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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
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
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here: https://t.co/CPxP1Q8B6d https://t.co/n2wESiqnpJ
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:https://t.co/HpH8pXFdLl https://t.co/laHmaZXpJe
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/TF6DRVp6kX https://t.co/WEtxkdSwxD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
  • The #Dollar has bottoming potential, but that is starting to lose weight as it fails to sustain any lift; next week could be a big one for #USD’s near-term outlook. Get your #currencies update from @PaulRobinsonFX here: https://t.co/IifHjik7gM https://t.co/R9b4jdTPnO
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/lW1rqjpy0x
  • I’d like to thank my followers, I just reached 5,000 which is quite a milestone for someone that isn’t a huge fan of the platform. Thank you all very much ❤️
  • Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty. Get your #equities update from @PeterHanksFX here: https://t.co/yH8oTwT3iW https://t.co/tvfrXThyaC
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/Xi9QU3ADPF
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/cQwbeZ6Feq
Ripple, Ethereum Face Key Technical Levels- XRP/USD & ETH/USD Prices Outlook

Ripple, Ethereum Face Key Technical Levels- XRP/USD & ETH/USD Prices Outlook

2020-01-16 15:10:00
Mahmoud Alkudsi, Analyst
Share:

XRP/USD & ETH/USD Technical Forecast

  • Ripple and Ethereum price action
  • XRP/USD & ETH/USD price charts and technical analysis

Ripple, Ethereum – Multi- Week High

Last week, Ripple rallied to its highest level in four weeks at $0.226. The price closed the weekly candlestick in the green with nearly 8.8% gain. On Tuesday, the crypto currency resumed trading higher and peaked at $0.245. Similarly, Ethereum rallied then closed the weekly candlestick with 8.5% gain. Yesterday, the price rose to $171.8 – its highest level in eight weeks.

This week, the Relative Strength Index (RSI) has remained above 50 reflecting that buyers were in control.

Ripple Daily PRice CHART (AUg 8, 2018 – JAn 16, 2020) Zoomed Out

Ripple daily price chart 16-01-20 Zoomed out
USD Forecast
USD Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q1 USD Forecast
Get My Guide

Ripple Daily Price CHART (Sep 25 – JAn 16, 2020) Zoomed in

Ripple daily price chart 16-01-20 Zoomed in

Looking at the daily chart, we notice that on Sunday Ripple closed above the 50-Day average producing a bullish signal. Thus, the price could be on its way for a test of the high end of current trading zone $0.174 - $0.280.

A close above the high end of the zone may convince buyers to push XPR/USD towards $0.311. Further close above this level might cause more bullishness towards $0.375. In that scenario, the weekly resistance levels underscored on the chart (zoomed in) should be kept in focus.

On the other hand, a close below the low end of the zone could resume bearish price action towards $0.128 contingent on clearing the weekly support level underlined on the chart.

Ethereum Daily PRice CHART (OCt 20, 2018 – JAn 15, 2020) Zoomed Out

Ethereum daily price chart 16-01-20 Zoomed out
How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Mahmoud Alkudsi
Improve your trading with IG Client Sentiment Data
Get My Guide

Ethereum Daily PRice CHART (AUG 25 – JAn 15, 2020) Zoomed In

Ethereum daily price chart 16-01-20 Zoomed in PNG

From the daily chart, we notice on Jan 10 ETH/USD closed above the 50-Day Average generating a bullish signal. In the following week, the crypto currency rushed to a higher trading zone $152.17 - $186.98.

A close above the high end of the zone could lead more buyers to join the market and rally the ETH/USD towards $203.42. Yet, the weekly resistance levels underlined on the chart (zoomed in) should be considered as some traders may exit/join the market nearby these points.

On the flip side, a close below the low end of the zone may lead buyers to exit the market. This could reverse the price’s direction towards $125.86. Further close below this level opens the door for sellers to press towards 100.34. Nevertheless, the weekly support levels marked on the chart should be monitored.

Just getting started?See our Beginners’ Guide for FX traders

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES