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Octafx

EURUSD still under downward pressureThe euro remains under downside pressure against the US dollar on Friday, with pair trading close to the worst levels of the week so far. The EURUSD pair has so far found interim support from the 1.1320 level, a further break below the current weekly low should prompt a test of the 1.1300 support level. Technical indicators remained depressed on the four-hour time frame and show few signs of a bullish reversal at this stage. The EURUSD pair is bearish while trading below the 1.1360 level, key technical support is found at the 1.1320 and 1.1300 levels. If the EURUSD pair moves trades the 1.1360 level, buyers may test towards the 1.1390 and 1.1410 resistance levels.
by OctaFX_Official
ETHUSD under attack below $100.00Ethereum continues to trade close to the worst levels of 2019 on Friday, with the ETHUSD pair at risks of further heavy losses below the $100.00 level. The ETHUSD pair may decline toward the $92.00 support region is sellers can sustain price below the $100.00 level. The ADX indicator, which measures the strength of trading trends, shows that moves lower in the ETHUSD pair are weak. The ETHUSD pair is bearish while trading below the $100.00 level, key support is found at the $92.00 and $78.00 levels. If ETHUSD pair trades above the $110.00 level, key resistance is found at the $120.00 and $140.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD further bearish below 1.2900The British pound remains weak against the US dollar on Thursday, with traders now awaiting the Bank of England rate decision and the outcome of British PM Theresa May’s Brexit negotiations with EU leaders. If the GBPUSD pair falls below the 1.2900 level, further losses towards the 1.2830 level appear likely. Buyers need to move price above the 1.2990 level to negate the bearish sentiment surrounding the pair. The GBPUSD pair is heavily bearish while trading below the 1.2990 level, key technical support is found at the 1.2900 and 1.2830 levels If the GBPUSD pair trades above the 1.2990 level, key resistance is found at the 1.3020 and 1.3055 levels.
by OctaFX_Official
EURUSD heavily bearish below 1.1300The euro currency continues to drift lower against the US dollar on Thursday, with the pair edging closer to important trendline support. A sustained break below the 1.1360 level exposes the pair to further losses towards the 1.1300 level, which is a major technical level for the EURUSD. Buyers ultimately need to move price back above the 1.1410 level to negate short-term bearish pressures. The EURUSD pair is bearish while trading below the 1.1360 level, key technical support is found at the 1.1330 and 1.1300 levels. If the EURUSD pair holds above the 1.1360 level, buyers may test towards the 1.1390 and 1.1410 resistance levels.
by OctaFX_Official
BTCUSD slight bearish biasBitcoin continues to trade in an increasingly narrow price range, with the number one cryptocurrency seemingly trapped inside a descending price channel. Given the general bearish bias towards the cryptocurrency market, an eventual test of the BTCUSD pairs 2018 trading low seems the most likely scenario. Technical indicators remain flat on the four-hour time frame as traders await a clear breakout from the descending price channel. The BTCUSD pair is only bearish while trading below the $3,300 level, key technical support remains at the $3,200 and $3,100 levels. If the BTCUSD pair trades above the $3,460 level, key resistance is found at the $3,660 and $3,980 levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD 1.1360 now key supportThe euro is under increasing downside pressure against the US dollar on Wednesday, as the greenback comes back into favour with investors. The EURUSD pair has broken below the 1.1410 level, with the 1.1360 level now the most important technical region to watch below the 1.1400 level. Indicators on the four-hour time frame continue to turn lower signalling further losses ahead. The EURUSD pair is intraday bearish while trading below the 1.1410 level, key technical support is found at the 1.1390 and 1.1360 levels. If the EURUSD pair trades above the 1.1410 level, buyers may test towards the 1.1430 and 1.1460 resistance levels.
by OctaFX_Official
GBPUSD under increasing pressureThe British pound is coming under increasing selling pressure against the US dollar after data on Tuesday showed that the United Kingdom economy is slowing due to Brexit. The GBPUSD pair has broken below the 1.3000 level, important intraday support is found at the 1.2890 level. It is worth noting that technical indicators are starting to approach oversold conditions, a technical correction back towards the 1.3000 could occur. The GBPUSD pair is bearish while trading below the 1.3000 level, key technical support is found at the 1.2930 and 1.2890 levels. If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3030 and 1.3090 levels.
by OctaFX_Official
LTCUSD fails at range topLitecoin is starting to trade lower on Wednesday after buyers once again failed to break above the technically important $33.00 level. Technical indicators are starting to turn lower, which may signal that the LTCUSD pair is ready to the bottom end of its trading range. A large head and shoulders pattern with a $10.00 downside projection is still valid on the four-hour time frame. The LTCUSD pair is only bullish while trading above the $33.00 level, key resistance is found at the $36.00 and $40.00 levels. If the LTCUSD pair trades below the $28.00, sellers may test towards the $25.00 and $18.00 support levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD intraday bearish biasThe British pound remains under selling pressure against the US dollar on Tuesday, with the pair now trading beneath key trendline support. Further intraday losses are now expected, with the psychological 1.3000 level the main technical support region to watch. The MACD indicator on the four-hour time frame has broken lower, signaling that bearish selling pressure is increasing. The GBPUSD pair is bearish while trading below the 1.3055 level, key technical support is found at the 1.3000 and 1.2970 levels If the GBPUSD pair trades above the 1.3055 level, key resistance is found at the 1.3095 and 1.3130 levels.
by OctaFX_Official
EURUSD indicators correcting lowerThe euro is under moderate selling pressure against the US dollar on Tuesday after buyers failed to hold price above the important 1.1460 resistance level. The overall bullish bias in the EURUSD pair is likely to remain intact while price continues to trade above the 1.1410 level. Technical indicators appear to be correcting lower, which may delay the next wave of intraday buying interest. The EURUSD pair is bullish while trading above the 1.1410 level, key technical resistance is found at the 1.1460 and 1.1500 levels. If the EURUSD pair trades below the 1.1430 level, sellers may test towards the 1.1410 and 1.1390 support levels.
by OctaFX_Official
ETHUSD awaiting triangle breakEthereum remains under downside pressure in the near-term, with the third largest cryptocurrency by market capitalization trading within a triangle pattern. A bearish downside break is likely to encourage selling towards the $92.00 level, while a break to the upside may provoke a test of the $110.00 level. The Relative Strenght Index on the four-hour time frame is showing that the ETHUSD pair has yet to reach oversold trading conditions. The ETHUSD pair is bearish while trading below the $110.00 level, key support is found at the $92.00 and $78.00 levels. If ETHUSD pair trades above the $110.00 level, key resistance is found at the $115.00 and $125.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD awaiting Brexit newsThe British pound is under moderate selling pressure against the US dollar on Monday, as sterling traders scale back positions ahead of this week Bank of England interest rate decision. A sustained break from the 1.3040 to 1.3095 price range is needed before the next strong short-term directional move can occur. Traders now await the release of the UK Construction PMI this morning, with expectations for the release tilted to the downside. The GBPUSD pair is bearish while trading below the 1.3095 level, key technical support is found at the 1.3044 and 1.3000 levels If the GBPUSD pair trades above the 1.3095 level, key resistance is found at the 1.3130 and 1.3170 levels.
by OctaFX_Official
EURUSD slight bullish biasThe euro currency is attempting to stabilize around the pivotal 1.1460 level against the US dollar, after the better than expected Nonfarm Payrolls job report boosted the greenback on Friday. Dip-buying interest in the EURUSD pair is likely to remain strong until the key 1.1410 support level is clearly broken. Overall, buyers will likely attempt a series of bullish daily price closes above the important 1.1500 resistance level. The EURUSD pair is bullish while trading above the 1.1460 level, key technical resistance is found at the 1.1500 and 1.1550 levels. If the EURUSD pair trades below the 1.1430 level, sellers may test towards the 1.1410 and 1.1360 support levels.
by OctaFX_Official
BTCUSD awaiting channel breakBitcoin is still trading within a descending price channel on Monday, as the number one cryptocurrency continues move in an increasingly narrow range. Sellers need to break the $3,300 level to accelerate downside pressure, while buyers need to hold price above the $3,500 level to break from the channel. If the BTCUSD pair performs an upside break, the $3,960 level provides a strong short-term bullish target. The BTCUSD pair is only bearish while trading below the $3,300 level, key technical support remains at the $3,150 and $3,000 levels. If the BTCUSD pair trades above the $3,300 level, key resistance is found at the $3,500 and $3,660 levels.
BITFINEX:BTCUSD
by OctaFX_Official
LTCUSD awaiting technical breakoutLitecoin is consolidating towards the middle of its weekly trading on Friday, as the popular digital currency remains resilient despite the broader cryptocurrency coming back under selling pressure. A clear technical breakout from the $28.00 to $33.00 price range is now needed for a new short-term trend to emerge. A bearish head and shoulders pattern is still visible on the lower time frames, with a downside projection of over $10.00. The LTCUSD pair is bearish while trading below the $28.00 level, key support is found at the $25.50 and $20.00 levels. If the LTCUSD pair trades above the $33.00, buyers may test the $36.00 and $40.00 support levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD bulls need to defend 1.3095The British pound continues to drift lower against the US dollar on Friday as traders scale back positions ahead of the release of the US Nonfarm payrolls and ISM manufacturing report. GBPUSD buyers need to defend the pivotal 1.3095 area, or they risk extended intraday losses towards the 1.3000 area. It is also worth noting that sterling performed a bullish monthly price close above the 1.3100 level. The GBPUSD pair remain bullish while trading above the 1.3095 level, key technical resistance is found at the 1.3130 and 1.3170 levels If the GBPUSD pair trades below the 1.3090 level, key support is found at the 1.3070 and 1.3055 levels.
by OctaFX_Official
EURUSD 1.1430 now key technical supportThe euro currency is starting to give back early week gains against the greenback after buyers failed to sustain price above the 1.1500 level on Thursday. The EURUSD pair is likely to weaken towards the 1.1410 level in the near-term if price falls below the important 1.1430 support level. Buyers need to move the EURUSD pair back above the 1.1460 resistance area to regain bullish momentum. The EURUSD pair is bearish while trading below the 1.1430 level, key technical support is found at the 1.1410 and 1.1370 levels. If the EURUSD pair trades above the 1.1460 level, buyers may test towards the 1.1500 and 1.1550 resistance levels.
by OctaFX_Official
USDJPY below neckline supportThe US dollar is under selling pressure against the Japanese yen currency on Thursday after sellers moved price below the important 109.14 level. The USDJPY pair has now broken below the neckline of a bearish head and shoulders pattern with a one-hundred point downside projection. The 108.10 support level is a key technical area to watch if the decline in the pair continues. The USDJPY pair is bearish while trading below the 109.14 level, key technical support is found at the 108.45 and 107.80 levels. If the USDJPY pair moves above the 109.14 level, buyers may test towards the 109.45 and 110.00 resistance levels.
by OctaFX_Official
EURUSD bullish above 1.1460 levelThe euro is testing towards the 1.1500 level against the US dollar after the FOMC kept interest rates on hold and struck a more dovish tone than market participants had been expecting. The EURUSD pair is strongly bullish while trading above the 1.1460 level, a further move above the 1.1500 level should provoke technical buying. Traders now await the release of key GDP and Unemployment data from the eurozone economy this morning. The EURUSD pair is bullish while trading above the 1.1410 level, key technical resistance remains at the 1.1460 and 1.1500 levels. If the EURUSD pair trades below the 1.1410 level, sellers may test towards the 1.1360 and 1.1330 support levels.
by OctaFX_Official
BTCUSD trading in descending channelBitcoin is attempting to recover early week losses, after the number one cryptocurrency by market capitalization failed to break below the important $3,300 support level. Price is now trading in descending price channel, with the $3,500 level topside resistance. Short-term range-bound trading action is expected in the BTCUSD pair until a clear breakout from the channel occurs. The BTCUSD pair is only bearish while trading below the $3,300 level, key technical support is found at the $3,150 and $3,000 levels. If the BTCUSD pair trades above the $3,500 level, key resistance is found at the $3,680 and $3,960 levels.
BITFINEX:BTCUSD
by OctaFX_Official
ETHUSD testing psychological $100.00Ethereum is testing the psychologically important $100.00 level on Wednesday after sellers forced price below key trendline support on historically low volumes. The broader market sentiment remains negative, while the RSI indicator is showing that the ETHUSD pair is now oversold. A sustained loss of the $100.00 level will likely encourage technical selling toward the $92.00 level. The ETHUSD pair is bearish while trading below the $110.00 level, key support is found at the 100.00 and $92.00 levels. If ETHUSD pair trades above the $110.00 level, key resistance is found at the $113.00 and $124.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
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EURUSD 1.1410 support holdingThe euro is holding key support against the US dollar ahead of today’s key interest rate decision and monetary policy statement from the FOMC. The 1.1410 level is a pivotal area buyers will need to defend for further advancement towards the 1.1500 region. A sustained loss of the 1.1410 level will likely prompt seller s to test towards the technically important 1.1360 support level. The EURUSD pair is bullish while trading above the 1.1410 level, key technical resistance remains at the 1.1460 and 1.1500 levels. If the EURUSD pair trades below the 1.1410 level, sellers may test towards the 1.1360 and 1.1330 support levels.
by OctaFX_Official
GBPUSD bearish below 1.3090 levelThe British pound is under downside pressure against the US dollar after EU officials failed to support British PM Theresa May’s new deal Brexit plan, which won the support of UK lawmakers on Tuesday. The GBPUSD pair is bearish while trading below the pivotal 1.3090 level and could potentially fall towards the 1.3000 level. The US Federal Open Market Committee policy meeting later today is next major risk event for GBPUSD pair. The GBPUSD pair is bearish while trading below the 1.3090 level, key technical support is found at the 1.300 and 1.2955 levels. If the GBPUSD pair trades above the 1.3090 level, key resistance is found at the 1.3130 and 1.3200 levels.
by OctaFX_Official