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Octafx

EURUSD TRIANGLE BREAKOUT AHEADThe euro remains well supported against the US dollar, with traders still using any pullbacks in price to buy the single currency. Buyers need to break the upside of the symmetrical triangle pattern to keep the recent bullish momentum alive, while sellers need to force price below the triangle pattern. Trading ranges may start to narrow as market participants are likely to remain cautious ahead of today’s FOMC interest rate decision. The EURUSD pair is intraday bullish while trading above the 1.1730 level, key resistance is found at the 1.1812 and 1.1850 levels. If the EURUSD pair moves below the 1.1730 level, price may decline towards the 1.1700 and 1.1650 support levels.
by OctaFX_Official
ETHUSD COULD BE FORMING A HEAD AND SHOULDERS PATTERNEthereum is starting to lose short-term bullish momentum after the ETHUSD pair found strong technical resistance from the $240.00 level. Ethereum has reclaimed its place as the second largest cryptocurrency after its nearest rival Ripple suffered double-digit losses on Monday. If price continues to move lower the ETHUSD pair will start to create a bearish head and shoulders pattern. The ETHUSD pair is only bullish while trading above the $215.00 level, key resistance is found at the $240.00 and $255.00 levels. If the ETHUSD pair trades below the $215.00 level, sellers may test towards the $183.00 and $157.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD CONTINUES TO STRUGGLE WITH THE 1.1800 HANDLEThe euro is once at risk of losing its short-term bullish bias against the US dollar after the EURUSD pair was strongly rejected from the 1.1812 level on Monday. The EURUSD only retains its bullish bias while trading above the 1.1730 level, with the single currency now failing on two separate occasions to hold price above the 1.1800 resistance level. The EURUSD pair is only intraday bullish while trading above the 1.1730 level, key resistance remains at the 1.1770 and 1.1812 levels. If the EURUSD pair moves below the 1.1730 level, key support is then found at 1.1700 and 1.1650 levels.
by OctaFX_Official
GBPUSD SELLERS NEED TO BREAK 1.3100 LEVELThe British pound has moved back towards the 1.3100 support level against the US dollar after sterling found strong technical resistance from the 1.3160 region on Monday. The recent upside correction may be over if sellers can keep price below the pivotal 1.3113 level. With the lack of economic data today, Brexit news and moves in the U.S. Dollar Index are the key factors driving the GBPUSD pair. The GBPUSD pair is only bearish while trading below the 1.3113 level, key support is found at the 1.3070 and 1.3030 levels. If the GBPUSD pair holds above the 1.3113 level, buyers may force price towards the 1.3165 and 1.3200 levels.
by OctaFX_Official
GBPUSD INTRADAY BEARISH BELOW 1.3113 LEVELThe British pound is back under downside pressure against the US, after the chances of the United Kingdom leaving the EU without a deal in place dramatically increased after British PM Theresa May’s speech on Friday. The GBPUSD pair is intraday bearish while trading below the 1.3113 level, the MACD indicator is also now trending lower across the four-hour and daily time frames. The GBPUSD pair is only bullish while trading above the 1.3113 level, key resistance is then found at the 1.3200 and 1.3255 levels. If the GBPUSD pair continues to trade below 1.3113 level, further losses towards the 1.3000 and 1.2925 levels remains possible.
by OctaFX_Official
EURUSD ONLY INTRADAY BULLISH ABOVE 1.1730The euro continues to move away from the 1.1800 level against the US dollar after the single currency fell over concerns that the United Kingdom may leave the European Union without a deal. The EURUSD pair is only intraday bullish while trading above the 1.1730 support level, as it represents a key pivot point and the upside technical breakout area from the previous trading week. The EURUSD pair is only bullish while trading above the 1.1730 level, key resistance is found at the 1.1770 and 1.1802 levels. If the EURUSD pair moves below the 1.1730 level, key support is then found at 1.1700 and 1.1650 levels.
by OctaFX_Official
BTCUSD ONLY BULLISH ABOVE $6,500Bitcoin is trading higher alongside the broader cryptocurrency market after the US SEC once again delayed their ruling over a potential Bitcoin ETF. Short-term buyers are now in control of the world’s number crypto while price trades above the $6,500 level. Buyers need to break the $6,700 resistance level in order to keep the recent bullish momentum, while sellers need to push the BTCUSD pair under the $6,500 level once again. The BTCUSD pair is bullish while trading above the $6,500 level, key resistance is located at the $6,830 and $6,920 levels. If the BTCUSD pair moves under the $6,500 level, key support is found at the $6,350 and $6,100 levels.
BITFINEX:BTCUSD
by OctaFX_Official
ETHUSD AWAITING TRIANGLE PATTERN BREAKEthereum is trapped in a tight range on Friday with market participants awaiting a spike in cryptocurrency trading volumes. The ETHUSD pair is trading within an ascending triangle pattern on the four-hour time frame, with the bullish pattern showing a $30.00 projection. Buyers need to clearly break the $220.00 resistance level while sellers need to cleanly break the 192.00 support level. The ETHUSD pair is only bullish while trading above the $220.00 level, key resistance is found at the $240.00 and $255.00 levels. If the ETHUSD pair moves below the $192.00 level, sellers may test towards the $183.00 and $168.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD NOW BULLISH ABOVE 1.1730 LEVELThe euro has performed a major technical breakout against the US dollar, with buyers finally breaking through the 1.1730 resistance level. Further upside gains remain likely while price trades above the 1.1730 level, with the 1.1800 level the next major technical hurdle for euro buyers. The bullish inverted head and shoulders pattern has been triggered, with an upside projection that would take the EURUSD close to the 1.1950 level. The EURUSD pair strongly bullish while trading above the 1.1730 level, key resistance is found at the 1.1800 and 1.1850 levels. If the EURUSD pair moves below the 1.1730 level, key support is found at 1.1700 and 1.1650 levels.
by OctaFX_Official
GBPUSD SHORT TERM BULLISH TARGET REACHEDThe British pound has moved to its highest trading level against the greenback since July 16th, hitting 1.3297, as the US dollar tumbles across the board. The GBPUSD pair has now pulled back slightly after reaching the initial upside target of the lower time frame inverse head and should. Price-action still remains bullish, with price now trading above the neckline of a much larger bullish pattern. The GBPUSD pair is strongly bullish while trading above the 1.3205 level, key resistance is found at the 1.3300 and 1.3350 levels. If the GBPUSD pair moves below the 1.3205 level, key support is found at the 1.3170 and 1.3140 levels.
by OctaFX_Official
GBPUSD TRADERS AWAIT UK RETAIL SALES DATAThe British pound is trying to recover bullish momentum against the US dollar after price suddenly dipped below the 1.3100 level over negative Brexit headlines on Wednesday. Expectations for UK retail sales are tilted to the downside as UK consumer spending starts to normalize after the World Cup and hot summer. Buyers need to break to reclaim the 1.3205 level while sellers need hold price below the 1.3100 support level. The GBPUSD pair is only intraday bullish while trading above the 1.3140 level, key resistance is found at the 1.3212 and 1.3255 levels. If the GBPUSD pair moves below the 1.3100 level, key support is found at the 1.3060 and 1.3000 levels.
by OctaFX_Official
EURUSD RANGE BOUND TRADING PERSISTSThe euro currency is confined to range-bound trading conditions against the US dollar after buyers failed to break the 1.1730 resistance level for a fourth consecutive day. Sellers need to break the 1.1650 support level with conviction while buyers need to break the 1.1730 level. A bullish ascending triangle pattern has also now been formed across the lower time frames. The EURUSD pair only bullish while trading above the 1.1700 level, key resistance remains at the 1.1730 and 1.1750 levels. If the EURUSD pair moves below the 1.1650 level, key support is found at 1.1617 and 1.1600 levels.
by OctaFX_Official
BTCUSD BITCOIN PRICE ACTION TURNING BEARISHBitcoin is starting to come under pressure as the broader cryptocurrency market starts to erode earlier weekly gains. Sentiment remains fragile towards the BTCUSD pair, ahead of the upcoming decision from the US SEC over a potential Bitcoin ETF. Buyers need to move price above the $6,500 level to negate the bearish short-term pressure building on the BTCUSD pair. The BTCUSD pair is bearish while trading below the $6,500 level, key support is located at the $6,000 and $5,700 level If the BTCUSD pair moves back above the $6,500 level, key resistance found at the $6,700 and $6,830 levels.
BITFINEX:BTCUSD
by OctaFX_Official
ETHUSD ATTEMPTING TO RECOVER BULLISH MOMENTUMEthereum has once again moved above the psychological $200.00 level, after finding strong technical support from the $183.00 level on Monday. ETHUSD buyers now need to break the $225.00 level, while sellers need to create a fresh weekly trading low. It is worth noting that the ETHUSD pair recorded its largest buying volumes of the year last week, following the second largest cryptocurrencies decline to $158.00. The ETHUSD pair is only bullish while trading above the $200.00 level, key resistance is found at the $216.00 and $225.00 levels. If the ETHUSD pair moves below the $200.00 level, sellers may test towards the $183.00 and $170.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD UNDER PRESSURE AFTER TECHNICAL FAILUREThe euro currency has fallen from a three-week trading high against the US dollar after short-term buyers once again failed to break the 1.1730 resistance level. Rising US treasury-yields helped pushed the EURUSD pair lower, with the US ten-year bond yield rising to its highest trading level since May. Sellers will attempt to break the 1.1650 level while buyers need to push price above the 1.1700 resistance level. The EURUSD pair only bullish while trading above the 1.1650 level, key resistance remains at the 1.1730 and 1.1750 levels. If the EURUSD pair moves below the 1.1650 level, key support is found at 1.1628 and 1.1600 levels.
by OctaFX_Official
GBPUSD TRADERS AWAIT KEY UK INFLATION DATAThe British pound has pulled back from the 1.3170 level against the greenback, as traders book profits ahead of a raft of key UK data this morning. Sterling traders await the release of key inflation data from the United Kingdom economy, with expectations tilted to the upside. Buyers will attempt to move the GBPUSD pair towards the 1.3205 level, while sellers will try to move price below the 1.3100 level. The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3170 and 1.3205 levels. If the GBPUSD pair moves below the 1.3100 level, key support remains at the 1.3060 and 1.3000 levels.
by OctaFX_Official
EURUSD BUYERS NEED TO BREAK 1.1730 LEVELThe euro continues to hold around the 1.1700 level against the greenback, following a strong move lower in the US dollar on Monday after more weak economic data from the American economy. EURUSD buyers need to break the 1.1730 level in the short-term or face a further technical rejection back towards the 1.1650 level. Euro traders now await a scheduled speech from European Central Bank President Mario Draghi. The EURUSD pair is bullish while trading above the 1.1681 level, key resistance is found at the 1.1730 and 1.1750 levels. If the EURUSD pair moves below the 1.1681 level, key technical support is found at 1.1650 and 1.1617 levels.
by OctaFX_Official
GBPUSD BULLISH PATTERN CONTINUES TO WORKThe British pound has risen to its highest trading level in six-weeks against the US dollar after positive Brexit headlines, with EU officials noting that they have agreed to some parts of British PM Theresa May’s Chequers Deal. The bullish inverse head and shoulders pattern continues to unfold across the lower timeframes, with the full projection of the pattern extending towards the 1.3300 resistance level. The GBPUSD pair is strongly bullish while trading above the 1.3100 level, key resistance is found at the 1.3205 and 1.3300 levels. If the GBPUSD pair moves below the 1.3100 level, key support is now found at the 1.3060 and 1.3000 levels.
by OctaFX_Official
LTCUSD UNDER PRESSURE BELOW $50.00Litecoin is back under downside pressure beneath the $50.00 level on Tuesday after losing over five percent of its market value on Monday. LTCUSD buyers need to reclaim the $51.98 level to regain short-term bullish momentum, while sellers need to keep price below the psychological $50.00 level to ensure further losses. It is worth noting that the MACD indicator across the one-hour time frame is now in oversold territory and a bullish inverted head and shoulders pattern has been created across various lower time frames. The LTCUSD pair is intraday bearish while trading below the $50.00 level, key support is found at the $47.25 and $45.00 levels. If the LTCUSD pair trades above the $51.98 level, buyers may move price back towards the $54.50 and $57.00 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD STILL BULLISH ABOVE 1.2985 LEVELThe British pound is starting to weaken against the US dollar after buyers failed to maintain price above the 1.3100 level. Brexit headlines and the US dollar continue to drive the GBPUSD pair, with eurozone negotiators latest bearish comments about the Chequers Brexit deal pushing sterling lower. Buyers need to move the pair above the 1.3100 level once again, while sellers need to move price below the 1.2985 level. The GBPUSD pair is bullish while trading above the 1.2985 level, key resistance is found at the 1.3100 and 1.3145 levels. If the GBPUSD pair moves below the 1.2985 level, key support is found at the 1.2930 and 1.2856 levels.
by OctaFX_Official
EURUSD STARTING THE WEEK UNDER PRESSUREThe euro has started the new trading week under pressure against the greenback, following the heavy decline in the pair last Friday. The EURUSD pair remains short-term bullish while trading above the 1.1600 level with the inverted head and shoulders pattern still valid, despite the heavy technical rejection from the 1.1720 region. Sellers will attempt to break the 1.1577 support level, while buyers to attempt to break the neckline of the bullish pattern. The EURUSD pair remains bullish while trading above the 1.1600 level, key resistance is located at the 1.1730 and 1.1790 levels. If the EURUSD pair moves below the 1.1600 level, sellers are likely to test towards the 1.1577 and 1.1528 support levels.
by OctaFX_Official
BTCUSD BUYERS NEED TO BREAK $6,550 LEVELBitcoin is starting to lose bullish short-term momentum after last weeks upside recovery, with buyers continuing to struggle to break the key $6,550 level. The MACD indicator across the four-hour time frame is also starting to struggle to trend higher. Buyers need to break the $6,550 resistance level, while sellers will look to move price below the $6,400 support level. The BTCUSD pair is only bearish while trading below the $6,400 level, key support is located at the $6,150 and $6,000 levels. If the BTCUSD pair moves back above the $6,550 level, key resistance is then found at the $6,600 and $6,830 levels.
BITFINEX:BTCUSD
by OctaFX_Official
ETHUSD BULLISH DIVERGENCE KICKS INEthereum has found strong buying interest as bullish MACD price divergence causes price to surge back above the $200.00 level. The ETHUSD pair has now recovered over thirty percent of its market value after finding support from the $155.00 level earlier this week. Buyers will look to target the $220.00 level, while sellers will attempt to push the ETHUSD pair back under the $200.00 level. The ETHUSD pair is bullish while trading above the $200.00 level, key resistance is found at the $220.00 and $240.00 levels. If the ETHUSD pair moves below the $200.00 level, sellers may test towards the $180.00 and $172.00 support levels.
BITFINEX:ETHUSD
by OctaFX_Official