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Sep 04 - 01:55 PM

Ether - Shorts Still Hold The Cards

By Christopher Romano  —  Sep 04 - 11:50 AM
  • Ether hit a 1-month low of 2316.50 but much of the fall was erased

  • Better risk sentiment after downbeat US July JOLTS helped the lift

  • Yield US2YT=RR drop on possible big Fed cut helped to rally risk assets

  • Stocks ESv1, gold XAU= gained after the data while US$ fell

  • Ether neared 2450 then pulled back as risk sentiment softened a bit

  • Ether traded down -1.28% heading into Europe's close

  • A long lower wick formed on the daily candle but other techs remain bearish

  • Monthly & daily RSI are falling, Ether traded below the falling 10-DMA

  • Fed Beige Book remained a risk for NY's afternoon

  • US weekly claims, Aug. ADP are risks Thurs., Aug. payroll data a risk Friday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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