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FxWirePro: ETH/EUR downside capped by 50% fibo, good to buy on dips

ETH/EUR pair hits a fresh lifetime high at 47 and shown a huge profit booking from that level. ETH/EUR declined till 31.52 at the time of writing and recovered sharply from the low of 31.52. It is currently trading around 40.70 at the time of writing.

Ichimoku analysis of hourly chart shows:

Tenkan-Sen level: 35.15

Kijun-Sen level: 32.96

Major Trend reversal level - (daily Kijun-Sen) – 19.95

Long-term trend remains to be bullish. ETH/EUR faces strong support at 31.07 (50% fibo) and any break below will confirm further weakness.

The major resistance is around 42 and any break above targets 45.32 (88.6% retracement of 47 and 47. Short term support is seen at 38.15 (38.2% retracement of 47 and 31.52) and any break below will drag the pair till 34.83 (38.2% retracement of 15.15 and 47)/31.07 (50% retracement of 15.15 and 47)/32.95 (Hourly Kijun-Sen).

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2017-03-23 08:00:49
0m

March 23 07:45 UTC Released

FRBusiness Climate

Actual

104 %

Forecast

107 %

Previous

107 %

March 23 07:00 UTC Released

TRConsumer Confidence*

Actual

67.8 %

Forecast

Previous

65.70 %

March 23 09:30 UTC 8080m

GBRetail Sales MM

Actual

Forecast

0.4 %

Previous

-0.3 %

March 23 09:30 UTC 8080m

GBRetail Sales Ex-Fuel MM

Actual

Forecast

0.4 %

Previous

-0.2 %

March 23 09:30 UTC 8080m

GBRetail Sales YY

Actual

Forecast

2.6 %

Previous

1.5 %

March 23 09:30 UTC 8080m

GBRetail Sales Ex-Fuel YY

Actual

Forecast

3.1 %

Previous

2.6 %

March 23 11:00 UTC 170170m

GBCBI Distributive Trades

Actual

Forecast

5 %

Previous

9 %

March 23 12:30 UTC 260260m

USJobless Claims 4-Wk Avg

Actual

Forecast

Previous

237.25 k

March 23 12:30 UTC 260260m

USInitial Jobless Claims

Actual

Forecast

240 k

Previous

241 k

March 23 12:30 UTC 260260m

USContinued Jobless Claims*

Actual

Forecast

2.035 mln

Previous

2.030 mln

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