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FxWirePro: ETH/USD consolidates channel breakout, eyes 1000

ETH/USD is extremely rangebound on Friday and is trading at 925 levels at the time of writing (Kraken).

On the upside, the pair faces resistance at 985 (50-DMA) and a break above would then eye 998 levels (Cloud bottom)/ 1075 (50% retracement of 1594.89 and 556). Further strength would see it testing 1100/1154 (Cloud top).

On the downside, support is seen at 895 (5-DMA) and a break below would target 857 (10-DMA)/827 (trend line joining 1594 and 1234). Further weakness would test 804 (90-EMA)/778 (February 11 low)/733 (61.8% retracement of 201.28 and 1594.89).

Momentum studies: Bias appears to be turning bullish on the daily chart with RSI holding at 50, stochs biased higher and MACD line above the signal line.

Call Update: We recommended going long in our previous call. The call still holds.

Recommendation: Hold for targets. Trail SL to 800. TP: 977/1000.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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2018-12-18 16:31:50
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2018-12-18 16:31:30
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December 18 13:55 UTC Released

USRedbook YY

Actual

7.1 %

Forecast

Previous

6.6 %

December 18 13:55 UTC Released

USRedbook MM

Actual

-0.3 %

Forecast

Previous

-0.5 %

January 31 00:00 UTC 463298463298m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 463298463298m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 475118475118m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 463298463298m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 475118475118m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 463298463298m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 463298463298m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 463298463298m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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