FxWirePro: Monero (XMR/USD) Daily Outlook

Fibo Quantum

Monday, August 13, 2018 12:57 PM UTC

Major support  $90 (Trend line support)

Bitcoin has shown a minor recovery of more than 8% from the low of $6008. The altcoins has showed a minor jump following footsteps of BTC.

The pair has shown a minor jump once gain after hitting low of $87.02. Intraday trend is bullish as long as support $87 holds.

XMR declined continuously from the minor top of $151.95 till $87 almost more than $60. 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 $87 for the TP of $110

 

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