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FxWirePro: BTC/EUR range-bound at major trendline support at 7670, break below to see further weakness

  • BTC/EUR is trading in a narrow range, holds above major trendline support at 7670.
     
  • The pair had been in a consolidation phase after break below 100-DMA.
     
  • Price action has now broken consolidation and has resumed weakness.
     
  • Technical studies are biased lower. RSI and Stochs support downside. We see -ve DMI dominance.
     
  • Break below major trendline support at 7670 could see test of 200-DMA at 6503.
     
  • On the flipside, 5-DMA at 8746 is immediate resistance. Break above could see minor upside till 20-DMA.

Support levels - 7670 (trendline), 6503 (200-DMA), 5488 (78.6 % Fib retrace of 2502 to 16457 rally)

Resistance levels - 8760 (5-DMA), 9479 (50% Fib), 9592 (100-DMA)

Recommendation: Good to go short on break below 7670 (trendline), SL: 8800, TP: 6500/ 6000/ 5500.

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2018-02-19 16:32:32
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2018-02-19 16:31:45
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2018-02-19 16:30:45
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February 19 13:00 UTC Released

RUReal Wages YY

Actual

6.2 %

Forecast

4.6 %

Previous

4.6 %

February 19 13:00 UTC Released

RURetail Sales YY

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2.8 %

Forecast

3 %

Previous

3.1 %

January 31 00:00 UTC 2845528455m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 2845528455m

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2016 bln ARS

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January 22 19:00 UTC 4027540275m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 2845528455m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 4027540275m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 2845528455m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 2845528455m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 2845528455m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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