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FxWirePro: ETH/EUR upside capped by 21- day MA, good to sell on rallies

Monday, December 19, 2016 10:18 AM UTC

ETH/EUR is seen trading below in red on Monday. The pair has slightly jumped after declining till 7.21 (KRAKEN). It is currently trading around 7.40 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 7.66

Kijun-Sen level: 7.49

Trend reversal level - (100 days MA) – 9.92

Long-term trend remains to be bearish. ETH/EUR slight jump is capped by 21- day MA and slight bullishness can be seen above that level.

The major resistance is around 7.65 (21 day MA) any break above targets 8.18 (7- day EMA)/8.35 (Dec 8th high)/ 8.66 (55- day EMA). Short term support –7.49 (daily Kijun -Sen) and any break below targets 7.22 (161.8% retracement of 7.59 and 8.12)/6.62 (61.8% retracement of 5.58 and 8.33)/5.58.

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Digital Currency Revolution

FxWirePro: ETH/EUR upside capped by 21- day MA, good to sell on rallies

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