July 9 ETH

Fundamentally, the US military announced it has carried out strikes for a second consecutive day. Trump stated that negotiators can continue to engage with Iran to see how things develop, but he believes it may be "a waste of time."

On the other hand, the Federal Reserve will release the minutes of its monetary policy meeting at 2:00 AM Beijing time on Thursday. Policymakers showed clear divergence at the last meeting, with the dot plot median indicating one rate hike this year to curb persistently high inflation.

The confusing news flow leaves the market in a dilemma.

Technically, the current market has entered an independent adjustment mode, with major resistance at 1757 and the key support of the expanding pattern shifting to 1684. Today, we continue to wait for a directional choice.

In terms of operations, breaking above 1757 is a necessary condition for longs, while the bearish trend signal requires breaking below 1684.

Therefore, trend and swing traders should continue waiting for a directional choice and entry signals. Short-term aggressive traders may consider shorting near the 1757 resistance on a rebound, with a stop above 1757, and key supports below at 1722 and 1684.

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