Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: ETH/EUR faces strong support at 200- DMA, good to sell on rallies

ETH/EUR is seen facing a strong resistance on Tuesday.  The pair has taken support near 200- day MA and jumped from that level (KRAKEN). It is currently trading around 10.72 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 10.42

Kijun-Sen level: 10.32

Trend reversal level - (90 day EMA) – 10.38

Long-term trend remains to be bullish. ETH/EUR faces strong support at 200- day MA at 10.15 and any break above confirms further bearishness.

Major resistance is around 11.30 (Aug 9th high) and any break above that level will take the pair till 12.80 (50% retracement of 19.08 and 6.52)/13.75. Short-term support is seen at 10.15 (200-day MA) and any violation below will drag the pair till 9.40 (Aug 19th 2016 low)/7.99.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.