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ETH/EUR pair has broken major support at 225 (55- day EMA) and declined slightly below that level (KRAKEN). It is currently trading around 210 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 234.50
Kijun-Sen level: 281
Minor Trend reversal level - (Jun 26th low) – 193
Long-term trend remains to be bullish. ETH/EUR faces major support at 193 (low made on Jun 2017) and any break below targets 156 (100- day MA)/113.
The major resistance is around 235 (daily Tenkan-Sen) and any break above targets 250 (21- day EMA)/281. Short term support is seen at 193 and any break below will drag the pair till 156 (100- day MA)/113.
It is good to sell on rallies around 225 with SL around 255 for the TP of 193/157.
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FxWirePro: ETH/EUR trades weak, good to sell on rallies
Monday, July 10, 2017 9:49 AM UTC
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