OctaFX Official

2021-10-11 15:50:02 #intraday_trading

Check out our intraday trading idea

#EURUSD is possibly bullish

Most likely scenario - BUY
Target prices: 1.15791 1.15861 1.16056

Alternative scenario - SELL
Target prices: 1.15691 1.15595 1.15413

Key levels
Support 1.15691 1.15595 1.15413
Resistance 1.15791 1.15861 1.16056

Learn more Open / Comment

2021-10-11 14:47:36 TRADING IDEA
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Trading system - AUTOCHARTIST

#CADJPY

Target Level: 90.4052
Target Period: 7 hours
Interval: 30 minutes
Pattern: Rising Wedge

Rising Wedge has broken through the support line at 11-Oct-13:30. Possible bearish price movement forecast for the next 7 hours towards 90.4052. Open / Comment

2021-10-11 14:44:01 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPUSD

Target Level: 1.3774
Target Period: 3 days
Interval: 1 hour
Pattern: Resistance

Broke through Resistance level of 1.3650 at 11-Oct-10:00
Supported by Upward sloping Moving Average Open / Comment

2021-10-11 10:45:00 #webinars_schedule

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

11/10, 7 PM WIB - BAHASA INDONESIA Q&A session with Vito Henjoto

11/10, 8 PM PKT - URDU Live trading session with Ashraf Noor

12/10, 9 PM IST - HINDI Live trading session with Manish Patel

12/10, 9 PM MYT - ENGLISH Live trading session with Kar Yong Ang

13/10, 7 PM WIB - BAHASA INDONESIA Live trading session with Vito Henjoto

13/10, 7 PM PKT - URDU Q&A session with Mateen Awan

13/10, 6 PM WAT - ENGLISH Webinar 'How to Use Fundamental Analysis in Trading' with Tunmise Olaoluwa

14/10, 7 PM WIB - BAHASA INDONESIA Live trading session with Eko Bagus Setiawan

14/10, 9 PM IST - HINDI Live trading session with Manish Patel

15/10, 9 PM IST - HINDI Q&A session with Manish Patel Open / Comment

2021-10-11 08:18:02 #EURUSD #weekly_outlook

EURUSD weekly outlook (4 hour chart)

Technical analysis:
The RSI(14) and the RSI(3) suggest possible upwards moving.
The price broke the upper line of the bearish price channel and was able to gain a foothold above the level of 1.15595.

Fundamental:
The EURUSD rose after poor job report. U.S. headline payrolls data soft but details show strength of economy's recovery.

What the possible outcomes are :
In the most likely scenario, we may see an upwards movement towards the resistance level of 1.15868.
If the pair breaks above this level, we can expect a continued surge towards the 1.16056 and 1.16383.
Contrarily, the pair may decline towards the support level of 1.15595.
If the pair drops below this support level, we can expect a continued downtrend towards the 1.15413 and 1.15130. Open / Comment

2021-10-11 07:47:29 #XAUUSD #weekly_outlook

Gold weekly outlook (4 hour chart)

Technical analysis:
The RSI(14) and the RSI(3) both under 50 line, indicating prevailing downtrend.
The Ichimoku Kinko Hyo suggest a downtrend.
The price is under the EMA(24) and EMA(120) which is advantage for bears.

Fundamental:
Gold finished the week with slight decline to 1,750 USD on Friday after rising more than 1% on U.S. jobs data miss. Traders came to terms with the possibility the Federal Reserve could still begin reduce stimulus this year.

What the possible outcomes are :
Despite the bearish sentiment, an upward correction to 1,758 and 1,767 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 1,746 will lead the gold to the following levels of 1,740 and 1,732. Open / Comment

2021-10-08 16:15:00 ​​#education

Understanding trading levels

In our previous post, we learned what trading levels are. Today we're going to learn how to understand them.

There are two types of trading levels: support and resistance.

A support level is the price 'floor', a concentration of recent and current minimal prices. So it is usually marked with green on the charts.
A resistance level is the price 'ceiling', so the price cannot go above this level. This level is the concentration of the highest recent and current prices, usually marked with red on charts.

The levels are drawn from right to left, from more current prices to older ones.

Any level has strength. The level strength is determined by the number of touches and the size of the timeframe. The higher the timeframe, the stronger the level. For example, the resistance level on the weekly chart is stronger than the daily one.

If you’re looking for a comfortable entry point, a shorter stop-loss, and bigger trading volume, find strong support and resistance Open / Comment

2021-10-08 15:45:49 #intraday_trading

Check out our intraday trading idea

#EURUSD is possibly bullish

Most likely scenario - BUY
Target prices: 1.15822 1.15922 1.15985

Alternative scenario - SELL
Target prices: 1.15753 1.15691 1.15634

Key levels
Support 1.15753 1.15691 1.15634
Resistance 1.15822 1.15922 1.15985

Learn more Open / Comment

2021-10-08 15:06:24 TRADING IDEA
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Trading system - AUTOCHARTIST

#AUDUSD

Target Level: 0.7226
Target Period: 2 days
Interval: 4 hour

Rising Wedge identified at 08-Oct-12:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.7226 within the next 2 days. Open / Comment

2021-10-08 15:04:22 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURJPY

Target Level: 129.9893
Target Period: 2 days
Interval: 4 hour

Falling Wedge has broken through the resistance line at 08-Oct-08:00. Possible bullish price movement forecast for the next 2 days towards 129.9893.
Supported by Upward sloping Moving Average Open / Comment