- We see a long opportunity in ETH/EUR.
- The pair has broken major trendline resistances at multiple points.
- Currently hovers around strong trendline resistance at 840 levels. We see scope for upside on break above.
- Technical studies are bullish. We see RSI strength at 70 levels with room to run further.
- Momentum studies are bullish and ADX supports trend higher, Bollinger bands are also widening.
Support levels - 780 (1H 50-SMA), 751.99 (5-DMA), 725 (Dec 19 high), 651 (20-DMA)
Resistance levels - 840 (trendline), 955 (141.4% Fib extension of 167.22 to 725.00 rally), 1000, 1069 (161.8% Fib extension)
Recommendation: Good to go long on breakout at 840, SL: 780, TP: 900/ 955/ 1000
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