News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
More View more
Real Time News
  • RT @SarahPonczek: Nearly 38 million call options traded today, *the most EVER* https://t.co/Fyz7eLLAK4
  • USD/CAD breaks back above 1.28 for the first time since December $USD $CAD https://t.co/OLgvVd9Auo
  • #Bitcoin declining with other risk assets, now down almost 5% $BTC $USD https://t.co/xEiHkCsJZ4
  • All in all, the earnings from FB, AAPL and TSLA were pretty encouraging. If not for the broader souring of sentiment, their post-earnings reactions would have been much different in my opinion Read more and watch today's webinar recording - https://www.dailyfx.com/forex/market_alert/2021/01/27/Nasdaq-100-Forecast-Bears-Battle-Retail-Traders-as-Tech-Earnings-Arrive.html
  • There goes the $VIX. Question is whether this is a mere pressure relief like June 11, Sep 3 or Oct 26; or if this is a more systemic volatility reversion. $SPX overlaid for price context https://t.co/SJzbyl2ejq
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.18% 🇬🇧GBP: -0.34% 🇪🇺EUR: -0.39% 🇨🇦CAD: -0.86% 🇦🇺AUD: -1.08% 🇳🇿NZD: -1.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/b5eO6T3ZCd
  • 🇳🇿 Balance of Trade (DEC) Actual: N$17M Previous: N$252M https://www.dailyfx.com/economic-calendar#2021-01-27
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.36% Gold: -0.44% Silver: -1.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zAPVcD9BiS
  • SEC working with regulators to assess market volatility situation
  • Apple earnings recap: Revenue: $111.42B VS $103.12B est EPS: $1.68 vs $1.42 est $AAPL shares drop -1% initially despite beat
Ethereum at Risk Near-term as Prices Rally to Fresh Monthly Highs

Ethereum at Risk Near-term as Prices Rally to Fresh Monthly Highs

Michael Boutros, Strategist

To receive Michael’s analysis directly via email, please SIGN UP HERE

ETH/USD Daily Chart (Log-Scale)

ETH/USD Daily Timeframe (log-scale)

Technical Outlook: Ethereum prices broke above basic trendline resistance extending off the yearly highs with the rally now approaching more significant resistance at the confluence of the 100% ext and the 61.8% retracement at 302/14. While our broader outlook remains weighted to the topside, the immediate advance is at risk while below this threshold. Interim support rests at 262/70 with broader bullish invalidation set along the trendline extending off the July lows, currently ~237.

Join Michael on Friday for his bi-weekly Live Webinar on the Foundations of Technical Analysis- Register for Free Here!

ETH/USD 240min Chart

ETH/USD 240min Timeframe

Notes: A closer look at price action highlights this week’s reversal off confluence resistance at the 100% ext at 314. Ethereum has continued to trade within the confines of an ascending pitchfork formation extending off the July lows with our focus weighted to the topside while in this formation.

Look for interim support along the median-line with the focus higher while above 269/73. A breach of the highs targets the upper median-line parallel which converges on the 78.6% retracement at 347.From a trading standpoint, I’d be looking for a pullback here to ultimately offer more favorable long entries.

---

Relevant Data Releases

Economic Docket

Other Setups in Play:

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES