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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
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
More View more
Real Time News
  • What is your forex trading style? Take the quiz and find out:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today:
Ethereum Doubles in Price From July's Low; More to Come?

Ethereum Doubles in Price From July's Low; More to Come?

Nick Cawley, Strategist

Talking Points

- Ethereum has more than doubled in less than a month after slumping on flash-crash worries and Bitcoin fork fears.

- There’s still plenty of upside room before ETH’s all-time high is reached but will the latest rally need a breather first?

Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017

The recent slump in the value of Ethereum, from an all-time high of $412 on June 12 to its recent nadir of $136 on July 16, has seemingly been consigned to the past as the digital token continues to rebound, more than doubling to a current level of $304. But will the market need to take a breather, or will it need a fresh bout of good news, before the token takes another run at its all-time peak?

After the ‘flash crash’ of June 21 when ETH got slammed from $317 to touch a ‘spike low’ of just $0.10 before rebounding straight back, confidence in the second-largest digital token by market capitalization evaporated. Ethereum fell back to a multi-week low of $136, aided in part by concerns about a fork in the blockchain ecosystems and worries that the rush of ICOs, priced mainly in Bitcoin and Ethereum, had run its course. Faith however was soon restored in Ethereum’s functionality and long-term prospects, with many seeing it as the main long-term contender to Bitcoin. And when the blockchain hard fork went through without any problems, ETH, along with the rest of the cryptocurrency space, got another boost higher.

Chart: Ethereum (ETH) Price: Daily Timeframe (May 19– August 9, 2017)

Ethereum Doubles in Price From July's Low; More to Come?

And looking at the chart above, a spinning-top doji formed on Wednesday and may cause the latest rally to stall. A spinning-top Doji signals weakness in the current trend, as buyers and sellers equal each other causing market indecision, but it does not normally signal a trend reversal. The current price around $305 is also just on the 61.8% Fibonacci retracement of the June 12 – July 16 high/low move and if ETH closes above this level ($305.58) it may provide a level of support before a potential move higher to the 0.786% retracement level of $353.

Market Moves/Top 10 Capitalizations – August 10, 2017

Ethereum Doubles in Price From July's Low; More to Come?

And a look at the market capitalization table above highlights that NEO continues to blaze a trail, up in excess of 41% in the last 24 hours. The joint moves across all the cryptocurrency space have pushed the overall market capitalization to just over $123 billion.

If you are interested in trading cryptocurrencies and would like to practice trading either BTC or ETH, you can create a Quick and Free Demo Account Here

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

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