FxWirePro: ETH/EUR upside capped by 10–day MA, good to buy on dips
ETH/EUR pair is trading in narrow range between 41 and 42.89 for the past three trading sessions (KRAKEN). It is currently trading around 41.44 at press time. Ichimoku analysis of daily chart shows: Tenkan-Sen level: 43.…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR pair is trading in narrow range between 41 and 42.89 for the past three trading sessions (KRAKEN). It is currently trading around 41.44 at press time.
Long-term trend remains to be bullish. ETH/EUR faces strong resistance at 10- day MA and any break above targets 49.48.
The major resistance is around 42.15 (10- day MA) and any break above targets 45.27 (61.8% retracement of 49.48 and 38.71)/ 49.48 (Mar 29th, 2017 high). Short term support is seen at 39 (23.6% retracement of 5.58 and 49.48) and any break below will drag the pair till 35 (Mar 22nd low)/28 (Mar 18th low).
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