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 - EconoTimes)
- ETH/EUR tests 110-EMA at 514 levels, decisive break above could see further upside.
- The pair is trading with a bullish momentum and decisive close above 110-EMA could see extension of gains.
- RSI shows strength at 69 levels with room to run further. The pair also finds stiff resistance at 200-DMA at 520.
- Next major resistance above 200-DMA lies at daily cloud at 575 ahead of 38.2% Fib at 621.
- On the downside, we see immediate support at 5-DMA at 496. Bullish invalidation likely below 55-EMA at 467 levels.
Support levels - 496 (5-DMA), 467 (55-EMA), 429 (21-EMA)
Resistance levels - 575 (cloud base), 600, 621 (38.2% Fib)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-ETH-EUR-hovers-around-55-EMA-at-472-decisive-break-above-could-see-further-upside-1265804) has hit all targets.
Recommendation: Good to go long on decisive break above 200-DMA, SL: 465, TP: 600/ 620
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