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ETH/EUR pair is consolidating in narrow range between 87.98 and 67.25 for the past 7 trading sessions (KRAKEN). It is currently trading around 82.55 at press time.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 77.61
Kijun-Sen level: 65.99
Minor Trend reversal level - (May 1st low) – 61.25
Long-term trend remains to be bullish. ETH/EUR breaks minor resistance around 83 and is facing strong resistance at 88 and any further jump can be seen only above that level.
The major resistance is around 88 and any break above targets 90.91 (100% projection of 44 and 73.66 to 61.25)/94.63. Short term support is seen at 77.61 (daily Tenkan-Sen) and any break below will drag the pair till 69.35 (21 EMA)/61.25 (May 1st low).
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FxWirePro: ETH/EUR breaks minor resistance at 83, further bullishness only above 88 level
Friday, May 12, 2017 11:07 AM UTC
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