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FxWirePro: BTC/EUR fails to extend channel breakout, eyes 200-DMA at 7434

  • BTC/EUR has failed to extend upside after showing a channel breakout in last week's trade.
     
  • Price has slipped lower to re-enter slopping channel, we see scope for further downside.
     
  • RSI has slipped below 50 levels, momentum studies are bearish, MACD is on verge of bearish crossover.
     
  • Bears now eye strong support at 200-DMA at 7434. Violation at 200-DMA will see further weakness.
     
  • Below 200-DMA next major supports align at 6000 levels and then 4712 (Feb 6 low).
     
  • On the upside, breakout above channel top (8300) could see minor upside.

Support levels - 7483 (23.6% Fib), 7434 (200-DMA), 6000 (Feb 2 low), 4712 (Feb 6 low)

Resistance levels - 8300 (channel top), 8612 (5-DMA), 9198 (38.2% Fib)

Recommendation: Good to go short on rallies around 8000/ 8100, SL: 8700, TP: 7500/ 7000/ 6350/ 6000.

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June 22 14:30 UTC Released

USECRI Weekly Annualized

Actual

3.1 %

Forecast

Previous

2.7 %

June 22 14:30 UTC Released

USECRI Weekly Index

Actual

150.1 %

Forecast

Previous

149.3 %

January 31 00:00 UTC 206976206976m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 206976206976m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 218796218796m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 206976206976m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 218796218796m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 206976206976m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 206976206976m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 206976206976m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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