OctaFX Analytics

2021-07-15 10:38:26 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPUSD

Target Level: 1.3801
Target Period: day
Interval: 1 hour
Pattern: Triangle

Triangle identified at 15-Jul-04:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.3801 within the next day.
Supported by Downward sloping Moving Average Open / Comment

2021-07-15 10:30:18 #intraday_trading

Check out our intraday trading idea

EURUSD is possibly bullish

Technical analysis
The price trades above EMA(50) and EMA(100)
The EMA(50) and EMA (100) cross, which is favourable for opening an order
The EMA(50) is above EMA(100), which is advantageous for bulls
The MACD indicator is above 0, with the signal line staying neutral
The RSI is above 50

Key levels
Support 1.18000 1.17735
Resistance 1.18535 1.18805

Learn more Open / Comment

2021-07-15 10:14:15 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDJPY

Target Level: 109.6300
Target Period: 4 hour
Interval: 1 hour

Possible bearish price movement towards the support 109.6300 within the next 4 hours.
Supported by Downward sloping Moving Average Open / Comment

2021-07-15 10:12:51 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURUSD

Target Level: 1.1884
Target Period: 2 days
Interval: 4 hour
Pattern: Resistance

Approaching Resistance level of 1.1884 identified at 14-Jul-20:00
Supported by Upward sloping Moving Average Open / Comment

2021-07-15 09:19:03 #daily_forecast

DAILY FORECAST :

#EURUSD will likely remain within range today
#EURGBP will likely keep rising
#SPX500 will likely remain within range today

DETAILED INFORMATION IS HERE Open / Comment

2021-07-15 07:36:05 #XAUUSD #weekly_outlook

Gold mid-term outlook (Daily chart)

Technical analysis:
The RSI, which is above 50, together with the CCI indicates possible movement upwards.
The price is close to MA (200), suggesting a possible downwards movement.

Fundamental:
Gold climbed to a four-week high as inflation concerns boosted demand for the metal as a store of value while Federal Reserve Chair Jerome Powell reassured investors on the outlook for stimulus.
The weakness of the U.S dollar, caused by the amount of stimulus entering the market, might be a good for real assets, such as precious metals and digital assets

What the possible outcomes are :
The key levels are 1,798 and 1,828.
After breaking through the level of 1,828, the next target might be at 1,857.
If the price fails to hold above the 1,798 level, we may see a decline to the support level of 1,768.
A decrease in the price under this support level will lead gold to 1,739 and 1,709. Open / Comment

2021-07-15 07:00:13 TODAY’S HIGHLIGHTS

Retail Sales, China
Gross Domestic Product, China
Claimant Count Change, UK
Fed Chair Powell Testifies, USA
Consumer Price Index, New Zealand

This affects:

CNY and its subsequent pairs
GBP and its subsequent pairs
USD and its subsequent pairs
NZD and its subsequent pairs


ECONOMIC CALENDAR Open / Comment

2021-07-15 06:19:55 ​​ Good to know

How to set a Stop Loss using the ATR (Average True Range) indicator.
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ATR makes traders’ life easier by showing the volatility for the selected timespan (default value is 14 candlesticks).
When trading significant levels, you may need to decide where to set Stop Loss (SL) even without any visible levels and structures.

And you usually want to set Stop Loss as low as possible.

To do so, you need the ATR value, which indicates the current market volatility. Therefore, you can set SL based on the ATR value and make your decision depending on the technical analysis and strategy.

The most common SL is 2×ATR. You can set such SL from the current level, when you enter the order upon the correction or reversal of the price. Such SL provides you with enough space to keep trading within your strategy. But if it triggers, this means the market went opposite your prediction. Open / Comment

2021-07-14 14:26:28 TRADING IDEA
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Trading system - AUTOCHARTIST

#AUDUSD

Target Level: 0.7502
Target Period: 2 days
Interval: 1 hour
Pattern: Triangle

Triangle identified at 14-Jul-10:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 0.7502 within the next 2 days. Open / Comment

2021-07-14 14:25:24 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPUSD

Target Level: 1.3910
Target Period: 2 days
Interval: 1 hour
Pattern: Rising Wedge

Rising Wedge identified at 14-Jul-14:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.3910 within the next 2 days.
Supported by Upward sloping Moving Average Open / Comment