OctaFX Official

2021-10-25 10:52:32 #XAUUSD #weekly_outlook

Gold weekly outlook (4 hour chart)

Technical analysis:
The RSI(14) and the RSI(3) both indicate possible downwards correction.
The price is above the EMA(24) and EMA(120) which is advantage for bulls.

Fundamental:
Gold prices pulled back after U.S. Federal Reserve Chair Jerome Powell said he expected inflation to ease next year and that the U.S. central bank was on track to begin winding down its stimulus.

What the possible outcomes are :
Despite the bearish sentiment, an upwards correction to 1,800, 1,806 and 1,813 is possible.
Any upward movement might be seen as correction and good opportunity for opening short positions.
Contrarily, a decrease in the price under crucial support level of 1,790 will lead the gold to the following levels of 1,785 and 1,778. Open / Comment

2021-10-25 10:39:35 #EURUSD #weekly_outlook

EUR/USD weekly outlook (4 hour chart)

Technical analysis:
The RSI(14) and the RSI(3) suggest possible upwards moving.
The price is above the EMA(50) which is advantage for bulls.

Fundamental:
The EURUSD recovered towards 1.16550 after U.S. Federal Reserve Chair Jerome Powell said he expected inflation to ease next year.

What the possible outcomes are :
In the most likely scenario, we may see an upwards movement towards the resistance level of 1.16713.
If the pair breaks above this level, we can expect a continued surge towards the 1.16865 and 1.17041.
Contrarily, the pair may decline towards the support level of 1.16396.
If the pair drops below this support level, we can expect a continued downtrend towards the 1.6236 and 1.16085. Open / Comment

2021-10-25 10:25:42 #webinars_schedule

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

25/10, 7 PM WIB - BAHASA INDONESIA Q&A session with Vito Henjoto

25/10, 8 PM PKT - URDU Live trading session with Ashraf Noor

26/10, 9 PM IST - HINDI Live trading session with Manish Patel

26/10, 9 PM MYT - ENGLISH Live trading session with Kar Yong Ang

27/10, 7 PM WIB - BAHASA INDONESIA Live trading session with Vito Henjoto

27/10, 7 PM PKT - URDU Q&A session with Mateen Awan

28/10, 7 PM WIB - BAHASA INDONESIA Live trading session with Eko Bagus Setiawan

28/10, 10 PM MYT - [BAHASA MELAYU] Webinar 'How to Start Trading Gold' with Gero Azrul

28/10, 9 PM IST - HINDI Live trading session with Manish Patel

29/10, 9 PM IST - HINDI Q&A session with Manish Patel Open / Comment

2021-10-25 07:09:21 TODAY’S HIGHLIGHTS

IFO - Business Climate, Germany

This affects:
EUR and its subsequent pairs

ECONOMIC CALENDAR Open / Comment

2021-10-22 16:15:00 ​​#education

As promised last week, today we’re going to continue our talk on Price Action.

The most well-known Price Action pattern is Pin Bar.

This pattern is a formation that occurs before a local trend change.
The Pin Bar candlestick pattern can signal the beginning of a trend change, even before trend indicators were able to detect it.
Therefore, the Pin Bar is a reversal pattern consisting of two candlesticks.

The upper or the lower candlestick (based on bullish or bearish trend direction) is called a reversal candlestick, has a small body, a long shadow on one side and a small shadow on the other. The first candlestick (usually on the left) can be of any kind. The long shadow of the reversal candlestick goes towards the initial trend direction, and the candlestick body is located between the highest and lowest levels of the first candle.

Note that the high/low of the reversal candlestick coincides with the local high/low on the chart. Open / Comment

2021-10-22 15:23:36 #intraday_trading

Check out our intraday trading idea

#EURUSD is possibly bearish

Most likely scenario – SELL
Target prices: 1.16166 1.16074

Alternative scenario – BUY
Target prices: 1.16525 1.16680

Key levels
Support 1.16166 1.16074
Resistance 1.16525 1.16680

Learn more Open / Comment

2021-10-22 14:34:07 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDCAD

Target Level: 1.2288
Target Period: 2 days
Interval: 1 hour

Channel Down identified at 22-Oct-09:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.2288 within the next 2 days.
Supported by Downward sloping Moving Average Open / Comment

2021-10-21 12:29:46 TRADING IDEA
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Trading system - AUTOCHARTIST

#AUDUSD

Target Level: 0.7378
Target Period: 3 days
Interval: 1 hour
Pattern: Channel Up

Channel Up identified at 21-Oct-09:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.7378 within the next 3 days. Open / Comment

2021-10-21 12:27:47 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPJPY

Target Level: 156.9110
Target Period: 21 hour
Interval: 1 hour
Pattern: Support

Approaching Support level of 156.9110 identified at 21-Oct-09:00
Supported by Downward sloping Moving Average Open / Comment

2021-10-21 12:25:59 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDCAD

Target Level: 1.2362
Target Period: day
Interval: 30 minutes
Pattern: Falling Wedge

Falling Wedge identified at 21-Oct-09:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.2362 within the next day.
Supported by Upward sloping Moving Average Open / Comment