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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.
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Free AccessMNI POLITICAL RISK - Trump Announces Raft Of Key Nominations
BRIEF: EU-Mercosur Deal In Final Negotiations - EC
Bearish Corrective Cycle Still In Play
- RES 4: 1.2353 High Apr 20, 2018
- RES 3: 1.2349 High Jan 6
- RES 2: 1.2230/85 High Jan 11 / 8
- RES 1: 1.2190 High Jan 22
- PRICE: 1.2126 @ 16:18 GMT Jan 25
- SUP 1: 1.2054 Low Jan 18
- SUP 2: 1.2011 High Sep 1 and a former breakout level
- SUP 3: 1.1976 50.0% retracement of the Nov 4 - Jan 6 rally
- SUP 4: 1.1897 2.0% 10-dma envelope
EURUSD is holding onto last week's gains and testing the 20-day EMA at 1.2165. Last week's recovery is seen as a pause in the current bearish cycle and further S/T weakness is likely with the pair still in a corrective phase. This follows the recent sell-off from 1.2349, Jan 6 high. A resumption of weakness would open 1.2011, Sep 1 high next and 1.1976, a Fibonacci retracement. Above the 20-day EMA, 1.2230 marks a firm resistance, Jan 11 high.
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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.