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FxWirePro: BTC/CNY downside capped by 50% fibo, good to sell on rallies

BTC/CNY declined till 9633 after making a fresh all time high at 11277 levels (BTCCHINA). It is currently trading around 10003 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9838

Kijun-Sen level: 9152

Major reversal level -9170 (21 EMA)

Long-term trend remains to be bullish. BTC/CNY downside is capped by 50% fibo around 9650 and any break below will drag the pair till 9300.

Major resistance is seen at 10659 (61.8% retracement of 11277 and 9633) and any break above targets 11277/ 11369 (161.8% retracement of 8896 and 4893). Short term support is around 9650 (50% retracement of 11277 and 8060) and any break below the will drag the pair down till 9306 (38.2% retracement of 11277 and 6119)/9152 (daily Kijun-Sen).

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July 21 14:30 UTC Released

USECRI Weekly Annualized*

Actual

144.8 %

Forecast

Previous

2.4 %

July 21 14:30 UTC Released

USECRI Weekly Index*

Actual

2.6 %

Forecast

Previous

143.9 %

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Actual

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52.4 bln $

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Forecast

56.7 %

Previous

56.9 %

July 24 07:00 UTC 19411941m

FRMarkit Mfg Flash PMI

Actual

Forecast

54.6 %

Previous

54.8 %

July 24 07:00 UTC 19411941m

FRMarkit Comp Flash PMI

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Forecast

56.4 %

Previous

56.6 %

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DEMarkit Service Flash PMI

Actual

Forecast

54.3

Previous

54.0

July 24 07:30 UTC 19711971m

DEMarkit Mfg Flash PMI

Actual

Forecast

59.2

Previous

59.6

July 24 07:30 UTC 19711971m

DEMarkit Comp Flash PMI

Actual

Forecast

56.3

Previous

56.4

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RUMarkit Mfg Flash PMI

Actual

Forecast

57.2 %

Previous

57.4 %

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