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Octafx

USDJPY WATCHING 112.87 RESISTANCE LEVELThe US dollar has soared higher against the Japanese yen currency, following bullish comments from US President Donald Trump over a potential trade deal with China. The USDJPY pair is bullish while trading above the 112.45 level and may accelerate intraday gains if the 112.87 resistance level is breached. The Moving Average Convergence Divergence indicator on the four-hour time frame has also started to trend higher. The USDJPY pair is bullish while trading above the 112.45 level, key resistance is now found at the 112.87 and 113.30 levels. If the USDJPY pair trades below the 112.45 level, sellers will likely test key trendline support, at the 112.04 level.
by OctaFX_Official
LTCUSD FINALLY BREAKS TO THE DOWNSIDEThe LTCUSD pair has finally picked a directional bias and moved to the downside, with the seventh largest cryptocurrency so far finding technical support just above the $46.00 level. The broader cryptocurrency is also moving lower while the MACD indicator on the four-hour time frame is also trending lower. Further intraday losses are likely while the LTCUSD pair trades below the former monthly low found at the $48.50 resistance level. The LTCUSD pair is strongly intraday bearish while trading below the $48.50 level, key technical support is now found at the $45.00 and $42.00 levels. If the LTCUSD pair trades above the $48.50 level, intraday buyers may test towards the $50.00 and $52.50 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD PROBING KEY TECHNICAL SUPPORTThe British pound is once again testing the 1.2800 support level against the US dollar after buyers failed around the 1.2840 level on Monday. Sellers are likely to test towards the former weekly low, at 1.2785, while buyers need to move price above the 1.2866 resistance level. The RSI and MACD indicator shows that the GBPUSD pair remains extremely oversold on the four-hour time frame. The GBPUSD pair is strongly bearish while trading below the 1.2800 level, key support is found at the 1.2785 and 1.2730 levels. If the GBPUSD pair moves above the 1.2840 level, buyers will likely test towards the 1.2866 and 1.2921 resistance levels.
by OctaFX_Official
USDJPY INTRADAY BEARISH BELOW TRENDLINEThe US dollar is attempting to correct higher against the Japanese yen currency in early Monday trade after falling below trendline support. The USDJPY pair fell towards the 111.35 level after the key technical break and remains intraday bearish while trading below the 112.00 level. Traders now look Core PCE data from the US economy later today, which is the Federal Reserve’s preferred measure of inflation. The USDJPY pair is strong bearish while trading below the 112.00 level, key support is now found at the 111.35 and 110.90 levels. If the USDJPY pair trades above the 112.00 level, buyers will likely test the 112.18 and 112.45 resistance levels.
by OctaFX_Official
EURUSD MAY TEST 1.1431 LEVELThe euro currency is testing towards the 1.1450 resistance level against the US dollar after sellers failed to break below the key 1.1300 level on Friday. Indicators are now starting to turning higher, hinting that the EURUSD pair may once again test toward the 1.1431 resistance level. Sellers need to break the 1.1340 level while buyers need to move price above the 1.1400 level to build bullish momentum. The EURUSD pair is strongly bearish while trading below the 1.1400 level, key technical support is found at the 1.1340 and 1.1300 levels. If the EURUSD pair moves above the 1.1400 level, key intraday resistance is found at the 1.1431 and 1.1480 levels.
by OctaFX_Official
BTCUSD BEARISH BELOW 50 DAY MOVING AVERAGEBitcoin has opened the new trading week largely unchanged, with the number one cryptocurrency experiencing low levels of volatility not seen since March 2017. Despite the lengthy period of price consolidation, the medium-term bias for the BTCUSD pair is likely to remain to the downside while price trades below its 50-day moving average. The symmetrical triangle pattern on the daily time frame best illustrates the technical break needed to encourage short-term directional traders. The BTCUSD pair is only bearish while trading below the $6,280 level, key support remains at the $6,050 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
GBPUSD WATCHING 1.2785 SUPPORT LEVELThe British pound has slumped towards the 1.2800 level against the greenback after a fresh round of US dollar strength and bearish Brexit headlines. A clear break below the 1.2785 support level will likely accelerate the GBPUSD pairs downside towards the 1.2700 support level. Sterling buyers need to move price above the 1.2866 resistance level to negate intraday selling pressures. The GBPUSD pair is strongly bearish while trading below the 1.2800 level, key support is now found at the 1.2785 and 1.2700 levels. If the GBPUSD pair moves above the 1.2866 level, buyers will likely test towards the 1.2900 and 1.2921 resistance levels.
by OctaFX_Official
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EURUSD HEAVY LOSSES EXPECTED BELOW 1.1300The euro has continued to move lower against the US dollar after ECB President Mario Draghi struck a dovish tone during yesterday’s ECB policy meeting. Technically, a clear break below the 1.1300 support level exposes the EURUSD pair to further downside towards at least the 1.1220 level. Intraday selling pressure is expected to remain intact while price trades below the 1.1400 level. The EURUSD pair is strongly bearish while trading below the 1.1400 level, key support is found at the 1.1360 and 1.1300 levels. If the EURUSD pair moves above the 1.1400 level, key intraday resistance is found at the 1.1431 and 1.1500 levels.
by OctaFX_Official
ETHUSD PRICE RANGE NARROWSEthereum continues to trade below the $200.00 support level, with the recent price range of the ETHUSD pair narrowing to just $10.00. The well-defined triangle pattern indicates that a projected $80.00 move may occur once a clear technical happens. Sellers will likely attempt a downside break of the $190.00 support level, while buyers need to move price the $200.00 resistance level. The ETHUSD pair is only intraday bullish while trading above the $200.00 level, key resistance is found at the $225.00 and $250.00 levels. If the ETHUSD pair trades below the $190.00 level, sellers may test towards the $180.00 and $158.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD STILL BEARISH BELOW 1.1431 LEVELThe euro is holding around the 1.1400 level against the US dollar in early Thursday trade after finding interim technical support from the 1.1380 level. The EURUSD pair retains an intraday bearish bias while trading below the 1.1431 resistance level. Price still trades below the neckline of a bearish head and shoulders pattern, ahead of the release of key IFO data from the German economy. The EURUSD pair is strongly bearish while trading below the 1.1431 level, key technical support is found at the 1.1380 and 1.1300 levels. If the EURUSD pair moves above the 1.1431 level, key intraday resistance is found at the 1.1465 and 1.1510 levels.
by OctaFX_Official
GBPUSD STRONGLY BEARISH BELOW 1.2921The British pound is under heavy downside pressure against the US dollar after sellers broke the neckline of a large head and shoulders pattern. The GBPUSD is strongly intraday bearish below the 1.2921 level with sterling now at risk of moving towards the 2018 trading low. Sellers will attempt to break below the 1.2880 level, while buyers need to move price back above neckline resistance. The GBPUSD pair is strongly bearish while trading below the 1.2921 level, key support is now found at the 1.2880 and 1.2780 levels. If the GBPUSD pair moves above the 1.2921 level, buyers will likely test towards the 1.3000 and 1.3045 resistance levels.
by OctaFX_Official
BTCUSD PROBING DOWNSIDE SUPPORTBitcoin is starting to probe towards short-term technical support after buyers failed to make gains above the $6,400 level. The world’s number one cryptocurrency by market capitalization has been in an extended period of price consolidation since October 15th. Intraday BTCUSD sellers will attempt to break the $6,320 level, while buyers will try to move price above the current weekly high. The BTCUSD pair is only bearish while trading below the $6,320 level, key support remains at the $6,220 and $6,050 levels. If the BTCUSD pair trades above the $6,450 level, buyers are likely to test towards the $6,550 and $6,700 resistance levels.
BITFINEX:BTCUSD
by OctaFX_Official
GBPUSD BEARISH PATTERN FORMINGThe British pound is once again probing the downside against the US dollar after a minor bullish corrective move above the 1.3000 level on Tuesday. The GBPUSD pair is looking increasingly bearish as a head and shoulders pattern is now starting to form across the four-hour time frame. Sellers will likely target the 1.2918 level, while buyers will aim to move price above the 1.3000 level. The GBPUSD pair remains strongly bearish while trading below the 1.3000 level, key support is found at the 1.2918 and 1.2860 levels. If the GBPUSD pair moves above the 1.3000 level, buyers are likely to test the 1.3045 and 1.3080 resistance levels.
by OctaFX_Official
EURUSD STILL STRUGGLING WITH 1.1480 LEVELThe euro continues to struggle to build upside momentum against the US dollar, with the 1.1480 resistance level remaining a technical barrier for buyers. The EURUSD pair is now forming smaller and larger head and shoulders patterns across the lower time frames. Intraday EURUSD traders still await a sustained directional breakout from the 1.1431 to 1.1480 price range. The EURUSD pair remains intraday bearish while trading below the 1.1480 level, key technical support is found at the 1.1431 and 1.1380 levels. If the EURUSD pair trades above the 1.1480 level, key intraday resistance is found at the 1.1500 and 1.1550 levels.
by OctaFX_Official
ETHUSD AWAITS CLEAR PATTERN BREAKEthereum is trading inside a neutral symmetrical triangle pattern, as second largest cryptocurrency struggles find a directional bias. Indicators are currently trading flat for the ETHUSD pair, with the broader cryptocurrency market largely in a sustained period of consolidation. Sellers will attempt to break the $185.00 support level, while buyers need to move price above the $207.00 level. The ETHUSD pair is only intraday bullish while trading above the $207.00 level, key resistance is found at the $225.00 and $250.00 levels. If the ETHUSD pair trades below the $185.00 level, sellers may test towards the $170.00 and $158.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD TESTING FORMER WEEKLY LOWThe British pound is testing towards the 1.2960 support level against the US dollar after bearish Brexit news caused a sharp price reversal in the GBPUSD pair on Monday. A strong break below the 1.2960 level exposes further intraday downside towards the 1.2900 support level. Sellers are also close to negating the bullish inverted head and shoulders pattern across the lower time frames. The GBPUSD pair is strongly bearish while trading below the 1.2960 level, key support is now found at the 1.2918 and 1.2885 levels. If the GBPUSD pair moves above the 1.3000 level, buyers are likely to test the 1.3055 and 1.3080 resistance levels.
by OctaFX_Official
EURUSD CLOSELY WATCHING 1.1431 LEVELThe euro currency is back under strong downside pressure against the US dollar, with price now trading closer to key weekly support. A successful break below the 1.1431 support level is likely to accelerate EURUSD technical selling, breaking the recent bullish double-bottom. A break below the 1.1431 level could also trigger a bearish head and shoulders pattern with a sizeable downside projection. The EURUSD pair is strongly bearish while trading below the 1.1480 level, key support is now found at the 1.1431 and 1.1380 levels. If the EURUSD pair trades above the 1.1480 level, key intraday resistance is found at the 1.1500 and 1.1550 levels.
by OctaFX_Official
BTCUSD TRADERS STILL PLAYING THE RANGEBitcoin has opened the new trading week largely unchanged, with the world’s number one cryptocurrency continuing to experience record low levels of trading activity. The BTCUSD pair is trading between the $6,450 and $6,300 levels, as price remains range bound in the short-term. A breach of the $6,450 exposes further upside to at least the $6,550 level, while a move below the $6,320 may support selling towards the $6,225 level. The BTCUSD pair is only bullish while trading above the $6,450 level, key resistance remains at the $6,550 and $6,730 levels. If the BTCUSD pair trades below the $6,320 level, sellers are likely to test towards the $6,220 and $6,100 support levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD DOUBLE BOTTOM WORKINGThe euro currency has started to recover above the 1.1500 resistance level against the US dollar after sellers failed to move price below the 1.1431 support level, creating a bullish double-bottom pattern. The EURUSD pair has an intraday bullish bias while trading above the 1.1500 level, although buyers need to quickly move price above the 1.1553 level to negate bearish pressures. The EURUSD pair is intraday bullish while trading below the 1.1500 level, key resistance is now found at the 1.1530 and 1.1553 levels. If the EURUSD pair trades below the 1.1500 level, key intraday support is found at the 1.1480 and 1.1431 levels.
by OctaFX_Official
GBPUSD INTRADAY BEARISH BIASThe British pound remains under downside pressure against the US dollar, as Brexit uncertainty continues to support short-term sterling selling. The GBPUSD pair is intraday bearish while trading below the 1.3100 level, although caution is warranted as the MACD indicator on the four-hour time frame is starting to recover higher. Sellers need to break the former weekly-low, while buyers need to move price above the 1.3100 resistance level. The GBPUSD pair is bearish while trading below the 1.3100 level, key support is now found at the 1.3050 and 1.3018 levels. If the GBPUSD pair moves above the 1.3100 level, buyers are likely to test the 1.3155 and 1.3200 resistance levels.
by OctaFX_Official
GBPUSD BEARISH PATTERN IN PLAYThe British pound has broken sharply to the downside against the US dollar, after Brexit negotiations between the UK and EU once again ended in uncertainty. The GBPUSD pair has now moved below the neckline of a bearish head and shoulders pattern, with a downside projection of over two hundred points. Buyers now need to defend the 1.3000 support level or risk further intraday losses towards the 1.2940 level. The GBPUSD pair is strongly intraday bearish while trading below the 1.3080 level, key support is found at the 1.3000 and 1.2940 levels. If the GBPUSD pair moves above the 1.3080 level, key intraday resistance is then found at the 1.3100 and 1.3130 levels.
by OctaFX_Official
EURUSD TESTING TOWARDS MONTHLY LOWThe euro remains under heavy selling pressure against the greenback in early Friday trade, as the US dollar index climbs back towards the 96.00 resistance level. The EURUSD pair is fast approaching the current monthly low, with a break below the 1.1431 level likely to expose further downside towards the 1.1410 support level. Buyers will likely attempt to defend the 1.1431 support level and force price back above the 1.1480 level. The EURUSD pair is strongly bearish while trading below the 1.1480 level, key support is now found at the 1.1431 and 1.1410 levels. If the EURUSD pair trades above the 1.1480 level, key intraday resistance is found at the 1.1500 and 1.1518 levels.
by OctaFX_Official
ETHUSD BACK UNDER PRESSURE BELOW $200.00Ethereum continues to erase early week gains, with the second largest cryptocurrency by market capitalization once again trading below the $200.00 support level. The broader cryptocurrency market is also under mild selling pressure on Friday amidst record low volatility. Sellers will likely target the $182.00 support level to accelerate ETHUSD losses, while intraday buyers need to stabilize price above the $200.00 resistance level. The ETHUSD pair is bearish while trading below the $200.00 level, key support is found at the $180.00 and $175.00 levels. If the ETHUSD pair trades above the $200.00 level, key resistance is then found at the $215.00 and $224.00 levels.
BITFINEX:ETHUSD
by OctaFX_Official