• FxWirePro: btc/eur breaks above 21-ema, good to go long on dips

    Source: FxWire Pro - Digital Currency / 16 Jul 2018 09:01:46   America/New_York

    • BTC/EUR trades 3.58% higher on the day at 5633 at the time of writing.
       
    • The pair has broken above 21-EMA at 5526, bias higher.
       
    • Price action has shown breakout at channel top, we see scope for further upside.
       
    • Technical indicators on daily charts are turning bullish.
       
    • RSI has edged above 50, and biased higher. Stochs have rolled over from near oversold levels.
       
    • +ve DMI has shown a crossover on -ve DMI. 

    Support levels - 5528 (21-EMA), 5424 (5-DMA), 5215 (July 12 low)

    Resistance levels - 5701 (23.6% Fib), 5800 (July 7 high), 5853 (55-EMA), 5880 (June 21 high)

    Recommendation: Good to go long on dips around 5600, SL: 5425, TP: 5700/ 5800/ 5850

    FxWirePro Currency Strength Index: FxWirePro's Hourly BTC Spot Index was at 160.334 (Bullish), while Hourly EUR Spot Index was at 36.3851 (Neutral) at 1215 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
     

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