OctaFX Analytics

2021-06-01 10:54:49 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPJPY

Target Level: 156.0690
Target Period: 2 days
Interval: 4 hour
Pattern: Rising Wedge

Rising Wedge identified at 01-Jun-08:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 156.0690 within the next 2 days.
Supported by Upward sloping Moving Average Open / Comment

2021-06-01 10:47:30 TRADING IDEA
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Trading system - AUTOCHARTIST

#AUDUSD

Target Level: 0.7796
Target Period: 2 days
Interval: 4 hour
Pattern: Channel Down

Channel Down identified at 31-May-12:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 0.7796 within the next 2 days.
Supported by Upward sloping Moving Average Open / Comment

2021-06-01 10:43:10 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDJPY

Target Level: 109.2787
Target Period: 4 hours
Interval: 1 hour

Possible bearish price movement towards the support 109.2787 within the next 4 hours.
Supported by Downward sloping Moving Average Open / Comment

2021-06-01 10:24:05 #XAUUSD #intraday #simple_trading_strategy

TRADING TIPS FOR INTRADAY TRADING

Technical analysis:
The Bollinger Bands are wide open, which means increased volatility.
The RSI, which is above 50, indicates prevailing uptrend, while the CCI suggests a possible correction downwards.

What the possible outcomes are :
In our most likely scenario, the XAUUSD pair may may attempt to break the resistance level of 1,916.28.
If the pair manages to surpass this resistance level, we should expect a continued surge towards the next resistance level of 1,926.29.
Conversely, it's possible to see the pair fail to break the resistance level and regress towards the support level of 1,910.36.
If the pair falls below this support level, we can expect a further decline to the next support level of 1,903.58.


Important trading levels:
Support : 1,889.54 1,893.09 1,898.76 1,903.58
Resistance : 1,910.36 1,916.28 1,926.29 Open / Comment

2021-06-01 07:01:44 TODAY’S HIGHLIGHTS

RBA Interest Rate Decision , Australia
Unemployment Change, Germany
Consumer Price Index, eurozone
Gross Domestic Product, Canada
ISM Manufacturing PMI, USA
BoE's Governor-Designate Bailey speech, UK

This affects:
AUD and its subsequent pairs
EUR and its subsequent pairs
CAD and its subsequent pairs
USD and its subsequent pairs
GBP and its subsequent pairs

ECONOMIC CALENDAR Open / Comment

2021-05-31 13:48:22 #XAUUSD #intraday #simple_trading_strategy

TRADING TIPS FOR INTRADAY TRADING

Technical analysis:
The Bollinger Bands are narrowing, signifying a reduction in volatility.
The RSI, which is above 50, indicates prevailing uptrend, while the CCI suggests a possible correction downwards.

What the possible outcomes are :
In our most likely scenario, the XAUUSD pair may experience a downwards correction towards the support level of 1,903.58.
If the pair falls below , we can expect a continued downtrend towards the support level of 1,898.76.
Contrarily, the pair may rise towards the resistance level of 1,910.36.
If the pair manages to surpass this resistance level, we should expect a continued surge towards the resistance level of 1,916.28.

Important trading levels:
Support : 1,889.54 1,893.09 1,898.76 1,903.58
Resistance : 1,910.36 1,916.28 Open / Comment

2021-05-31 10:22:53 #weekly_forecast

Week May 31 - Jun 6

Market focus

GLOBAL GROWTH AND JOBS DATA HEAVILY IN FOCUS THIS WEEK

During the upcoming trading week the release of the US Non-farm payrolls job report and the Reserve Bank of Australia jobs report takes center stage. The US jobs report is expected to show an improvement from the previous months number, with economists forecasting that the US economy created over 620,000 jobs in May.

Key events:

Monday 31ST May, German Consumer Price Index

Tuesday 1st June, RBA Interest Rate Decision

Wednesday 2nd June, Australian Q1 GDP

Thursday 3rd June, US ISM Manufacturing

Friday 4th June, US Nonfarm Payrolls Job Report


Read more details here Open / Comment

2021-05-31 08:00:20 ​​#webinars_schedule

Hello! We want to announce the upcoming webinars to be held this week:

31/05, 8 PM PST - URDU Webinar 'Determining Liquidity Levels' with Mateen Awan

31/05, 3:30 PM MYT - BAHASA MELAYU Live trading session with Gero Azrul

1/06, 9 PM IST - HINDI Workshop 'The Forex Fundamentals' with Manish Patel

1/06, 9 PM MYT - ENGLISH Live trading session with Kar Yong Ang

1/06, 7 PM WIB - BAHASA INDONESIA Webinar 'Basic Scalping Strategy Using the TL Indicator' with Vito Henjoto

2/06, 8 PM PST - URDU Webinar 'Trendline Trading Strategy' with Mateen Awan

2/06, 3:30 PM MYT - BAHASA MELAYU Live trading session with Gero Azrul

2/06, 6 PM WAT - ENGLISH Webinar 'Currency Pairs' with Tunmise Olaoluwa

2/06, 7 PM WIB - BAHASA INDONESIA Webinar 'Top 10 Beginners' Trading Mistakes' with Vito Henjoto

3/06, 9 PM IST - HINDI Workshop 'First Steps in Trading' with Manish Patel

3/06, 7 PM WIB - BAHASA INDONESIA Live trading session with Eko Bagus Setiawan

3/06, 9:30 PM MYT - BAHASA MELAYU Webinar 'Risk Management Analysis' with Gero Azrul

4/06, 9 PM IST - HINDI Workshop 'Predicting the Market' with Manish Patel Open / Comment

2021-05-30 08:31:33 #weekly_review

May 24 - 30

BITCOIN VOLATILITY CONTINUES TO CAPTURE TRADERS ATTENTION

Key events:

Bitcoin recovery
Bitcoin attempted to recover higher this week, following bullish news surrounding a North American mining council and a pushing back of environmental concerns by the world’s largest cryptocurrency exchange.

Gold rush
The price of gold rallied to its highest trading level since early January 2021 this week as traders and investors continue to buy the yellow-metal. .

German growth
The German DAX rallied this week after IFO data from Europe’s largest economy came in much better than economists had been expected.

RBNZ hawks
The New Zealand dollar rallied against the US dollar this week after the Reserve Bank of New Zealand sounded less dovish than markets had been expecting.

Read more details here Open / Comment

2021-05-28 10:01:06 TRADING IDEA
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Trading system - AUTOCHARTIST

#XAUUSD

Target Level: 1912.6600
Target Period: 2 days
Interval: 4 hour
Pattern: Channel Up

Channel Up identified at 28-May-04:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1912.6600 within the next 2 days.
Supported by Upward sloping Moving Average Open / Comment