Authored by TD Markets
Welcome to the world of trading! On our platform, we provide you with the latest market insights and trends to help you make informed investment decisions. In today's update, we are excited to share that ETHUSD has completed a bullish setup, indicating potential upward momentum. In addition, our market analysis shows that investors are short-term bullish on NGAS and USDZAR.
Read on to discover more about these exciting opportunities in the cryptocurrency market!
The ETHUSD (Ethereum) Performance
UPDATE) - ETHUSD completes the pattern.
The rally to the upside completes the bullish setup as the market is now trading at the top of the pattern and resistance zone around 2154.80. This price action will cause buyers to exit the market and wait for more price action to confirm a break of the resistance zone and a continuation to the upside or rejection from the resistance zone before identifying trading opportunities.
The NGAS (Natural Gas) Performance
(UPDATE) - NGAS is now trading around 2.40.
NGAS aggressively rallied to the resistance zone and the target around 2.40. This price action completes the trading opportunity to the upside. Traders are now waiting for more price action to confirm a continuation to the upside with targets set around the 50.0 fib level.
The USDZAR Performance
(UPDATE) - USDZAR bullish continuation.
USDZAR recently rejected the support zone around 18.0000 as well as the 61.8 fib level. This price action confirmed a continuation of the bullish market. According to the recent price action, traders anticipate the market to rally past 18.50 and are targeting the weekly timeframe structure high around 18.71. As such, a correction to confirm further upside momentum.
Final thoughts on today’s commentary
In conclusion, we provide you with valuable insights into the current market conditions. With ETHUSD signaling a bullish setup and traders showing short-term bullish sentiment on NGAS and USDZAR, there may be exciting opportunities for traders and investors alike. Stay informed, make informed decisions, and unlock the potential of the market with us. Sign up today and start your trading journey with confidence!
