Trading Ideas for July 9: ETH stayed range-bound yesterday, and we will continue to wait for direction today.

On the fundamental side, the U.S. military announced it has carried out strikes for the second consecutive day. The U.S. said its goal is not to push for a regime change in Iran, but to ensure Iran cannot possess nuclear weapons. Meanwhile, Iranian diplomats said the U.S. has set up a shipping lane that was not coordinated with Tehran, violating the peace agreement. Trump said negotiators can continue to engage with Iran to see how things develop, but he believes this 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 a.m. Beijing time on Thursday. Policymakers showed clear differences at the last interest-rate decision meeting, and the dot plot’s median points to a rate hike this year to suppress persistently high inflation. The confusing and conflicting developments make it difficult to judge whether the market will move up or down.

On the technical side, the current market has entered an independent adjustment mode. The main resistance level is 1757, and the main support in the expanding pattern has shifted to 1684. Continue to wait for direction today.

For trading: a breakout above 1757 is a necessary condition for long positions, while a bearish trend signal would be generated by a breakdown below 1684. Therefore, trend and swing traders will continue to wait for direction and entry signals. For aggressive short-term traders, you can rely on the main resistance at 1757—consider a short near this level, with a stop loss above 1757. Key supports below are 1722 and 1684.

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