FxWirePro: ETH/EUR breaks above 110-EMA, eyes 38.2% Fib at 621, stay long

• ETH/EUR has shown a decisive break above 110-EMA at 515 levels, bias higher. 
   
• The pair is trading with a bullish momentum and decisive close above 110-EMA has raised scope for test of 38.2% Fib at 621 levels. 
   
• RSI shows strength above 70 levels and Stochs are highly bullish. MACD supports trend and we see +ve DMI dominance. 
   
• The pair has also broken stiff resistance at 200-DMA and price has entered into daily cloud. 
   
• Next major resistance above 200-DMA lies at 38.2% Fib at 621. 
   
• On the downside, we see immediate support at 5-DMA at 517. Bullish invalidation likely below 55-EMA at 470 levels. 

Support levels - 517 (5-DMA), 470 (55-EMA), 441 (21-EMA) 

Resistance levels - 600, 621 (38.2% Fib), 737 (Dec 19 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-ETH-EUR-tests-110-EMA-at-514-good-to-go-long-on-decisive-break-above-520-200-DMA-1267350) is progressing well.

Recommendation: Hold for targets.

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