FxWirePro: ETH/EUR upside capped by daily tenken-Sen, good to sell on rallies
ETH/EUR pair has slightly recovered till 203.99 after forming a minor bottom at 155 on Jul 11th 2017 (KRAKEN). It is currently trading around 199 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/EUR pair has slightly recovered till 203.99 after forming a minor bottom at 155 on Jul 11th 2017 (KRAKEN). It is currently trading around 199 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 206
Kijun-Sen level: 254
Minor Trend reversal level - (Jun 26th low) – 155
Long-term trend seems to be bullish. ETH/EUR upside capped by daily Tenken-Sen and any break above will take the pair till 254.
The major resistance is around 206 (daily Tenken-Sen) and any break above targets 221 (55- EMA)/254/281. Short term support is seen at 156 and any break below will drag the pair till 113/87 (200- MA).
It is good to sell on rallies around 200-205 with SL around 225 for the TP of 115.
