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Octafx

USDJPY INTRADAY BULLISH ABOVE 111.75 LEVELThe US dollar has moved to a fresh monthly trading high against the Japanese yen, as rising equity markets and improving risk-on trading sentiment prompts traders to sell the yen currency. The USDJPY pair remains intraday bullish while trading above the 111.75 level, and is further supported by a bullish inverted head and shoulders pattern across the four-hour time frame. The USDJPY pair is strongly bullish while trading above the 111.75 level, key resistance is found at the 112.10 and 112.80 levels. If the USDJPY pair moves below the 111.75 level, key support is found at the 111.40 and 111.00 levels.
by OctaFX_Official
EURUSD BULLISH HEADED INTO THE ECB MEETINGThe euro has started to move higher against the greenback after United States PPI inflation data came in much worse than expected on Wednesday. The recent bullish momentum in the EURUSD pair remains valid while price trades above the 1.1600 support level. Traders now turn their attention to the European Central Bank policy meeting later today, where ECB President Mario Draghi is expected to downgrade eurozone growth prospects. The EURUSD pair is bullish while trading above the 1.1600 level, key resistance is located at the 1.1681 and 1.1730 levels. If the EURUSD pair moves below the 1.1600 level, key support is found at the 1.1568 and 1.1528 levels.
by OctaFX_Official
BTCUSD STILL TRAPPED IN WEDGE PATTERNBitcoin continues to trade towards the lower end of its monthly range on Thursday, as short and medium-term sellers retain control of the number crypto. The BTCUSD pair failed to react to news that U.S. authorities are tightening cryptocurrency regulations, while many other popular cryptocurrencies such as Litecoin and Ethereum fell. Price is still expected to gravitate towards the wedge pattern bottom, around the $5,700 support level. The BTCUSD pair is bearish while trading below the $6,400 level, key support is located at the $6,000 and $5,700 levels. If the BTCUSD pair moves back above the $6,400 level, key resistance is then found at the $6,550 and $6,730 levels.
BITFINEX:BTCUSD
by OctaFX_Official
USDJPY BOOSTED BY US AND CHINA TRADE TALKSThe US dollar has maintained recent bullish momentum against the Japanese yen currency, as news that the US and China may enter into a new round of trade talks has boosted risk-on trading sentiment. USDJPY buyers must now go on to break the 111.75 resistance level, while USDJPY sellers will attempt to push price below the 111.25 support level. Caution is advised as the US Dollar Index is starting to weaken across the board. The USDJPY pair is only bullish while trading above the 111.37 level, key resistance remains at the 111.75 and 112.05 levels. If the USDJPY pair moves below the 111.37 level, key support is found at the 110.90 and 110.38 levels.
by OctaFX_Official
USDJPY FOLLOWING US BOND AND EQUITY MARKETS HIGHERThe US dollar has moved towards the top end of its short-term trading range, as rising US bond and equity markets push the greenback higher. Asian stock markets have hit a fourteen- month trading low on Wednesday, causing the USDJPY pair to pause. USDJPY buyers will attempt to keep price above the 111.75 level to keep the recent bullish momentum alive, while sellers will try to push price below the 111.37 level. The USDJPY pair is strongly intraday bullish while trading above the 111.75 level, key resistance is found at the 112.05 and 112.20 levels. If the USDJPY pair moves below the 111.37 level, key support is found at the 110.90 and 110.38 levels.
by OctaFX_Official
EURUSD TECHNICAL REJECTION WEIGHS ON SENTIMENTThe euro currency has come under heavy selling pressure against the US dollar after Tuesday rally higher was once again rejected from the 1.1650 resistance level. The EURUSD pair remains short-term bearish while trading below the 1.1600 support level. Sellers will attempt to break the 1.1528 support level, while buyers need a solid price close above the 1.1650 level. The EURUSD pair is bearish while trading below the 1.1600 level, key support is located at the 1.1528 and 1.1500 levels. If the EURUSD pair moves above the 1.1650 level, buyers are likely to test towards the 1.1681 and 1.1730 levels.
by OctaFX_Official
ETHUSD UNDER PRESSURE AS DIVERGENCE BUILDSEthereum has fallen to its lowest level in nearly one year, as the technical breakdown continues below the $200.00 support level. The ETHUSD pair has lost over forty percent of its value in September, as sellers continue to target the second largest cryptocurrency. Price may soon rebound as the ETHUSD pair is creating bullish price divergence across the one and four-hour time frames. The ETHUSD pair is strongly bearish while trading below the $200.00 level, key support is found at the $150.00 and $135.00 support levels. If the ETHUSD pair moves above the $200.00 level, buyers may test towards the $220.00 and $240.00 resistance levels.
BITFINEX:ETHUSD
by OctaFX_Official
EURUSD SELLERS FAIL AT NECKLINE SUPPORTThe euro has moved sharply higher against the US dollar after buyers failed to contain price below the neckline of a bearish head and shoulders pattern. The US dollar index has also weakened back towards the 95.00 level, prompting a technical correction in the EURUSD pair. Sellers need to bring price under the 1.1553 level once again, while buyers need to move the EURUSD pair above the 1.1650 level. The EURUSD pair is only bearish while trading below the 1.1553 level, key support is found at the 1.1528 and 1.1500 levels. If the EURUSD pair moves above the 1.1650 level, buyers are likely to test towards the 1.1681 and 1.1730 levels.
by OctaFX_Official
GBPUSD BEARISH PRICE DIVERGENCE FORMINGThe British pound has moved sharply higher against the US dollar after EU Chief Negotiator Michel Barnier stated that a Brexit deal could be made within six to eight weeks. The GBP/USD pair has moved towards the 1.3040 level, forming a bullish inverted head and shoulders pattern. Caution is still warranted as the recent move higher has created bearish MACD price divergence across the lower time frames. The GBPUSD pair is only bullish while trading above the 1.2985 level, key resistance is found at the 1.3040 and 1.3100 levels. If the GBPUSD pair moves below the 1.2985 level, price could correct back towards the 1.2955 and 1.2900 support levels.
by OctaFX_Official
LTCUSD HEAD AND SHOULDER IN FOCUSThe LTCUSD pair is facing further heavy downside losses as the seventh largest cryptocurrency by market capitalization trades close to the neckline of a bearish head and shoulders pattern. The bearish price divergence on the MACD indicator has now corrected, causing the LTC/USD pair to lose over fifteen percent of its market value last week. Sellers will attempt to break the $52.00 level, while buyers will look to negate the bearish pattern and move price above the $57.00 level. The LTCUSD pair is intraday bearish while trading below the $56.50 level, key support is found at the $52.00 and $50.00 levels. If the LTCUSD pair moves above the $57.00 level, buyers may test towards the $59.00 and $62.20 resistance levels.
BITFINEX:LTCUSD
by OctaFX_Official
BTCUSD UNDER PRESSURE BELOW $6,550Bitcoin has started the new trading week under pressure, as regulatory uncertainty continues to keep the number one cryptocurrency trading on the back foot. The BTCUSD pair may gravitate towards the wedge pattern bottom, after last weeks rejection from the topside trendline. Sellers will aim to break the $6,000 support level, while buyers will look to stabilize price above the $6,550 level. The BTCUSD pair is only intraday bearish while trading below the $6,550 level, key support is located at the $6,000 and $5,700 levels. If the BTCUSD pair moves back above the $6,550 level, price may correct back towards the $6,730 and $6,838 resistance levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD UNDER PRESSURE AFTER BEARISH WEEKLY CLOSEThe euro is coming under selling pressure against the US dollar on Monday, after a stronger than expected US jobs figure and bearish weekly price close below the 1.1553 level. Sellers attention is once again focused on the head and shoulders pattern neckline around the 1.1530 level. Buyers will need to move price above the 1.1600 level to negate the short-term bearish sentiment surrounding the EURUSD pair. The EURUSD pair is bearish while trading below the 1.1553 level, key technical support is found at the 1.1530 and 1.1500 levels. If the EURUSD pair moves above the 1.1600 level, buyers are likely to test towards the 1.1650 and 1.1681 levels.
by OctaFX_Official
GBPUSD SELLERS BACK IN CONTROLThe British pound is back under pressure towards the 1.2900 level against the greenback after a stronger than expected US jobs figure provoked US dollar buying. The bearish head and shoulder pattern is still valid across the lower time frames, despite Friday’s brief spike above the 1.3000 level. Sterling traders now look to the release of GDP, Manufacturing and Industrial production data from the United Kingdom economy. The GBPUSD pair is bearish while trading below the 1.2900 level, key support is found at the 1.2863 and 1.2802 levels. If the GBPUSD pair moves above the 1.2900 level, key technical resistance is found at the 1.2955 and 1.2985 levels.
by OctaFX_Official
USDJPY UNDER PRESSURE BELOW 110.90 LEVELThe US dollar has fallen below the 110.90 level against the Japanese yen currency, as falling equity prices are forcing investors into safe-haven asset classes. The intraday sentiment towards the USDJPY pair is bearish while trading below the 110.90 level, caution is still warranted as the USDJPY pair has recently been unable to find a trending directional. The USDJPY pair is bearish while trading below the 110.90 level, key support is now found at the 110.10 and 109.65 levels. If the USDJPY pair moves above the 110.90 level, a correction towards the 111.10 and 111.39 levels cannot be ruled out.
by OctaFX_Official
EURUSD AWAITING RANGE BREAKThe euro currency is unable to find a clear trending direction against the U.S. Dollar Index, as buyers once again failed to hold price above the 1.1650 level on Thursday. The release of the US Non-farm payroll job report later today may provide the catalyst for a clear technical break. EURUSD sellers will attempt to break the 1.1530 level, while buyers will try to attack the 1.1650 level. The EURUSD pair bearish while trading below the 1.1600 level, key technical support is found at the 1.1580 and 1.1530 levels. If EURUSD buyers move price above the 1.1650 level, further upside towards the 1.1681 and 1.1730 level appears likely.
by OctaFX_Official
ETHUSD STRONGLY BEARISH BELOW $240.00Ethereum has fallen sharply lower after the second largest cryptocurrency by market capitalisation broke under a triangle pattern. The ETHUSD pair is now trading its lowest level of 2018 and is likely to come under further technical selling pressure while trading below the $240.00 level. Sellers will try to target below $200.00 while buyers will attempt to stabilise price above the $240.00 level. The ETHUSD pair is strongly bearish while trading below the $240.00 level, further losses towards the $200.00 and $180.00 levels seems possible. If the ETHUSD pair moves above the $240.00 level, buyers will likely test towards the $250.00 and $262.00 resistance levels.
BITFINEX:ETHUSD
by OctaFX_Official
GBPUSD SPIKE HIGHER CREATES BEARISH PATTERNThe British pound has spiked sharply higher against the US dollar after reports surfaced that German officials have dropped key Brexit demands. The GBPUSD has fallen away from the best levels of Wednesday, with the move higher helping to close the price gap on the weekly open. The recent move higher has also created a bearish head and shoulders pattern on the four-hour time frame. The GBPUSD pair remains bearish while trading below the 1.2955 level, key support is now found at the 1.2863 and 1.2802 levels. If the GBPUSD pair moves above the 1.2955 level, buyers are likely to target the 1.2985 and 1.3040 resistance levels.
by OctaFX_Official
EURUSD ATTEMPTING TO BREAK KEY RESISTANCEThe euro currency continues to press higher against the greenback after the U.S. Dollar Index failed to hold above the key 95.50 support level for the second consecutive day. The short-term trend on the EUR/USD pair will turn bullish if buyers can hold price above the 1.1650 resistance level. The MACD indicator across the one-hour time frame continues to trend higher. The EURUSD pair is only bullish while trading above the 1.1650 level, key technical resistance is now found at the 1.1681 and 1.1730 levels. If the EURUSD sellers move price below the 1.1600 level once again, sellers will likely test the 1.1580 and 1.1553 levels.
by OctaFX_Official
BTCUSD NOW INTRADAY BEARISH BELOW $6,800Bitcoin has come under heavy selling pressure alongside the broader cryptocurrency after finding strong resistance from the $7,400 level. The world’s number one cryptocurrency is likely to remain under selling pressure while trading below the $6,800 level. Sellers will try to target further losses below the $5,700 level to trigger the head and shoulders pattern, while buyers will attempt to stabilise price above the $6,800 resistance level. The BTCUSD pair is bearish while trading below the $6,800 level, key support is located at the $6,000 and $5,700 levels. If the BTCUSD pair moves back above the $6,550 level, price could correct back towards the $6,700 and $6,800 resistance levels.
BITFINEX:BTCUSD
by OctaFX_Official
EURUSD SHORT TERM TREND STILL BEARISH BELOW 1.1650The euro currency has corrected towards the 1.1600 level against the US dollar, with price creating an even larger head and shoulders pattern. The MACD indicator across the four-hour time frame is attempting to move higher after Tuesday’s bounce from the 1.1529 level. EURUSD traders now look to key Retail Sales and PMI data from the eurozone economy this morning. The EURUSD pair remains bearish while trading below the 1.1650 level, key technical support is now found at the 1.1553 and 1.1529 levels. If the EURUSD buyers move price above the 1.1600 level, key resistance is found at the 1.1650 and 1.1680 levels.
by OctaFX_Official
GBPUSD AWAITS KEY UK SERVICES DATAThe British pound has moved away from the 1.2800 support region against the US dollar, as the greenback edges away from the best levels of the week. The GBPUSD pair now looks to the release of key PMI Services data from the UK economy, with market expectations tilted to the upside. Sellers will look to break the 1.2810 support level, while buyers will attempt to reclaim the 1.2900 level. The GBPUSD pair remains intraday bearish while trading below the 1.2863 level, key support is now found at the 1.2810 and 1.2775 levels. If the GBPUSD pair moves above the 1.2900 level, buyers are likely to target the 1.2930 and 1.2955 resistance levels.
by OctaFX_Official
LTCUSD BULLISH BIAS INTACT ABOVE $63.30The LTCUSD pair has gained close to five percent at the start of the month so far, after performing a technical break above key resistance. Litecoin, the seventh largest cryptocurrency by market capitalization retains its short-term bullish bias while trading above the $63.30 level. A correction lower may occur at some point, as the MACD indicator is currently showing negative price divergence on the four-hour time frame. The LTCUSD pair is intraday bullish while trading above the $63.30 level, key resistance is found at the $68.00 and $70.80 levels. If the LTCUSD pair moves below the $63.30 level, sellers will likely test towards the $62.00 and $60.00 support levels.
BITFINEX:LTCUSD
by OctaFX_Official
GBPUSD STRONGLY BEARISH BELOW 1.2863The British pound continues to drift lower against the US dollar in early Tuesday trade, as fears over a Brexit no-deal weigh on sterlings intraday sentiment. The GBPUSD pair is likely to weaken further while trading below the 1.2863 technical level, as it represents the start of last weeks spike higher. Traders now look to the release of the United Kingdom’s Construction PMI. The GBPUSD pair is strongly bearish while trading below the 1.2863 level, key support is found at the 1.2810 and 1.2775 levels. If the GBPUSD pair moves above the 1.2863 level, price may correct back towards the 1.2900 and 1.2930 levels.
by OctaFX_Official