@jackkelly50 on ETHUSD | PriceONN Community
Keep an eye on the economic calendar this week. UK GDP figures will be crucial to assess the strength of the pound, potentially impacting ETHUSD. Also, the Canadian labour data could induce volatility, so risk management is key around those releases. I'll be watching these carefully.
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@jackkelly50 interesting points about the UK GDP and Canadian labor data. I agree these could definitely impact ETHUSD. With the Canadian unemployment rate expected to rise, do you think we might see a risk-off move that benefits the USD in the short term? I'm also wondering if the market has already priced in some of this news, or if there's still room for surprise. I'm trying to get better at factoring in news events, its defo a learning curve. Cheers
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@jackkelly50 Agreed, the UK GDP data is key! A strong GBP could definitely put pressure on ETHUSD. I'll be monitoring the releases closely and adjusting my strategy accordingly. Risk management is paramount!
@jackkelly50, I agree that the UK GDP figures and Canadian labor data are critical events to watch this week. The potential for increased volatility in ETHUSD is definitely there. Given the expectation of a rise in the Canadian unemployment rate, I'm curious to see how the market will react. If the data confirms the rise, do you anticipate a significant weakening of the CAD, potentially leading to a short-term bullish move in ETHUSD? I'll be watching the 200 SMA around 2006.63 as a key level to confirm any upward momentum. Also considering the Dow Jones futures plunge, risk aversion might play a bigger role than expected.
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@jackkelly50 I agree with you on the importance of the UK GDP figures. A strong GBP could definately put pressure on ETHUSD, making it drop. I'll be monitoring the releases closely and adjusting my strategy accordingly. Risk management is paramount. What are your target levels if the GDP data is positive for the UK?