Monero XMR/USD completes the trading week near area 361. The cryptocurrency is traded above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bullish trend for Monero. The test area of Ichimoku Kinko Hyo signal lines near level 320 is expected, from which it is expected to rebound and continue the development of a bullish trend with a target near level 455.
Monero (XMR/USD) weekly forecast March 5 — 9, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the upper boundary of the channel, as well as a test of the resistance level. Earlier, a weak signal was received for buy of Monero cryptocurrency, due to the crossing of signal lines at level 245.
Cancellation of the variant of growth of quotations Monero will become a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below area 235, which will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations XMR/USD stands with the breakdown of the resistance area and closing above the level of 380.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
