July 6 ETH Outlook

Yesterday continued the range-bound consolidation pattern.

On the fundamental side: on one hand, after the nonfarm payroll data temporarily subsided, the market is in a wait-and-see mode, awaiting the next catalysts for the U.S. dollar and U.S. interest rates.
Global markets will seek direction from key data points later this week, such as the U.S. ISM services data and the Fed meeting minutes, as well as next week's U.S. CPI;
on the other hand, the market is waiting for the new round of U.S.-Iran negotiations after July 9.

On the technical side: after the morning session yesterday broke below the key level of 1769, the wave that had been rising since 1550 entered an adjustment and correction phase;
this morning it tested the previous high of 1808 again, increasing the probability of a high-level range. However, the current adjustment in both time and space is insufficient. Whether this round of adjustment is a price adjustment or a time adjustment depends on today's focus on the 1747-1725 range. If the decline stabilizes in this range and gives a rebound signal, the market will exchange time for space and enter a high-level sideways consolidation mode; otherwise, it will see a deep pullback.

For trend trading signals, we need to continue waiting for new signals after the adjustment ends; it is still too early.
For short-term operations: if the price pulls back to the 1747-1725 range and shows an upward signal, consider going long with a stop loss below 1725 and a target around 1808; if there is no upward signal, wait and see.
For specific operation details, they will be explained in detail during tonight's live broadcast!