FxWirePro: ETH/EUR consolidates in narrow range after hitting fresh all-time high, good to buy on dips
ETH/EUR is seen trading well above on Tuesday and the pair is slightly declining after hitting fresh all-time high at 48.73 on Mar 24th, 2017. It is currently trading around 44.82 at the time of writing. Ichimoku analysi…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR is seen trading well above on Tuesday and the pair is slightly declining after hitting fresh all-time high at 48.73 on Mar 24th, 2017. It is currently trading around 44.82 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 39.41
Kijun-Sen level: 31.68
Major Trend reversal level - (23.6% retracement of 15.15 and 48.73) – 40.75
Long-term trend remains to be bullish. ETH/EUR faces strong support at 7- day MA at 43 and close below confirms minor weakness till 40.77 (23.6% retracement of 15.15 and 48.73)/38.36 likely.
The major psychological resistance is around 50 and any break above targets 51.97. Short term support is seen at 43.08 (7- day MA) and any break below will drag the pair till 40.77 (23.6% retracement of 15.15 and 48.73)/ 39.41 (daily tenken-Sen).
