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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EURUSD TECHS
- Last week’s key technical development in EURUSD was the break of the bear channel top drawn from the Feb 10 high - a bullish development.
- The latest pullback from 1.0094, Oct 27 high, is referred to as a return move and occurs when a key technical break occurs.
- The channel breakout means that the former resistance (the channel top) has become support.
- The return move is a retracement that will test the validity of last week’s break - a reversal - and whether the channel top will act as support.
- If it does and EURUSD recovers, this will reinforce the bullish implications of the channel breakout and strengthen the current bull cycle.
- The channel top intersects at 0.9821 and represents a key support.
- A failure to remain above 0.9821 would be a bearish development.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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