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Octafx

EURUSD major week aheadThe euro has opened the new trading week unchanged against the US dollar, with Brexit uncertainty having a limited impact on the pair. The EURUSD pair performed a major breakthrough above the 1.1100 level last week, putting the 1.1200 level in focus if buyers can keep price above the 1.1160 level. Overall, the EURUSD pair is unlikely to extend gains beyond the 1.1230 technical area until the ECB policy decision. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1070 and 1.1040 levels. • The EURUSD pair is bullish while trading above the 1.1110 level, key resistance is found at the 1.1170 and 1.1230 levels.
by OctaFX_Official
GBPUSD 1.2850 supportThe British pound has opened the new trading week slightly lower against the US dollar after British PM Boris Johnson failed to pass his new Brexit deal over the weekend. The 1.2850 level offers key upcoming support if the 1.2800 level is convincingly broken. Overall, the GBPUSD pair is still settling in a higher trading range and market participants remain optimistic over Brexit. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.3000 and 1.3050 levels. • The GBPUSD pair is only bearish while trading below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels
by OctaFX_Official
BTCUSD $7,900 importantBitcoin looks set to close the trading week in the red, as the number one cryptocurrency by market capitalization fails to rally from the $8,000 support level. The $7,900 level is the key level to watch today if weakness persists under the $8,000 level today. A sustained breakout of the $7,900 level is likely to trigger heavy BTCUSD technical selling towards the $7,500 support level. • The BTCUSD pair is only bullish while trading above the $8,600 level, key resistance is located at the $8,810 and $9,100 levels. • If the BTCUSD pair trades under the $8,600 level, sellers may test towards the $7,900 and $7,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
EURUSD bullish above 1.1110The euro currency is gathering strength against the US dollar, following the recent bullish breakout above the 1.1110 resistance level. The EURUSD pair is increasingly likely to trade towards the 1.1160 level if bulls continue to hold price above the 1.1110 level. Brexit developments over the weekend could traders booking profits, leaving the 1.1070 level as major near-term support. • The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1070 and 1.1040 levels. • The EURUSD pair is bullish while trading above the 1.1110 level, key resistance is found at the 1.1160 and 1.1190 levels.
by OctaFX_Official
GBPUSD rally fadesThe British pound is starting to trade towards the 1.2850 level against the US dollar, after the pair hit its highest trading level since May 2019 on Thursday. A medium-term price high could be in place for sterling if UK lawmakers fail to approve the new Brexit deal over the weekend. Overall, the GBPUSD pair is vulnerable to further selling while trading below the 1.2850 level. • The GBPUSD pair is only bearish while trading below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels. • If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2920 and 1.3000 levels.
by OctaFX_Official
EURUSD 1.1110 weekly targetThe euro continues to enjoy strong buying interest against the US dollar, with the pair trading around the best levels of the week so far. According to technical analysis for the daily time frame, the 1.1110 level is currently the weekly bullish target for EURUSD bulls. Only a sustained loss of the 1.0990 support level will turn the intraday sentiment towards the EURUSD pair bearish. • The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0940 and 1.0920 levels. • The EURUSD pair is bullish while trading above the 1.0990 level, key resistance is found at the 1.1110 and 1.1160 levels.
by OctaFX_Official
GBPUSD 1.2900 resistanceThe British pound is moving away from the 1.2876 level against the US dollar after the pair traded to a new monthly high on Wednesday. The recent breakout above the 1.2720 level is a bullish development for the GBPUSD pair and has increased dip-buying interest. Overall, medium-term analysis is still showing that the GBPUSD is unlikely to break the 1.2900 resistance level this week. • The GBPUSD pair is only bearish while trading below the 1.2720 level, key support is found at the 1.2660 and 1.2515 levels. • If the GBPUSD pair trades above the 1.2720 level, key resistance is found at the 1.2878 and 1.2900 levels.
by OctaFX_Official
LTCUSD pressure buildingLitecoin has come under severe downside pressure towards the $50.00 level, following a heavy decline in the broader cryptocurrency market. Sellers could now target the $36.00 support level, as it has been a long-term bearish target that has yet to be reached. Overall, the LTCUSD pair will need to rally above the $60.00 resistance level to reduce intraday bearish pressure. • If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels. • If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $60.00 and $66.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
USDJPY 109.30 major resistanceThe US dollar has moved to fresh multi-month trading high against the Japanese yen currency after buyers broke through the 108.60 level on Tuesday. The USDJPY pair may test the 109.30 resistance level if bulls can maintain price above the 108.60. Overall, medium-term analysis shows that the USDJPY pair could reach the 110.00 level if bullish momentum continues to build. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support remains at the 107.90 and 106.90 levels. • The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels
by OctaFX_Official
EURUSD Brexit bounceThe euro currency has received a much-needed boost against the US dollar, following the release of bullish Brexit news of Tuesday. The EURUSD pair has reversed from the 1.0990 technical area and may start to target the 1.1070 resistance area if bulls can maintain the advance. Overall, the EURUSD pair has recently become a strong buy on any short-term technical pullbacks. • The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0940 and 1.0920 levels. • The EURUSD pair is bullish while trading above the 1.0990 level, key resistance is found at the 1.1070 and 1.1110 levels.
by OctaFX_Official
ETHUSD bearish under $180.00Ethereum is consolidating towards the worst levels of the week in early Wednesday trade, as the second-largest cryptocurrency struggles to find buying interest. Short-term bulls are only in control of the ETHUSD pair while price trades above the key $180.00 support level. Overall, buyers need to force a breakout above the $197.00 resistance level this week or the ETHUSD pair could fall back towards the $150.00 level. • If the ETHUSD pair trades above the $180.00 level, key resistance is found at the $197.00 and $210.00 levels. • If the ETHUSD pair trades below the $180.00 level, key support is found at the $171.00 and $150.00 levels.
BITSTAMP:ETHUSD
by OctaFX_Official
LTCUSD $50.00 trigger levelLitecoin has lost recent upside momentum after the fifth-largest cryptocurrency was rejected from just below the $60.00 resistance level. The recent rejection puts the $50.00 support level in focus, which is a key trigger level this month. A loss of the $50.00 level could spark a major decline towards the $36.00 support level. • If the LTCUSD pair trades above the $60.00 level, key resistance is found at the $66.00 and $73.50 levels. • If the LTCUSD pair trades below the $60.00 level, key support is found at the $50.00 and $36.00 levels.
BITSTAMP:LTCUSD
by OctaFX_Official
GBPUSD awaiting UK dataThe British pound is trading back above the 1.2600 resistance level against the US dollar after the pair found strong dip-buying demand from the 1.2515 support level. GBPUSD traders are now awaiting a raft of UK macroeconomic data this morning, which should provide the next short-term directional move. The 1.2770 level offers extended resistance, while the 1.2480 level offers strong technical support. • The GBPUSD pair is only bearish while trading below the 1.2580 level, key support is found at the 1.2515 and 1.2480 levels. • If the GBPUSD pair trades above the 1.2580 level, key resistance is found at the 1.2660 and 1.2770 levels.
by OctaFX_Official
EURUSD still a buyThe euro currency is holding above the 1.1000 level against the US dollar in early Tuesday trade, as selling momentum in the EURUSD pair starts to fade. EURUSD bulls may use any pullbacks towards the 1.1000 level as a buying opportunity. EURUSD buyers now need to force price above the 1.1044 level in order to encourage a technical test of the 1.1070 resistance level. • The EURUSD pair is only bearish while trading below the 1.0980 level, key support is found at the 1.0950 and 1.0920 levels. • The EURUSD pair is bullish while trading above the 1.0980 level, key resistance is found at the 1.1044 and 1.1070 levels.
by OctaFX_Official
Bitcoin opens positiveBitcoin has opened the new trading week with a more positive tone, as the number one cryptocurrency stabilizes above the $8,100 level. A break above the $8,600 resistance level should support an important technical test of the $9,100 level this week. A bearish break under the $8,100 support level could see the BTCUSD pair falling quickly towards the $7,500 level this week. The BTCUSD pair is only bullish while trading above the $8,600 level, key resistance is located at the $8,810 and $9,100 levels. If the BTCUSD pair trades under the $8,600 level, sellers may test towards the $8,100 and $7,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
USDJPY 108.90 breakThe US dollar is trading towards the best levels of the month against the Japanese yen currency, following the recent announcement of a Sino-US trade deal. The USDJPY pair could soar toward the 110.20 level if we see a sustained break above the 108.90 level this week. Any technical pullbacks in the USDJPY pair should find strong technical support from the 107.45 level. The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.00 levels. The USDJPY pair is only bullish while trading above the 107.45 level, key resistance is found at the 108.80 and 110.20 levels
by OctaFX_Official
GBPUSD key pullback levelThe British pound is starting to give back gains against the US dollar after the pair found strong resistance from its 200-day moving average, around the 1.2720 level. A sustained break under the 1.2580 level could the GBPUSD pair falling towards the 1.2485 level this week. Dip-buyers are likely to move in strongly from the 1.2485 level if we see a pullback in the GBPUSD pair. The GBPUSD pair is only bearish while trading below the 1.2480 level, key support is found at the 1.2410 and 1.2350 levels. If the GBPUSD pair trades above the 1.2480 level, key resistance is found at the 1.2720 and 1.2800 levels.
by OctaFX_Official