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FxWirePro: ETH/EUR downside capped by 21- EMA, good to buy on dips

Wednesday, May 17, 2017 10:33 AM UTC

ETH/EUR pair has shown slight dip after hitting minor top around 85.99 on May 15th 2017 high (KRAKEN). ETH/EUR declined till 76.62 and slightly recovered from that level. It is currently trading around 80.28 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 76.62

Kijun-Sen level: 66.16

Minor Trend reversal level - (May 1st low) – 61.25

Long-term trend remains to be bullish. ETH/EUR downside capped by 21- EMA and minor weakness below that level.

The major resistance is around 86 (May 15th high) and any break above targets 88/90.91 (100% projection of 44 and 73.66 to 61.25)/94.63. Short term support is seen at 76.62 (daily Tenkan-Sen) and any break below will drag the pair till 73.69 (21 EMA)/66.15 (dailyKijun-Sen).

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Digital Currency Revolution

FxWirePro: ETH/EUR downside capped by 21- EMA, good to buy on dips

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