ETHUSD Potential for Bullish Rise to 50% Fibonacci line
Looking at the H4 chart, my overall bias for ETHUSD is bullish, as there is a strong ascending trend line. The price may retest at the trend line before it goes up. Looking for a pullback but entry at 1493.22 where the 23.6% Fibonacci line is, take profit at 2209.8 where the 50% Fibonacci line is, and the stop loss is at 1076.30 which is the overlap swing low.
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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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