OctaFX_Official

OctaFX_Official

The British pound has opened the new trading week gap-down against the US dollar, as Brexit uncertainty once again drives sterling lower. The GBPUSD pair is bearish while trading below the 1.3155 level, with the 1.3100 level the key support area to watch for further intraday losses. Overall, the bullish inverted head and shoulders pattern is still valid while...

OctaFX_Official

The US dollar continues to trade towards the 112.00 level against the Japanese yen currency, as financial markets start the new trading week in risk-off mode. The USDJPY pair is currently consolidating inside a symmetrical triangle pattern, with a clear break below the 111.80 support level likely to signal further losses. Buyers need to move price above the 112.55...

OctaFX_Official

The LTCUSD pair is under heavy downside pressure for a second consecutive day, with the seventh largest cryptocurrency by market capitalization now trading below the $50.00 level. A clear break the $45.00 support level will trigger a bearish head and shoulders pattern with a downside projection of over $20.00. Sellers will attempt to break the bearish pattern...

OctaFX_Official

The British pound continues to benefit from weakness in the US dollar, with buyers now testing towards the current weekly trading high. The intraday bullish bias in the GBPUSD pair remains intact while price trades above the 1.3180 support level. Buyers will attempt to break the 1.3297 resistance level, while sellers will look to force the GBPUSD pair below the...

OctaFX_Official

The euro currency continues to press higher against the US dollar in early Friday trading, with price now holding above the 1.1600 level. The MACD indicator is trending higher on the daily time frame while the EURUSD pair is still exhibiting bullish price-action. Buyers are currently aiming for the pairs 100-day moving average, while sellers need to close the week...

OctaFX_Official

The US dollar continues to tumble lower against the Japanese yen currency, as risk-off trading sentiment and the sell-off in global equity markets worsens. The previously mentioned bearish head and shoulders pattern has been triggered, with the USDJPY pair now strongly bearish below the 112.55 level. Sellers will likely attempt to break the 112.00 support level,...

OctaFX_Official

The euro currency has moved well above 1.1553 level against the greenback after the US dollar index was sold sharply lower on Wednesday. The EURUSD pair is likely to advance higher while trading above the 1.1553 level, a bullish inverted head and shoulders pattern is now clearly visible with a large upside projection. Buyers will look for further gains towards the...

OctaFX_Official

Ethereum has tumbled below the $200.00 support level in early Thursday trading, after spending weeks struggling to find a directional bias. The ETHUSD pair has followed the broader cryptocurrency lower and is trading down nearly ten per cent intraday. Sellers will likely target the $182.00 support level, while buyers need to stabilize price above the $210.00...

OctaFX_Official

The British pound has soared back above the 1.3100 level against the US dollar, after reports that a Brexit divorce deal could be reached between EU and UK negotiators by next Monday. The GBPUSD pair is strongly bullish while trading above the 1.3122 level, which represents the former weekly high. Buyers will likely aim for further gains above the 1.3200 level,...

OctaFX_Official

The euro currency has moved above the 1.1500 level against the US dollar after US President Donald Trump once again criticized the US Federal Reserve on Tuesday. Price-action on the EURUSD pair has become increasingly bullish, a potential inverted head and shoulders pattern may also be forming. Buyers now need to close the day above the 1.1553 resistance level,...

OctaFX_Official

The BTCUSD pair is starting to trade lower alongside the broader cryptocurrency market on Wednesday after a technical rejection from the $6,600 resistance level. The Money Flow Index highlights depressed trading volumes in the BTCUSD pair, while the MACD indicator on the four-hour time frame continues to suggest tight range-bound trading conditions are likely to...

OctaFX_Official

The US dollar has fallen sharply lower against the Japanese yen after Chinese equity markets plunged lower on Monday, causing a flight into safe-haven currencies. The USDJPY pair remains under pressure and is intraday bearish while price trades below the well-defined rising channel. Sellers will attempt to break the 112.75 support level, while buyers need to move...

OctaFX_Official

The euro is trading back towards the psychological 1.1500 level against the US dollar after sellers failed to hold price below critical support on Monday. The EURUSD pair may have formed a bullish double-bottom pattern, hinting that price could now start to correct higher. Intraday buyers need to move price above the 1.1553 resistance level, while sellers will...

OctaFX_Official

The ETHUSD pair continues to struggle for direction, despite short-term buyers holding price above the symmetrical triangle pattern. Upside momentum is still lacking for Ethereum, as the broader cryptocurrency market struggles in a low volume trading environment. Buyers will need to move price above $242.00 to accelerate buying, while short-term sellers will aim...

OctaFX_Official

The US dollar is trading back towards the key 114.00 level against the Japanese yen after price bounced from trendline support following Friday’s disappointing Nonfarm Payrolls job report from the US economy. The USDJPY pair retains a bullish intraday bias while trading inside the well-defined rising channel. Buyers will look to move price back above the 114.06...

OctaFX_Official

The British pound has moved back above the key 1.3100 level against the US dollar, as optimism grows that a Brexit deal may soon be struck between the EU and the United Kingdom. The MACD indicator on the four-hour time frame is trending higher and signalling further gains ahead. With an absence of economic data from the United States economy, Brexit news remains...

OctaFX_Official

The 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...

OctaFX_Official

The 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...