octafx

Bitcoin is attempting to advance above its current 2019 trading high, at $5,452, in early Tuesday trade, with the BTCUSD pair still well supported by strong dip-buying demand. The daily frame is showing that the $5,260 and the $5,200 levels are the main intraday support areas. Overall, the BTCUSD pair has a bullish weekly bias while trading above the $5,200 level...

The US dollar has fallen back towards its weekly pivot point against the Japanese yen currency after buyers failed to move price above the 112.00 level. The move lower is currently seen as a technical correction, as bulls have been able to maintain the USDJPY pair above the pivotal 111.68 level. The inverted head and shoulders pattern on the four-hour time frame...

BOC decide During the upcoming trading week, central bank action takes center stage, with interest rate decisions from the Bank of Japan, Central Bank of Turkey and the Bank of Japan. The Bank of Canada rate decision is likely to capture the spotlight, as market participants wait to see if the BOC will follow other central banks across the globe and adopt a more...

The euro currency remains under downside pressure against the US dollar, following a dovish speech from ECB President Mario Draghi. The EURUSD pair is currently probing the 1.1400 level, a sustained loss of this key area is likely to encourage technical sellers to test the 1.1360 level. If bears fail to break the 1.1400 level, a relief rally back towards the...

The British pound has recovered earlier losses against the US dollar after the pair tumbled to the 1.2667 support level, as British PM Theresa May’s Brexit bill being voted down in UK Parliament. The GBPUSD pair retains a strong intraday bullish bias while clearly trading above the pivotal 1.2810 level. Traders now await the outcome of the no-confidence-voted...

The LTCUSD pair remains under selling pressure on Wednesday, as the eight largest cryptocurrency by market capitalization struggles to rally away from the worst trading levels of the week. Litecoin buyers need to force price back inside the well-defined flag pattern to negate immediate downside pressure. The LTCUSD pair will likely come under further technical...

Litecoin has moved back under the $30.00 level after finding strong technical resistance from the $31.50 level on Wednesday. Before correcting under the $30.00 handle, the LTCUSD pair had gained close to thirty per cent in market capitalization since opening the new trading week around the $24.40 level. The MACD indicator on the four-hour time is starting to...

The euro currency is starting to lose bullish momentum against the US dollar after another strong technical failure above the 1.1400 level. The EURUSD pair is coming under pressure after the Federal Reserve increased interest rates and committed to further gradual rate hikes next year. A strong move below the 1.1360 support level is now needed to accelerate...

The British pound is weakening towards the 1.2600 level against the US dollar after the Federal Reserve hiked interest rates on Wednesday. The GBPUSD pair is likely to come under further technical selling pressure if price slips below the 1.2600 support level. Overall, increasing interest rate differentials between the US and the UK and Brexit concerns are likely...

The British pound is once again testing demand above the 1.2600 level against the US dollar after British Prime Minister Theresa May won yesterday’s Conservative party leadership challenge. The GBPUSD pair remains bearish while trading below the 1.2657 level and is still vulnerable to losses below the 1.2500 level. The GBPUSD pair is likely to take direction from...

The euro currency is trading at the mid-point of its trading range against the US dollar after sellers failed to break below key trendline support. The EURUSD currently has a neutral bias heading into today’s ECB policy meeting, with the pair stuck in range bound mode. Overall, a definitive technical breakout from the well-defined triangle pattern is needed before...

Ethereum remains under downside pressure on Thursday, with the ETHUSD pair still struggling to move away from worst trading levels of 2018 so far. The MACD and Stochastic indicators are attempting to move away from extremely oversold conditions on the daily time frame, although bullish momentum remains weak. If the ETHUSD pair can establish a price floor, buyers...

The British pound is moving back towards the 1.3100 support level against the US dollar, after peaking at the 1.3170 level on Wednesday. The GBPUSD pair remains vulnerable to further declines below the 1.3100 support level, with a breach of trendline support likely to promote technical selling. Buyers need to stabilize price above the 1.3100 level to build...

The euro is now trading below the key 1.1431 level against the US dollar, following a strong technical rejection from the 1.1500 resistance level. The EURUSD pair is intraday bearish while trading above the 1.1431 level and could form a bearish head and shoulders pattern if the decline continues. Buyers need to move price back above the 1.1452 level to stabilize...

Bitcoin is starting to edge lower in early Thursday trade after buyers failed to make headway above the $6,500 resistance level. The BTCUSD pair is likely to remain cautious ahead of the US Securities and Exchange Commissions ruling over a potential Bitcoin ETF, which is expected to be announced at any time. A clear break from the $6,300 to $6,500 price range is...

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...

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...

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...