- ETH/EUR has paused upside at minor resistance at 955 which is 141.4% Fib extension of 167.22 to 725 rally.
- Breakout at 955 to see further upside. Next bull target lies at 1000 level.
- Technical studies are bullish. We see RSI strength at 80 levels with room to run further.
- Momentum studies are bullish and ADX supports trend higher, Bollinger bands are also widening.
- On the downside, break below 5-DMA at 856.46 could see some weakness. Scope then for test of 725 levels.
Support levels - 856 (5-DMA), 725 (Dec 19 high), 687 (20-DMA)
Resistance levels - 955 (141.4% Fib extension of 167.22 to 725 rally), 1000, 1069 (161.8% Fib extension)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-ETH-EUR-long-opportunity-1083184) has hit TP 1/2.
Recommendation: Book partial profits, trail stop loss to 855, hold for 1000.
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