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FxWirePro: ETH/USD trades lower, likely to find support at 20-DMA

ETH/USD is trading lower on Wednesday as it broke below 10-DMA. It is currently trading at 450 levels at press time (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 450.75

Kijun-Sen: 396.95

On the upside, resistance is seen at 458 (5-DMA) and a break above would see the pair testing 483 (trend line joining 395 and 498)/500. Further strength would target 519 (Upper Bollinger)/ 536 (113% extension of 201.28 and 498)/ 578.

On the flipside, support is likely to be found at 434 (2h 200-SMA) and any violation would drag it to 424 (20-DMA)/402 (November 30 low). Further weakness would see it testing 384 (38.2% retracement of 201.28 and 498)/352 (50-DMA).

Momentum studies: On the daily chart, bias appears to be weakening as the pair broke below 10-DMA. RSI is at 62 with lower bias, MACD line is below the signal line, and stochs are also showing a turn from near overbought levels.

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July 18 00:00 UTC Released

MYCPI YY

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0.8 0

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1.3 0

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July 17 20:00 UTC Released

UST Flows,Incl.Swaps

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31.2 Bln USD

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January 31 00:00 UTC 242309242309m

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2016 bln ARS

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2016 bln ARS

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January 22 19:00 UTC 254129254129m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 242309242309m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 254129254129m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 242309242309m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 242309242309m

ARAnnual Primary Balance*

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2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 242309242309m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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