Ethereum Elliott Wave analysis for 14/02/2019
February 14, 2019 7:23 amVideo
Latest News
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
- Video market update for April 18, 2024 April 18, 2024
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
Technical market overview:
The ETH/USD pair has made a Shooting Star candlestick pattern with a top at the level of 125.74 USD and since then the marekt is slowly deteriorating towards the techncial support at the level of 118.01. Any violation of this level will lead to another slide down towards the lower support levels and this scenario is in line with the current Elliott Wave Principle point of view as the wave (a) of the wave C must be unfolded soon.
The key technical support for the longer-term traders is still the zone between the levels of 108.46 – 110.33 and as long as this zone is not cleary violated the sell-off will not accelerate and the swing low at the level of 98.49 will not be tested.
Please notice the bearish divergence between the price and the momentum indicator that support the short-term bearish outlook. The nearest technical support is seen at the level of 114 USD and 116.15 USD.
Weekly Pivot Points:
WR3 – 149.94
WR2 – 135.39
WR1 – 127.42
Weekly Pivot – 112.16
WS1 – 105.12
WS2 – 90.45
WS3 – 82.23
Trading recommendations:
No buy orders should be opened at the current price levels. Only the sell orders should be opened as close as possible to the level of 120.81 – 124.10 with a protective stop loss placed above the level of 127.59 The first target for shorts is seen at the levels of 118.01 and 116.15. The second target is technical support at the level of 114.00 and 112.15.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: