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Octafx

GBPUSD SELLERS NEED TO HOLD PRICE BELOW 1.2790The British pound is once again under technical selling pressure against the US dollar following a key range breakout to the downside. GBPUSD sellers need to hold price below the 1.2790 level in order to build bearish momentum for a test of the former weekly low. Buyers need to break the 1.2882 level for further bullish advancement toward the 1.2988 resistance level. The GBPUSD pair is only bearish while trading below the 1.2790 level, key technical support is now found at the 1.2732 and 1.2695 levels. If the GBPUSD pair trades above the 1.2790 level, key intraday resistance is found at the 1.2835 and 1.2882 levels.
by OctaFX_Official
EURUSD ONLY INTRADAY BEARISH BELOW 1.1390 LEVELThe euro currency has moved sharply lower against the greenback, following a strong move higher in the US dollar index on Tuesday. The intraday sentiment surrounding the EURUSD pair is bearish while price trades below the 1.1390 level. The MACD indicator is turning lower on the four-hour time frame, with a sustained move below the 1.1370 support level likely to trigger the next round of technical. The EURUSD pair is only bearish while trading below the 1.1390 level, key support is now found at the 1.1330 and 1.1300 levels. If the EURUSD pair trades above the 1.1390 level, key intraday resistance is found at the 1.1418 and 1.1470 levels.
by OctaFX_Official
ETHUSD MOVING CLOSER TO $100.00 LEVELEthereum remains under heavy technical selling pressure on Wednesday, with the third largest cryptocurrency looking set for a seventh consecutive day of losses. A clear breach of the $119.00 support level will likely accelerate technical selling towards the psychological $110.00 level. Traders should also note that price has now broken below the neckline of the largest head and shoulders pattern on the daily time frame. The ETHUSD pair is strongly bearish while trading below the $133.00 level, key support is now found at the $111.00 and $100.00 levels. If the ETHUSD pair trades above the $133.00 level, buyers are likely to test towards the $140.00 and $157.00 resistance levels.
BITFINEX:ETHUSD
by OctaFX_Official
USDJPY TRADING BELOW KEY SUPPORTThe US dollar is now trading below the 112.54 support level against the Japanese yen currency as global equity markets come under heavy selling pressure. The USDJPY pair is heavily bearish while trading below the 112.54 level and may test the 112.00 support level. Buyers now need to move price above the 112.79 level to negate intraday selling pressures on the USDJPY pair. The USDJPY pair is strongly bearish while trading below the 112.54 level, key technical support is found at the 112.39 and 111.92 levels. If the USDJPY pair moves back above the 112.54 level, buyers may test the 112.79 and 113.00 resistance levels.
by OctaFX_Official
GBPUSD IN CONSOLIDATION MODEThe British pound is starting to consolidate around the 1.2850 level against the US dollar, as traders await the latest news surrounding a potential leadership challenge to UK PM Theresa May. The next technical breakout will likely come if we see the 1.2792 to 1.2883 trading range clearly broken. The MACD indicator on the four-hour time frame continues to move away from extremely oversold trading conditions. The GBPUSD pair is only bearish while trading below the 1.2792 level, key technical support is found at the 1.2732 and 1.2695 levels. If the GBPUSD pair trades above the 1.2883 level, key resistance is found at the 1.2930 and 1.3000 levels.
by OctaFX_Official
BTCUSD BREAKS PSYCHOLOGICAL $5,000 BARRIERBitcoin has broken below the psychological $5,000 level as the recent technical sell-off in the broader cryptocurrency market continues. The BTCUSD pair has so far found intraday support from the $4,600 level, although the daily MACD indicator is signalling further losses. The $4,525 level offers the strongest form of technical support before the $4,000 support level comes into focus. The BTCUSD pair is strongly bearish while trading below the $5,000 level, key support is now located at the $4,525 and $4,000 levels. If the BTCUSD pair trades above the $5,000 level, key resistance is found at the $5,170 and $5,300 levels.
BITFINEX:BTCUSD
by OctaFX_Official
LTCUSD $38.60 NOW KEY TECHNICAL SUPPORTLitecoin has remained under heavy selling pressure as the new trading week begins with price slumping below the $40.00 support level. The LTCUSD continues to exhibit bearish trading momentum, after buyers recent failure to move price above the $43.00 resistance level. A clear breach of the $38.60 level exposes further downside in the LTCUSD pair towards the $33.00 support level. The LTCUSD pair is strongly bearish while trading below the $43.00 level, key support is found at the $38.60 and $33.00 levels. If the LTCUSD pair trades above the $43.00 level, buyers are likely to test towards the $45.00 and $47.50 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
USDJPY HEAVY SELLING LIKELY BELOW 112.54 LEVELThe greenback remains under pressure against the Japanese yen currency on Monday as US dollar weakness, and risk-off trading sentiment push the pair lower. Heavy technical selling is expected if price falls below the important 112.54 support level. Only a sustained move above the 113.00 resistance level will negate intraday selling pressures on the USDJPY pair. The USDJPY pair is intraday bearish while trading below the 113.00 level, key technical support is now found at the 112.954 and 111.92 levels. If the USDJPY pair trades above the 113.00 level, buyers may test the 113.70 and 114.54 resistance levels.
by OctaFX_Official
EURUSD FURTHER GAINS EXPECTED ABOVE 1.1360 LEVELThe euro has started the new trading week above the 1.1400 level against the greenback, amidst broad-based weakness in the US dollar index. If buyers can maintain price above the 1.1360 level, further bullish advancement towards the 1.1450 level is expected. Sellers will likely target the technically important 1.1300 support level if the 1.1360 level is clearly breached. The EURUSD pair is intraday bullish while trading above the 1.1360 level, key resistance is now found at the 1.1450 and 1.1500 levels. If the EURUSD pair trades below the 1.1360 level, key intraday support is found at the 1.1330 and 1.1300 levels.
by OctaFX_Official
GBPUSD 1.2835 LEVEL NOW KEY RESISTANCEThe British pound is testing towards the 1.2800 resistance level against the US dollar after finding strong technical support from the 1.2722 level. The intraday sentiment surrounding the GBPUSD pair remains strongly bearish while price trades below the former weekly low, at 1.2835. It is also worth noting that the recent failed attempt at the 1.2694 support level has created a bullish triple-bottom pattern. The GBPUSD pair is strongly bearish while trading below the 1.2835 level, key technical support is now found at the 1.2835 and 1.2694 levels. If the GBPUSD pair trades above the 1.2835 level, key resistance is found at the 1.2900 and 1.2940 levels.
by OctaFX_Official
EURUSD BULLS NOW HAVE THE UPPER HANDThe euro is starting to probe the 1.1351 resistance level against the US dollar, after a failed attempt to contain price below the 1.1300 level. A sustained move above the 1.1351 level supports further bullish advancement for the EURUSD pair towards the 1.1400 resistance level. It is also worth noting that price is trading within a bear flag pattern across the four-hour time frame. The EURUSD pair is only bullish while trading above the 1.1300 level, key resistance is now found at the 1.1380 and 1.1400 levels. If the EURUSD pair trades below the 1.1300 level, key intraday support is now found at the 1.1265 and 1.1216 levels.
by OctaFX_Official
ETHUSD BEARISH BELOW $180.00 LEVELEthereum is starting to probe towards the $180.00 resistance level, after sellers failed to break below the current yearly trading low, at $157.00. Overall, the pressure remains to the downside, despite the marginal recover towards the October trading low. The Moving Average Convergence Divergence indicator on the daily frame is also signalling further losses for the ETHUSD pair. The ETHUSD pair is bearish while trading below the $180.00 level, key support is found at the $157.00 and $144.00 levels. If the ETHUSD pair trades above the $180.00 level, buyers may test towards the $190.00 and $198.00 resistance levels.
BITFINEX:ETHUSD
by OctaFX_Official
BTCUSD STRONGLY BEARISH BELOW $5,700Bitcoin has crashed to a fresh 2018 trading low, amidst a strong technical sell-off in the broader cryptocurrency market on Thursday. The BTCUSD pair is strongly bearish while trading below the $5,700 level and risks deeper losses towards the $5,000 level. Price has also broken below the neckline of a large head and shoulders pattern on the daily time frame. The BTCUSD pair is bearish while trading below the $5,700 level, key support is now located at the $5,300 and $5,000 levels. If the BTCUSD pair trades above the $5,700 level, key resistance is found at the $5,800 and $6,000 levels.
BITFINEX:BTCUSD
by OctaFX_Official
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GBPUSD AWAITING KEY UK RETAIL SALES DATAThe British pound is trading around the psychological 1.3000 level against the US dollar, ahead of the release of key Retail Sales data from the United Kingdom economy this morning. The GBPUSD pair remains volatile amidst ongoing Brexit news, with price earlier spiking towards the 1.3070 level. Buyers need to break the 1.3100 resistance level while sellers need to keep price below the 1.2940 support level. The GBPUSD pair is intraday bullish while trading above the 1.2940 level, key technical resistance is now found at the 1.3070 and 1.3100 levels. If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2900 and 1.2866 levels.
by OctaFX_Official
USDJPY FALLS UNDER TRENDLINE SUPPORTThe US dollar has broken to the downside against the Japanese yen, following a strong move lower in US equity markets on Wednesday. The USDJPY pair has broken below key trendline support from the well-defined rising wedge pattern on the four-hour time frame. Additional intraday selling pressure will be placed on the USDJPY pair if price trades below the 112.94 support level. The USDJPY pair is intraday bearish while trading below the 113.89 level, key technical support is now found at the 113.28 and 112.94 levels. If the USDJPY pair trades above the 113.70 level, buyers may test the 113.89 and 114.19 resistance levels.
by OctaFX_Official
GBPUSD SOARS OVER BREXIT NEWSThe British pound has surged higher against the US dollar, hitting 1.3045, following the news that the UK is close to securing a Brexit deal with the European Union. The GBPUSD pair is intraday bullish above the 1.2900 level and remains highly sensitive to incoming Brexit news. Bulls ideally need to break above the 1.3175 resistance level to negate the recent series of bearish lower highs. The GBPUSD pair is intraday while trading above the 1.2900 level, key technical resistance is now found at the 1.3090 and 1.3175 levels. If the GBPUSD pair trades below the 1.2945 level, key support is found at the 1.2900 and 1.2836 levels.
by OctaFX_Official
EURUSD BEARS NEED TO DEFEND 1.1300 LEVELThe euro has recovered back towards the 1.1300 resistance level against the US dollar over-optimism that the United Kingdom and the European Union are close to securing a Brexit deal. EURUSD sellers need to keep price below the 1.1300 level to maintain the bearish pressure placed on the pair earlier this week. If bulls hold price above the 1.1300 level, we are likely to see a strong technical rebound towards the 1.1450 resistance level. The EURUSD pair is only bullish while trading above the 1.1300 level, key resistance is now found at the 1.1380 and 1.1450 levels. If the EURUSD pair trades below the 1.1300 level, key intraday support is found at the 1.1250 and 1.1216 levels.
by OctaFX_Official
ETHUSD TESTING FORMER WEEKLY LOWEthereum is coming under renewed selling pressure on Wednesday, with the second largest cryptocurrency by market capitalization giving back last weeks trading gains. The ETHUSD pair has recently looked weak above the $200.00 and struggled to regain bullish momentum. A clear breach of the $199.44 level is likely to provoke technical selling, while the $215.00 level is the key upside level buyers need to break. If the ETHUSD pair trades below the $199.40 level, sellers are likely to test towards the $191.10 and $182.00 support levels. The ETHUSD pair is only intraday bullish above the $215.00 level, key resistance is found at the $220.00 and $240.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD UK WAGE AND JOBS DATA IN FOCUSThe British pound continues to trade below the 1.2900 level against the US dollar, despite a strong technical rebound from the 1.2826 level on Monday. The next large directional move from the GBPUSD pair will likely be driven by the release of key UK Wage and Jobs data later this morning. The intraday sentiment surrounding the GBPUSD pair remains bearish while price trades below the 1.2955 level. The GBPUSD pair is strongly bearish while trading below the 1.2955 level, key technical support is now found at the 1.2826 and 1.2785 levels. If the GBPUSD pair trades above the 1.2892 level, buyers may target the 1.2935 and 1.2955 resistance levels.
by OctaFX_Official
EURUSD 1.1216 NOW KEY SUPPORTThe euro has continued to move lower against the US dollar, as Italian political woes send the single currency towards the 1.1200 support level. The EURUSD pair remains heavily bearish and continues to create lower lows, only a strong move above the 1.1300 resistance level can negate short-term selling pressures. Traders now await key CPI inflation and ZEW survey data from the German economy during the European trading session. The EURUSD pair remains strongly bearish while trading below the 1.1300 level, key technical support is now found at the 1.1216 and 1.1178 levels. If the EURUSD pair moves above the 1.1280 level, buyers may test the 1.1300 and 1.1335 resistance levels.
by OctaFX_Official
BTCUSD BACK UNDER SELLING PRESSUREBitcoin has started to weaken alongside the broader cryptocurrency market in early Tuesday trade, with the BTCUSD pair slipping below the $6,300 support level. The recent rally towards the $6,500 level appears to be a false break, with price moving back inside the descending triangle pattern. A clear break below the $6,030 level will likely expose the BTCUSD pair to heavy technical selling. The BTCUSD pair is only bullish while trading above the $6,730 level, key resistance is now located at the $6,300 and $6,515 levels. If the BTCUSD pair continues to trade under the $6,300 level, key support is found at the $6,030 and $5,800 levels.
BITFINEX:BTCUSD
by OctaFX_Official
LTCUSD UNDER PRESSURE BELOW $50.40 LEVELLitecoin is back under selling pressure as the new trading starts, with the LTCUSD eroding its former weekly gains and testing towards the $50.00 support level. The seventh largest cryptocurrency by market capitalization is likely to remain under selling pressure while trading below the $50.40 level. LTCUSD buyers need to move price above the $52.20 resistance level, while sellers will likely test towards the current monthly trading low. The LTCUSD pair is intraday bearish while trading below the $50.40 level, key support is found at the $48.00 and $46.50 levels. If the LTCUSD pair trades above the $52.20 level, buyers are likely to test towards the $55.50 and $59.00 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD UNDER TECHNICAL PRESSUREThe British pound has continued to slide lower against the US dollar in early Monday trade, with price fast approaching the 1.2900 support level. The GBPUSD pair will likely remain under heavy intraday selling technical pressure while trading below the 1.2955 level. The Moving Average Convergence Divergence indicator across the four-hour time frame is trending lower, pointing to further losses. The GBPUSD pair is strongly bearish while trading below the 1.2955 level, key technical support is now found at the 1.2900 and 1.2866 levels. If the GBPUSD pair trades above the 1.2955 level, buyers may target the 1.3000 and 1.3055 resistance levels.
by OctaFX_Official