FxWirePro: ETH/EUR faces strong resistance at 55- 4H EMA, break above confirms minor bullishness
ETH/EUR pair has a recovered after showing a dip till 231 levels yesterday (KRAKEN). ETH/EUR jumped till 275 and is currently trading around 244.10 at the time of writing. Ichimoku analysis of daily chart indicates: Tenk…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR pair has a recovered after showing a dip till 231 levels yesterday (KRAKEN). ETH/EUR jumped till 275 and is currently trading around 244.10 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 246
Kijun-Sen level: 259
Minor Trend reversal level - (89 EMA) – 170
Long-term trend remains to be bullish. ETH/EUR faces intraday major support at 230 (61.8% retracement of 193 and 293) and any break below will drag the pair till 193.
The major resistance is around 262 (55- 4H EMA) (trend line joining 385 and 354) and any break above targets 275 (200- 4H MA)/ 313 (61.8% retracement of 385 and 193)/354/385. Short term support is around 230 and any break below will drag the pair till 193/170/115.
It is good to buy above around 262 with SL around 230 for the TP of 300/313.
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