Top.Mail.Ru
empty
31.10.2022 07:12 AM
ETHUSD Potential For Bullish Momentum | 31st October 2022

This image is no longer relevant

Looking at the H4 chart, the current overall bias for ETHUSD is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Over the last week, price had bullish momentum upwards with the price currently trading above the 1st support level at 1561.62 where 2 of the 61.8% Fibonacci lines are located. If this bullish momentum continues, expect the price to head towards the 1st resistance at 1792.55 where the previous swing high and 100% Fibonacci line is located.

Trading Recommendation

Entry: 1561.62

Reason for Entry: Buy entry where 2 of the 61.8% Fibonacci lines are located.

Take Profit: 1792.55

Reason for Take Profit: Previous high and where the 100% Fibonacci line is located

Stop Loss: 1400.00

Reason for Stop Loss:

Slightly below where the 2nd support is and where the previous swing low was

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dean Leo
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST

Recommended Stories

Forex forecast 14/08/2025: EUR/USD, USD/JPY, GBP/USD, AUD/USD, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:07 2025-08-15 UTC+2

GBP/USD Forecast for August 15, 2025

Yesterday's U.S. producer inflation data for July showed a sharp jump: 0.9% for the month and 3.3% y/y versus 2.4% y/y the previous month. The probability of a September Federal

Laurie Bailey 05:01 2025-08-15 UTC+2

EUR/USD Forecast for August 15, 2025

The euro has now reached Fibonacci time line No. 8 — and it has arrived with a pessimistic mood. Yesterday, the support level at 1.1632 was tested, and the Marlin

Laurie Bailey 05:01 2025-08-15 UTC+2

AUD/USD Forecast for August 15, 2025

After yesterday's sharp drop of more than 50 pips, it has become clear that the breakout and consolidation above the balance line (blue rectangle) was false, which now shifts

Laurie Bailey 04:53 2025-08-15 UTC+2

EUR/USD – August 14th. Friday will be decisive

On Wednesday, the EUR/USD pair continued its upward movement and consolidated above the 76.4% retracement level at 1.1695. This suggests that the euro may continue rising today toward the next

Samir Klishi 11:57 2025-08-14 UTC+2

GBP/USD – August 14th. The UK economy delivers positive news

On the hourly chart, the GBP/USD pair continued its upward move on Wednesday and reached the 100.0% retracement level at 1.3586, which borders the resistance area of 1.3611–1.3620. A rebound

Samir Klishi 11:15 2025-08-14 UTC+2

EUR/USD. Indicator Analysis on August 14, 2025

On Wednesday, the pair, moving upward, tested the 85.4% retracement level at 1.1731 (yellow dashed line) and then declined, closing the daily candle at 1.1704. Today, the price may begin

Stefan Doll 11:00 2025-08-14 UTC+2

GBP/USD. Indicator Analysis on August 14, 2025

On Wednesday, the pair, moving upward, tested the upper fractal at 1.3587 (red dashed line) and then retreated slightly, closing the daily candle at 1.3571. Today, the price may begin

Stefan Doll 10:48 2025-08-14 UTC+2

EUR/USD. The Pair May Correct Downward Amid Trump's Speech

Today, U.S. President D. Trump is scheduled to speak. Investors, already aware that he might throw in something unexpected, are reducing part of their long positions in the pair just

Pati Gani 10:03 2025-08-14 UTC+2

XAU/USD. Analysis and Forecast

The breakout above the $3358 level, where the 100-period Simple Moving Average (SMA) on the 4-hour chart is located, against the backdrop of the earlier confirmed hold above the 200-period

Irina Yanina 08:38 2025-08-14 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.