FxWirePro: ETH/EUR downside capped by daily Kijun-Sen, good to buy on dips
ETH/EUR is seen trading below on Friday after the increase. The pair declined sharply till 8.82 and recovered from that levels (KRAKEN). It is currently trading at 9.55 at the time of writing. Ichimoku analysis of daily …
ETH/EUR is seen trading below on Friday after the increase. The pair declined sharply till 8.82 and recovered from that levels (KRAKEN). It is currently trading at 9.55 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 8.84
Kijun-Sen level: 8.835
Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)
Major Trend reversal level - (100 days MA) – 9.32
Long-term trend remains to be neutral. ETH/EUR downside capped by daily Kijun-Sen and any further bearishness can be seen below that level.
The major resistance is around 9.98 (200- day MA) and any break above that level will take the pair till 10.48 (76.4% retracement of 10.95 and 8.82)/11.12 (76.4% retracement of 12.84 and 5.58). Short term support is seen at 8.82 (daily Kijun-Sen) and any break below will drag the pair till 8.36 (60 days EMA)/8.04 (30- day EMA).
