FxWirePro: ETH/EUR takes support near 21- day MA, good to buy on dips
ETH/EUR is seen recovering slightly above on Friday. The pair has recovered sharply after making a low of 11. The pair is currently trading around 11.88 at the time of writing. Ichimoku analysis of daily chart shows: Kij…
ETH/EUR is seen recovering slightly above on Friday. The pair has recovered sharply after making a low of 11. The pair is currently trading around 11.88 at the time of writing.
Ichimoku analysis of daily chart shows:
Kijun-Sen level: 11.26
Trend reversal level - (100 day MA) – 10.81
Long-term trend remains to be bullish. ETH/EUR has taken support near 21 days MA and any weakness only below that level.
Minor resistance is around 12.05 (38.2% retracement of 12.92 and 9.40) and any break above that level will take the pair till 12.92 (Sep 21st high)/13.74 (Jul 23rd high). Short-term support is seen at 10.92 (21- day MA) and any violation below will drag the pair till 10.34 (200- day MA)/9.40 (Aug 19th, 2016 low).
