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FxWirePro: BTC/CNY struggles to close above 30- day EMA, good to sell on rallies

BTC/CNY pair is trading in a narrow range between 6587 and 5628 for the past three trading session (BTCCCHINA). It is currently trading around 6339 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 7262

Kijun-Sen level: 7156

Major reversal level -5570 (89- day EMA)

The long-term trend remains to be bullish. BTC/CNY struggles to close above 30- day EMA and any close above will take the pair till 6600/6921.

Major resistance -6600 (support turned into resistance) and any break above that level will take the pair to next level till 6921 (38.2% retracement of 8896 and 5700)/7500.  Short term support is around5585 (89- day EMA) and any break below targets 5321 (cloud top)/4960 (cloud bottom).

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2017-01-20 15:26:23
0m

January 20 07:00 UTC Released

DEProducer Prices YY

Actual

1.0 %

Forecast

1.0 %

Previous

0.1 %

January 20 07:00 UTC Released

DEProducer Prices MM

Actual

0.4 %

Forecast

0.4 %

Previous

0.3 %

January 23 07:00 UTC 37803780m

TRConsumer Confidence*

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Previous

63.40

January 23 13:00 UTC 41404140m

SACPI YY*

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Previous

2.3 %

January 23 13:00 UTC 41404140m

SACPI MM*

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Forecast

Previous

-0.2 %

January 23 13:30 UTC 41704170m

CAWholesale Trade MM

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Forecast

Previous

1.1 %

January 23 15:00 UTC 42604260m

EZConsumer Confid. Flash

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Forecast

Previous

-5.1 %

January 23 19:00 UTC 45004500m

ARAnnual Industrial Output*

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Forecast

Previous

-2.5 %

January 23 21:00 UTC 46204620m

KRConsumer Sentiment Ind*

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Forecast

Previous

94 bln $

January 24 00:30 UTC 48304830m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.4 %

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