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Octafx

BTCUSD AWAITING CLEAR RANGE BREAKThe BTCUSD pair is once again consolidating mid-range as buyers and sellers struggle for directional control of the number one cryptocurrency by market capitalization. Trading volumes remain low, and the MACD and Momentum indicators continue to point to tight range-bound trading conditions. Overall, buyers need to break the $6,730 level while sellers need to break the $6,260 level. The BTCUSD pair is only bullish while trading above the $6,730 level, key technical resistance is found at the $6,838 and $7,000 levels. If the BTCUSD pair trades below the $6,260 level, further losses towards the $6,050 and $5,705 levels remains possible.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD AWAITING PAYROLLS DATAThe euro is trading close to the 1.1500 level against the US dollar, as price consolidates ahead of the US Nonfarm payrolls job report for the month of September. The EURUSD pair had started to correct above the 1.1500 level, although the move higher was quickly sold as buyers lost momentum around the 1.1540 region. Sellers need to break the 1.1463 support level while buyers need to move price above the 1.1553 resistance level. The EURUSD pair remains bearish while trading below the 1.1500 level, key technical support is now found at the 1.1463 and 1.1405 levels. If the EURUSD buyers move price above the 1.1553 level, key resistance is then found at the 1.1600 and 1.1650 levels.
by OctaFX_Official
GBPUSD POSSIBLE INVERTED HEAD AND SHOULDERSThe British pound has performed a much needed technical correction higher against the US dollar, as the pair moves away from oversold trading conditions in the short-term. The GBPUSD pair remains vulnerable to further losses, although a potential bullish head and shoulders pattern may be forming if the current monthly trading low holds. The GBPUSD pair retains an intraday bullish bias while trading above the 1.3000 level, key resistance is found at the 1.3046 and 1.3117 levels. If the GBPUSD pair trades below the 1.3000 level, key technical support is found at the 1.2939 and 1.2919 levels.
by OctaFX_Official
LTCUSD UNDER DOWNSIDE PRESSURELitecoin is starting to come under downside pressure after sellers forced price below the well-defined bear flag pattern. The LTCUSD pair also trades within a larger head and shoulders pattern, with the bearish pattern holding a $20.00 projected move. Intraday sellers will likely target the further losses below the $55.00 level, while buyers need to move price above the $60.50 resistance level. The LTCUSD pair is bearish while trading below the $60.50 level, key support is found at the $55.00 and $48.00 levels seems possible. If the LTCUSD pair moves above the $60.50 level, key resistance is found at the $64.00 and $68.50 levels.
BITFINEX:LTCUSD
by OctaFX_Official
3
USDJPY STRONGLY BULLISH ABOVE 114.06The US dollar has surged above the 114.00 level against the Japanese yen after the greenback firmed following hawkish comments from Federal Reserve Chair Jerome Powell. The USDJPY pair is strongly bullish while trading above the 114.06 level and may gain further due to bullish fundamentals and technicals. Buyers will likely target the 115.00 level while sellers will attempt to move price below the 114.06 level. The USDJPY pair is strongly bullish while trading above the 114.06 level, key resistance is now found at the 114.55 and 115.00 levels. If the USDJPY pair moves below the 114.06 level, key support is found at the 113.80 and 113.51 levels.
by OctaFX_Official
EURUSD STRONGLY BEARISH BELOW 1.1500The euro has tumbled below the 1.1500 level against greenback after Federal Reserve Chair Jerome Powell delivered a bullish speech on the US economy and future rate hikes on Wednesday. The MACD indicator is trending lower on the daily time frame, suggesting that the EURUSD pair may still see further losses ahead. Sellers will look to target the 1.1425 level, while buyers will aim to close the day above the 1.1553 resistance level. The EURUSD pair is strong bearish while trading below the 1.1500 level, key support is now found at the 1.1425 and 1.1390 levels. If the EURUSD pair trades above the 1.1500 level, key technical resistance is located at the 1.1553 and 1.1600 levels.
by OctaFX_Official
ETHUSD AWAITING CLEAR TRIANGLE BREAKEthereum continues to trade in a narrow range with price remaining trapped inside a well-defined symmetrical triangle pattern. Sellers failed to break to the downside yesterday, we may now see buyers trying to break the upper trendline of the neutral pattern. The triangle pattern holds a projection of around $60.00 and will likely trigger the next directional move in the ETHUSD pair. The ETHUSD pair is only bullish while trading above the triangle pattern, key resistance is found at the $242.00 and $274.00 levels. If the ETHUSD pair trades below the triangle pattern, sellers are likely to target the $183.00 and $158.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD AWAITING SERVICES DATAThe British pound continues to trade well under the 1.3000 level against the US dollar, as Brexit and UK political uncertainty keep sterling under downside selling pressure. Sellers will look to break the 1.2940 level, while buyers need to reclaim the 1.3000 level. Traders await key September PMI services data from the United Kingdom economy this morning, with expectations tilted to the downside. The GBPUSD pair is strongly bearish while trading below the 1.3000 level, key support is found at the 1.2940 and 1.2860 levels. If the GBPUSD pair trades above 1.3000 level, further upside towards the 1.3020 and 1.3054 resistance levels remains possible.
by OctaFX_Official
EURUSD INTRADAY BULLISH ABOVE 1.1600The euro currency is trying to regain upside momentum against the US dollar after sellers failed to break the psychological 1.1500 support level on Tuesday. The EURUSD pair is also trading higher on positive news over the Italian budget and has an intraday bullish bias while trading above the 1.1600 level. Buyers will look to the target the 1.1650 level, while sellers attempt to move price below the 1.1553 level. The EURUSD pair is only bullish while trading above the 1.1600 level, key resistance is now found at the 1.1625 and 1.1650 levels. If the EURUSD pair holds below the 1.1600 level, key technical support is located at the 1.1553 and 1.1500 levels.
by OctaFX_Official
BTCUSD STARTING TO TEST BELOW $6,500Bitcoin is starting to trade lower alongside the broader cryptocurrency market on Wednesday, with price touching a fresh monthly low. The BTCUSD pair is starting to build downside momentum, a break below the trendline on the momentum indicator could provide the catalyst for the next round of technical selling. Overall, with the BTCUSD pair remains bearish and trading inside head and shoulders patterns across smaller and larger time frames. The BTCUSD pair is only bullish while trading above the $6,550 level, key short-term technical resistance remains at the $6,730 and $6,838 levels. If the BTCUSD pair continues to trade under the $6,500 level, further losses towards the $6,290 and $6,050 levels remains possible.
BITFINEX:BTCUSD
by OctaFX_Official
ETHUSD HOLDING TRENDLINE SUPPORTEthereum continues to struggle for direction, as the second largest cryptocurrency by market capitalizations remains trapped in a narrow trading range. Sellers need to clearly break trendline support around the $210.00 level, while buyers need to move price above the $242.00 resistance level. The bearish head and shoulders pattern still remains valid and holds a $90.00 downside projection. The ETHUSD pair is only bullish while trading above the $210.00 level, key resistance is found at the $242.00 and $260.00 levels. If the ETHUSD pair trades below the $210.00 level, sellers are likely to test towards the $200.00 and $183.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD AWAITING BREXIT NEWS AND UK DATAThe British pound is trading back towards the worst levels of the week against the US dollar, despite a short-lived move above the 1.3100 level on Monday over the positive Brexit news. The GBPUSD pair is awaiting a clear technical break, sellers need to move price below the 1.3000 level, while buyers need to hold price above the 1.3082 resistance level. Traders also remain cautious as the United Kingdom economy releases key PMI construction data later this morning. The GBPUSD pair is only intraday bullish while trading above the 1.3082 level, key resistance is now found at the 1.3117 and 1.3164 levels. If the GBPUSD pair trades below 1.3000 level, further losses towards the 1.2966 and 1.2920 support levels seem likely.
by OctaFX_Official
EURUSD BACK UNDER PRESSUREThe euro currency is back under pressure against the greenback on Tuesday, as better than expected US economic data and rising Italian bond-yields push the pair lower. A clear break below the 1.1553 support level should encourage technical selling towards the 1.1500 level. EURUSD buyers need to force price above the 1.1600 resistance level and break the former daily high to change the bearish sentiment towards the pair. The EURUSD pair is strongly bearish while trading below the 1.1553 level, key support is now found at the 1.1500 and 1.1470 levels. If the EURUSD pair moves above the 1.1600 level, key technical resistance is located at the 1.1624 and 1.1665.
by OctaFX_Official
5
GBPUSD INTRADAY BEARISH BELOW 1.3054The British pound remains under downside pressure against the greenback on the first trading day of the month, with ongoing Brexit concerns and US dollar strength weighing on sterling. Sellers continue to look for a sustained break of the 1.3000 level, while buyers need to stabilize price above the 1.3054 level. Traders now await the release of the UK Manufacturing PMI for the month of September, with expectation tilted to the upside. The GBPUSD pair is strongly bearish while trading below the 1.3000 level, key support is found at the 1.2972 and 1.2919 levels. If the GBPUSD pair moves above the 1.3054 level, we may see a correction towards the 1.3094 and 1.3120 levels.
by OctaFX_Official
LTCUSD SHORT TERM BEAR FLAG IN PLAYLitecoin is starting to trade below key technical support in early-week trading after the seventh largest cryptocurrency by market capitalization was strongly rejected from the $64.50 level last week. Overall, further moves to the downside are still expected while the LTCUSD pair trades inside the well-defined bear flag pattern. Sellers will look for a clear break of the $56.00 level, while buyers need to move price above the former weekly high. The LTCUSD pair is bearish while trading below the $61.00 level, key support is found at the $56.00 and $53.00 levels seems possible. If the LTCUSD pair moves above the $61.00 level, key resistance is then found at the $63.00 and $64.50 levels.
BITFINEX:LTCUSD
by OctaFX_Official
2
USDJPY WATCHING BEARISH DIVERGENCEThe US dollar continues to trade towards the 114.00 level against the Japanese yen as the US dollar index climbs towards it’s highest trading level in nearly three weeks. Bearish MACD divergence can be seen on the lower time frames as the USDJPY pair starts to move into overbought territory. Buyers will likely aim for the 114.43 level, while sellers will look for signs of price exhaustion at current levels. The USDJPY pair is bullish while trading above the 113.17 level, key resistance is now found at the 114.00 and 114.43 levels. If the USDJPY pair moves below the 113.17 level, key support is found at the 112.92 and 112.56 levels.
by OctaFX_Official
USDJPY COULD SOON TEST 114.10 LEVELThe US dollar has moved to a fresh 2018 trading high against the Japanese yen currency, as the greenback strengthens across the board. Buyers have now broken above the 113.17 level, triggering the bullish inverted head and shoulder pattern with a two hundred pip upside projection. Given the bullish price-action, the USDJPY pair could soon test towards the 114.10 level. The USDJPY pair is strongly bullish while trading above the 113.17 level, key resistance is now found at the 113.80 and 114.10 levels. If the USDJPY pair moves below the 113.17 level, key support is found at the 113.00 and 112.70 levels.
by OctaFX_Official
EURUSD STRONGLY BEARISH BELOW 1.1650The euro remains under heavy downside pressure against the greenback, amidst US dollar strength and financial market concerns about the Italian government larger than expected budget plan. The EURUSD pair has now broken below the 1.1650 level, turning the short and medium-term trend to bearish. Sellers will likely target the 1.1553 level while buyers need to stabilize price above the 1.1650 level. The EURUSD pair is strongly bearish while trading below the 1.1650 level, key support is now found at the 1.1600 and 1.1553 levels. If the EURUSD pair moves above the 1.1650 level, price may correct back towards the 1.1680 and 1.1714 resistance levels.
by OctaFX_Official
ETHUSD PRICE ACTION REMAINS WEAKEthereum has started to move higher alongside the broader cryptocurrency market on Friday, although the ETHUSD pair continues to struggle to move away from the $215.00 support level. Price-action also remains weak on the ETHUSD pair, with a potential bearish head and shoulders pattern still looming over the second largest cryptocurrency in the short-term. The ETHUSD pair is only bullish while trading above the $215.00 level, key resistance is found at the $242.00 and $253.00 levels. If the ETHUSD pair trades below the $215.00 level, sellers will once again test towards the $200.00 and $183.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD HITS BULLISH UPSIDE TARGETThe British pound is starting come back under selling pressure against the greenback on Thursday, after briefly moving above the 1.3200 level following the FOMC rate decision. The GBPUSD pair may now start to trade back towards the 1.3113 level, after hitting its upside bullish target above the 1.3200 level. Sellers now need to break the 1.3096 level, while buyers need to stabilize price above the 1.3170 level. The GBPUSD pair is only bullish while trading below the 1.3113 level, key resistance is now found at the 1.3170 and 1.3220 levels. If the GBPUSD pair moves below the 1.3113 level sellers are likely to test towards the 1.3096 and 1.3053 levels.
by OctaFX_Official
EURUSD BULLS LOSING MOMENTUMThe euro is starting to lose bullish momentum against the US dollar after the pair once again failed to break the 1.1800 level after the FOMC interest rate decision and policy statement. The EURUSD pair came under pressure after Federal Reserve Chair Jerome Powell struck a hawkish tone towards future rate increases during his scheduled press conference. Sellers need to break the 1.1730 level, while buyers need to maintain price above the 1.1780 level. The EURUSD pair is bearish while trading below the 1.1730 level, key support is found at the 1.1700 and 1.1668 levels. If the EURUSD pair moves above the 1.1780 level, price may test towards the 1.1812 and 1.1850 resistance levels.
by OctaFX_Official
BTCUSD TESTING KEY RESISTANCEBitcoin is starting to move higher alongside the broader cryptocurrency after the bullish fundamental news that Google have removed an advertising ban on regulated cryptocurrencies cryptocurrency exchanges in the US and Japan. Buyers will need to hold price above the $6,500 to regain short-term control of the number one cryptocurrency. The bearish head and shoulders pattern across the lower time frames still remains valid at current level. The BTCUSD pair is only bullish while trading above the $6,500 level, key resistance is located at the $6,730 and $6,838 levels. If the BTCUSD pair continues to trade under the $6,500 level, key support is found at the $6,250 and $6,050 levels.
BITFINEX:BTCUSD
by OctaFX_Official
1
LTCUSD BEARISH BELOW TREND LINE SUPPORTLitecoin remains range bound on Wednesday with the sentiment towards cryptocurrencies fragile after the broader cryptocurrency market suffered two days of losses. The LTCUSD pair will likely experience more losses below the $53.50 level if price moves below key trend line support. The MACD indicator across the one-hour time frame is getting ready for its next directional move. The LTCUSD pair is bearish while trading below the $53.50 level, key support is then found at the $48.90 and $45.50 levels. If the LTCUSD pair continues to trade above the $53.50 level, buyers may test towards the $58.50 and $62.00 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official