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Big miss in PPI (cooler inflation)… Bonds up (yields down), USD down, stocks up
ETH price to $3.5K first? Why Ethereum bears are growing louder
· Ether bears are getting louder as the price remains rangebound.
· Declining spot volume signals weak demand and increasing ETH price vulnerability.
· ETH price could drop to $3,500 if key support levels are lost.
Ether ETHUSD remains stuck in the $4,200-$4,500 range for two weeks, amid decreasing spot and institutional demand. This has made some traders bearish, eyeing ETH price falling to $3,500 before any potential recovery.
Market sentiment turns negative
The choppiness in Ether’s price, coupled with Bitcoin’s recent drop below $100,000, saw a shift in market sentiment as “sell calls” intensified
Traders have changed their tunes, swinging more and more negatively with expectations of Bitcoin falling back below $100K, Ethereum back below $3.5K
An accompanying chart shows a surge in keywords like “selling” and “bearish” since late August, when Ether hit its $4,950 all-time high.
However, markets often move opposite the crowd’s expectations, which could actually be “signalling an ideal buy time”
Don’t Sell XRP? Bollinger Bands Point to Pain for Shorts
XRP has been stuck in a sideways drift, hanging around the $3 mark for the past few weeks. At first glance, the price chart looks sluggish enough to give short sellers, also known as “bears,” confidence.
But the way the Bollinger Bands are shaping up across time frames suggests something less obvious, and it is exactly this kind of setup that tends to punish those betting against the trend.
The $2.90 midline on the daily candles has become a balancing point, where the market keeps changing direction. Dips below it do not last long but, at the same time, rebounds above stall just before the upper band at $3.09. When prices do this, it is usually not just a slow fade but a real surge. TradingView”>
To make this setup for XRP a complete bear trap, we need a clean push through $3.10. Those who saw the flat summer action as weakness might want to think again.
XRP bears, beware
The pressure is the same in the 12-hour view, only more immediate. XRP spent almost all of August below the midline, finally broke through this September and now remains strong even though volumes are on the low side.
Now the bands are starting to widen, which often signals that the next move will be a quick one. The risk here is not that XRP pulls back — it is that the price rises too quickly for traders who have become too pessimistic.
On the surface, it may seem as though the XRP price is stalling, but the Bollinger Bands offer a deeper message: the easy short could be the wrong one, and bears who jump in too early may be walking straight into a trap.
FX option expiries for 10 September 10am New York cut
After the largest downwards annual revision on record to US jobs yesterday here, it just continues to reaffirm the narrative that the Fed should move faster to cut rates. Still, it’s not enough to trigger a spark for traders to price in a 50 bps move next week. The onus on that will fall on the US CPI report tomorrow it would seem; provided the inflation numbers are softer than anticipated.
The dollar remains in a more tentative and vulnerable spot, but not facing another bout of selling just yet. The lack of expiries today will be accompanied by a lack of key economic releases in Europe, so that will keep things quieter in the session ahead.
That said, just be wary of potential geopolitical headlines that could stir things up. The Israel-Qatar situation yesterday was one before we got a new development in the Russia-Ukraine conflict here.
Right mouse click – Open image in the new tab – to see it BIG
Euro Holds Near $1.17 Ahead of ECB Decision and US Inflation Data
The euro traded around $1.17 as investors looked to Thursday’s European Central Bank meeting and upcoming US inflation figures for guidance on monetary policy.
ECB officials are widely expected to leave interest rates unchanged for a second consecutive meeting, as trade uncertainty lingers and eurozone inflation holds steady at target for a third straight month.
In the US, inflation is projected to have accelerated to 2.9% in August, up from 2.7% in July and the highest level since January.
Softer labor market data last week bolstered expectations of a Federal Reserve rate cut in September, with markets increasingly pricing in the possibility of a larger-than-usual move depending on the inflation outcome.
On the political front, French President Emmanuel Macron appointed Sébastien Lecornu as the country’s new prime minister, following the ousting of François Bayrou in a parliamentary confidence vote over budget plans.
EURUSD
Why (Amazing Trader) levels matter.
Paused below high of the day (1.17185), now back to 1.17 (neutral).
Stops tend to be above/below high/low of the day so 1.1682 and 1.17185 are the key levels., more significant ones are below the low.
EURUSD 15 MINUTE CHART
Using my platform as a Heatmap shows…
… the dollar trading mixed with the AUD and NZD modest outperformers.
EURSD is back to 1.17 after holding JP’s 1.1680-85 support after an initial reaction to Poland shooting down Russian drones over its airspace.
Key economic focus is on US PPI after a sharp rise in July.
On order of strength vs the USD*
1. AUD
2. NZD
3. GBP (unchanged)
4. CHF
5. CAD
6. EUR
7. JPY
CHF, CAD, EUR, JPY all down just marginally
EURUSD tests sub-1.17… this may have been the catalyst (scroll below for the headline posted earlier)
Sept 10 (Reuters) – Polish and allied aircraft were activated early on Wednesday to ensure the safety of Poland’s airspace after Ukraine’s air force warned that Russian drones entered NATO-member Poland’s airspace.
“Polish and allied aircraft are operating in our airspace, while ground-based air defence and radar reconnaissance systems have been brought to the highest state of readiness,” Poland’s operational command said in a post on X.,,,truncated
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