Monero XMR/USD completes the trading week near area 83. Cryptocurrency is trading below the lower Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend for Monero. Ichimoku Kinko Hyo indicator cloud is expected near the level of 93, from which one should expect a rebound and a continuation of the development of the bearish trend with a target to falling near the level of 55.
Monero weekly forecast on October 23 — 27, 2017
Earlier, a signal of average strength was obtained for sell of the Monero cryptocurrency, by crossing the signal lines at level 93. Canceling the variant of falling quotes Monero will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations above the area of 110, which indicates the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XMR/USD is with the breakdown of the lower boundary of the model «Triangle» and closing below 79.
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