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FxWirePro: ETH/USD trades just shy of 5-DMA, break above to see minor bullishness

ETH/USD plunged to 556 levels on Tuesday but was able to close above 100-DMA at 783 levels. It is currently trading at 782 levels at the time of writing (Kraken).

On the upside, immediate resistance is seen at 808 (5-DMA) and a break above would target 856 (Cloud bottom)/899 (55-EMA). Further strength would see it testing 930 (10-DMA)/962 (50-DMA)/1001 (20-DMA).

On the downside, a break below 729 (lower Bollinger) would target 691 (100-DMA)/645 (113% extension of 1594.89 and 755). Further weakness would drag it to 600/556 (February 06 low)/526.

Momentum studies: On the daily chart, MACD line is below the signal line, RSI is weak at 40, stochs are near oversold levels, and major moving averages are biased lower – suggesting bearish bias. The pair’s upside is being capped by 5-DMA.

However, intraday bias appears bullish – on the 4h chart, stochs are biased higher, RSI is at 49 with upward bias, and MACD line is above the signal line.

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May 25 12:30 UTC Released

USDefense MM

Actual

-1.9 %

Forecast

-1 %

Previous

2.8 %

May 25 12:30 UTC Released

USAir

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1 %

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0.7 %

Previous

-0.4 %

January 31 00:00 UTC 164938164938m

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2016 bln ARS

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January 31 00:00 UTC 164938164938m

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2016 bln ARS

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January 22 19:00 UTC 176758176758m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 164938164938m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 176758176758m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 164938164938m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 164938164938m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 164938164938m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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