ETH/EUR is seen trading below in red on Friday. The pair has once again shown a mild decline after jump till 10.08 yesterday (KRAKEN). It is currently trading at 10.00 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 9.906
Kijun-Sen level: 9.5196
Minor trend reversal level- 11.12 (76.4% retracement of 12.84 and 5.58)
Major Trend reversal level - (60 day EMA) – 9.18
Long-term trend remains to be neutral. ETH/EUR faces strong resistance at 76.4% fibo level and any minor bullishness only above that level.
The major resistance is around 10.42 (76.4% retracement of 10.95 and 8.64) and any break above that level will take the pair till 10.95 (Jan 5th high)/11.12 (76.4% retracement of 12.84 and 5.58). Short-term support is seen at 9.76 (21- day MA) and any break below will drag the pair till 9.53 (30- day EMA)/9.21 (60- day EMA)/8.64 (Jan 12th, 2017 low).