OctaFX Analytics

2021-07-19 09:37:03 #EURUSD #weekly_outlook

EURUSD mid-term outlook (Daily chart)

Technical analysis:
The RSI, which is under 50, indicates possible movement downwards.
The price is under Kijun-sen of Ichimoku indicator, suggesting that the downwards movement may prevail.

Fundamental:
The market is really trading on the uncertainty in the air around COVID. Decisive ECB policy action to back up the new policy framework could trigger a fresh euro sell off at a time when other major central banks are moving closer to raising rates.

What the possible outcomes are :
The EUR/USD is under pressure. We may see a downwards correction towards 1.17748 .
If the price fails under this level, we can expect a continued downtrend towards the next support level of 1.17500.
Contrarily, the pair may rise towards the resistance level of 1.18446.
If the pair manages to surpass this resistance level, we should expect a continued surge towards the resistance level of 1.19145. Open / Comment

2021-07-19 09:36:54 Open / Comment

2021-07-19 09:30:06 #webinars_schedule

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

19/07, 7 PM WIB - BAHASA INDONESIA Live trading session with Vito Henjoto

20/07, 9 PM IST - HINDI Live trading session with Manish Patel

20/07, 9 PM MYT - ENGLISH Live trading session with Kar Yong Ang

20/07, 7 PM WIB - BAHASA INDONESIA Webinar 'Corrective Trend Trading' with Eko Bagus Setiawan

21/07, 7 PM WIB - BAHASA INDONESIA Q&A session with Vito Henjoto

22/07, 9 PM IST - HINDI Live trading session with Manish Patel

22/07, 7 PM WIB - BAHASA INDONESIA Live trading session with Eko Bagus Setiawan

23/07, 9 PM IST - HINDI Q&A session with Manish Patel Open / Comment

2021-07-19 09:10:36 #weekly_forecast

Week Jul 19 - 25

Market focus

MARKET PARTICIPANTS AWAIT KEY EUROPEAN CENTRAL BANK POLICY DECISION

During the upcoming week traders and investors look to key interest rate decisions from the European Central Bank, at a time when other major central banks are starting to sound more hawkish towards monetary policy. Market participants will be awaiting ECB President Christine Lagarde’s latest thoughts on rates, QE, inflation, growth, and the central bank’s progress towards a digital currency.

Key events:

Monday 19th July, BOE Member Haskel Speech

Tuesday 20th July, RBA Meeting Minutes

Wednesday 21st July, Bank of Japan Meeting Minutes

Thursday 22nd July, ECB Interest Rate Decision

Friday 23rd July, EU Manufacturing PMI


Read more details here Open / Comment

2021-07-19 08:51:12 #XAUUSD #weekly_outlook

Gold mid-term outlook (4 hour chart)

Technical analysis:
The RSI, which is under 50, together with the CCI indicates possible movement downwards.
The price is under MA (200), suggesting that the downwards movement may prevail.

Fundamental:
Gold trimmed a fourth weekly gain as Treasury yields clawed back some losses made in the wake of dovish comments from Federal Reserve Chair Jerome Powell.

What the possible outcomes are :
The crucial level is 1,810 .
If the price fails under the 1,810 level, we may see a decline to the next support level at 1,796.
A decrease in the price under this support level will lead the gold to the following levels of 1,739 and 1,709.
Contrarily, the pair may rebound from 1,810 and rise towards the resistance level of 1,826.
If the pair manages to surpass this resistance level, we should expect a continued surge towards the resistance level of 1,856. Open / Comment

2021-07-19 08:51:02 Open / Comment

2021-07-16 13:15:53 #intraday_trading

Check out our intraday trading idea

EURGBP is possibly bullish

Technical analysis
The price trades above EMA(50) and EMA(100)
EMA(50) is above EMA(100), which is advantageous for the bulls
The MACD indicator is slightly above 0 and is pointing up
The RSI is above 50

Key levels
Support 0.85251 0.85093
Resistance 0.85538 0.85663

Learn more Open / Comment

2021-07-16 10:23:30 TRADING IDEA
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Trading system - AUTOCHARTIST

#XAUUSD

Target Level: 1810.5780
Target Period: 20 hours
Interval: 1 hour
Pattern: Triangle

Triangle has broken through the support line at 16-Jul-09:00. Possible bearish price movement forecast for the next 20 hours towards 1810.5780. Open / Comment

2021-07-16 10:21:27 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURNZD

Target Level: 1.7098
Target Period: 2 days
Interval: 4 hour
Pattern: Channel Up

Channel Up identified at 15-Jul-08:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.7098 within the next 2 days. Open / Comment