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Octafx

EURUSD 1.1380 key pivotThe euro is under slight downside pressure against the US dollar currency on Monday, with the pair trading towards the lower end of its seven-day trading range. The EURUSD pair is expected to drift lower while trading below the pivotal 1.1380 level, with key support below at 1.1337. The MACD indicator on the four-hour time frame is also showing further intraday losses appear likely. The EURUSD pair is intraday bearish while trading below the 1.1380 level, key support is found at the 1.1337 and 1.1300 levels. If the EURUSD pair trades above the 1.1380 level, key technical resistance is found at the 1.1400 and 1.1420 levels.
by OctaFX_Official
BTCUSD bulls still in controlBitcoin has started the new trading month with a slight bullish bias, as the key $3,700 support level continues to be defended on moves lower. Indicators on the daily time frame are trending higher, although the recent upward momentum is weakening. BTCUSD buyers must now break above the cryptocurrencies former monthly highly in order to keep the short-term bullish momentum intact. The BTCUSD pair remains bullish while trading above the $3,700 level, key technical resistance is now found at the $4,000 and $4,300 levels. If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,550 and $3,330 levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD testing key supportThe British pound is starting to correct lower against the US dollar on Friday after the US economy posted much stronger than expected economic data. The GBPUSD pair is testing towards the pivotal 1.3230 level, with key support below at the 1.3200 level. If bulls can defend the 1.3230 level, traders should expect a strong rebound back towards the 1.3300 resistance area. The GBPUSD pair retains a bullish bias while trading above the 1.3230 level, key technical resistance is found at the 1.3300 and 1.3350 levels If the GBPUSD pair trades below the 1.3230 level, sellers may test towards the 1.3200 and 1.3160 support levels.
by OctaFX_Official
USDJPY strongly bullishThe US dollar has broken sharply higher against the Japanese yen currency after the greenback received a strong bid following better than expected US economic data. The USDJPY pair is trading above its 200-day moving average and holds a strong bullish bias while above the 111.12 level. The next bullish target above the 111.40 level is found at the 112.20 resistance level. The USDJPY pair is bullish while trading above the 111.12 level, key technical resistance is found at the 112.20 and 112.80 levels. If the USDJPY pair trades below the 111.12 level, sellers may test towards the 110.80 and 110.40 support levels.
by OctaFX_Official
GBPUSD intraday bullish above 1.3230The British pound continues to trade above the 1.3300 resistance level against the US dollar as the breakout move higher in the pair gathers pace. The GBPUSD pair has a strong bullish momentum while trading above the 1.3300 level, although the overall intraday bias remains in place while price trades above the 1.3230 level. The 1.3400 level currently offers the strongest form of technical resistance above the current monthly high, at 1.3349. The GBPUSD pair has a bullish bias while trading above the 1.3230 level, key technical resistance is found at the 1.3349 and 1.3400 levels If the GBPUSD pair trades below the 1.3230 level, sellers may test towards the 1.3200 and 1.3160 support levels.
by OctaFX_Official
EURUSD testing key supportThe euro currency is coming under slight selling pressure against the US dollar on Thursday after buyers repeatedly failed to break through the 1.1400 resistance level. The EURUSD is currently trading within a rising price channel on the four-hour time frame, with price now testing key trendline support. The overall intraday bias surrounding the EURUSD is bearish while trading below 1.1370 support level. The EURUSD pair is only bullish while trading above the 1.1370 level, key resistance is found at the 1.1400 and 1.1450 levels. If the EURUSD pair trades below the 1.1370 level, key support is found at the 1.1350 and 1.1337 levels.
by OctaFX_Official
ETHUSD bullish bias above $130.00Ethereum is attempting to recover higher on Thursday as buyers continue to defend the major weekly technical support area. The second largest cryptocurrency by market capitalization retains its short-term bullish bias while trading above the important $130.00 level. Overall, a sustained break from the $130.00 to $147.00 price range will need to occur before the next strong directional move can happen. The ETHUSD pair is bullish while trading above the $130.00 level, key resistance is found at the $147.00 and $160.00 levels. If the ETHUSD pair trades below the $130.00 level, key support is found at the $122.00 and $106.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD intraday bullish above 1.3200The British pound has risen to its highest trading level against the US dollar since September 2018, after British Prime Minister Theresa May confirmed that Article 50 could be extended for a limited period. The GBPUSD pair has pulled back slightly from the 1.3300 resistance area, although the strong intraday bullish will remain intact while price trades above the 1.3200 level. Traders should that an inverted head and shoulders pattern has formed, with the neckline of the pattern located just above the 1.3300 level. The GBPUSD pair has a strongly bullish bias while trading above the 1.3200 level, key technical resistance is found at the 1.3300 and 1.3350 levels If the GBPUSD pair trades below the 1.3200 level, sellers may test towards the 1.3160 and 1.3095 support levels.
by OctaFX_Official
EURUSD bullish above 1.1375The euro has risen to a fresh monthly high against the US dollar after the US dollar came under pressure following Federal Reserve Chair Jerome Powell’s testimony on Capitol Hill. The EURUSD pair has broken back inside the rising price channel on the four-hour time frame, with the 1.1400 level now key resistance. Traders should expect further intraday upside in the EURUSD pair while price continues to trade above the 1.1375 level. The EURUSD pair is strongly bullish while trading above the 1.1375 level, key resistance is found at the 1.1400 and 1.1450 levels. If the EURUSD pair trades below the 1.1375 level, key support is found at the 1.1360 and 1.1337 levels.
by OctaFX_Official
BTCUSD bearish below $3,700Bitcoin is coming under increasing selling pressure after the number one cryptocurrency was strongly rejected from the $4,000 level. Technical indicators on the four-hour time are still turning lower, which may signal further losses ahead for the BTCUSD pair. Traders should note that the BTCUSD pair will only turn short-term bearish if price trades below the $3,700 level. The BTCUSD pair is bullish while trading above the $3,700 level, key technical resistance is now found at the $4,000 and $4,300 levels. If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,550 and $3,330 levels.
BITFINEX:BTCUSD
by OctaFX_Official
USDJPY bulls back in controlThe US dollar has moved to a new monthly trading high against the Japanese yen currency, with the pair finally breaking from its ten-day trading range. The USDJPY pair has a strong intraday bullish bias while trading above the 111.12 resistance level, with buyers now likely to target the 111.40 level. Traders are likely to remain slightly cautious, as Federal Reserve Chair Powell is set to testify on Capitol Hill later today. The USDJPY pair is strongly bullish while trading above the 111.12 level, key technical resistance is found at the 111.40 and 112.15 levels. If the USDJPY pair trades below the 110.80 level, sellers may test towards the 110.60 and 110.40 support levels.
by OctaFX_Official
GBPUSD bullish bias above 1.3095The British pound has risen sharply high against the US dollar as speculation continues to grow that the UK will delay its departure from the European Union. The GBPUSD pair now has a strong intraday bullish bias while trading above the 1.3095 level and may soon target the 1.3200 resistance area. Traders should note the four-hour time frame shows the potential formation of a bullish inverted head and shoulders pattern. The GBPUSD pair has a strongly bullish bias while trading above the 1.3095 level, key technical resistance is found at the 1.3160 and 1.3200 levels If the GBPUSD pair trades below the 1.3095 level, sellers may test towards the 1.3050 and 1.3000 support levels.
by OctaFX_Official
LTCUSD $39.00 key supportLitecoin has started to make a technical correction lower after the cryptocurrency reached the overall bullish objective of the inverted head and shoulders pattern. The broader cryptocurrency market is also under slight selling pressure on Tuesday, following Monday’s heavy sell-off. Overall, bulls must defend the $39.50 level to retain the pairs short-term bullish trading bias. The LTCUSD pair is bullish while trading above the $39.50 level, key technical resistance is now found at the $46.00 and $51.00 levels. If the LTCUSD pair trades below the $39.50 level, key support is found at the $36.00 and $33.00 levels.
BITFINEX:LTCUSD
by OctaFX_Official
BTCUSD testing major supportBitcoin is falling towards major weekly support at the start of the new trading week after buyers failed to rally the BTCUSD pair above the psychological $4,100 resistance level. If sellers break the $3,700 support level, the BTCUSD pair is likely to come under further selling pressure towards the $3,550 level. If bulls can defend the $3,700 technical level, a strong rebound back towards the $4,000 level appears the most likely scenario. The BTCUSD pair is only bullish while trading above the $3,700 level, key technical resistance is found at the $4,000 and $4,100 levels. If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,550 and $3,330 levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD intraday bullish above 1.305The British pound is attempting to move higher against the US dollar after sellers failed to hold price below the key 1.3000 support level. Buyers have now moved price above the pivotal 1.3050 level, with the 1.3095 level the key intraday resistance area to watch. If bulls fail to rally the GBPUSD pair above the 1.3095 level, traders should expect a decline back towards the 1.3000 level. The GBPUSD pair is bullish while trading above the 1.3050 level, key technical resistance is found at the 1.3095 and 1.3160 levels If the GBPUSD pair trades below the 1.3050 level, sellers may test towards the 1.3000 and 1.2960 support levels.
by OctaFX_Official
EURUSD losing bearish momentumThe euro is starting to lose bearish momentum against the US dollar as sellers continue to struggle to break the key 1.1300 support level. The EURUSD is trading back above the pivotal 1.1337 level, with bulls attempting to launch another attack at the 1.1370 resistance level. If buyers can force price above the 1.1370 level, the 1.1500 resistance level is the overall weekly bullish target. The EURUSD pair is only bearish while trading below the 1.1300 level, key support is found at the 1.1290 and 1.1250 levels. If the EURUSD pair trades above the 1.1370 level, key resistance is found at the 1.1410 and 1.1500 levels.
by OctaFX_Official
GBPUSD awaiting range breakThe British pound is attempting to move lower against the US dollar on Friday after buyers once again failed to hold price above the key 1.3095 resistance level. A sustained technical break below the 1.3000 support level should encourage strong selling towards the 1.2965 level. If buyers can move price above the 1.3095 level the GBPUSD pair could start to rally towards the 1.3200 level. The GBPUSD pair is only bullish while trading above the 1.3000 level, key technical resistance is found at the 1.3095 and 1.3200 levels If the GBPUSD pair trades below the 1.3000 level, sellers may test towards the 1.2965 and 1.2900 support levels.
by OctaFX_Official
EURUSD watching key pivotThe euro has a neutral intraday bias against the US dollar as buyers and sellers struggle to take control of price-action in the short-term. The 1.1337 level is the key intraday pivot point, with the EURUSD pair now confined to tight range bound trading conditions. Technical indicators on the four-hour time frame are moving lower, especially if sellers can hold price below the pairs pivot point. The EURUSD pair is bearish while trading below the 1.1337 level, key support is found at the 1.1300 and 1.1280 levels. If the EURUSD pair trades above the 1.1337 level, key resistance is found at the 1.1370 and 1.1410 levels.
by OctaFX_Official
ETHUSD awaiting triangle breakEthereum continues to hold a bullish short-term bias on Friday, with the second largest cryptocurrency trading well above the $140.00 level. If the ETHUSD pair can break above the $160.00, the cryptocurrency will perform a major technical breakout above a triangle pattern. If sellers force price back under the $140.00 level, a technical correction back towards the $120.00 level may occur. The ETHUSD pair is bullish while trading above the $120.00 level, key resistance is found at the $145.00 and $160.00 levels. If the ETHUSD pair trades below the $140.00 level, key support is found at the $130.00 and $120.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
BTCUSD bullish breakout loomsBitcoin is starting to consolidate recent gains just below the $4,000 level on Thursday, with the BTCUSD pairs price-action becoming increasingly bullish. If buyers can force price above the $4,400 level, a breakout towards the $5,000 level appears likely. Only a sustained loss of the key $3,700 support level can negate the short-term bullish outlook currently surrounding the number one cryptocurrency. The BTCUSD pair is strongly bullish while trading above the $4,000 level, key technical resistance is found at the $4,400 and $5,000 levels. If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,450 and $3,330 levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD trendline resistance holdsThe euro currency is under slight downward pressure against the US dollar on Thursday after the pair was strongly rejected from key trendline resistance, at 1.1370. The EURUSD pair currently has a neutral intraday bias and will only turn bearish once trading below the 1.1337 level. Traders now await the release of key PMI Manufacturing and Services data for the eurozone economy. If the EURUSD pair falls below the 1.1337 level, sellers may test towards the 1.1300 and 1.1280 support levels. A breakout above the 1.1370 level may provoke technical buying towards the 1.1410 and 1.1450 resistance levels.
by OctaFX_Official
GBPUSD weakness expected below 1.3000The British pound is starting to lose bullish momentum against the US dollar after the pair failed to hold price above the important 1.3095 resistance level. If sellers move price below the 1.3000 support level, a deeper intraday technical correction towards the 1.2965 level may occur. Technical indicators on the key four-hour time frame are also starting to appear overstretched. The GBPUSD pair is only bullish while trading above the 1.3000 level, key technical resistance is found at the 1.3095 and 1.3200 levels. If the GBPUSD pair trades below the 1.3000 level, sellers may test towards the 1.2965 and 1.2900 support levels.
by OctaFX_Official
LTCUSD first bullish target reachedLitecoin is under is trading close to the best level of the year so far, after the cryptocurrency reached the first bullish objective of the bullish inverted head and shoulders pattern. The LTCUSD pair may advance towards the $55.00 region if buyers can break above the $49.50 resistance area. Alternatively, technically failure from current levels may prompt a deeper retracement back towards the $36.00 support level. The LTCUSD pair is bullish while trading above the $39.50 level, key technical resistance is found at the $47.00 and $49.50 levels. If the LTCUSD pair trades below the $39.50 level, key support is found at the $36.00 and $33.00 levels.
BITFINEX:LTCUSD
by OctaFX_Official