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FxWirePro: ETH/EUR faces strong resistance at 88, further jump only above that level

Thursday, May 11, 2017 10:32 AM UTC

ETH/EUR pair recovered till 83 sharply after hitting low of 67.25 on May 9th 2017 (KRAKEN). It is currently trading around 81.94 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 77.25

Kijun-Sen level: 65.99

Minor Trend reversal level - (May 1st low) – 61.25

Long-term trend remains to be bullish. ETH/EUR is facing strong resistance at 88 and any further jump can be seen only below that level.

The major resistance is around 88 and any break above targets 90.91 (100% projection of 44 and 73.66 to 61.25)/94.63. Short term support is seen at 77.25 (daily Tenken-Sen) and any break below will drag the pair till 68 (21 EMA)/61.25 (May 1st low).

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Digital Currency Revolution

FxWirePro: ETH/EUR faces strong resistance at 88, further jump only above that level

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