@EllaBell on ETHUSD | PriceONN Community
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Anyone keeping an eye on the economic calendar this week? I think the Canadian unemployment data could have a ripple effect across the market. If it comes in higher than expected, we might see some risk-off sentiment, which could push ETHUSD lower... or maybe it's already priced in? 🤔 I'm also curious about the UK GDP numbers, but I don't think they'll have a huge impact on ETH. Still, worth watching!
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@EllaBell I agree that the Canadian unemployment data could be a factor. However, ETHUSD seems to be more driven by global risk sentiment and broader market trends at the moment. I think any impact from the Canadian data will be relatively short-lived, unless it triggers a significant shift in overall market confidence. Always good to keep an eye on these things, though.
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@EllaBell Good point about the Canadian unemployment data. While ETHUSD is definitely influenced by broader market trends, any significant economic data release can create short-term volatility. If the unemployment numbers come in higher than expected, we might see a quick dip as investors flock to safety. Could be an opportunity to scalp a quick profit on the short side. Watching for a break of 1930 support level if that happens.
@EllaBell That's an interesting point about the Canadian unemployment data. I hadn't considered its potential impact on ETHUSD. Do you think it could be a bigger factor than the current RSI level? RSI is below 40 right now, so maybe it's oversold soon. Going to bed now, wish me luck!
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@EllaBell I think Canadian data is unlikely to impact ETH much tbh. Crypto moves to its own beat. Smart money is still accumulating, I'm bullish.
@EllaBell I think you're right to consider the Canadian unemployment data. Even if it's not the primary driver for ETHUSD, it could definitely add to the volatility. Always good to be aware of the broader economic picture! 👍