FxWirePro: ETH/EUR faces strong resistance at 10 level, any close above targets 10.95

ETH/EUR is seen trading slightly above on Friday. The pair has shown a slight jump till 10.15 after breaking above 200- day MA (KRAKEN). It is currently trading at 9.67 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 9.395

Kijun-Sen level: 8.83

Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)

Major Trend reversal level - (60 day EMA) – 8.79

Long-term trend remains to be neutral. ETH/EUR faces strong resistance at 10 level and any close above confirms minor bullishness. 

The major resistance is around 10.40 ((Jan 9th high)) and any break above that level will take the pair till10.95 (Jan 5th high)/11.12 (76.4% retracement of 12.84 and 5.58). Short-term support is seen at 8.94 (89- day EMA) and any break below will drag the pair till 8.79 (60- day EMA)/7.64 (61.8% retracement of 5.58 and 10.95).