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Octafx

LTCUSD more weakness likelyLitecoin continues to trade at multi-month lows, with LTCUSD pair remaining at risk of a deeper decline towards the $36.00 level. Sustained LTCUSD weakness below the $50.00 level remains the trigger for a decline towards at least the $40.00 support area. Overall, medium to longer-term dip-buyers may return once the overall downside objective of $36.00 is reached. • If the LTCUSD pair trades below the $50.00 level, key support is found at the $40.00 and $36.00 levels. • If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $55.00 and $57.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
2
GBPUSD testing supportThe British pound is testing key support around the 1.2840 support level against the US dollar, following bearish news surrounding the upcoming UK election. Sellers need to break the 1.2820 level or the GBPUSD pair will most likely start to rally back towards the 1.2900 level. Overall, daily price closes above the 1.2940 level should be considered a strong sign that bulls intend to test the 1.3100 level. • The GBPUSD pair is bullish while trading above the 1.2940 level, key resistance is found at the 1.3000 and 1.3100 levels. • If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2880 and 1.2820 levels.
by OctaFX_Official
USDJPY trendline watchThe US dollar has moved back towards key trendline resistance against the Japanese yen currency, although price has so far rejected the upside attack. The USDJPY pair is still vulnerable to further downside while trading below the October monthly price high. Overall, Sino-US trade news is dictating the moves in the USDJPY pair, the short-term trend is now neutral. • The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels. • The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 108.20 and 107.90 levels.
by OctaFX_Official
EURUSD 1.1045 keyThe euro currency has moved away from the psychological 1.1000 level against the US dollar, placing the emphasis on the 1.1045 technical region. Going forward, a sustained move above the 1.1060 level would confirm that a second important technical bottom is now in place. The 1.1180 level remains the overall upside objective for the EURUSD pair over the medium-term horizon. • The EURUSD pair is only bullish while trading above the 1.1046 level, key resistance is found at the 1.1060 and 1.1100 levels. • The EURUSD pair is only bearish while trading below the 1.1045 level, key support is found at the 1.1020 and 1.1000 levels.
by OctaFX_Official
ETHUSD $150.00 now keyEthereum remains under heavy downside pressure after breaking under the October monthly trading low, following the broader digital currency market decline. Going forward, continued weakness below the $150.00 level will be bad for ETHUSD trading sentiment. Bulls need to stage a major rally above the $180.00 level to encourage traders to buy ETHUSD again. • If the ETHUSD pair trades above the $150.00 level, key resistance is found at the $180.00 and $198.00 levels. • If the ETHUSD pair trades below the $150.00 level, key support is found at the $143.00 and $125.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
2
GBPUSD on trackThe British pound is on the move against the US dollar, following a bullish reversal back above the 1.2900 resistance level. Going forward, GBPUSD short-term dip-buyers are expected to move in from the technically important 1.2880 support level. Overall, traders have few reasons to be bearish towards the GBPUSD pair over the medium-term while price trades above the 1.2840 level. • If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2880 and 1.2840 levels. • The GBPUSD pair is bullish while trading above the 1.2940 level, key resistance is found at the 1.3000 and 1.3100 levels.
by OctaFX_Official
BTCUSD below $7,000Bitcoin remains vulnerable to further losses on Monday after the cryptocurrency failed to perform a strong rally away from the $7,000 level over the weekend. Going forward, a weekly close below the $6,650 level would be the next strong bearish signal. A daily price close back above the $8,000 level is now needed to confirm that a medium-term price floor has been established. • The BTCUSD pair is only bullish while trading above the $8,000 level, key resistance is located at the $8,250 and $8,550 levels. • If the BTCUSD pair trades under the $7,000 level, sellers may test towards the $6,600 and $6,000 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD awaiting reversalThe euro is under downside pressure against the US dollar on Monday, following an extended pullback towards the 1.1020 support level last Friday. EURUSD bulls need to quickly reverse the pair above the 1.1070 level in order to establish a bullish higher low. Overall, the US dollar index is now trading at a critical juncture and will decide the fate of the EURUSD pair this week. • The EURUSD pair is only bullish while trading above the 1.1070 level, key resistance is found at the 1.1100 and 1.1180 levels. • The EURUSD pair is only bearish while trading below the 1.1070 level, key support is found at the 1.1020 and 1.0980 levels.
by OctaFX_Official
GBPUSD tests extended supportThe British pound is attempting to recover from critical support against the US dollar, following an extended pullback towards the 1.2840 level. The GBPUSD pair has to rally from current trading levels to avoid a major technical test of the 1.2770 support. Overall, a daily price close above the 1.2940 level would confirm that the GBPUSD pair still intends to test towards the 1.3100 level. • If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2840 and 1.2770 levels. • The GBPUSD pair is bullish while trading above the 1.2940 level, key resistance is found at the 1.3000 and 1.3100 levels.
by OctaFX_Official
BTCUSD crash continuesBitcoin has continued its double-digit weekly decline, with the number one cryptocurrency crashing back towards the $7,500 support level. Going forward, a break below the $7,220 level would be extremely bearish for the BTCUSD pair over the medium-term. BTCUSD buyers desperately need to rally the cryptocurrency back above the psychological $8,000 resistance level. • The BTCUSD pair is only bullish while trading above the $8,000 level, key resistance is located at the $8,200 and $8,500 levels. • If the BTCUSD pair trades under the $8,000 level, sellers may test towards the $7,220 and $6,600 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD dip rewardThe euro currency has pulled back from just below the 1.1100 resistance level against the US dollar, creating another buying opportunity for EURUSD bulls. EURUSD dip-buyers may look to buy a technical pullback around the 1.1045 to 1.1030 technical region. Going forward, daily price closes above the 1.1070 level should be considered the next strong buying signal for the EURUSD pair. • The EURUSD pair is only bullish while trading above the 1.1070 level, key resistance is found at the 1.1100 and 1.1130 levels. • The EURUSD pair is only bearish while trading below the 1.1070 level, key support is found at the 1.1045 and 1.1020 levels.
by OctaFX_Official
USDJPY sell ralliesThe US dollar remains vulnerable to further losses against the Japanese yen currency as market sentiment towards Sino-US trade talks is fragile. The USDJPY pair is likely to suffer a strong decline once a confirmed breakout below the 107.90 level occurs. Going forward, selling any rallies towards the 109.00 resistance level appears to be the best short-term trading strategy. • The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels. • The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 107.90 and 107.50 levels.
by OctaFX_Official
EURUSD awaiting push higherThe euro currency remains increasingly well supported against the US dollar on Thursday, with the pair creating bullish higher lows. The EURUSD pair should start to push higher once the 1.1090 resistance is broken, leaving the 1.1120 level the next upside objective. Overall, traders have few reasons to be bearish towards the EURUSD will price trades above the 1.1060 level. • The EURUSD pair is only bearish while trading below the 1.1060 level, key support is found at the 1.1045 and 1.1020 levels. • The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1090 and 1.1120 levels.
by OctaFX_Official
LTCUSD $36.00 riskLitecoin remains vulnerable to further losses after the cryptocurrency broke major weekly support around the $57.00 level. Going forward, LTCUSD buyers need to defend the $50.00 level to avoid a potential decline towards the $36.00 support level. Overall, a move back above the $80.00 resistance level is needed to confirm the end of the recent downtrend in the LTCUSD pair. • If the LTCUSD pair trades below the $57.00 level, key support is found at the $66.50 and $80.00 levels. • If the LTCUSD pair trades above the $57.00 level, key resistance is found at the $50.00 and $36.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
USDJPY 107.50 possibleThe US dollar remains under pressure against the Japanese yen, following reports that the first phase of the Sino-US trade deal could be delayed until next year. The USDJPY pair is increasingly likely to test towards the 107.50 support level, with the 106.90 level extended weekly support. Going forward, USDJPY traders have few reasons to be bullish while price trades under the 109.00 level. • The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels. • The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 107.50 and 106.90 levels.
by OctaFX_Official
BTCUSD at risk under $8,000Bitcoin is at risk of further losses on the digital currency market as the BTCUSD pair declines below the psychological $8,000 level. BTCUSD buyers need to rally price above the $8,550 level to secure the number one cryptocurrency medium-term prospects. A sustained break under the $8,000 support level could see the BTCUSD pair falling towards the $7,500 technical area. • The BTCUSD pair is only bullish while trading above the $8,550 level, key resistance is located at the $9,000 and $9,400 levels. • If the BTCUSD pair trades under the $8,550 level, sellers may test towards the $8,000 and $7,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD bullish daily closeThe euro continues to rise against the US dollar, with the pair performing a bullish daily price close above the key technical resistance. The EURUSD pair is likely to test the 1.1120 level if a breakout above the 1.1090 level occurs, although the 1.1180 level is by far more technically important. Overall, the release of the FOMC meeting minutes later today could provoke the next wave of US dollar selling. • The EURUSD pair is only bearish while trading below the 1.1060 level, key support is found at the 1.1045 and 1.1020 levels. • The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1090 and 1.1120 levels.
by OctaFX_Official
USDJPY possible breakdownThe US dollar is starting to appear weak against the Japanese yen currency, following multiple technical rejections and bearish lower highs. The USDJPY pair is likely to target the 107.50 level at a minimum this week if a breakout below the 108.20 level occurs. Going forward, only a sustained breakout above the 109.30 level can negate the bearish outlook surrounding the USDJPY pair. • The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.60 and 110.00 levels. • The USDJPY pair is only bearish while trading below the 109.30 level, key technical support is found at the 108.20 and 107.50 levels.
by OctaFX_Official