LTC/EUR trades slightly below 200-DMA, dip till 2.90 likely
LTC/EUR is seen trading below on Tuesday. The pair is trading in narrow range between 3.604 and 3.39 for the past five trading session .It is currently trading around 3.419 at the time of writing. Ichimoku analysis of da…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
LTC/EUR is seen trading below on Tuesday. The pair is trading in narrow range between 3.604 and 3.39 for the past five trading session .It is currently trading around 3.419 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 3.55
Kijun-Sen level: 3.4170
Trend reversal level - (90 day MA) - 3.519
Long- term trend remains to be neutral. In the daily chart, pair is trading slightly below 200- day MA and dip till 2.90 is possible.
Major resistance is around 3.55 (daily Tenkan-Sen) and any break above targets break above targets 3.71 (100- day MA)/4/4.15 (Jul 2nd 2016 high). Short-term support is seen at 3.370 (Sep 9th 2016 low) and any violation below targets 3.29 (Aug 28th low)/3.134 (61.8% retracement of 2.90 and 3.5130)/2.90 (Aug 2nd low).
