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FxWirePro: ETH/EUR faces minor resistance at 86, further jump only above 88 level

ETH/EUR pair has shown slight jump after hitting a minor low at 75.70 yesterday (KRAKEN). ETH/EUR broken minor resistance at 83 and jumped till 86. It is currently trading around 83 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 76.62

Kijun-Sen level: 66.16

Minor Trend reversal level - (May 1st low) – 61.25

Long-term trend remains to be bullish. ETH/EUR faces major resistance at 88 and major bullishness can be above that level.

The major resistance is around 86 (May 15th high) and any break above targets 88/90.91 (100% projection of 44 and 73.66 to 61.25)/94.63. Short term support is seen at 76.62 (daily Tenkan-Sen) and any break below will drag the pair till 73.69 (21 EMA)/66.15 (dailyKijun-Sen).

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