ETH/EUR is seen trading weak in red on Friday. The pair has retreated after making a high of 11.52 levels (KRAKEN). It is currently trading around 10.58 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 12.34

Kijun-Sen level: 14.04

Trend reversal level - (90 4H MA) – 10.63

Long term trend is seen to be bullish and short term remains to be bearish. In daily chart ETH/EUR has broken major support 11.62 (55 day EMA). So a decline till 9 is possible.

Major resistance is seen at 11.26 (23.6% retracement of 14.40 and 10.29) and any break above that level will take the pair till 11.80 (7 day EMA)/12.34/12.93 (21 day MA). Short term support is seen at 10.29 (Jun 28th low) and any violation below will drag the pair till 9.58 (trend line joining 6.27 and 9)/ 9 (Jun 18th low).