FxWirePro: ETH/EUR struggles to close below 78.6% Fib, bias lower

• ETH/EUR struggles to close below 78.6% Fib, intraday bias bearish.
   
• Upside in the pair was rejected 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, down 3.26% at the time of writing, bias lower.
   
• 21-EMA is also stiff resistance currently at 400 levels. Upside remains capped at 5-DMA.
   
• 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 355 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 hit TP 1. 

Recommendation: Book partial profits, stay short for 355. Watch out for break below for further weakness.