FxWirePro: ETH/EUR downside capped by 38.2% fibo, good to buy on dips
ETH/EUR pair has a recovered after showing a dip till 254 levels (KRAKEN). ETH/EUR jumped till 275 and is currently trading around 257.10 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen level: …
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR pair has a recovered after showing a dip till 254 levels (KRAKEN). ETH/EUR jumped till 275 and is currently trading around 257.10 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 271.85
Kijun-Sen level: 243
Minor Trend reversal level - (89 EMA) – 170
Long-term trend remains to be bullish. ETH/EUR faces intraday major support at 254 (38.26% retracement of 193 and 293) and any break below will drag the pair till 234/193.
The major resistance is around 285 (trend line joining 385 and 354) and any break above targets 313 (61.8% retracement of 385 and 193)/354/385. Short term support is seen at 200 and any break below will drag the pair till 170/115.
It is good to buy on dips around 255-260 with SL around 230 for the TP of 300/313.
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