ETC/EUR struggles at 90-H EMA, break above targets 2.65

ETC/EUR jumped slightly above 200 HMA and declined from that level (KRAKEN). It is currently trading around 2.0461 at the time of writing.

Ichimoku analysis of hourly chart shows:

Tenkan-Sen level: 2.015

Kijun-Sen level: 2.055

Trend reversal level - (90 EMA)-2.196

Short-term trend remains to be bearish. The pair recovered till 2.17 at the time of writing from the low of 1.85. ETC/USD should break above 90-H EMA for further bullishness.

Any violation above 2.196 will take the pair to next level till 2.34 (61.8% retracement of 2.6499 and 1.85)/2.486/2.65 (Aug 6th 2016 high). On the lower side minor support is around 2 and break below targets 1.85 (Aug 7th low)/ 1.65 (161.8% retracement of 1.85 and 2.17).