USD/CAD pullback expectedA small pullback expected from here as most of the analyst where short yesterday, but they got REKT
Octafx
EURUSD 1.1000 possibleThe euro is moving higher against the US dollar after the US ISM manufacturing survey unexpectedly fell to a ten-year low on Tuesday. The EURUSD is only short-term bullish while trading above the 1.1000 level, leaving the pair with a major upside battle. Overall, a temporary bottom has now most likely been established around the 1.0880 level, making long positions more desirable.
• The EURUSD pair is bearish while trading below the 1.1000 level, key support is found at the 1.0880 and 1.0850 levels.
• The EURUSD pair is only bullish while trading above the 1.1000 level, key resistance is found at the 1.1025 and 1.1070 levels.
GBPUSD bearish pattern formingThe British pound has recovered towards the 1.2300 level agains the US dollar after traders bought the pair from the 1.2200 level over positive Brexit headlines. The recent decline has helped the GBPUSD pair create an extremely large head and shoulders pattern across the lower time frames. Overall, the latest bounce higher has the potential to form a right-hand shoulder to complete the pattern, with the intial short-term bullish target likely to be around the 1.2370 area.
• The GBPUSD pair is bearish while trading below the 1.2300 level, key support is found at the 1.2200 and 1.2210 levels.
• If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2350 and 1.2375 levels.
ETHUSD $175.00 keyEthereum is attempting to build bullish momentum on Wednesday as the cryptocurrency market starts to recover from the September trading low. The ETHUSD pair could advance towards the $190.00 level if bulls keep price above the $175.00 level. Overall, a loss of the $175.00 support level could prompt the ETHUSD pair to test towards the important $150.00 level.
• If the ETHUSD pair trades above the $175.00 level, key resistance is found at the $190.00 and $205.00 levels.
• If the ETHUSD pair trades below the $175.00 level, key support is found at the $165.00 and $150.00 levels.
GBPUSD trade the edgesThe British pound is trading under the 1.2300 level against the US dollar as traders remain cautious ahead of key US and UK data releases this week. The four-hour time frame shows that the GBPUSD pair could bounce towards the 1.2375 technical area if a near-term recovery occurs. To the downside, a move below last weeks trading low could see a quick bearish drop towards the 1.2220 technical region.
• The GBPUSD pair is bearish while trading below the 1.2360 level, key support is found at the 1.2250 and 1.2220 levels.
• If the GBPUSD pair trades above the 1.2325 level, key resistance is found at the 1.2375 and 1.2410 levels.
EURUSD 1.0850 supportThe euro currency is trading below the 1.0900 level against the greenback, as the US Dollar index advances to a new 2019 trading high. The current risk for the EURUSD pair is a drop towards the 1.0850 level, with extended support around the 1.0810 level. Overall, the EURUSD faces a day of high impacting economic data, which has the potential to positively or negatively impact the pair.
• The EURUSD pair is only bearish while trading below the 1.1025 level, key support is found at the 1.0850 and 1.0810 levels.
• The EURUSD pair is only bullish while trading above the 1.1025 level, key resistance is found at the 1.1070 and 1.1110 levels.
BTCUSD $9,000 key resistanceBitcoin is trading above its key 200-day moving average on Tuesday, although the cryptocurrency still closed the month of September heavily into the red. Any sustained moves above the $8,300 level are likely to find strong technical resistance from the $9,000 technical region. Overall, BTCUSD bulls need to hold the pair back above the $8,300 level to shift the intraday sentiment towards the pair and encourage short-term traders to turn more bullish.
• The BTCUSD pair is only bullish while trading above the $8,300 level, key resistance is located at the $9,000 and $9,600 levels.
• If the BTCUSD pair trades under the $8,300 level, sellers may test towards the $7,500 and $7,100 support levels.
LTCUSD $36.00 is the riskLitecoin appears increasingly bearish as the new trading week opens as the fifth-largest cryptocurrency languishes towards the $50.00 level. The LTCUSD pair is set for another month of losses, leaving the risk of a possible decline back towards the $36.00 level. Overall, bulls need to move the LTCUSD pair above the $65.00 level or the cryptocurrency could see start to settle below the $50.00 level.
If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $65.00 and $73.50 levels.
If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.
GBPUSD high risk dayThe British pound has opened the new trading day below the 1.2300 level against the US dollar as United Kingdom political risks weigh on sterling. The immediate risk is a possible decline towards the 1.2250 level, while the current yearly low could come into focus if British PM Boris Johnson is ousted in UK Parliament. Only a sustained rally above the 1.2360 level will change the intraday sentiment towards the GBPUSD pair.
The GBPUSD pair is bearish while trading below the 1.2360 level, key support is found at the 1.2250 and 1.2100 levels.
If the GBPUSD pair trades above the 1.2360 level, key resistance is found at the 1.2410 and 1.2470 levels.
EURUSD rebound possibleThe euro currency remains extremely weak against the US dollar, although key upcoming risk events could provide some relief for the EURUSD pair. The US dollar index currently has a double-top pattern forming, while US political risks this week could be EURUSD supportive. Overall, weakness under the 1.0900 level could prompt more losses, however, traders must be careful in case a strong bounce occurs.
The EURUSD pair is only bearish while trading below the 1.1025 level, key support is found at the 1.0900 and 1.0850 levels.
The EURUSD pair is only bullish while trading above the 1.1025 level, key resistance is found at the 1.1070 and 1.1110 levels.
Silver possible next move!!Currently, Silver is at the 38.2% level, also a formation of the double bottom pattern.
EURUSD still a sellThe euro currency has moved to a new 2019 trading low against the US dollar after sellers forced a technical test of the 1.0900 support zone. The EURUSD has few fundamentals positives at the moments and the technical landscape is still very bearish while below the 1.1110 level. A continuation of EURUSD selling remains the most likely scenario, with the 1.0850 level the possible bearish target.
The EURUSD pair is only bearish while trading below the 1.1025 level, key support is found at the 1.0900 and 1.0850 levels.
The EURUSD pair is only bullish while trading above the 1.1025 level, key resistance is found at the 1.1050 and 1.1070 levels.
GBPUSD 1.2300 bounceThe British pound has recovered from the 1.2300 level against the US dollar, with the move higher extending towards the 1.2365 level. With the short-term bearish target for the GBPUSD pair possibly hit, directional traders may be sidelined until next week. In the immediate term, if the 1.2300 level is broken the GBPUSD pair is likely to find strong support from the 1.2275 level.
The GBPUSD pair is bearish while trading below the 1.2410 level, key support is found at the 1.2300 and 1.2275 levels.
If the GBPUSD pair trades above the 1.2410 level, key resistance is found at the 1.2470 and 1.2510 levels.
Falling wedge , 70 pips Scalp!!Bullish Formation, a low sell volume and also at the support
Bounce is expected!!
USD/JPY Rising Wedge BreakoutRising Wedge has broken through the support line.
Possible bearish price movement
Target point as per charts
GBP/NZD Channel Pattern!Channel Up pattern is still in the process of forming
Possible bearish price movement towards the support 1.9636
EUR/CAD Bullish ???Ascending Triangle is still in the process of forming.
Wait for a breakout, targets as per support and resistance
ETHUSD bullish divergenceEthereum is still trading at relatively depressed levels on Friday, although the thirty-minute time frame is showing huge bullish MACD divergence. The bullish MACD divergence extends towards the $218.00 level and suggests an upside rally may soon be coming for the ETHUSD pair. Overall, ETHUSD bulls may start to enter back into the short-term long trade once the $180 level is reclaimed.
If the ETHUSD pair trades above the $180.00 level, key resistance is found at the $200.00 and $218.00 levels.
If the ETHUSD pair trades below the $180.00 level, key support is found at the $165.00 and $150.00 levels.
BTCUSD must bounceBitcoin has come under major downside pressure after finally breaking under the well-defined descending triangle pattern on the higher time frames. The $8,300 level is must bounce level for the BTCUSD pair or the cryptocurrency could slide towards the $7,500 level. Overall, the BTCUSD pair is a sell while trading under the triangle, bulls desperately need to rapidly move price back inside the triangle.
The BTCUSD pair is only bullish while trading above the $9,100 level, key resistance is located at the $9,600 and $10,300 levels.
If the BTCUSD pair trades under the $9,100 level, sellers may test towards the $7,500 and $6,800 support levels.
EURUSD 1.0925 keyThe euro is back under pressure against the greenback after traders force a bearish breakout below the current weekly trading low. The EURUSD pair now needs to move below the 1.0925 level to encourage technical towards the 1.0850 technical area. Traders could also buy the EURUSD pair from the current area if the 1.0925 level is not broken for a great risk-reward entry.
The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0925 and 1.0850 levels.
The EURUSD pair is only bullish while trading above the 1.1000 level, key resistance is found at the 1.1025 and 1.1050 levels.
USDJPY back to pivotThe US dollar continues to recover higher against the Japanese yen currency as the pair move back towards the pivotal 107.70 level. The rebound from the 106.90 level has been fairly rapid and suggests that the USDJPY pair could still probe above the 108.00 level over the medium-term. Overall, bulls have the upper hand as long as the USDJPY pair trades above the 107.70 level.
The USDJPY pair is only bullish while trading above the 107.70 level, key resistance is found at the 108.10 and 108.48 levels.
The USDJPY pair is only bearish while trading below the 107.00 level, key technical support remains at the 106.90 and 106.50 levels.
