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FxWirePro: ETH/EUR downside capped by daily Tenken-Sen, good to buy on dips

ETH/EUR pair is trading slightly above on Thursday and the pair has recovered slightly after declining till 44 yesterday (KRAKEN). It is currently trading around 45.53 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 44.02

Kijun-Sen level: 43.94

Major Trend reversal level - (Mar 18th, 2017 low) – 28

Long-term trend remains to be bullish. ETH/EUR downside capped by daily tenken-sen and any break below confirms minor weakness.

The major resistance is around 49.48 (Mar 29th, 2017 high) and any break above targets 56.32 (161.8%T retracement of 49.48 and 38.40). Short term support- 44 (daily Tenken-Sen) and any break below will drag the pair till 41.37 (23.6% retracement of 49.48 and 38.40)/ 38.40 (Apr 4th low)/35 (Mar 22nd low).

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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 217217m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 217217m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 12:55 UTC 217217m

USRedbook MM

Actual

Forecast

Previous

-1.4 %

October 24 12:55 UTC 217217m

USRedbook YY

Actual

Forecast

Previous

3.6 %

October 24 13:00 UTC 222222m

MXFlash Trd Bal Non-EU*

Actual

Forecast

Previous

-0.7 Bln EUR

October 24 13:00 UTC 222222m

MX1st Half-Mth Infl YY*

Actual

Forecast

Previous

1.00 %

October 24 13:00 UTC 222222m

USIGAE Econ Activity MM

Actual

Forecast

Previous

-0.7 %

October 24 13:00 UTC 222222m

MXIGAE Econ Activity YY

Actual

Forecast

1.50 %

Previous

1.00 %

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