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EconoTimes

Digital Currency Revolution

FxWirePro: ETH/USD upside capped by 10-DMA, bias lower

Tuesday, August 21, 2018 11:12 AM UTC
0
comments

(Refer ETH/USD chart on Trading View)

ETH/USD dropped to 268 levels on Monday as it failed to hold above 300.

It is currently trading at 282 levels at the time of writing (Coinbase).

On the upside, immediate resistance is seen at 291 (10-DMA) and a consistent break above would target 300/334 (21-EMA)/365 (3h 200-SMA)/400.

On the flipside, support is seen at 265 (78.6% retracement of 250 and 322) and any violation would drag it to 250 (August 14 low)/ 230/200.

Bias remains bearish on the daily chart with RSI and stochs near oversold levels. The pair has found support near 78.6% fib and a break below will see it re-testing 250 levels.

Call update: We recommended going short in our previous call. TP1 has been hit.

Recommendation: Bias lower, stay short. SL: 340. TP: 250.

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Economics Monitor

February 18 03:30 UTC Released

THAnnual GDP Growth

Actual

4.1 Percent

Forecast

Previous

3.9 Percent

February 18 02:30 UTC Released

THGDP Growth QQ SA

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0.8 %

Forecast

0.6 %

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January 31 00:00 UTC 552121552121m

ARAnnual Primary Balance*

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2016 bln ARS

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January 22 19:00 UTC 563941563941m

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-1541 %

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2016 bln ARS

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January 22 19:00 UTC 563941563941m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 552121552121m

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 552121552121m

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 552121552121m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

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