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FxWirePro: BTC/EUR breaks above 200-DMA at 6683, good to go long on dips

  • BTC/EUR retraces back above 200-DMA at 6683 levels, bias higher.
     
  • The pair is trading 12.50% higher on the day at around 6933 levels at the time of writing.
     
  • Price has broken above strong trendline resistance at 6740 on the 1H charts.
     
  • Technical studies are turning bullish, RSI and Stochs are showing a rollover from oversold levels.
     
  • MACD is on verge of bullish crossover, which if completed will add to the bullish bias.
     
  • On the flipside, failure at 200-DMA will invalidate bullish bias. Scope for test of 5500 levels.

Support levels - 6683 (200-DMA), 6284 (5-DMA), 5488 (78.6 % Fib retrace of 2502 to 16457 rally)

Resistance levels - 7150 (50% Fib retrace of 9589 to 4712 fall), 7500 (Feb 4 high), 7725 (61.8% Fib retrace of 9589 to 4712 fall)

Recommendation: Good to go long on dips around 6800/ 7000, SL: 6700, TP: 7150/ 7500/ 7725.

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2018-08-20 07:04:43
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August 20 06:00 UTC Released

DEProducer Prices YY

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3 %

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3 %

August 20 06:00 UTC Released

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January 31 00:00 UTC 289867289867m

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January 22 19:00 UTC 301687301687m

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-1541 %

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January 22 19:00 UTC 301687301687m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 289867289867m

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 289867289867m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 289867289867m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

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