BTC/EUR continuing its winning streak for the past twelve trading sessions and has made a high of 1080.50 yesterday. It is currently trading around 1085 at the time of writing. Short term trend of the pair is extremely bullish as long as support 875 (Feb 9th low). It is also trading well above short-term EMA (21 and 60 days EMA) and also above long term EMA (89 and 200 days EMA).

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 1010

Kijun-Sen level: 967.67

Major reversal level -850 (89- day EMA)

Long-term trend remains to be bullish. The pair is facing strong resistance at 1111.56 high formed on Jan 5th, 2017 and any break above confirms bullish continuation.

Major resistance is around 1111.56 (Feb 9th, 2017 high) and any break above will take the pair to next level till 1168 (113% retracement of 1111.56 and 694.78). Short term support is seen at 1032 (5- day MA) and any break below will drag the pair till 999 (10- day MA)/ 976 (21- day EMA)/887 (38.2%retracement of 694 and 1005)/871 (60- day EMA).