FxWirePro: xmr/usd upside capped by 55- day EMA, good to sell on rallies
Source: FxWire Pro - Digital Currency / 19 Sep 2018 14:18:58 Europe/London
Bitcoin is consolidating after hitting high of 6596 and is currently trading around $6462. Any break below 5800 confirms bearish continuation.Major altcoins following foot steps of Bitcoin.
XMRUSD has shown a good recovery of more than 25% after hitting low of $96.67. The pair hits high of $122.95. It has lost more than $20 from the high.
The near term resistance is around $113.45 (55-day EMA) and any break above targets $128/$142/ $151.95.
On the lower side, near term support is around $106 (50- day MA) and any close below targets $100/$96/$76.
It is good to sell on rallies around $114-$115 with SL around $124 for the TP of $76.© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.