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Octafx

EURUSD struggling to move higherThe euro is struggling to move higher against the US dollar, with the pair still trading tentatively around the key 1.1400 level. The Moving Average Convergence Divergence indicator is continuing to create bearish lower price lows across the four-hour and daily time frames. Sellers will likely continue to target the 1.1360 level, with a move below this area likely to lead to an eventual test of the technically important 1.1300 level. The EURUSD pair is bearish while trading below the 1.1400 level, key technical support is found at the 1.1360 and 1.1300 levels. If the EURUSD pair starts to trade above the 1.1400 level, buyers may target the 1.1430 and 1.1460 resistance levels.
by OctaFX_Official
BTCUSD watching $3,485 levelBitcoin continues to consolidate around the worst trading levels of the week, with the BTCUSD pair currently unable to build a sustainable rally above the $3,660 level. The $3,485 level is now the key intraday region to watch, as it represents the lowest trading level for BTCUSD pair since it started to surrender recent gains. The MACD indicator on the four-hour time frame has also corrected to neutral and awaits the next directional move. The BTCUSD pair is strongly bearish while trading below the $3,485 level, key technical support is found at the $3,300 and $3,100 levels. If the BTCUSD pair trades back above the $3,660 level, key resistance is found at the $3,960 and $4,200 levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD 1.1400 now key levelThe euro currency remains under downside pressure against the US dollar, following a dovish speech from ECB President Mario Draghi. The EURUSD pair is currently probing the 1.1400 level, a sustained loss of this key area is likely to encourage technical sellers to test the 1.1360 level. If bears fail to break the 1.1400 level, a relief rally back towards the 1.1460 level remains possible. The EURUSD pair is strongly bearish while trading below the 1.1400 level, key technical support is found at the 1.1360 and 1.1300 levels. If the EURUSD pair recovers from the 1.1400 level, buyers may test towards the 1.1460 and 1.1486 resistance levels.
by OctaFX_Official
GBPUSD bulls still in controlThe British pound has recovered earlier losses against the US dollar after the pair tumbled to the 1.2667 support level, as British PM Theresa May’s Brexit bill being voted down in UK Parliament. The GBPUSD pair retains a strong intraday bullish bias while clearly trading above the pivotal 1.2810 level. Traders now await the outcome of the no-confidence-voted submitted against PM May, following yesterday’s defeat in Parliament. The GBPUSD pair remains intraday bullish while trading above the 1.2810 level, key technical resistance remains found at the 1.2930 and 1.3000 levels. If the GBPUSD pair trades below the 1.2810 level, key technical support is found at the 1.2750 and 1.2667 levels.
by OctaFX_Official
LTCUSD under pressure below $33.00 levelThe LTCUSD pair remains under selling pressure on Wednesday, as the eight largest cryptocurrency by market capitalization struggles to rally away from the worst trading levels of the week. Litecoin buyers need to force price back inside the well-defined flag pattern to negate immediate downside pressure. The LTCUSD pair will likely come under further technical selling pressure if the current weekly low, at $29.30, is clearly broken. The LTCUSD pair is bearish while trading below the $33.00 level, key support is found at the $29.30 and the $24.80 levels. If the LTCUSD pair moves above the $33.00, buyers may test the $36.60 and $43.00 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD 1.2930 level now key resistanceThe British pound continues to advance to the upside against the US dollar, with the recent rally extending all the way to the 1.2930 resistance level. Overall, the short-term trend remains bullish while price continues to trade above the pivotal 1.2810 level. It also worth noting that we may be seeing a short-squeeze in the GBPUSD pair, ahead of today’s crucial Brexit vote in UK parliament. The GBPUSD pair remains intraday bullish while trading above the 1.2810 level, key technical resistance is now found at the 1.2930 and 1.3000 levels. If the GBPUSD pair trades below the 1.2810 level, we could see a decline towards the 1.2760 and 1.2660 support levels.
by OctaFX_Official
EURUSD bulls attempting to take controlThe euro has moved back towards the top of its weekly trading range against the US dollar, as the greenback comes under selling pressure across the board on Tuesday. EURUSD buyers are now attempting to take control of price action, with a strong move above the 1.1490 level now needed for bulls to advance towards the 1.1430 resistance barrier. Technical failure around the 1.1490 resistance level will likely encourage sellers to attack the 1.1460 support zone once again. The EURUSD pair is only intraday bullish while trading above the 1.1490 level, key technical resistance is found at the 1.1530 and 1.1569 levels. If the EURUSD pair fails around the 1.1490 level, sellers may test towards the 1.1460 and 1.1430 support levels.
by OctaFX_Official
ETHUSD key trendline support holdsEthereum bulls are attempting to recover upside momentum in early Tuesday trade, with the ETHUSD pair bouncing sharply from key trendline support. If buyers can sustain the recovery, the recent pullback will have created a third higher trading low for the ETHUSD pair. Bullish momentum is also building, as the MACD indicator on the one and four-hour time frames are starting to move higher. The ETHUSD pair is bullish while trading above the $126.00 level, key resistance is found at the $158.00 and $170.00 levels. If ETHUSD pair trades back under the $126.00 level, sellers may test towards the $110.00 and $92.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
4
GBPUSD intraday bullish above 1.2810The British pound is trading to the upside against the US dollar in early Monday trade, following reports that the United Kingdom’s departure from the European Union on March 29th could be delayed until July this year. The GBPUSD pair is intraday bullish while trading above the 1.2810 level and the MACD indicator on the daily time frame is also currently bullish. The pairs one-hundred day moving average, at 1.2895, and the 1.3000 level are the major resistance levels to watch. The GBPUSD pair is intraday bullish while trading above the 1.2810 level, key technical resistance is found at the 1.2895 and 1.3000 levels. If the GBPUSD pair trades below the 1.2810 level, sellers may test towards the 1.2760 and 1.2685 support levels.
by OctaFX_Official
EURUSD 1.1460 now key supportThe euro currency continues to trade on the backfoot against the US dollar, following Friday’s sharp technical reversal below the pivotal 1.1490 level. The 1.1460 level is the major support area to watch today, with losses below this level likely to prompt further losses towards at least the 1.1430 level. It is also worth noting that the EURUSD pair performed a bearish weekly price close below its 100-day moving average last week. The EURUSD pair is intraday bearish while trading below the 1.1460 level, key technical support is found at the 1.1430 and 1.1400 levels. If the EURUSD pair moves above the 1.1490 level, buyers may test towards the 1.1530 and 1.1550 resistance levels.
by OctaFX_Official
BTCUSD under pressure below $3,660Bitcoin has started the new trading week under downside pressure, with the BTCUSD pair now trading below the important $3,660 technical level. The BTCUSD pair risks additional losses towards the $3,300 level while buyers are unable to hold price above the $3,660. It is also worth note that despite sellers taking control of price-action BTCUSD trading volumes are declining. The BTCUSD pair is bearish while trading below the $3,660 level, key technical support is found at the $3,300 and $3,100 levels. If the BTCUSD pair trades above the $3,660 level, buyers may test towards the $3,850 and $3,960 resistance levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD traders awaiting important dataThe British pound remains largely unchanged against the US dollar, as traders await the release of important macroeconomic data from the United Kingdom economy this morning. A clear break from the 1.2700 to 1.2800 price range is currently needed to provide the impetus for the next directional move. Short-term technical indicators remain largely neutral for the GBPUSD pair, it is also worth noting that sterling traders remain cautious ahead of next weeks crucial Brexit vote in UK Parliament. The GBPUSD pair only intraday bullish while trading above the 1.2800 level, key technical resistance is found at the 1.2820 and 1.2890 levels. If the GBPUSD pair trades under the 1.2700 level, sellers are likely to test towards the 1.2660 and 1.2600 levels.
by OctaFX_Official
EURUSD dip buyers retain controlThe euro currency is starting to recover short-term bullish momentum against the US dollar, following a brief test of buying demand below the key 1.1490 level. The intraday sentiment surrounding the EURUSD pair remains bullish while price trades above the 1.1490. It is also worth noting that the EURUSD has performed two consecutive daily price closes above its one-hundred day moving average. The EURUSD pair is intraday bullish while trading above the 1.1490 level, key technical resistance remains at the 1.1550 and 1.1600 levels. If the EURUSD pair moves below the 1.1490 level, sellers may test towards the 1.1460 and 1.1430 support levels.
by OctaFX_Official
LTCUSD $31.50 now key supportThe LTCUSD pair has come under heavy selling pressure, after a brief period of stability in the broader cryptocurrency market. The decline has so far found support from the $31.50 level, a further move below the $30.00 level will likely increase technical selling. It is also worth noting that LTCUSD bulls may use the pullback as a chance to buy the pair at a more attractive price and the drop has helped closed to close the gap on the charts. The LTCUSD pair is bearish while trading below the $36.60 level, key support is found at the $30.00 and the $26.00 levels. If the LTCUSD pair holds above the $31.50, buyers may test the $36.60 and $40.00 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
EURUSD 1.1550 key for further upsideThe euro has surged higher against the US dollar, following the release of a more dovish than expected meeting minutes from the Federal Open Market Committee.\u2028\u2028The 1.1550 level is now the key area to watch for further upside in the EURUSD, with bulls needing to hold price above this area for further gains towards the 1.1600 level. To the downside, EURUSD bears need to hold price below the 1.1490 support level to encourage technical selling. The EURUSD pair is strongly bullish while trading above the 1.1550 level, key technical resistance is found at the 1.1600 and 1.1630 levels.\u2028\u2028 If the EURUSD pair trades below the 1.1490 level, sellers may test towards the 1.1460 and 1.1430 support levels.
by OctaFX_Official
GBPUSD struggling with 1.2800 levelThe British pound is struggling to break above the 1.2800 level against the US dollar, as near-term Brexit risks are containing the upside in the pair. Despite GBPUSD bulls failure to surpass the 1.2800 level, the intraday sentiment towards the pair is bullish while price trades above the 1.2740 level. Traders now await the release of the Bank of England Credit Condition survey. The GBPUSD pair is intraday bullish while trading above the 1.2740 level, key technical resistance remains at the 1.2810 and 1.2900 levels. If the GBPUSD pair trades under the 1.2740 level, sellers are likely to test the 1.2700 and 1.2660 levels.
by OctaFX_Official
3
BTCUSD awaiting decisive moveBitcoin is trading in an increasingly narrow range on Thursday, with price seemingly trapped between the $3,960 and $4,100 levels. The broader cryptocurrency market is also seeing a number of top cryptocurrencies unable to break higher, after staging strong upside moves. BTCUSD buyers risk losing control of short-term price, as the recent rally in the pair is starting to look like a corrective move higher, rather than the start of a meaningful trend change.\u2028\u2028 The BTCUSD pair is only bullish while trading above the $4,200 level, key technical resistance is found at the $4,400 and $4,490 levels. \u2028\u2028If the BTCUSD pair trades below the $3,960 level, sellers are likely to test towards the $3,660 and $3,300 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD neutral intraday biasThe British pound has moved back towards the pivotal 1.2740 level against the US dollar after buyers failed to break above the 1.2810 resistance level. The current intraday sentiment surrounding the GBPUSD pair is neutral, although in the short-term buyers have the upper hand while price trades above the 1.2660 level. The MACD indicator on the daily time frame is approaching neutral levels, while the Momentum indicator is starting to turn lower. The GBPUSD pair only intraday bullish while trading above the 1.2780 level, key technical resistance is found at the 1.2810 and 1.2900 levels. If the GBPUSD pair trades under the 1.2700 level, sellers are likely to test the 1.2660 and 1.2600 levels.
by OctaFX_Official
EURUSD bullish daily close remains elusiveThe euro is struggling to break higher against the US dollar currency, as buyers fail to close the daily candle above the pairs key 100-day moving average. Despite the failure to break the 1.1500 barrier, the EURUSD pair remains well-bid on pullbacks towards the 1.1400 support level. Traders now await the release of German export data and the official eurozone unemployment this morning. The EURUSD pair is intraday bullish while trading above the 1.1480 level, key technical resistance is found at 1.1500 and 1.1550 levels. If the EURUSD pair trades below the 1.1430 level, sellers are increasingly likely to test the 1.1410 and 1.1360 support levels.
by OctaFX_Official
ETHUSD bullish momentum growingEthereum continues to hold firm around the $150.00 level, despite bearish fundamental developments surrounding the ETHUSD pair on Tuesday. Buying momentum is growing in the short and medium-term, with the ETHUSD pair also exhibiting the formation of a bullish cup and handle pattern on the lower time frames. Only a strong below the $138.00 support level can negate upside pressures. The ETHUSD pair is bullish while trading above the $138.00 level, key resistance is found at the $172.00 and $195.00 levels. If ETHUSD pair trades below the $138.00 level, sellers may test towards the $125.00 and $108.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD losing bullish momentumThe euro is starting to lose ground against the US dollar currency, after a failed attempt to break above the 1.1500 resistance level. The recent failure to overcome the 1.1500 level has provoked technical selling back towards the 1.1430 support level. The sustained break from the 1.1360 to 1.1470 trading range will likely provide a directional bias for short-term traders. The EURUSD pair is only intraday bullish while trading above the 1.1470 level, key technical resistance is found at 1.1500 and 1.1550 levels. If the EURUSD pair trades below the 1.1430 level, sellers may towards the 1.1410 and 1.1360 support levels.
by OctaFX_Official
GBPUSD bulls need to break 1.2810 levelThe British pound continues to edge higher against the US dollar in early Tuesday trade, as buyers test towards the 1.2800 resistance level. If buyers can break above the 1.2810 resistance level, the GBPUSD pair could eventually rally towards the 1.2930 level. Technical failure before the 1.2810 resistance level will likely trigger heavy selling back towards the 1.2660 level. The GBPUSD pair is only intraday bullish while trading above the 1.2740 level, key technical resistance is now found at the 1.2810 and 1.2850 levels. If the GBPUSD pair trades under the 1.2740 level, sellers are likely to test the 1.2700 and 1.2660 levels.
by OctaFX_Official
LTCUSD bullish pattern in focusThe LTCUSD pair has opened the trading week strongly, with price breaking above the important $36.60 level and rallying towards the $39.00 region. Buyers now need to hold price above the $36.60 level for further advancement above the $40.00 level. The bullish inverted head and shoulders pattern has been triggered and remains the immediate focus for short-term buyers. The LTCUSD pair is bullish while trading above the $36.60 level, key resistance is found at the $40.00 and the $46.00 levels. If the LTCUSD pair falls below the $36.60, sellers may test the $30.00 and $26.00 support levels.
BITFINEX:LTCUSD
by OctaFX_Official