FxWirePro: ETH/EUR faces strong resistance at 76.4% fibo, any close above targets 10.95
ETH/EUR is seen trading below in red on Tuesday. The pair has shown a slight jump till 10.30 on 21st Jan 2017 after forming a bottom around 8.64 levels (KRAKEN). It is currently trading at 9.93 at the time of writing. Ic…
ETH/EUR is seen trading below in red on Tuesday. The pair has shown a slight jump till 10.30 on 21st Jan 2017 after forming a bottom around 8.64 levels (KRAKEN). It is currently trading at 9.93 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 9.67
Kijun-Sen level: 9.08
Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)
Major Trend reversal level - (60 day EMA) – 8.95
Long-term trend remains to be neutral. ETH/EUR faces strong resistance at 76.4% fibo and any close above confirms minor bullishness.
The major resistance is around 10.42 (76.4% retracement of 10.95 and 8.64) and any break above that level will take the pair till 10.95 (Jan 5th high)/11.12 (76.4% retracement of 12.84 and 5.58). Short-term support is seen at 8.95 (60- day EMA) and any break below will drag the pair till 8.64 (7.64 (61.8% retracement of 5.58 and 10.95).
The flaw remains exploitable, and compensation eligibility is based on an earlier snapshot, leaving later buyers outside the plan as liquidity pools remain at risk.
