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FxWirePro: ETH/EUR struggles to break above 7 – day EMA, good to sell on rallies

Thursday, December 1, 2016 9:59 AM UTC

ETH/EUR is seen trading slightly below in red on Thursday. The pair slightly jumped till 8.29 after making a low of 7.28 on Nov 29th, 2016 (KRAKEN). It is currently trading around 7.99 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 8.46

Kijun-Sen level: 8.64

Trend reversal level - (100 day MA) – 10.39

Long-term trend remains to be bearish. ETH/EUR upside capped by 7 – day EMA and any break above confirms minor bullishness, a jump till 9.05 (21- day MA) is possible.

The minor resistance is around 8.35 (7- day EMA) and any break above targets 8.65 (daily Kijun-Sen)/8.97 (21- day MA). Short-term support is seen at 7.09 (127.2% retracement of 7.80 and 10.30) and any break below targets 6.52(Aug 2nd, 2016 low).

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Digital Currency Revolution

FxWirePro: ETH/EUR struggles to break above 7 – day EMA, good to sell on rallies

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