ETHUSD Potential for Bullish Momentum | 2nd September 2022
On the H4, with price breaking out of the descending trendline and moving above the ichimoku indicator, we have a bullish bias that price will rise from buy entry at 1559.82 where the overlap support is to the take profit at 1725.44 where the swing high resistance and 50% fibonacci retracement are. Alternatively, price could break entry structure and drop to stop loss at 1419.94 where the swing low support, 61.8% fibonacci projection and 161.8% fibonacci extension are.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
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