FxWirePro: Monero (XMR/USD) Daily Outlook

Friday, August 10, 2018 1:03 PM UTC

Major support  $90 (Trend line support)

The entire crypto market is trading weak following foot steps of Bitcoin. Bitcoin declined slightly after delay in Bitcoin ETF approval by Security Exchange Commission (SEC).

The pair has shown a minor jump once gain after hitting low of $93. Intraday trend is bullish as long as support $90 holds.

XMR declined continuously from the minor top of $151.95 till $90.85 almost more than $50. The pair took support near major trend line and showed a minor jump from that level.

The near term resistance is around $110 (23.6% fib) and any break above confirms minor bullishness. Any violation above targets $124 (daily Kijun-Sen)/134 (55- day EMA).

On the lower side, near term support is around $90and any break below targets $77/$70.

It is good to buy on dips around $92-92.50 with SL around $88 for the TP of $110

 

 

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