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FxWirePro: ETH/EUR struggles to close above 21- day MA, good to sell on rallies

Friday, December 9, 2016 4:35 AM UTC

ETH/EUR is seen trading slightly below on Friday. The pair made a high of 8.33 yesterday and shown a selling pressure from that level (KRAKEN). It is currently trading around 7.76 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 6.96

Kijun-Sen level: 7.62

Trend reversal level - (100 day MA) – 10.19

Long-term trend remains to be bearish. ETH/EUR struggles to close above 21- day MA and a slight bullishness can happen only if it closes above that level.

The major resistance is around 8.21 (21- day MA) any break above targets 8.56 (34- day EMA)/ 9.108(55- day EMA). Short-term support is seen at 7.62 (daily Kijun-Sen) and any break below targets 6.96 (daily Tenekn-Sen)/5.58.

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FxWirePro: ETH/EUR struggles to close above 21- day MA, good to sell on rallies

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