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
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Forecast for August 12, 2025

With support from the stock market decline (S&P 500 –0.25%), the euro fell by 25 pips yesterday, breaking below the 1.1632 support level. If today closes below this level

Laurie Bailey 04:53 2025-08-12 UTC+2

GBP/USD Forecast for August 12, 2025

The British pound only managed to pierce the intermediate level of 1.3452 with its upper shadow. The day closed with a 22-pip loss. The Marlin oscillator's signal line is moving

Laurie Bailey 04:53 2025-08-12 UTC+2

USD/JPY Forecast for August 12, 2025

Yesterday, the USD/JPY pair broke above the signal level of 148.03 (the June 23 high). Today's session opened above this level, and at the same time, the Marlin oscillator's signal

Laurie Bailey 04:53 2025-08-12 UTC+2

XAU/USD. Analysis and Forecast

On Monday, intraday declines pushed gold prices below the 3365 level, but oscillators on the daily chart have not yet started to gain negative momentum. This suggests that the precious

Irina Yanina 19:34 2025-08-11 UTC+2

Trading Signals for EUR/USD for August 11-15, 2025: sell below 1.1650 (200 EMA - 7/8 Murray)

Early in the American session, the euro is trading around 1.1590. After a failed breakout of the downtrend channel, EUR/USD fell below the 21 SMA and below the 7/8 Murray

Dimitrios Zappas 17:54 2025-08-11 UTC+2

Trading Signals for GOLD (XAU/USD) for August 11-15, 2025: sell below $3,380 or buy if rebound 3,341 (21 SMA - 7/8 Murray)

The eagle indicator is showing a negative signal, so we must be very cautious if we are buying, as the bearish force is likely to intensify in the coming hours

Dimitrios Zappas 17:51 2025-08-11 UTC+2

Forecast for EUR/USD on August 11, 2025

On Friday, EUR/USD made two rebounds from the 1.1637–1.1645 support zone and turned in favor of the euro. This means the upward movement could continue today toward the 76.4% Fibonacci

Samir Klishi 10:44 2025-08-11 UTC+2

Forecast for GBP/USD on August 11, 2025

On the hourly chart, GBP/USD on Friday made two rebounds from the 1.3425 level, and on Monday continues moving upward toward the 76.4% retracement level at 1.3470. A rebound from

Samir Klishi 10:25 2025-08-11 UTC+2

Forex forecast 11/08/2025: EUR/USD, USD/JPY, GBP/USD, Gold, 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 10:20 2025-08-11 UTC+2

GBP/USD. Technical Analysis for the Week of August 11–16

Trend Analysis This week, from the 1.3450 level (close to the last weekly candle), the price may start moving downward toward 1.3270 – a historical support level (blue dotted line)

Stefan Doll 10:02 2025-08-11 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.