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AUDUSD, 15-minute timeframe chart

AUDUSD formed a bullish Doji pattern

👉General outlook
AUDUSD has been trading in a bearish trend for the last couple of hours. Now, the price displays a bullish Doji pattern. The price is ready to rise.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 0.66715.

Set your stop loss at 0.66550 below the previous low ($1.65 loss for 0.01 lot) and take profit at 0.66880 ($1.65 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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September's gold outlook: 3 factors to watch
Gold's outlook is positive due to 3 key factors in September 2024: global monetary policy, geopolitical uncertainty, and increased demand in China and India. Central banks are expected to lower interest rates, making gold more appealing. Military conflicts and upcoming elections create instability, increasing demand for the safe-haven asset. China and India's growing demand for gold is expected to rise further.
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#Trading #Forex #Gold #MarketUpdates
It's time for important market news!
You don't want to miss this.
Thursday, 12 September, 12:15 p.m. UTC: The ECB interest rate decision.
The European Central Bank (ECB) will announce its interest rate decision, with expectations of a 25-bps cut. Investors should closely watch for any upcoming details in the Monetary Policy Statement for insight into Eurozone interest rates. The ECB President Lagarde will hold a press conference at 12:45 p.m. UTC to provide potential clues about monetary policy changes. This could impact the short-term trend in EURUSD, possibly reaching 1.10800 or dropping below 1.10200, depending on inflation forecasts and Lagarde's tone.
What does this news mean for your strategy? Let us know below.
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#Trading #Forex #WeeklyTradingCalendar #MarketUpdates #Investing
USDCAD, 15-minute timeframe chart

USDCAD retested the resistance level of 1.35850

👉General outlook
USDCAD has been under buying pressure within the last couple of hours. The pair moved up to the resistance level of 1.35850.

👉Possible scenario
The best way to use this opportunity is to place a Sell order at 1.35840.

Set your stop loss at 1.36030 above the previous high ($1.40 loss for 0.01 lot) and take profit at 1.35650 ($1.40 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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USDJPY, 30-minute timeframe chart

USDJPY retested the resistance level of 142.500

👉Level explanation

USDJPY has been under buying pressure within the last couple of hours. The pair moved up to the resistance level of 142.500.

👉Possible scenario

The best way to use this opportunity is to place a Sell order at 142.500.

Set your stop loss at 143.100 above the previous high ($4.21 loss for 0.01 lot) and take profit at 141.700 ($5.61 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.33.

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

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#economic_calendar

This event may affect the market on 13 September.

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GBPJPY, 15-minute timeframe chart

GBPJPY retested the support level of 185.050

👉General outlook
GBPJPY has been trading in a bearish trend within the last day.

👉Possible scenario
The best way to use this opportunity is to place a Buy order at 185.120.

Set your stop loss at 184.440 below the previous low ($4.82 loss for 0.01 lot) and take profit at 185.800 ($4.82 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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XAUUSD, 15-minute timeframe chart

XAUUSD retested the resistance level of 2,568.00

👉Level explanation
XAUUSD has been trading in a bullish trend within the last day. The pair moved up to the resistance level of 2,568.00.

👉Possible scenario
The best way to use this opportunity is to place a Sell order at 2,567.50.

Set your stop loss at 2,575.40 above the previous high ($7.90 loss for 0.01 lot) and take profit at 2,559.60 ($7.90 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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🚀 BTC gains 1.35% as odds of a 50-bps Fed rate cut rise

Bitcoin (BTC) rose by 1.35% on Thursday as the chances of a 50-basis-point (bps) rate cut by the Federal Reserve (Fed) in September have increased.

👉 Possible effects for traders

Thursday's higher-than-expected U.S. Jobless Claims data and a Wall Street Journal article discussing the Fed's rate cut dilemma have reignited expectations for a significant rate cut in September, said Christopher Wong, currency strategist at OCBC. Traders are now pricing in a 45% chance of a 50-bps rate cut at the next meeting on 18 September, up from 14% just a day earlier, according to the CME FedWatch Tool. Overall, markets anticipate 116 bps of rate reductions across the remaining three Fed meetings this year. Former New York Fed President Bill Dudley commented on Friday that there is a strong case for a 50-bps cut, noting that current rates are 150–200 bps above the neutral rate, where monetary policy is neither restrictive nor accommodative. ‘So the question is: “Why don’t you just get started?”’ he commented.

Crypto analyst Titan of Crypto has pointed out a bullish indicator—the Golden Cross—on Bitcoin's 2-month chart, suggesting a significant price rally could be near. This pattern foreshadowed major gains in the past, as seen in 2021 when Bitcoin surged from $13,000 to over $60,000. The analyst believes the much-anticipated rally could start in October, with Bitcoin's bullish outlook intact as long as it stays above $49,900. Titan of Crypto also predicts Bitcoin could reach $120,000 by 2025 if it breaks above $71,000 in this market cycle.​

BTCUSD moved sideways during the Asian and early European trading sessions. Today, traders should focus on the U.S. Michigan Consumer Sentiment Index report due at 2:00 p.m. UTC. Lower-than-expected figures may increase the chances of a 50-bps rate cut at the 18 September Fed meeting and push BTCUSD higher. Otherwise, if the figures are higher than expected, Bitcoin may fall towards $55,600.

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🚀 EURUSD rally continues as ECB hints at hawkish stance

The euro (EUR) gained 0.57% against the U.S. dollar (USD) on Thursday after Christine Lagarde, the President of the European Central Bank (ECB), downplayed expectations for another interest rate cut next month.

👉 Possible effects for traders

As expected, the ECB lowered its deposit rate yesterday by 25 basis points (bps) towards 3.5% and cut its refinancing rate by 60 bps towards 3.65%. However, in its post-meeting statement, the ECB reiterated that service inflation remains high and that the regulator will keep rates sufficiently restrictive for as long as necessary. Additionally, Christine Lagarde clarified that the future trajectory of interest rates is not set in stone and that the central bank will make decisions on a case-by-case basis, avoiding any pre-determined commitments. The market generally treated the decision as a ‘hawkish cut’ and pulled EURUSD above the critical 1.10500 level.

Indeed, the rally in EURUSD occurred despite yesterday's U.S. Producer Price Index (PPI) data actually being higher than expected. At the same time, the Jobless Claims report was slightly weaker than expected, keeping investors hoping for a sizeable 50-bps rate cut by the Federal Reserve (Fed) next week. Overall, the current divergence in monetary policy expectations between the ECB and the Fed continues to favour the euro. The latest interest rates swap market data implies just 50 bps worth of cuts by the ECB and more than 100 bps by the Fed by the end of 2024.

EURUSD rose during the Asian and early European trading sessions. Today, the key event is the U.S. Consumer Sentiment Report publication by the University of Michigan (UoM) at 2:00 p.m. UTC. The report will contain the latest data on U.S. consumers' financial confidence and inflation expectations—leading economic indicators—that may impact the Fed's rate decision next week. Higher-than-expected figures will likely push EURUSD lower, but not significantly. Conversely, lower-than-expected results will almost certainly pull the pair above 1.11000.

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🚀 Gold hit a new record high

Gold (XAU) rocketed by 1.89% on Thursday. XAUUSD broke above the major $2,530 resistance level and established a new all-time high after the U.S. reports were released.

👉 Possible effects for traders

Gold prices surged due to expectations of a potential Federal Reserve (Fed) rate reduction amid indications of a decelerating U.S. economy. The U.S. Department of Labor reported yesterday that initial claims for unemployment benefits increased by 2,000 towards a seasonally adjusted level of 230,000, exceeding a forecast of a 1,000 decrease. Simultaneously, U.S. producer prices increased by 0.2% in August, slightly more than the expected 0.1%, owing to rising service expenses, although the general trend indicated a decrease in inflation. According to CME's FedWatch Tool, market expectations are now split—there is a 55% likelihood of a 25-basis-point interest rate cut at the Fed meeting on 18 September, with a 45% possibility of a 50-bps decrease.

The outlook for gold continues to be highly positive, as central banks' purchases were higher in the previous quarter, and technology use has also increased, according to the World Gold Council. U.S. elections are likely to have an impact on gold prices, as well as geopolitical risks. ‘Spot gold may extend gains to $2,590 per ounce, as it has climbed far above a consolidation range of $2,473 to $2,529,’ Reuters analyst Wang Tao commented on the short-term perspective for gold.

Gold has continued to move higher during Asian and early European trading sessions. The price hit the $2,570 resistance level. Today, the market waits for the Michigan Consumer Sentiment Index report at 2:00 p.m. UTC. A higher-than-expected number may trigger a downward correction, while a lower-than-expected one may fuel further gold's rally.

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📊 U.S. Elections: ‘Harris trade’ takes shape

Vice-President Kamala Harris, a Democratic candidate, and former President Donald Trump, a Republican nominee, met in an ABC-hosted debate in Philadelphia on Tuesday. Political commentators and news media generally agree that Harris outperformed Trump. Her percieved chances of winning the presidency improved by 55%, while that of Trump dropped towards 47%, according to PredicIt, an online prediction market. The shares of Trump Media & Technology Group, perhaps the most sensitive stock to Trump's chances of winning in the 2024 elections, declined sharply. At the same time, a bullish reaction was in sectors associated with Harris' political agenda. For example, a number of U.S.-listed solar companies rose in value while the Chinese yuan strengthened.

👉 Possible effects for traders

On the other hand, the value of the U.S. dollar decreased during and after the debate as investors generally believed that Harris' potential victory may lead to lower borrowing costs and a more stable international trade environment. Concurrently, the gold price rose partly due to the weaker U.S. dollar and partly due to uncertainty about whether Harris can effectively tackle the current geopolitical risks.

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AUDUSD, 30-minute timeframe chart

AUDUSD retested the resistance level of 0.67320

👉Level explanation
AUDUSD has been trading in a bullish trend within the last day. The pair moved up to the resistance level of 0.67320.

👉Possible scenario
The best way to use this opportunity is to place a Sell order at 0.67141.

Set your stop loss at 0.67454 above the previous high ($3.13 loss for 0.01 lot) and take profit at 0.66828 ($3.13 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.

📲 More trading opportunities in our app

If the link doesn’t work, try a special one for your country:
🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH
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EURUSD, 15-minute timeframe chart

EURUSD retested the resistance level of 1.10870

👉Level explanation

EURUSD has been trading in a bullish trend within the last day. The pair moved up to the resistance level of 1.10870.

👉Possible scenario

The best way to use this opportunity is to place a Sell order at 1.10870.

Set your stop loss at 1.10990 above the previous high ($1.20 loss for 0.01 lot) and take profit at 1.10690 ($1.80 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.5.

👉Fundamental factors

The U.S. Consumer Sentiment 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.

📲 More trading opportunities in our app

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BTCUSD, 15-minute timeframe chart

BTCUSD broke the support level of 57,760.00

👉Level explanation

BTCUSD has been trading in a sideways market within the last day.

👉Possible scenario

The best way to use this opportunity is to place a Sell order at 57,720.00.

Set your stop loss at 58,420.00 above the previous high ($7.00 loss for 0.01 lot) and take profit at 57,020.00 ($7.00 profit for 0.01 lot).

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

👉Fundamental factors

The U.S. Consumer Sentiment 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.

📲 More trading opportunities in our app

If the link doesn’t work, try a special one for your country:
🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH
Weekly crypto analysis: Bitcoin overview for 13 September
Bitcoin has been correcting since mid-March 2024 after a late 2023–early 2024 rally. Price held 0.618 Fibonacci level at 55,000.00 on the weekly chart, showing a bullish mid/long-term outlook. Daily timeframe reveals price rebounding from 0.618 Fibo level 3 times, forming falling wedge pattern and turning MACD green. The price is likely heading to a 0.786 Fibonacci level at 63,300.00 with resistance at SMA200. Fed interest rate decision may impact Bitcoin's long-term prospects.
What are your thoughts on this news? Let us know in the comments!
Want to trade with this information? To get started, follow the link in our bio.
#Trading #Forex #WeeklyTradingCalendar #MarketUpdates #Investing
GBPUSD, 15-minute timeframe chart

GBPUSD retested the resistance level of 1.31500

👉Level explanation

GBPUSD has been trading in a bullish trend within the last day. The pair moved up to the resistance level of 1.31500.

👉Possible scenario

The best way to use this opportunity is to place a Sell order at 1.31500.

Set your stop loss at 1.31650 above the previous high ($1.50 loss for 0.01 lot) and take profit at 1.31250 ($2.50 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.67.

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.

📲 More trading opportunities in our app

If the link doesn’t work, try a special one for your country:
🇮🇩ID 🇮🇳IN 🇵🇰PK 🇹🇭TH
‼️ 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!