FxWirePro: ETH/EUR finds strong trendline support at 360, good to go short on break below

• ETH/EUR trades 2.55% higher on the day at 379.08, but upside likely lacks traction.
   
• The pair is trading in a slopping channel pattern and bias remains bearish.
   
• Upside remains capped below immediate resistance at 5-DMA at 387 levels.
   
• Break above could see test of 21-EMA at 432. Violation at channel top negates bearish bias.
   
• Downside finds strong support at 360 (major trendline), break below will see further weakness.
   
• Technical indicators are biased lower. Stochs and RSI sharply lower. DMI supports downside. 
   
• Break below strong trendline support at 360 levels raises scope for test of 88.6% Fib at 329 ahead of channel base at 295. 

Support levels - 371 (78.6% Fib), 360 (trendline support), 329 (88.6% Fib)

Resistance levels - 387 (5-DMA), 432 (21-EMA), 445 (channel top)

Recommendation: Good to go short on break below 360, SL: 390, TP: 330/ 300