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
EUR/USD
Bullish
Oil - US Crude
Bullish
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bullish
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
Bearish
More View more
Real Time News
  • The US Dollar is pressured as rising coronavirus cases fail to dent 2021 GDP bets. Could the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit rise? Find out from @ddubrovskyFX here:https://t.co/u1qhaIGGoC https://t.co/O2i6DZLkIB
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.02% Oil - US Crude: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/8fnXlqvZEz
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.07% 🇨🇭CHF: 0.05% 🇬🇧GBP: 0.01% 🇯🇵JPY: -0.06% 🇦🇺AUD: -0.09% 🇳🇿NZD: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/T8ma15KmYS
  • RT @DanielGMoss: #JacindaArdern’s balancing act with China may fuel further gains for the trade-sensitive $NZD $AUDNZD Head and Shoulders…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.85%, while traders in US 500 are at opposite extremes with 73.24%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tUOYKl0cyo
  • Okay so what's China CPI today? Its changed like 3 times on Bloomberg
  • Since the stock market bottomed back in March, the S&P 500 has gone on to climb over 40%. Get your S&P500 market update from @FxWestwater here: https://t.co/Ff7iHAUObN https://t.co/bLO6xva4Fw
  • 🇦🇺 Investment Lending for Homes (MAY) Actual: -15.6% Previous: -4.2% https://www.dailyfx.com/economic-calendar#2020-07-09
  • 🇦🇺 Home Loans MoM (MAY) Actual: -10.2% Previous: -5.0% https://www.dailyfx.com/economic-calendar#2020-07-09
  • 🇨🇳 Inflation Rate MoM (JUN) Actual: -0.1% Expected: 0% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2020-07-09
Ethereum Prices Hit Two-Month High, 385 in Sight

Ethereum Prices Hit Two-Month High, 385 in Sight

2017-08-29 16:00:00
Michael Boutros, Strategist
Share:

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

ETH/USD Daily Chart

ETHUSD Daily Timeframe

Technical Outlook:Ethereum prices rallied to two-month highs today after breaking above the monthly opening-range highs last week. The trade remains constructive while above 314/20 with more the next level of interest eyed at the record high-day close at 385.

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

ETH/USD 240min Chart

ETHUSD 240min Timeframe

Notes:Earlier this month we noted that Ethereum prices had, “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.”

This slope has continued to guide price action with today’s breach above the 78.6% retracement at 347 keeping the long-bias in play. Interim resistance targets are eyed at 374 backed by 385- Note that this level also converges on parallel resistance into the close of the month.

Interim support now back at the median-line with bullish invalidation now raised to 320. From a trading standpoint, if you’re not already long, look for pullback to offer more favorable entries targeting the upper parallel.

Ethereum Prices Hit Two-Month High, 385 in Sight

---

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

News & Analysis at your fingertips.