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FxWirePro: BTC/CNY downside capped by 50% fibo, good to buy on dips

BTC/CNY is seen trading slight below on Monday and the pair has slightly recovered after making a low of 6610 level (BTCCHINA). BTC/CNY is currently trading around 7151 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 7396

Kijun-Sen level: 7298

Major reversal level -6911 (89- day EMA)

Long-term trend remains to be bullish. BTC/CNY downside capped by 50% fibo around 6600 and break below confirms minor bearishness.

Major resistance is around 7300 (55- day EMA) and any break above will take the pair till 7625 (21- day MA)/8000/8275 (88.6% retracement of 8400 and 7310)/ 8400. Short term support is seen at 6640 (50% retracement of 4893 and 8400) and any break below will drag the pair till 6430 (Feb 10th low)/6220/5670 (200- day MA).

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December 15 21:00 UTC Released

USOverall Net Capital Flows

Actual

151.2 Bln USD

Forecast

Previous

-51.3 Bln USD

December 15 21:00 UTC Released

USNet L-T Flows,Incl.Swaps

Actual

7.9 Bln USD

Forecast

Previous

65.1 Bln USD

January 9 11:00 UTC 3500835008m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3500835008m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3500835008m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3500835008m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3500835008m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3500835008m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

December 12 09:30 UTC 54035403m

GBRPIX YY

Actual

Forecast

Previous

4.2 %

December 12 09:30 UTC 54035403m

GBPPI Input Prices MM NSA

Actual

Forecast

Previous

1 %

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