ETH/EUR tests 110-EMA at 514 levels, decisive break above could see further upside.
The pair is trading with a bullish momentum and decisive close above 110-EMA could see extension of gains.
RSI shows strength at 69 levels with room to run further. The pair also finds stiff resistance at 200-DMA at 520.
Next major resistance above 200-DMA lies at daily cloud at 575 ahead of 38.2% Fib at 621.
On the downside, we see immediate support at 5-DMA at 496. Bullish invalidation likely below 55-EMA at 467 levels.
Support levels - 496 (5-DMA), 467 (55-EMA), 429 (21-EMA)
Resistance levels - 575 (cloud base), 600, 621 (38.2% Fib)
Good to go long on decisive break above 200-DMA, SL: 465, TP: 600/ 620
The pair is trading with a bullish momentum and decisive close above 110-EMA could see extension of gains.
RSI shows strength at 69 levels with room to run further. The pair also finds stiff resistance at 200-DMA at 520.
Next major resistance above 200-DMA lies at daily cloud at 575 ahead of 38.2% Fib at 621.
On the downside, we see immediate support at 5-DMA at 496. Bullish invalidation likely below 55-EMA at 467 levels.
Support levels - 496 (5-DMA), 467 (55-EMA), 429 (21-EMA)
Resistance levels - 575 (cloud base), 600, 621 (38.2% Fib)
Good to go long on decisive break above 200-DMA, SL: 465, TP: 600/ 620
Comment:
All targets hit
