- BTC/EUR is holding above 50-DMA, intraday bias has turned bullish after break above 21-EMA.
- The pair is currently hovering around 6100 mark, just shy of 110-EMA at 6156, break above will see further upside.
- Price action has broken above major EMAs on the hourly charts and we see scope for further upside.
- Momentum studies are bullish and RSI has edged above 54 levels. DMIs also support upside in the pair.
- Price has broken immediate resistance at 4H 200 SMA, eyes 110-EMA at 6156. Break above then targets 200-DMA at 6597.
- On the flipside 5-DMA is immediate support at 5924. Break below to see minor weakness.
- Retrace below 55-EMA and then violation at 21-EMA to see resumption of weakness.
Support levels - 5924 (5-DMA), 5918 (55-EMA)
Resistance levels - 6156 (110-EMA), 6597 (200-DMA)
Recommendation: Stay long on dips, SL: 5900, TP: 6155/ 6182/ 6200
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 47.1447 (Neutral) at 1015 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
