ETH/EUR is seen trading slightly above on Tuesday. The pair recovered sharply after declining till 11.415 yesterday (KRAKEN). It is currently trading at 12.04 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 11.66

Kijun-Sen level: 11.25

Minor trend reversal level- 12.92 (Sep 21st 2016 high)

Major Trend reversal level - (89 day EMA) – 9.688

Long-term trend remains to be neutral. ETH/EUR faces strong support near daily Kijun –Sen at 11.25 and any break below confirms minor weakness.

The major resistance is around 12.92 (Sep 21st high) and any break above targets 13.74 (Jul 23rd high). Short term support is seen at 11.25 (daily Kijun-Sen) and any break below will drag the pair till 10.95 (10- day MA)/10.71 (50% retracement of 8.64 and 12.79).