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ETHUSD (4HR)
Ethereum has entered a bearish trend, failing to maintain its position above the $2,050 mark and dipping below $2,040 and looking like its forming a compression inside a bearish pennant on the 3-day chart. The price has also broken below a bullish trend line, with support now around $1950.
On the higher timeframe, the Ethereum price chart shows a classic post-drop consolidation. The structure remains intact, however confirmed break below support would validate the formation where it can even reach below $1500
USDJPY UPDATE:
- Post-election downtrend showing signs of running out of steam after repeated support (higher lows) in the 152s.
- However, a firm break of 153.75 is what would be needed to confirm USDJPY has lost momentum and shift the risk to 154.65, which guards a return to 155.
- Otherwise, focus stays on 153, a level that has printed 4 days in a row..
USDJPY 4 HOUR CHART
XAUUSD UPDATE
- Unable to shake its focus from $5000, which has traded for the 3rd day in a row (and 6 out of the past 8 days) and will eventually be the level that dictates whether bulls will or will not regain control.
- US holiday, China starting its week long Lunar holiday,US-Iran and Russia-Ukraine talks in Geneva tomorrow may be retraining the market.
- Intra-day range:4965-5043 (see chart)
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XAUUSD 1 HOUR CHART
Newsquawk Daily Asia=Pac Opening New
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ETHUSD UPDATE
- Similar to BTCUSD (currently testing 70K+) ETHUSD showing tentative signs of life with higher lows (1741 and 1894) and trading back above 2000
- However, there is a long way to go (3040) before the downtrend would be fully negated.
- In the meantime, 2000 needs to become support followed by a break of 2148 to build upward momentum.
- Otherwise, dependent on 1894 needs to hold as support to keep a bid and thoughts away from the low
ETHUSD DAILY CHART
Another US carrier going to the ME
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Newsquawk US Market Wrap Part 2
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Newsquawk US Market Wrap Part 1
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