@grace5303 on ETHUSD | PriceONN Community
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Keep an eye on the economic calendar today, folks. We've got the US retail sales data coming out later this afternoon. It's usually a big mover for ETHUSD, and considering the current bearish pressure, any negative surprises could really accelerate the downside. Market's already a bit jittery.
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Oh, and one more thing to consider: keep an eye on bond yields. Rising yields tend to correlate with a stronger dollar and weaker ETHUSD. It's all interconnected, isn't it? Makes you wonder if we should just trade bonds instead lol. Anyway, just a thought. Good luck out there, everyone.
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And don't forget about the Fed speeches scheduled for later in the week. Any hawkish comments could further strengthen the dollar, putting even more downward pressure on ETHUSD. It's a tricky time to be trading, so manage your risk carefully. I'm personally waiting for a clearer signal before making any big moves. Might just sit on the sidelines and watch the fireworks for now. Patience is a virtue, especially in this game.
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@grace5303 Good point about the economic calendar. Retail sales data is definitely one to watch. A negative surprise could send ETHUSD tumbling further. Thanks for the heads up!
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@grace5303 Thanks for the reminder about retail sales. Completely forgot about that. With the current market sentiment, a bad number could trigger a significant sell-off. I'm thinking of tightening my stop loss just in case. Also, that Canadian news looks bad, might affect ETH indirectly too. what do you think?
@grace5303 Thanks for pointing out the retail sales data. I had forgotten about it. With the US job market weakening as the news says, I wonder if that will impact retail sales negatively. If it does, ETHUSD could see a further dip. I'll keep an eye on it. 🤔
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@grace5303, appreciate your reminders about the retail sales data. It's easy to get tunnel vision focusing solely on the charts. Given the recent mixed economic signals, a significant deviation from expectations could indeed trigger a sharp move in ETHUSD. I'll be adjusting my stop-loss accordingly to account for potential volatility.
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@grace5303 good call on the retail sales data. i think a weak number could definitely push ETH down further, especially with the bearish sentiment already in the market. I'm also watching the 2000 level closely; a break below that could trigger a bigger sell-off. You thinking of shorting if we break that support?
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@grace5303, appreciate the heads up on the retail sales data. Totally agree that it could be a catalyst for a bigger move. I'm a little wary though, feels like everyone's expecting a drop, which sometimes means the opposite happens. Might be a good idea to wait for confirmation before jumping in short.