ETHUSD Analysis: If the attack fails for a long time, Ethereum may fall.
Fundamental Analysis of USDJPYETHUSD Key Takeaways
- ECB rate cut: The ECB cut interest rates for the seventh time since the middle of last year, and emphasized after the meeting that the eurozone’s economic growth prospects have deteriorated due to the intensification of trade tensions. Traders increased their bets on further rate cuts by the ECB this year, and it is expected that there will be three more rate cuts this year. After the ECB meeting, the euro fell further and the German bond yield hit a new low for the day.
- US-EU trade negotiations: Trump claimed that he was 100% confident that he could reach a trade agreement with the EU. Although trade negotiations may be positive and the surge in crude oil has boosted energy stocks, due to the current export control and antitrust threats, it is difficult for technology giants to regain their momentum, and financial reports have suppressed medical stocks. The US stock market still had a difficult rebound on Friday.
Technical Analysis of ETHUSDDaily and Hourly ChartsETHUSDDaily Chart Insights
(ETHUSDDaily Price Chart, Source: Ultima Markets MT5)
- Stochastic oscillator:The indicator slowly moved up after leaving the oversold area, and the distance between the fast and slow lines narrowed, suggesting that the current trading sentiment is extremely low and there is no clear direction for the time being.
- Resistance price: In the context of low liquidity, pay attention to the support and resistance strength of the exchange rate. There are many resistances above the current market price. The purple 13-day moving average is the first resistance level, and 1676.24 is the second resistance level.
ETHUSD2-hour Chart Analysis
(ETHUSD H2 Price Chart, Source: Ultima Markets MT5)
- Stochastic oscillator: The indicator sent a short signal during the Asian session, which is contrary to the direction of the daily cycle, and the market price showed an obvious sideways fluctuation trend. In the short term, wait for the indicator to enter a certain direction extreme area before paying attention to trend trading opportunities.
- Swing trend: The market price is in a sideways fluctuation range, the purple moving average crosses the black 65-period moving average, and the black moving average shows signs of flattening. It is worth paying attention to the intraday short-term swing trading strategy.
ETHUSDPIVIOT INDICATOR
ETHUSDM30, source: Ultima Markets APP)
- According to the trading central pivot line indicator of Ultima Markets APP, the central price of the day is 1623,
- Bullish above 1623, first target 1673, second target 1702
- Bearish below 1623, first target 1525, second target 1495
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