish tone, as BTCUSD buyers attempt to recover the losses that occurred towards the end of last week. The Ichimoku indicator is currently showing that major weekly support is located at the $4,920 level, while critical support is located at the $4,500 level. Key weekly resistance for the BTCUSD pair is currently found at the $5,454 and $6,200 levels. The BTCUSD pair is bullish while trading above the $4,920 level, key intraday resistance is found at the $5,454 and $6,200 levels. If the BTCUSD pair trades under the $4,920 level, sellers may test towards the $4,700 and $4,500 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
USDJPY bulls returnThe US dollar has made a strong upside recovery from the 111.00 level against the Japanese yen currency as investor demand for the greenback returns. The USDJPY pair has a strong intraday bullish bias while trading above the 111.60 resistance level. Technical indicators on the four-hour time frame suggest that the USDJPY pair can trade higher over the short-term. If the USDJPY pair trades above the 111.60 level, buyers may test towards the 112.00 and 112.45 levels. If the USDJPY pair trades below the 111.60, key intraday support is found at the 111.30 and 110.90 levels.
by OctaFX_Official
EURUSD testing breakout resistanceThe euro currency has recovered higher against the US dollar in early Friday trading as buyers move price back towards breakout resistance. The EURUSD pair has a bullish intraday outlook while trading above the 1.1250 level, although the 1.1290 level remains critical weekly resistance. If buyers lift the EURUSD pair above the 1.1290 level further short-term buying towards the 1.1330 level appears possible. The EURUSD pair is only bullish while trading above the 1.1250 level, key technical resistance is found at the 1.1290 and 1.1330 levels. If the EURUSD pair trades below 1.1230 level, key intraday support is found at the 1.1216 and 1.1170 resistance levels.
by OctaFX_Official
ETHUSD bearish below $160.00Ethereum is under selling pressure on Friday after bulls failed to move the second largest cryptocurrency above the $185.00 resistance level. A bearish double-top pattern has formed on the four-hour time frame, which is adding to intraday technical selling pressure on the ETHUSD pair. The ETHUSD pair could start to slip towards its 200-day moving average if price falls below the $160.00 level. If the ETHUSD pair trade below the $160.00 level, key support is found at the $152.00 and $140.00 levels. If ETHUSD bulls hold price above the $160.00 level, key resistance is found at the $185.00 and $200.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
USDJPY bearish below 110.90The US dollar has fallen to a new monthly trading low against the Japanese yen currency after the FOMC meeting minutes showed that US policymakers remained dovish towards interest rates. The USDJPY briefly traded below the 110.90 support level, with a sustained price close now needed to turn the weekly sentiment towards the pair bearish. Technical indicators on the daily time frame suggest that the USDJPY pair can still trade lower over the medium-term. If the USDJPY pair trades below the 110.90 level, sellers may test towards the 110.65 and 110.40 levels. If the USDJPY pair trades above the 110.90, key intraday resistance is found at the 111.10 and 111.30 levels.
by OctaFX_Official
EURUSD 1.1290 strong resistanceThe euro is trading towards the best levels of the week against the US dollar, despite more bearish commentary from ECB President Mario Draghi during yesterday’s policy meeting. The 1.1290 levels remains strong resistance, with bulls needing to break above this area for further gains toward the 1.1330 level. Sellers need to hold price below the 1.1250 support level to shift the bullish intraday sentiment surrounding the EURUSD pair. The EURUSD pair is only bullish while trading above the 1.1250 level, key technical resistance is found at the 1.1290 and 1.1330 levels. If the EURUSD pair trades below 1.1250 level, key intraday support is found at the 1.1216 and 1.1170 resistance levels.
by OctaFX_Official