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Why MNI
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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 AccessBearish Threat
- RES 4: 1.2243 High Feb 25 and a key resistance
- RES 3: 1.2184 High Feb 26
- RES 2: 1.2150 High Apr 29
- RES 1: 1.2085 61.8% of Friday's range
- PRICE: 1.2040 @ 05:56 BST May 4
- SUP 1: 1.2014/1987 20- and 50-day EMAs
- SUP 2: 1.1943 Low Apr 19
- SUP 3: 1.1861 Low Apr 7 and 8
- SUP 4: 1.1795 Low Apr 6
EURUSD traded sharply lower on Apr 30 and this threatens the recent bullish theme. Last week saw price trade above the bear channel top drawn off the Jan 6 high. The failure to follow through however does warn of a false break and a key S/T resistance has been defined at 1.2150, Apr 29 high. A firm support lies at 1.2014/1987, the 20 and 50-day EMAs. A break would trigger a stronger sell-off. Clearance of 1.2150 is needed to reinstate the uptrend.
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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.