FxWirePro: ETH/EUR finds strong trendline support at 360, break below to see further weakness

• ETH/EUR has bounced off strong trendline support at 360, further weakness only on break below.
   
• The pair is struggling to close below 78.6% Fib, but intraday bias remains bearish.
   
• Upside in the pair finds stiff resistance at 21-EMA, price fails to hold break above.
   
• The pair is trading in a symmetric triangle pattern and upside has been rejected shy of Triangle Top.
   
• Price action extends choppy trade, trades 1.26% higher at the time of writing, bias lower.
   
• Upside remains capped below 5-DMA at 379. Price action in the pair remains below major EMAs and well below the daily cloud.
   
• Break below 78.6% Fib will targets major trendline support at 360 levels. Break below trendline could see further weakness in the pair. 
   
• Technical indicators are bearish, RSI and Stochs are sharply lower. But we see bullish divergence on RSI and Stochs which keeps scope for upside.

Call update: Our previous call (https://www.econotimes.com/FxWirePro-ETH-EUR-fails-to-hold-break-above-21-EMA-dips-till-786-Fib-371-likely-1400795) has almost hit final targets.  

Recommendation: Watch out for break below 360 (trendline) for further weakness.