OctaFX Analytics

2021-05-24 15:52:34 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURUSD

Target Level: 1.2240
Target Period: 16 hours
Interval: 30 minutes
Pattern: Resistance

Approaching Resistance level of 1.2240 identified at 24-May-13:00
Supported by Upward sloping Moving Average Open / Comment

2021-05-24 10:43:43 TRADING IDEA
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Trading system - AUTOCHARTIST

#XAUUSD

Target Level: 1889.3000
Target Period: 11 hours
Interval: 1 hour
Pattern: Ascending Triangle

Ascending Triangle identified at 24-May-02:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1889.3000 within the next 11 hours. Supported by Upward sloping Moving Average Open / Comment

2021-05-24 09:35:26 #weekly_forecast

Week May 24 - 30

Market focus

Growth and Inflation data headlines the economic docket this week

During the upcoming week traders and investors look to the release of Growth Domestic Product data from the German and United States economies, at a time when the growth prospects of many developed nations is starting to improve as the effects f the COVID-19 pandemic wane.

Key events:

Monday 24 th May, US Chicago Fed National Activity

Tuesday 25 th May, German Quarterly GDP

Wednesday 26 th May, RBNZ Rate Decision

Thursday 27 th May, US Gross Domestic Product

Friday 28 th May, US Core PCE


Read more details here Open / Comment

2021-05-22 08:12:10 #weekly_review

May 17 - 23

BITCOIN PRICE CRASH CAPTURES FINANCIAL MARKETS ATTENTION

Key events:

Bitcoin crash
Bitcoin incurred its steepest one-day price drop since March 2020 this week as a series of bearish news catalysts caused the broader cryptocurrency market to sink deeply into negative territory.

Tech watch
Technology stocks came under heavy selling pressure this week over fears about the cryptocurrency market crash, which saw $800 billion of market value wiped-off digital assets.

Altcoin crash
Altcoins suffered heavy losses this week, as the extended price decline in the value of Bitcoin, and outages in the world’s two largest cryptocurrency exchanges caused traders to become nervous towards crypto.

Sterling spotlight
The British pound incurred bouts of markets volatility against the US dollar and euro currency, following the release of a number of important United Kingdom macroeconomic data points.

Read more details here Open / Comment

2021-05-21 10:55:50 TRADING IDEA
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Trading system - AUTOCHARTIST

#NZDUSD

Target Level: 0.7114
Target Period: 3 days
Interval: 4 hour
Pattern: Support

Broke through Support level of 0.7181 at 20-May-00:00
Supported by RSI above 60 Open / Comment

2021-05-21 10:54:09 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURUSD

Target Level: 1.2051
Target Period: 2 days
Interval: 4 hour
Pattern: Channel Up

Channel Up identified at 20-May-00:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.2051 within the next 2 days.
Supported by RSI above 60 Open / Comment

2021-05-21 07:00:06 TODAY’S HIGHLIGHTS

Gfk Consumer Confidence, UK
Retail Sales, Australia
Retail Sales, UK
Markit Manufacturing PMI, Germany
Markit Manufacturing PMI, UK
Retail Sales, Canada
Markit Manufacturing PMI, USA

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

ECONOMIC CALENDAR Open / Comment

2021-05-20 14:30:32 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDCHF

Target Level: 0.8960
Target Period: 2 days
Interval: 1 hour
Pattern: Falling Wedge

Falling Wedge identified at 20-May-11:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.8960 within the next 2 days.
Supported by Downward sloping Moving Average Open / Comment

2021-05-20 14:26:03 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPUSD

Target Level: 1.4220
Target Period: 3 days
Interval: 1 hour
Pattern: Rising Wedge

Rising Wedge identified at 20-May-14:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.4220 within the next 3 days. Open / Comment

2021-05-20 09:30:56 TRADING IDEA
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Trading system - AUTOCHARTIST

#NZDUSD

Target Level: 0.7196
Target Period: day
Interval: 15 minutes
Pattern: Resistance

Approaching Resistance level of 0.7196 identified at 20-May-06:45
Supported by Upward sloping Moving Average Open / Comment