ETH/EUR is seen trading low on weekly trend as seen on Friday. The pair has taken support around 50-WMA on Oct last week and recovering from that level for the past two weeks (KRAKEN). It is currently trading around 9.54 at the time of writing.

Ichimoku analysis of weekly chart shows:

Tenkan-Sen level: 10.36

Kijun-Sen level: 12.80

Trend reversal level - (50 W MA) – 10.78

Long-term trend remains to be bearish. ETH/EUR upside is capped by weekly Tenken-Sen and any close above will take the pair till 11/11.78.

The major resistance is around 10.36 (weekly Tenken-Sen) and any violation above targets 1110 (Oct 24th high)/11.78 (Oct 17th high). Short-term support is seen at 9.15 (Oct 30th 2016 high) and any violation below targets 8.75 (61.8% retracement of 7.80 and 10.30)/7.80 (Oct 29th low).