Octa Analytics

11 Jun 2024 19:18

GBPJPY, 15-minute timeframe chart

GBPJPY retested the resistance level of 200.340

👉Level explanation
GBPJPY has been trading in a sideways market for the last couple of hours. The pair moved up to the resistance level of 200.340.

👉Possible scenario
The best way to use this opportunity is to place a Sell order at 200.247.

Set your stop loss at 200.561 above the previous high ($2.00 loss for 0.01 lot) and take profit at 199.933 ($2.00 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

11 Jun 2024 15:12

GBPJPY, 15-minute timeframe chart

GBPJPY formed a bullish Hammer pattern

👉General outlook
GBPJPY has been trading in a sideways market within the last day. Now, the price displays a bullish Hammer pattern.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 200.000.

Set your stop loss at 199.690 below the previous low ($1.98 loss for 0.01 lot) and take profit at 200.310 ($1.98 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

11 Jun 2024 13:37

USDCAD, 1-hour timeframe chart

USDCAD retested the support level of 1.37500

👉 General outlook
USDCAD has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 1.37500.

👉 Possible scenario
The best way to use this opportunity is to place a Buy order at 1.37831.

Set your stop loss at 1.37335 below the previous low ($3.61 loss for 0.01 lot) and take profit at 1.38327 ($3.61 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

11 Jun 2024 10:34

💸 GBPUSD fell sharply on weaker-than-expected U.K. labour data

The British pound (GBP) tried to recover on Monday after a stronger-than-expected Friday's U.S. nonfarm payroll (NFP) report.

👉 Possible effects for traders
Last week's U.S. employment report has fueled speculation that the Federal Reserve (Fed) will maintain higher interest rates for an extended period. The stronger-than-expected nonfarm payroll (NFP) data has bolstered the U.S. dollar. Futures traders are now pricing in nearly a 47% chance of a rate cut at the September meeting, down from 68% before the NFP report, according to the CME FedWatch tool.

U.K. inflation slowed in April, but less than expected, supporting GBPUSD. However, price pressures remain a significant challenge for the U.K. economy. The three-month Gross Domestic Product (GDP) average began to rise from zero in February but has largely remained weak. Year-on-year comparisons were stagnant from December to February, with a modest increase of 0.7% in March.

Today, GBPUSD rose ahead of the U.K. Labour Force Survey report but fell sharply after its release. The report revealed that employment decreased by 140,000, and the unemployment rate increased towards 4.4% in April, up from 4.3% in March. The unemployment rate has been rising for five consecutive months. A weak labour market increases the chances of a rate cut by the Bank of England (BOE) and pushes GBPUSD down. Traders are now awaiting tomorrow's crucial releases: U.K. Gross Domestic Product (GDP) at 6:00 a.m. UTC, the U.S. Consumer Price Index (CPI) at 12:30 p.m. UTC, and the Federal Reserve (Fed) interest rate decision at 6:00 p.m. UTC. These events will significantly impact GBPUSD and determine its future trend direction.

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Octa Analytics

11 Jun 2024 10:09

🕯 Gold moves sideways ahead of tomorrow's key U.S. updates

Yesterday, XAUUSD rose by 0.74% after the strongest drop on Friday, the largest since November 2020.

👉 Possible effects for traders
The publication of a strong employment report last week forced the market to adopt a more hawkish outlook on U.S. monetary policy this year. Investors still expect the start of monetary policy easing, but there is no extra optimism. The market will closely monitor Wednesday's Federal Open Market Committee (FOMC) interest rate decision and the key U.S. Consumer Price Index (CPI) report to determine when the Federal Reserve (Fed) may start cutting rates. Thus, tomorrow's inflation report for May will be the most important information that will directly affect the Fed's decisions later in the day. Moreover, the Fed will present economic projections and 'dot-plot' reports. The updated forecasts on the U.S. monetary policy path are expected to show a smaller reduction in interest rates than previously predicted.

Regarding the gold market, there have been changes in the supply and demand ratio. The People's Bank of China has stopped buying gold after 18 months of continuous purchases. However, China's buying will likely resume when XAUUSD declines from the record highs reached in May. The factors that may support the bullish trend in gold remain in place, according to fundamental analysis. For example, an industry official told Reuters that Vietnam is expected to allow companies to import gold for the first time in over a decade, trying to limit the widening gap between local prices and international benchmarks.

XAUUSD has stabilised at the support level of 2,300.00, and the pair may continue moving sideways. The market is waiting for tomorrow's reports: U.S. inflation data at 12:30 p.m. UTC and the Fed interest rate decision at 6:00 p.m. UTC. These reports may move the market and increase volatility in the Forex market, particularly in gold.

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Octa Analytics

11 Jun 2024 06:36

AUDUSD, 1-hour timeframe chart

AUDUSD retested the support level of 0.65930

👉Level explanation
AUDUSD has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 0.65930.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 0.65975.
Set your stop loss at 0.65755 below the previous low ($2.20 loss for 0.01 lot) and take profit at 0.66195 ($2.20 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

10 Jun 2024 20:49

#economic_calendar

These events may affect the market on 11 June.

🔥 Don't forget to get a 50% deposit bonus!

Octa Analytics

10 Jun 2024 15:14

GBPJPY, 15-minute timeframe chart

GBPJPY formed a bearish Engulfing pattern

👉 Level explanation
GBPJPY has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 199.800. Now, the price displays a bearish Engulfing pattern.

👉 Possible scenario
The best way to use this opportunity is to place a Sell order at 199.520.

Set your stop loss at 199.875 above the previous high ($2.27 loss for 0.01 lot) and take profit at 199.165 ($2.27 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

10 Jun 2024 12:24

​​#weekly_outlook

🔎 Keeping up-to-date with the market helps you make better trading decisions

Here’s a Weekly Market Outlook for 10 – 14 June from Vito Henjoto. Stay informed and trade wisely.

We wish you a successful trading week!

Octa Analytics

10 Jun 2024 10:39

💸 EUR drops on solid U.S. jobs report

The euro (EUR) dropped by 0.8% on Friday as the U.S. Dollar Index (DXY) surged following a stronger-than-expected nonfarm payroll (NFP) report.

👉 Possible effects for traders
The DXY, which measures the U.S. dollar's value against six other major currencies, increased by 0.8%, marking its best daily gain since 10 April. U.S. nonfarm payroll numbers increased by 272,000 in May, exceeding the forecasted 185,000. Average hourly earnings rose by 0.4%, up to 4.1% year-over-year. The unemployment rate increased towards 4% from 3.9% in April. By the end of the previous week, the DXY gained 0.2% as strong jobs data countered weaker macroeconomic statistics, decreasing the chances of two 25-basis-point rate cuts by the Fed in 2024.

The markets and the Fed are heavily influenced by the crucial payrolls report. It's not just the headline figure that matters, but also the higher-than-expected wage numbers,' said David Rosenberg, founder and president of Rosenberg Research in Montreal. The Federal Open Market Committee (FOMC) is expected to keep rates unchanged at its policy meeting this Wednesday. Following the solid jobs data release, the rate futures market has priced in just one 25-basis-point cut this year at the November or December meeting, according to LSEG's rate probability app. The likelihood of a rate cut in September fell to approximately 50.8% after the NFP report, down from around 70% on Thursday. A more hawkish outlook on the U.S. interest rate path exerts downward pressure on EURUSD.

EURUSD gapped on Monday and sharply dropped by 0.5% during the Asian trading session after French President Emmanuel Macron called a snap election following his defeat by Marine Le Pen's far-right party in the European Union vote. Investors in Europe start the week amid uncertainty over global interest rates and the region's political landscape. The European Parliament has shifted to the right, with more Eurosceptic nationalist representatives. The euro is now trying to find support and will likely stop near 1.07400–1.07300.

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Octa Analytics

10 Jun 2024 10:13

GBPUSD, 30-minute timeframe chart

GBPUSD formed a bullish Three White Soldiers pattern

👉 General outlook
GBPUSD has been trading in a bearish trend within the last day. Now, the price displays a bullish Three White Soldiers pattern.

👉 Possible scenario
The best way to use this opportunity is to place a Buy order at 1.2722.

Set your stop loss at 1.2702 below the previous low ($2.00 loss for 0.01 lot) and take profit at 1.2742 ($2.00 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

10 Jun 2024 09:04

Want to learn more? Follow the link to watch the show.

And remember—You Too Can!

Octa Analytics

10 Jun 2024 06:30

​​#webinars_schedule #education

📲 Webinars are now always at your fingertips—in the Octa Trading App on your Android smartphone. To access the Webinars section in the app menu, make sure you have installed the latest update.

🔎 Apply filters to find videos for your learning needs. Set notifications for upcoming webinars to catch the moment when a live stream starts.

👋 Join and learn more about trading:

🇬🇧 10/06, 7 p.m. SAST – ENGLISH – Live trading session with Isaac Izy
🇬🇧 11/06, 8 p.m. WIB – ENGLISH – Webinar 'News trading. Theory and practice' with Vito Henjoto
🇬🇧 13/06, 6 p.m. WAT – ENGLISH – Live trading session with Tunmise Olaoluwa
🇲🇾 13/06, 9 p.m. MYT – MALAY – Live trading session with Cikgu Danie
🇮🇩 14/06, 7:15 p.m. WIB – INDONESIAN – Live trading session with Andre Rizky

Octa Analytics

07 Jun 2024 18:50

USDJPY, 1-hour timeframe chart

USDJPY retested the support level of 156.500

👉Level explanation
USDJPY has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 156.500.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 156.630.
Set your stop loss at 156.258 below the previous low ($2.37 loss for 0.01 lot) and take profit at 157.002 ($2.37 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

Some traders may close their positions on Friday, which can add more pressure to the market.

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Octa Analytics

07 Jun 2024 12:18

BTCUSD, 1-hour timeframe chart

BTCUSD retested the support level of 71,000.00

👉Level explanation
BTCUSD has been trading in a sideways market for the last couple of hours. The pair moved down to the support level of 71,000.00.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 71,319.98.

Set your stop loss at 70,024.78 below the previous low ($12.95 loss for 0.01 lot) and take profit at 72,615.17 ($12.95 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

📝Fundamental factors
The U.S. Nonfarm Payroll report will be released in a few hours and could affect this trade.

Some traders may close their positions on Friday, which can add more pressure to the market.

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Octa Analytics

11 Jun 2024 17:58

XAUUSD, 1-hour timeframe chart

XAUUSD retested the resistance level of 2,320.00

👉Level explanation
XAUUSD has been trading in a bullish trend for the last couple of hours. The pair moved up to the resistance level of 2,320.00.

👉Possible scenario
The best way to use this opportunity is to place a Sell order at 2,311.90.

Set your stop loss at 2,332.09 above the previous high ($20.19 loss for 0.01 lot) and take profit at 2,291.71 ($20.19 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

11 Jun 2024 14:28

BTCUSD, 1-hour timeframe chart

BTCUSD retested the support level of 66,600.00

👉 General outlook
BTCUSD has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 66,600.00.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 67,119.27.

Set your stop loss at 65,640.97 below the previous low ($14.78 loss for 0.01 lot) and take profit at 68,597.57 ($14.78 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

11 Jun 2024 10:45

EURUSD, 15-minute timeframe chart

EURUSD broke the support level of 1.07610

👉 Level explanation
EURUSD has been trading in a bearish trend for the last couple of hours.

👉 Possible scenario
The best way to use this opportunity is to place a Sell order at 1.07600.
Set your stop loss at 1.07750 above the previous high ($1.50 loss for 0.01 lot) and take profit at 1.07450 ($1.50 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

11 Jun 2024 10:23

💸 EURUSD rebounds after yesterday's political turmoil

The euro (EUR) fell on Monday but found support at the 1.07330 level and almost recovered all its losses.

👉 Possible effects for traders
French President Emmanuel Macron is reportedly attempting to unite left-wing and centrist parties against right-wing politicians but has had little success so far. The initial opinion poll indicates that the far-right National Rally party might win the snap election, though they would likely fall short of securing an absolute majority of votes. French stocks and government debt were unsettled as investors evaluated the potential for the right wing to replicate their success in French elections and the influence far-right parties might wield in the new European Union executive. Bond yields rose across Europe, with the gap between French and German debt widening significantly.

The European market has demonstrated resilience as U.S. Treasury yields rose following Friday's jobs report and the subsequent reduction in expectations for rate cuts by the Federal Reserve (Fed) this year. 'We see diminished prospects for easing this year and now expect the first Fed cut only in November,' analysts at JPMorgan said.

EURUSD rose slightly during the Asian and early European trading sessions. Today, the economic calendar doesn't feature any major events that could cause increased volatility in the market. As the market enters a new week, investors are watching for any changes in U.S. economic indicators and European political tremors. Several ECB representatives will deliver their speeches today, potentially triggering volatility in EURUSD. The euro may continue to move sideways. However, if the pair's price breaks above 1.07800, we will likely see an increase towards 1.07900 and possibly further.

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Octa Analytics

11 Jun 2024 09:53

USDJPY, 15-minute timeframe chart

USDJPY broke the resistance level of 157.300

👉 Level explanation
USDJPY has been trading in a bullish trend for the last couple of hours.

👉 Possible scenario
The best way to use this opportunity is to place a Buy order at 157.330.
Set your stop loss at 157.130 below the previous low ($1.28 loss for 0.01 lot) and take profit at 157.530 ($1.28 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

10 Jun 2024 21:05

‼️ Join Octa Analytics VIP

Unlock premium signals, exclusive offers, and important events to boost your trading success.

To become a member of Octa Analytics VIP, follow these easy steps:

1️⃣ Make sure you have $50 or more in your account.
2️⃣ Take a screenshot of your balance and send it along with your Octa real account ID to our @octa_vip_bot chatbot.
3️⃣ Await verification—usually, it’s completed within one business day.

Ready to take your trading to the next level? Let us steer you toward success. The sooner you join, the more you’ll benefit from our elite trading community!

💯 Limited-time offer 💯 Don’t miss the opportunity to use the BONUSVIP100 promo code for a 100% deposit bonus!

Octa Analytics

10 Jun 2024 19:52

EURUSD, 15-minute timeframe chart

EURUSD retested the support level of 1.07510

👉General outlook
EURUSD has been trading in a sideways market for the last couple of hours. The pair moved down to the support level of 1.07510.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 1.07580.

Set your stop loss at 1.07400 below the previous low ($1.80 loss for 0.01 lot) and take profit at 1.07760 ($1.80 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

10 Jun 2024 14:14

USDCAD, 30-minute timeframe chart

USDCAD formed a bearish Three Black Crows pattern

👉 General outlook
USDCAD has been trading in a bullish trend within the last day. Now, the price displays a bearish Three Black Crows pattern.

👉 Possible scenario
The best way to use this opportunity is to place a Sell order at 1.37649.

Set your stop loss at 1.37880 above the previous high ($1.68 loss for 0.01 lot) and take profit at 1.37419 ($1.68 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

10 Jun 2024 10:48

🇦🇺 AUD falls towards a four-week low on strong U.S. jobs data

The Australian dollar (AUD) fell below 0.66000, reaching its lowest level in four weeks. The currency dropped as the U.S. dollar (USD) strengthened on robust U.S. jobs data, diminishing the likelihood of two Federal Reserve (Fed) interest rate cuts this year.

👉Possible effects for traders
The U.S. economy added significantly more jobs than anticipated in May, and annual wage growth picked up the pace, highlighting the labour market's strength. The data reduced the likelihood of the anticipated 25-basis-point rate cut in September, prompting traders to adjust their expectations for the timing and extent of future Fed rate cuts. The probability of a rate decrease in September has now dropped towards approximately 50%, down from around 70% late on Thursday.

Investors turned cautious ahead of the Federal Reserve's monetary policy decision and a U.S. inflation report this Wednesday. Last week, data revealed that Australia's economy grew by 0.1% in Q1, down from 0.3% in the previous quarter, falling below market expectations of 0.2%. However, markets see almost no chance of the Reserve Bank of Australia (RBA) easing its monetary policy this year. RBA Governor Michele Bullock stated last week that they would not hesitate to act if inflation remains persistent. Still, she noted that the risks for rates and inflation are currently balanced. Bullock also acknowledged that the labour market is easing and that the latest GDP data was quite low.

AUDUSD rebounded from 0.65800 during the Asian trading session. Today, the macroeconomic calendar is relatively uneventful, so the pair will likely continue to move downwards. This week, the main events are the U.S. Consumer Price Index (CPI) report at 12:30 p.m. UTC and the U.S. interest rate decision at 6:00 p.m. UTC on Wednesday. These events could significantly impact the Forex market and the AUDUSD exchange rate. The Fed is not expected to change its policy at the meeting, but traders should pay attention to officials' comments and the updated economic projections from policymakers.

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Octa Analytics

10 Jun 2024 10:19

🔽 Gold plunges significantly on strong NFP data

Gold (XAU) fell by 3.57% on Friday after stronger-than-expected U.S. jobs data reduced the likelihood of a soon interest rate cut by the Federal Reserve (Fed) this year.

👉 Possible effects for traders
Last Friday, the nonfarm payroll (NFP) report showed that the U.S. economy added 272,000 jobs in May, nearly 100,000 above market expectations. Higher-than-expected numbers demonstrated the labour market's resilience. As a result, the probability of a rate cut by the Fed in September has dropped to around 50% from about 70% prior to the report. China's central bank also contributed to the bearish sentiment by halting gold purchases in May after an 18-month streak of continuous buying. Gold experienced a significant drop, which hadn't been seen since August 2020.

This is a strong report, and it suggests that there are no signs of any cracks in the labour market,' said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. 'It's a plus for the economy and a plus for corporate earnings, but it's a negative in terms of the prospects of a rate cut, perhaps as early as September,' he added. Following the jobs report, the benchmark 10-year U.S. Treasury yields surged by over 15 basis points towards 4.4335%, marking their largest one-day increase in about two months.

XAUUSD has been moving below 2,300 in the Asian and early European trading sessions. Today's trading session is likely to be relatively quiet as the economic calendar features no major news releases. The key levels for XAUUSD are 2,300 and 2,280.

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Octa Analytics

10 Jun 2024 09:36

BTCUSD, 15-minute timeframe chart

BTCUSD retested the support level of 69,390.00

👉 General outlook
BTCUSD has been trading in a bearish trend for the last couple of hours. The pair moved down to the support level of 69,390.00.

👉 Possible scenario
The best way to use this opportunity is to place a Buy order at 69,440.00.

Set your stop loss at 69,190.00 below the previous low ($25.00 loss for 0.01 lot) and take profit at 69,690.00 ($25.00 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.

The upcoming news will not influence your orders within the mentioned period.

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Octa Analytics

10 Jun 2024 08:59

It's time to review the 10th episode of You Too Can and see what you've learned!

Octa Analytics

07 Jun 2024 21:04

‼️ Join Octa Analytics VIP

Unlock premium signals, exclusive offers, and important events to boost your trading success.

To become a member of Octa Analytics VIP, follow these easy steps:

1️⃣ Make sure you have $50 or more in your account.
2️⃣ Take a screenshot of your balance and send it along with your Octa real account ID to our @octa_vip_bot chatbot.
3️⃣ Await verification—usually, it’s completed within one business day.

Ready to take your trading to the next level? Let us steer you toward success. The sooner you join, the more you’ll benefit from our elite trading community!

💯 Limited-time offer 💯 Don’t miss the opportunity to use the BONUSVIP100 promo code for a 100% deposit bonus!

Octa Analytics

07 Jun 2024 12:51

Attention to the most important event of the week! At 12:30 p.m. UTC, check the nonfarm payroll report.

Analysts expect 180,000 new jobs to be added in May. If the actual numbers meet or fall below this forecast, the U.S. dollar may decline, increasing the chances of a rate cut in September. Conversely, stronger-than-expected figures will boost the currency and reduce the likelihood of an autumn rate reduction.

Usually, the nonfarm payroll report causes high volatility, so fasten your belts and update your trading portfolio in the Octa app

#Trading #Forex #WeeklyTradingCalendar #MarketUpdates #Investing

Octa Analytics

07 Jun 2024 10:35

🕯 Today's NFP data may define the XAUUSD trend

The gold (XAU) rose by 0.87% on Thursday as the U.S. Dollar Index (DXY) weakened after a softer-than-expected U.S. Jobless Claims report.

👉 Possible effects for traders
Yesterday's Jobless Claims report invigorated the U.S. dollar's bears, causing the DXY to fall by 0.16%. According to the report, the number of unemployment benefit claims rose to 229,000, compared to a forecast of 216,000. Weak labour market data weakened the U.S. dollar and pushed XAUUSD up. If U.S. data continues to show a persistent slowdown in the economy, it could prompt the Federal Reserve (Fed) to cut interest rates soon, especially considering that inflation has slowed to around 3%. Overall, gold is rising on the expectation of a rate cut by the Fed in September.

Gold prices are expected to hit another record high this year despite a decrease in physical demand, consultancy Metals Focus said. For example, the Perth Mint reported that gold sales in May dropped to their lowest level since March. Still, continuing tensions between the U.S. and China, conflicts in Ukraine and the Middle East, and the possibility of imminent rate cuts support the price of gold. The spot gold price remained nearly unchanged at around 2,377, while U.S. gold futures rose by 0.2% to 2,396.

XAUUSD rose during the Asian trading window but experienced a decline in the early hours of the European session. Markets today are waiting for the U.S. nonfarm payroll (NFP) data, which will cause increased volatility and affect the U.S. dollar and all related pairs. The latest U.S. macroeconomic data revealed that inflation is slowing, creating room for potential rate cuts by the Fed as early as September. Thus, today's NFP data will be significant as it may support or disprove investors' dovish stance on the U.S. interest rate path. If the NFP numbers are higher than expected, the U.S. dollar will rise, while gold may return towards 2,360. Otherwise, XAUUSD may rise towards 2,400 on weaker-than-expected figures.

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