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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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2017-04-28 03:30:03
0m
Fintech Week Chicago

April 27 23:50 UTC Released

JPIP Forecast 2 Mth Ahead*

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-3.7 %

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8.3 %

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JPIP Forecast 1 Mth Ahead*

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8.9 %

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-2 %

April 28 05:00 UTC 3939m

FRConstruction Orders YY*

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5.7 %

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JPConstruction Orders YY*

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5.7 %

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JPHousing Starts YY*

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-2.4 %

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-2.6 %

April 28 05:30 UTC 6969m

FRConstruction Orders YY*

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0.4 %

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0.40 %

April 28 05:30 UTC 6969m

DEGDP Preliminary QQ

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0.4 %

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0.40 %

April 28 06:00 UTC 9999m

GBRetail Sales YY Real

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3.3 %

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3.5 %

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GBRetail Sales MM Real

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0.1 %

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-0.3 %

April 28 06:00 UTC 9999m

DEGDP Preliminary QQ

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6.5 %

Previous

7.4 %

Fintech Week Chicago
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