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ETH/EUR pair hits new all- time high at 246.99 and shown a minor decline till 235 (KRAKEN). It is currently trading around 239.50 at the time of writing.
Ichimoku analysis 4-Hour Chart indicates:
Tenkan-Sen level: 233
Kijun-Sen level: 224
Minor Trend reversal level - (200 4H MA) – 138.45
Long-term trend remains to be bullish. ETH/EUR faces minor support around 235 (23.6% fibo) and any break below confirms minor weakness.
The major resistance is around 250 (61.8% projection from 67.25 to 206 from 113) and any break above targets 263 (161.8% retracement of 206.79 and 113)/305. Short term support is seen at 235 (23.6% retracement of 195 and 246.99) and any break below will drag the pair till 224 (4H Kijun-Sen)/195.
It is good to buy on dips around 185 with SL around 165 for the TP of 220/250.
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FxWirePro: ETH/EUR downside capped by 23.6 fibo, good to buy on dips
Wednesday, June 7, 2017 10:43 AM UTC
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