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FxWirePro: BTC/EUR faces strong resistance at 1160, break above targets 1235

BTC/EUR is seen trading slight;y below on Wednesday and the pair has shown a mild recovery till 1137 after forming a minor bottom at 1069 on Apr 15th 2017 (COINBASE). It is currently trading around 1121.59 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 1115

Kijun-Sen level: 993

Major reversal level -852 (200- day MA)

Long-term trend remains to be bullish. BTC/EUR faces strong resistance at 1160 (Apr 11th 2017 high) and any break above confirms minor bullishness.

Major resistance is around 1161 (Apr 11th 2017 high) and any break above will take the pair to next level till 1188 (Mar 14th high)/1235 (Mar 3rd 2017 high)/1290 (88.6% retracement of 1350 and 826). Short term support is seen at 1094 (21 day EMA) and any break below will drag the pair down till 1066 (Ichimoku cloud) /993 (daily Kijun-Sen).

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October 24 09:00 UTC Released

EZMarkit Comp Flash PMI

Actual

55.9 bln EUR

Forecast

56.5 bln EUR

Previous

56.7 bln EUR

October 24 09:00 UTC Released

EZMarkit Serv Flash PMI

Actual

54.9 bln EUR

Forecast

55.6 bln EUR

Previous

55.8 bln EUR

October 24 12:55 UTC 218218m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 218218m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 12:55 UTC 218218m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 218218m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 13:00 UTC 223223m

MXFlash Trd Bal Non-EU*

Actual

Forecast

Previous

-0.7 Bln EUR

October 24 13:00 UTC 223223m

MX1st Half-Mth Infl YY*

Actual

Forecast

Previous

1.00 %

October 24 13:00 UTC 223223m

USIGAE Econ Activity MM

Actual

Forecast

Previous

-0.7 %

October 24 13:00 UTC 223223m

MXIGAE Econ Activity YY

Actual

Forecast

1.50 %

Previous

1.00 %

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