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Octafx

EURUSD 1.1460 now key resistanceThe euro currency continues to trade higher against the US dollar on Tuesday, with the pair so far finding interim resistance from the 1.1444 level. If the EURUSD pair continues to move higher, the 1.1460 resistance level offers strong resistance before the key 1.1500 level comes into focus. It is worth noting that the FOMC interest rate decision is tomorrow and traders may start to become cautious. The EURUSD pair remains 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 1.1410 level, sellers may test towards the 1.1385 and 1.1360 support levels.
by OctaFX_Official
USDJPY testing neckline supportThe US dollar continues to trade lower against Japanese yen currency on Tuesday, with the pair falling towards the key 109.00 support level. Price is now trading close to the neckline of a bearish head and shoulders pattern with a one-hundred point downside projection. The MACD histogram continues to track lower and has just moved into negative territory on the four-hour time frame. The USDJPY pair is bearish while trading below the 109.14 level, key technical support is found at the 108.58 and 107.80 levels. If the USDJPY pair moves above the 109.45 level, buyers may test towards the 109.60 and 110.00 levels.
by OctaFX_Official
GBPUSD appears overstretchedThe British pound is trading close to the 1.3200 resistance level in early week trade against the US dollar, as traders await Tuesday’s vote on British PM Theresa May’s new Brexit deal. The GBPUSD pair retains a strong bullish bias while trading above 1.3170 level, although the MACD indicator on the four-hour time frame is currently extremely overbought. If sterling continues to rise, the 1.3290 to 1.3300 region is likely to be buyers short-term upside objective. The GBPUSD pair is strongly bullish while trading above the 1.3170 level, key technical resistance is now found at the 1.3250 and 1.3300 levels. If the GBPUSD pair trades under the 1.3170 level, a decline towards the 1.3130 and 1.3095 levels may occur.
by OctaFX_Official
EURUSD further upside expected above 1.1410The euro is holding onto Friday’s strong gains against the greenback in early-week trading, as the US dollar comes under selling pressure across the board. The EURUSD pair has a strong bullish bias while trading above the 1.1410 level, with buyers likely aiming for the pivotal 1.1460 level. Strong technical failure from current levels may provoke sellers to test towards the 1.1360 area. The EURUSD pair is strongly bullish while trading above the 1.1410 level, key technical resistance is found at the 1.1460 and 1.1530 levels. If the EURUSD pair falls below the 1.1410 level, sellers may test towards the 1.1360 and 1.1330 support levels.
by OctaFX_Official
2
BTCUSD awaiting directional moveBitcoin is under mild selling pressure as the new trading week begins, as traders await a much needed directional move in the number one cryptocurrency. Technically, the BTCUSD pair is trading within a bullish flag pattern in the short-term, which may indicate that an upside move is likely to occur. To the downside, if sellers can break the former weekly low a test of the $3,300 level seems the most likely scenario. The BTCUSD pair is only bearish while trading below the $3,415 level, key technical support is found at the $3,300 and $3,100 levels. If the BTCUSD pair trades above the $3,660 level, key resistance is found at the $3,960 and $4,220 levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD upside break underwayThe British pound has broken above the key 1.3095 resistance level against the US dollar after reports surfaced that the Irish DUP party now support British PM Theresa May’s amended Brexit deal. If the GBPUSD pair holds above the 1.3095 level, buyers could start to test towards the 1.3170 level. The overall short-term upside target for buyers is likely to be the August 2018 trading high, which is located close to the 1.3300 level. The GBPUSD pair is strongly bullish while trading above the 1.3095 level, key technical resistance is now found at the 1.3170 and 1.3300 levels. If the GBPUSD pair trades back under the 1.3095 level, a decline towards the 1.3030 and 1.2990 levels may occur.
by OctaFX_Official
EURUSD heavily bearish below 1.1300The euro currency is under heavy downside pressure against the US dollar on Friday after ECB President Mario Draghi struck a more dovish tone towards the eurozone economy at yesterday’s ECB policy meeting. A clear break below the 1.1300 level exposes the EURUSD pair to further technical selling towards at least the 1.1260 level. A bearish head and shoulders pattern is starting to emerge across the lower time frames. The EURUSD pair is strongly bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1214 levels. If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1380 and 1.1410 resistance levels.
by OctaFX_Official
ETHUSD remains vulnerable to lossesEthereum remains under downside pressure on Friday, amidst declining trading volumes and historically low trading ranges. Until a sustained break from the $110.00 to $125.00 price range occurs, narrowing trading conditions are likely to persist for the second largest cryptocurrency. The $92.00 level is likely to be sellers immediate target if the $110.00 level is broken. The ETHUSD pair is only bullish while trading above the $125.00 level, key resistance remains at the 140.00 and $158.00 levels.\u2028 If ETHUSD pair trades below the $110.00 level, key support is found at the $100.00 and 92.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD awaiting key manufacturing dataThe euro is starting to move higher against the US dollar in early Thursday trade, ahead of the release of key eurozone PMI manufacturing data later this morning. Weaker than expected PMI data from the French and German economies will likely reverse the EURUSD pairs recent recovery, with the 1.1335 level the key support level to watch. The 1.1410 level is the immediate resistance bulls need to break to encourage further technical buying. The EURUSD pair is only bearish while trading below the 1.1360 level, key technical support is found at the 1.1335 and 1.1300 levels. If the EURUSD pair holds above the 1.1380 level, buyers may test towards the 1.1410 and 1.1450 resistance levels.
by OctaFX_Official
GBPUSD bulls attacking major resistanceThe British pound has surged to its highest trading level against the US dollar since November 2018, after bulls easily broke through the 1.3030 resistance barrier on Wednesday. The GBPUSD pair now trades above its 200-day moving average and faces a key challenge from the 1.3095 resistance level. If bulls can move price above the 1.3095 level, further upside towards the 1.3170 level seems possible. The GBPUSD pair is strongly bullish while trading above the 1.3030 level, key technical resistance is now found at the 1.3095 and 1.3170 levels. If the GBPUSD pair falls under the 1.3030 level, a decline towards the 1.2990 and 1.2940 levels may occur.
by OctaFX_Official
BTCUSD sellers fail to capitalizeBitcoin is once again testing towards the $3,660 resistance level, after sellers failed to capitalize on the early week drop below the key $3,485 support level. The broader cryptocurrency market enjoyed a decent rally on Wednesday, although the BTCUSD pair added only marginal gains on the day. A break of the $3,300 to $3,960 price range is needed before the next short-term trend can be established. The BTCUSD pair is only bearish while trading below the $3,485 level, key technical support remains at the $3,300 and $3,100 levels. If the BTCUSD pair breaks above the $3,660 level, key resistance is then found at the $3,960 and $4,220 levels.
BITFINEX:BTCUSD
by OctaFX_Official
4
LTCUSD triple bottom in focusThe LTCUSD pair is attempting to recover bullish momentum above the $30.00 level on Wednesday after the early week decline found strong support from the $28.00 level. The LTCUSD pair has potentially formed a bullish triple-bottom after seller failed to breach the December trading low. The $32.00 and $35.00 levels offer the strongest forms of resistance on an intraday basis. The LTCUSD pair is only bullish while trading above the $32.00 level, key resistance is found at the $35.00 and $36.00 levels. If the LTCUSD pair moves below the $30.00, sellers may test the $28.00 and $27.10 support levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD bulls back in chargeThe British pound is trading back above the 1.2930 level against the US dollar on Wednesday, with bulls once again taking control of the pair. Price is creating bullish lower lows, while the MACD indicator on the four-hour time frame is now consistent with price. An eventual test of the rising wedge pattern upper trendline may occur if GBPUSD bulls can break the 1.3000 level. The GBPUSD pair is intraday bullish while trading above the 1.2890 level, key technical resistance is found at the 1.3000 and 1.3030 levels. If the GBPUSD pair falls under the 1.2890 level, key support is now found at the 1.2850 and 1.2810 levels.
by OctaFX_Official
EURUSD average true range plummetsThe euro currency is once again trading around the technically important 1.1360 level against the US dollar, after a brief dip towards the 1.1335 support level. The ATR indicator on the four-hour time frame has plummeted to historically low levels, as the EURUSD pairs trading range narrows ahead of Thursday’s ECB meeting. The ATR indicator is a key measure of volatility and is typically calculated over a 14 day period. The EURUSD pair remains bearish while trading below the 1.1410 level, key technical support is now found at the 1.1335 and 1.1300 levels. If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1380 and 1.1410 resistance levels.
by OctaFX_Official
GBPUSD testing pivotal 1.2890 levelThe British pound has recovered early week losses against the US dollar, after UK lawmakers proposed a bill to stop a no-deal Brexit. The GBPUSD pair is probing towards the pivotal 1.2890 level, ahead of the release of important jobs data from the UK economy this morning. Bearish MACD divergence is being created on the four-hour time frame, as price is currently trending higher, but the histogram remains neutral. The GBPUSD pair is intraday bullish while trading above the 1.2890 level, key technical resistance is found at the 1.2930 and 1.3000 levels. If the GBPUSD pair trades below the 1.2890 level, key support is found at the 1.2810 and 1.2778 levels.
by OctaFX_Official
EURUSD selling momentum easingThe euro currency is trading in an increasingly narrow trading range against the US dollar on Tuesday, as the recent bearish selling momentum starts to ease. Further losses in the EURUSD remain possible, although sellers are struggling to hold price below the 1.1360 level. Traders are also starting to become cautious ahead of Thursday’s key European Central Bank meeting. The EURUSD pair is intraday bearish while trading below the 1.1410 level, key technical support is found at the 1.1360 and 1.1300 levels. If the EURUSD pair moves above the 1.1410 level, buyers may test towards the 1.1460 and 1.1490 resistance levels.
by OctaFX_Official
ETHUSD trading at critical junctureEthereum sellers are struggling to break the $110.00 support level on Tuesday, despite the third largest cryptocurrencies bearish start to the new trading week. The RSI indicator on the four-hour time frame remains close to oversold, while the Stochastic indicator on the mentioned time frame remains inconclusive at present. A clear break from the $110.00 to $125.00 price range should decide the next directional move in the ETHUSD pair. The ETHUSD pair is only bullish while trading above the $125.00 level, key resistance is found at the 140.00 and $158.00 levels. If ETHUSD pair falls under the $110.00 level, key support is found at the $104.00 and 92.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
BTCUSD under downside pressureBitcoin has started the new trading week under selling pressure, with the BTCUSD pair now probing towards the $3,500 support level. The BTCUSD pair has broken below a symmetrical triangle pattern, following days of price consolidation. A clear break below the $3,485 level will likely encourage technical sellers to test towards the important $3,300 support level. The BTCUSD pair is strongly bearish while trading below the $3,485 level, key technical support remains at the $3,300 and $3,100 levels. If the BTCUSD pair moves back above the $3,660 level, key technical resistance is found at the $4,000 and $4,220 levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD intraday bearish below 1.2890 levelThe British pound is back under downside pressure against the US dollar in early-week trading, as the recent rally in the pair continues to unravel. The GBPUSD pair is intraday bearish while trading below the pivotal 1.2890 level, with sellers increasingly likely to test the next major support level, at 1.2810. Aside from the chances of a hard-Brexit increasing over the weekend, the MACD on the four-hour time frame is starting to trend lower. The GBPUSD pair is intraday bearish while trading below the 1.2890 level, key technical support is found at the 1.2810 and 1.2750 levels. If the GBPUSD pair trades above the 1.2890 level, key resistance is found at the 1.2930 and 1.3000 levels.
by OctaFX_Official
EURUSD 1.1360 key level to watchThe euro currency remains under pressure against the US dollar on Monday, with the pair trading close to the pivotal 1.1360 support level. A sustained loss of the 1.1360 level will likely provoke an eventual test of the 1.1300 level, which is a historically important level for the EURUSD. Looking to the upside, buyers need to break above the 1.1410 level to build further bullish momentum. The EURUSD pair is strongly bearish while trading below the 1.1360 level, key technical support is found at the 1.1300 and 1.1260 levels. If the EURUSD pair moves above the 1.1410 level, buyers may test towards the 1.1430 and 1.1460 resistance levels.
by OctaFX_Official
ETHUSD still bearish below $126.00 levelEthereum remains under pressure on Friday, as the third largest cryptocurrency by market capitalization struggles to attract short-term buying interest. The Relative Strength and Momentum indicators on the four-hour time frame are currently neutral, suggesting further price consolidation ahead. Overall, a clear break from the $110.00 to $126.00 levels is needed to move away from the current narrow trading ranges. The ETHUSD pair is only bullish while trading above the $126.00 level, key resistance remains at the $158.00 and $170.00 levels. If ETHUSD pair trades back under the $110.00 level, sellers may test towards the $98.00 and $80.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD sterling hits 1.3000The British pound has surged towards the 1.3000 level against the US dollar, as traders continue to speculate that the United Kingdom’s departure from the European Union may be delayed. The bullish break above the 1.2930 level further encouraged sterling buyers, with the psychological 1.3000 level now key intraday resistance. The 1.3095 level is the next key upside level to watch if the 1.3000 technical barrier is broken by GBPUSD bulls. The GBPUSD pair is strongly bullish while trading above the 1.2930 level, key technical resistance is now found at the 1.3000 and 1.3095 levels. If the GBPUSD pair fails around current levels, key technical support is found at the 1.2930 and 1.2890 levels.
by OctaFX_Official
USDJPY could test 110.00 levelThe US dollar has broken higher against the Japanese yen, amidst fresh hopes that the United States and China may strike a trade deal. The recent bullish move above the USDJPY pairs 100-period moving average on the four-hour time frame is also encouraging technical buying. Overall, a move towards the 110.00 level should be expected while price trade above the 109.19 to 109.08 support region. The USDJPY pair is strongly bullish while trading above the 109.08 level, key technical resistance is found at the 109.60 and 110.00 levels. If the USDJPY pair trades below the 109.08 level, sellers may test towards the 108.80 and 108.40 levels.
by OctaFX_Official