Today I will go through the ETHUSD chart which seem to be showing some nice price action as the pair broke key areas, we now look for a pullback to short on.

ETHUSD

The ETHUSD 4H chart shows that the pair broke a symmetrical triangle at [1]. We have now reached a support area at [2] and I see the pair pulling back to the 50% fibonacci retracement level at [3] which also lines up with the previous support zone. We can then expect the pair to achieve lows of 172.25 at a -27.2% Fibonacci extension target at [4].

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