FxWirePro: ETH/EUR resumes upside after 'channel breakout', on track to test 110-EMA, stay long

• ETH/EUR is extending gains after showing a break above channel top, bias higher.
   
• The pair is trading 1.21% higher on the day, at 432 at the time of writing.
   
• Technical indicators on intraday charts are bullish. The pair is finds immediate support at 5-DMA support at 405.
   
• Price action has bounced of major trendline support and has failed to close below 78.6% Fib.
   
• RSI and Stochs are biased higher and breakout at 'Channel Top' keeps scope for further upside.
   
• The pair has tested 61.8% Fib at 440 levels, break above will see further upside.
   
• Next major resistance above 61.8% Fib lies at 110-EMA at 468 levels.  Weakness only on retrace back into channel.

Support levels - 404 (nearly converged 5-DMA and 21-EMA), 371 (78.6% Fib), 358 (July 12 low)

Resistance levels - 440 (61.8% Fib), 468 (110-EMA), 488 (50% Fib)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-ETH-EUR-on-verge-of-Channel-breakout-stay-long-on-decisive-break-above-395-1403909) has hit TP1/2.

Recommendation: Book partial profits at highs. Hold for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 37.1115 (Neutral) at 0700 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.