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BTC/EUR is seen trading slightly above on Friday. The pair is trading in a narrow range in between 548 and 540 for the past three trading days (COINBASE). It is currently trading around 543.50 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 547.09
Kijun-Sen level: 535.09
Trend reversal level - (100 days MA)-566.45
Long-term trend remains to be bullish. In the daily chart, BTC/EUR is struggling to break above 10 –day MA and any break above targets 566 (100- day MA) is possible.
Major resistance is around 549.20 (10- day MA) and any violation above will take the pair till 566 (100-day MA)/575/608 (61.8% retracement of 715.65 and 434.78). Short-term support is seen at 539 (55- day EMA) and any break below targets 535 (21- day MA)/513 (38.2% retracement of 434.58 and 562.30).
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BTC/EUR faces strong resistance at 550, break above targets 566/575
Friday, September 16, 2016 7:45 AM UTC
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