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FxWirePro: ETH/EUR trades in narrow range, further bullishness only above 49.50

ETH/EUR is seen trading slightly below in red on Friday and the pair is trading in a narrow range between 47.08 and 44 for the past three trading session. It is currently trading around 45.39 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 44.30

Kijun-Sen level: 43.94

Major Trend reversal level - (Mar 18th, 2017 low) – 28

Long-term trend remains to be bullish. ETH/EUR faces strong resistance at temporary top formed at 49.50 and any break below confirms major bullishness.

The major resistance is around 49.48 (Mar 29th, 2017 high) and any break above targets 56.32 (161.8%T retracement of 49.48 and 38.40). Short term support is seen at 43.94 (daily Kijun-Sen) and any break below will drag the pair till 41.37 (23.6% retracement of 49.48 and 38.40)/ 38.40 (Apr 4th low)/35 (Mar 22nd low).

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October 24 09:00 UTC Released

EZMarkit Comp Flash PMI

Actual

55.9 bln EUR

Forecast

56.5 bln EUR

Previous

56.7 bln EUR

October 24 09:00 UTC Released

EZMarkit Serv Flash PMI

Actual

54.9 bln EUR

Forecast

55.6 bln EUR

Previous

55.8 bln EUR

October 24 12:55 UTC 213213m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 213213m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 12:55 UTC 213213m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 213213m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 13:00 UTC 218218m

MXFlash Trd Bal Non-EU*

Actual

Forecast

Previous

-0.7 Bln EUR

October 24 13:00 UTC 218218m

MX1st Half-Mth Infl YY*

Actual

Forecast

Previous

1.00 %

October 24 13:00 UTC 218218m

USIGAE Econ Activity MM

Actual

Forecast

Previous

-0.7 %

October 24 13:00 UTC 218218m

MXIGAE Econ Activity YY

Actual

Forecast

1.50 %

Previous

1.00 %

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