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Octafx

GBPUSD TURNING BEARISH AHEAD OF UK DATAThe British pound is under selling pressure against the US dollar in early Friday trade, following the release of the FOMC monetary policy statement. The GBPUSD pair is intraday bearish while trading below the 1.3100 level, with the MACD indicator turning lower across the four-hour time frame. Traders now await the release of key GDP and Trade data from the United Kingdom economy this morning. The GBPUSD pair is bearish while trading below the 1.3100 level, key support is found at the 1.3000 and 1.2955 levels. If the GBPUSD pair moves above the 1.3100 level, key resistance is found at the 1.3122 and 1.3170 levels.
by OctaFX_Official
EURUSD STRONGLY BEARISH BELOW 1.1352 LEVELThe euro currency is coming under renewed selling pressure against the US dollar after the FOMC policy statement revealed that the US Federal Reserve is likely to continue hiking US interest rates. The EURUSD pair is strongly bearish while trading below the 1.1352 level and may soon challenge key support, at 1.1300. Buyers need to move price above the 1.1400 resistance level to reduce short-term technical selling pressures. The EURUSD pair is strongly bearish while trading below the 1.1352 level, key support is found at the 1.1300 and 1.1200 levels. If the EURUSD pair moves above the 1.1400 level, buyers are once again likely to test towards the 1.1431 and 1.1452 resistance levels.
by OctaFX_Official
ETHUSD SLIPPING AFTER TECHNICAL FAILUREEthereum is starting to give back earlier strong gains after buyers failed to keep price above the important $215.00 level. The broader cryptocurrency market is also weakening, which is putting downside pressure on the second largest cryptocurrency by market capitalization. Sellers will try to force the ETHUSD pair below the $200.00 level, while buyers will likely attempt to regain bullish momentum and close the week above the $215.00 level. The ETHUSD pair is bearish while trading below the $215.00 level, key support is found at the $200.00 and $191.00 levels. If the ETHUSD pair trades above the $215.00 level, key resistance is found at the $218.00 and $239.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD ONLY INTRADAY BULLISH ABOVE 1.3100The British pound is moving back towards the 1.3100 support level against the US dollar, after peaking at the 1.3170 level on Wednesday. The GBPUSD pair remains vulnerable to further declines below the 1.3100 support level, with a breach of trendline support likely to promote technical selling. Buyers need to stabilize price above the 1.3100 level to build momentum for another attempt at the 1.3200 level. The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is now found at the 1.3170 and 1.3200 levels. If the GBPUSD pair moves below the 1.3100 level, key support is found at the 1.3055 and 1.3022 levels.
by OctaFX_Official
EURUSD TRADING BACK UNDER KEY SUPPORTThe euro is now trading below the key 1.1431 level against the US dollar, following a strong technical rejection from the 1.1500 resistance level. The EURUSD pair is intraday bearish while trading above the 1.1431 level and could form a bearish head and shoulders pattern if the decline continues. Buyers need to move price back above the 1.1452 level to stabilize the EURUSD. The EURUSD pair is intraday bearish while trading below the 1.1431 level, key support is found at the 1.1387 and 1.1352 levels. If the EURUSD pair moves above the 1.1431 level, buyers are likely to test towards the 1.1452 and 1.1500 resistance levels.
by OctaFX_Official
BTCUSD STRUGGLES WITH $6,500 RESISTANCEBitcoin is starting to edge lower in early Thursday trade after buyers failed to make headway above the $6,500 resistance level. The BTCUSD pair is likely to remain cautious ahead of the US Securities and Exchange Commissions ruling over a potential Bitcoin ETF, which is expected to be announced at any time. A clear break from the $6,300 to $6,500 price range is likely to spark the next directional move in the BTCUSD pair. The BTCUSD pair is only intraday bullish while trading above the $6,500 level, key resistance remains at the $6,730 and $6,830 levels. If the BTCUSD pair trades below the $6,300 level, sellers are likely to test towards the $6,200 and $6,050 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD INTRADAY BULLISH ABOVE 1.1431The euro currency is trading sharply higher against the US dollar in early Wednesday trade, following the results of the US mid-term elections. The EURUSD pair is strongly bullish while trading above the 1.1431 level, with traders now watching the inverted head and shoulders pattern across the four-hour time frame. Despite the bullish break higher, the EURUSD pair still faces key risk-events from EU Retail Sales and the FOMC policy meeting later this week. The EURUSD pair is bullish while trading above the 1.1431 level, key support is found at the 1.1410 and 1.1387 levels. If the EURUSD pair moves above the 1.1470 level, buyers are likely to test towards the 1.1500 and 1.1553 resistance levels.
by OctaFX_Official
GBPUSD WATCHING MACD DIVERGENCEThe British pound has surged above the 1.3100 level against the US dollar after the US mid-term elections results caused the greenback to sell-off across the board. The GBPUSD pair is strongly bullish while trading above the 1.3100 level, with the 1.3200 level the next large resistance barrier ahead. Caution is advised, as the GBPUSD pair is showing negative MACD price divergence on the one-hour time frame. The GBPUSD pair is strongly bullish while trading above the 1.3100 level, key resistance is now found at the 1.3145 and 1.3200 levels. If the GBPUSD pair moves below the 1.3100 level, sellers may test towards the 1.3060 and 1.3040 support levels.
by OctaFX_Official
LTCUSD ATTEMPTING BULLISH BREAK ABOVE $55.80Litecoin is once again pressing higher on Wednesday, following the bullish descending wedge pattern breakout earlier this week. Buyers are now testing towards the October 15th swing-high, at $55.80, with a breach of this resistance level likely to spark strong technical buying. Rejection from the $55.80 level will likely prompt sellers to test back towards the $51.50 support level. The LTCUSD pair is bullish while trading below the $51.50 level, key technical resistance is found at the $55.80 and $58.90 levels. If the LTCUSD pair trades below the $51.50 level, sellers will likely test the $50.00 and $47.10 levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD STRONGLY BULLISH ABOVE 1.3040The British pound has moved to a fresh two-week trading high against the US dollar, with buyers breaking above the important 1.3040 level. The GBPUSD pair is strongly bullish while trading above the 1.3040 level and is increasingly likely to challenge the 1.3100 resistance level. Technical indicators are still rising across the one and four-hour time frames, supporting bullish momentum. The GBPUSD pair is strongly bullish while trading above the 1.3040 level, key resistance is now found at the 1.3100 and 1.3200 levels. If the GBPUSD pair moves below the 1.3040 level, sellers may test towards the 1.3000 and 1.2965 support levels.
by OctaFX_Official
EURUSD INVERTED HEAD AND SHOULDERS FORMINGThe euro has moved above the key 1.1387 resistance level against the US dollar, after finding strong dip-buying interest just above the 1.1350 level on Monday. The EURUSD pair may also be forming a bullish inverted head and shoulders pattern, with a sizeable upside projection. EURUSD trade is also likely to become increasingly cautious ahead of the US mid-term election results. The EURUSD pair is intraday bullish while trading above the 1.1387 level, key technical resistance is now found at the 1.1431 and 1.1500 levels. If the EURUSD pair declines below the 1.1387 level, sellers may target the 1.1352 and 1.1300 levels.
by OctaFX_Official
ETHUSD BULLS NEED TO BREAK $215.00 LEVELEthereum continues to trade to the upside following Monday’s strong technical break above key trendline resistance. Going forward, buyers need to break above the important former swing-high, at $215.00, to keep the recent bullish momentum intact. ETHUSD sellers will likely attempt to move price below the $200.00 level and target trendline support. The ETHUSD pair is intraday bullish while trading above the $191.00 level, key resistance is found at the $215.00 and $242.00 levels. If the ETHUSD pair trades below the $191.00 level, sellers are likely to test towards the $184.00 and $179.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
BTCUSD TESTING TRIANGLE RESISTANCEBitcoin is now testing key resistance from the top side of the well-defined symmetrical triangle pattern, as the entire cryptocurrency market start the new trading week with a strong bid tone. Buyers still need to clearly move price above the $6,760 level to change the short-term bearish sentiment surrounding the BTCUSD pair. Sellers need to push price below the triangle pattern and break the former weekly trading low. The BTCUSD pair is only intraday bullish while trading above the $6,760 level, key resistance remains at the $6,550 and $5,760 levels. If the BTCUSD pair trades below the $6,300 level, sellers are likely to test towards the $6,200 and $6,050 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD INTRADAY BEARISH BELOW 1.1387The euro currency is once again trading on the backfoot against the US dollar after price was strongly rejected from the 1.1450 level. From a technical perspective, the intraday bias surrounding the EURUSD pair is bearish while price trades below the 1.1387 resistance level. Buyers will likely aim to move price above the 1.1431 level, while sellers will attempt to break the 1.1300 level. The EURUSD pair is bearish while trading below the 1.1387 level, key support is found at the 1.1330 and 1.1300 levels. If the EURUSD pair moves above the 1.1431 level, buyers are likely to test towards the 1.1450 and 1.1500 resistance levels.
by OctaFX_Official
GBPUSD AWAITING UK SERVICES DATAThe British pound is trading close to the 1.3000 level against the US dollar after giving back gains following Friday’s impressive Nonfarm payrolls job report from the US economy. The intraday bias surrounding the GBPUSD pair remains bullish while price continues to trade above the 1.2950 support level. Traders now await key PMI Services data from the United Kingdom economy this morning. The GBPUSD pair is only bullish while trading above the 1.2950 level, key resistance is now found at the 1.3040 and 1.3100 levels. If the GBPUSD pair moves below the 1.2950 level, sellers may test towards the 1.2900 and 1.2866 support levels.
by OctaFX_Official
USDJPY BEARISH MOMENTUM BUILDINGThe US dollar is coming under increasing downside pressure against the Japanese yen, after the US dollar index suffered a steep reversal on Thursday. Bearish momentum is starting to build, with technical sellers testing the 113.00 support level. The recent reversal from the 113.40 level has the potential to create a bearish head and shoulders pattern on the lower time frames. The USDJPY pair is bearish while trading below the 112.87 level, key support is now found at the 112.20 and 111.10 levels. If the USDJPY pair trades above the 112.87 level, buyers are likely to test the 113.40 and 114.20 resistance levels.
by OctaFX_Official
LTCUSD WATCHING $50.00 LEVELLitecoin is starting to test higher on Friday, with the seventh largest cryptocurrency by market capitalization probing towards the $50.00 resistance level. If buyers can move price above the $50.00 level, the LTCUSD pair will then move back inside its former trading range. Technical rejection from the $50.00 level may provoke technical selling in the LTCUSD pair towards the $46.50 support level. The LTCUSD pair is only intraday bearish while trading below the $50.00 level, key technical support is now found at the $48.80 and $46.50 levels. If the LTCUSD pair trades above the $50.00 level, intraday buyers may test towards the $53.00 and $55.50 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD 1.2920 NOW KEY TECHNICAL SUPPORTThe British pound is strongly bullish against the US dollar, after performing its second largest one-day gain of the year on Thursday. The GBPUSD pairs directional is focused on the upside while price trades above the 1.2920 level, which is former key resistance now turned key support. A sustained move above the 1.3000 level should encourage buying towards the 1.3090 level, although GBPUSD bulls may become more cautious ahead of today’s job report from the US economy. The GBPUSD pair is strongly bullish while trading above the 1.2920 level, key resistance is now found at the 1.3050 and 1.3090 levels. If the GBPUSD pair moves below the 1.2920 level, sellers may test towards the 1.2880 and 1.2852 support levels.
by OctaFX_Official
EURUSD BULLISH DOUBLE BOTTOM FORMINGThe euro is rising against the greenback in early Thursday trade after sellers once again failed to break with 1.1300 support level. The recent technical failure, at 1.1301, has created a bullish double-bottom pattern, which is encouraging intraday buying interest. The next large directional move in the EURUSD pair is likely to occur once the 1.1301 to 1.1380 price range has clearly been breached. The EURUSD pair is only bearish while trading below the 1.1330 level, key support is found at the 1.130 1and 1.1225 levels. If the EURUSD pair moves above the 1.1380 level, buyers are likely to test towards the 1.1431 and 1.1500 resistance levels.
by OctaFX_Official
GBPUSD BUYERS BACK IN CONTROL ABOVE 1.2785The British pound has moved sharply higher against the US dollar after news that the UK has struck a Brexit deal with the EU over the financial services industry. The GBPUSD pair has an intraday bullish bias while trading above the 1.2785 level and is now supported by rising MACD and Momentum indicators. The Bank of England interest rate decision later today is the key risk-event for sterling on Thursday. The GBPUSD pair is intraday bullish while trading above the 1.2785 level, key resistance is now found at the 1.2850 and 1.2930 levels. If the GBPUSD pair moves below the 1.2785 level, sellers may test towards the 1.2730 and 1.2700 support levels.
by OctaFX_Official
BTCUSD SELLERS LOSING BEARISH MOMENTUMBitcoin is starting to lose bearish momentum after short-term sellers failed to keep price below the symmetrical triangle pattern on the four-hour and daily time frames. Sellers need to break the $6,160 level to accelerate downside pressures, while buyers need to move price above the upper trendline, at $6,480. Overall, caution is advised until a clear technical break of the $6,030 to $6,730 price range has occurred. The BTCUSD pair is only intraday bearish while trading below the $6,160 level, key support remains at the $6,030 and $5,800 levels. If the BTCUSD pair trades above the $6,480 level, buyers are likely to test towards the $6,550 and $6,730 resistance levels.
BITFINEX:BTCUSD
by OctaFX_Official
USDJPY STRONGLY BULLISH ABOVE 112.87The US dollar has moved above the 113.00 resistance against the Japanese yen currency after buyers performed a key technical breakout above the 112.87 level. The USDJPY pair now has a strong intraday bullish bias and is supported by overall US dollar strength. Buyers need to break the 113.30 resistance level for further bullish advancement, while sellers need to push price below the 112.87 level. The USDJPY pair is strongly bullish while trading above the 112.87 level, key resistance is now found at the 113.30 and 113.80 levels. If the USDJPY pair trades below the 113.00 level, sellers are likely to test the 112.87 and 112.45 support levels.
by OctaFX_Official
GBPUSD 2018 TRADING LOW IN FOCUSThe British pound is testing towards the 1.2700 support level against the US dollar following Tuesday’s bearish technical break below the 1.2785 level. The pairs 2018 trading low, at 1.2861, is now in focus with a move below this key level likely to expose the GBPUSD pair to losses towards the 1.2550 level. Buyers need to move price above the 1.2730 level to negate immediate selling pressures. The GBPUSD pair is strongly bearish while trading below the 1.2785 level, key support is now found at the 1.2700 and 1.2661 levels. If the GBPUSD pair moves above the 1.2730 level, buyers may test towards the 1.2785 and 1.2820 resistance levels.
by OctaFX_Official