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FxWirePro: ETH/EUR trades higher, good to buy on dips

ETH/EUR pair has recovered slightly after making a low of 43.30 on Apr 14th, 2017 (KRAKEN). It is currently trading around 46.75 at the time of writing.

Ichimoku analysis of daily chart indicates:

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 is around 44.02 (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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August 20 23:00 UTC Released

JPReuters Tankan DI

Actual

27 %

Forecast

Previous

26 %

August 20 21:00 UTC Released

KRPPI Growth MM*

Actual

0.1 %

Forecast

Previous

-0.4 %

August 21 08:30 UTC 129129m

ID7-Day Reverse Repo*

Actual

Forecast

Previous

6.278 %

August 21 08:30 UTC 129129m

IDDeposit Facility Rate*

Actual

Forecast

Previous

18.283 %

August 21 12:30 UTC 369369m

IDLending Facility Rate*

Actual

Forecast

Previous

0.9 %

August 21 12:30 UTC 369369m

DEZEW Economic Sentiment*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 369369m

USNational Activity Index*

Actual

Forecast

Previous

0.13 %

August 21 12:30 UTC 369369m

CAWholesale Trade MM

Actual

Forecast

-0.4 %

Previous

0.9 %

August 21 14:30 UTC 489489m

TRReuters Tankan DI

Actual

Forecast

Previous

811.8 Bln TRY

August 21 14:30 UTC 489489m

DEZEW Current Conditions*

Actual

Forecast

Previous

811.8 Bln TRY

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