OctaFX Analytics

2021-07-24 06:27:07 #weekly_review

Jun 19 - Jul 25

CRYPTOS RECOVER AS ELON MUSK CONSIDERS BITCOIN PAYMENTS

Key events:

Bitcoin Slips
Bitcoin recovered from its lowest trading levels in nearly a month as Elon Musk gave some much needed support to the top cryptocurrency during a Bitcoin conference this week.

COVID-19 fears
The market went into extreme risk-off trading mode earlier this week as fears over the new COVID-19 Delta variant caused global equity markets and risker asset classes to move sharply lower.

ECB Change
The euro currency remained volatile on the foreign exchange market this week due a change in the European Central Bank’s policy guidance and the release of eurozone PMI data.

Aussie drops
The Australian dollar suffered heavily losses against a broad basket of currencies this week as the Australian government announced new lockdown measures in a number of major cities.

Read more details here Open / Comment

2021-07-23 14:55:11 TRADING IDEA
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Trading system - AUTOCHARTIST

#XAUUSD

Target Level: 1,791.48
Target Period: 3 days
Interval: 1 hour

Approaching Support level of 1791.4800 identified at 23-Jul-14:00
Supported by Downward sloping Moving Average Open / Comment

2021-07-23 14:50:12 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDJPY

Target Level: 110.7777
Target Period: 1 day
Interval: 4 hour

Ascending Triangle has broken through the resistance line at 23-Jul-12:00. Possible bullish price movement forecast for the next day towards 110.7777.
Supported by Upward sloping Moving Average Open / Comment

2021-07-23 14:45:58 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPCAD

Target Level: 1.7148
Target Period: day
Interval: 20 minutes
Pattern: Channel Down

Channel Down identified at 23-Jul-09:30. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.7148 within the next day.
Supported by Downward sloping Moving Average Open / Comment

2021-07-23 14:44:35 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPCHF

Target Level: 1.2758
Target Period: 2 days
Interval: 4 hour
Pattern: Channel Down

Channel Down identified at 22-Jul-12:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.2758 within the next 2 days.
Supported by Upward sloping Moving Average Open / Comment

2021-07-23 14:42:42 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDCHF

Target Level: 0.9246
Target Period: 2 days
Interval: 1 hour
Pattern: Resistance

Broke through Resistance level of 0.9203 at 23-Jul-14:00
Supported by Upward sloping Moving Average Open / Comment

2021-07-23 12:56:54 #intraday_trading

Check out our intraday trading idea

#NZDUSD is possibly bullish

Technical analysis
The CCI with the MACD indicates that the uptrend may prevail
The price is above MA(50), suggesting a possible movement upwards

Key levels
Support 0.69270 0.69497 0.69644
Resistance 0.69823 0.69942 0.70089

Learn more Open / Comment

2021-07-23 12:17:26 #trading_spotlight

Every day we analyze the market trends, select the most newsworthy asset, and prepare technical analysis on it—to help you reduce risks and get prepared.

Today's tickers:

In our most likely scenario, the #EURJPY pair may rise towards the first resistance level of 130.305
The #GBPJPY pair may initially decline towards the first support level of 151.281
In our most likely scenario, the #BTCUSD pair may attempt to break the first resistance level of 32,908

Learn more Open / Comment

2021-07-23 08:30:53 #intraday_trading

Check out our intraday trading idea

#XAUUSD is possibly bullish

Technical analysis
The EMA(50) and the EMA(100) cross, which is favourable for opening an order
The EMA(50) is above the EMA(100), which is beneficial for bulls
The MACD indicator is above 0 and pointing down
The RSI is slightly below 50

Key levels
Support 1,798.82 1,791.44
Resistance 1,808.93 1,825.12

Learn more Open / Comment