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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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June 28 15:30 UTC Released

BRForeign Exchange Flows*

Actual

-5.279 bln

Forecast

Previous

-3.401 bln

June 28 14:30 UTC Released

BRBank Lending MM*

Actual

-0.2 %

Forecast

Previous

-0.2 %

June 28 19:00 UTC 192192m

ARBank Lending MM*

Actual

Forecast

1.9 %

Previous

0.8 %

June 28 21:00 UTC 312312m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

82 bln

June 28 23:50 UTC 482482m

JPForeign Bond Investment

Actual

Forecast

2.6 bln JPY

Previous

3.2 bln JPY

June 28 23:50 UTC 482482m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 482482m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-331.6 bln JPY

June 28 23:50 UTC 482482m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 482482m

DERetail Sales YY

Actual

Forecast

2.6 %

Previous

3.2 %

June 28 23:50 UTC 482482m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

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