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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 AccessMNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29
MNI BRIEF: Japan Q3 Capex Up Q/Q; GDP Revised Lower
Breaks Support And Resumes Downtrend
- RES 4: 0.9149 Oct 20 high
- RES 3: 0.9107 High Oct 23
- RES 2: 0.9069 High Nov 5 / Trendline drawn off the Sep 11 high
- RES 1: 0.8982 Intraday high
- PRICE: 0.8928 @ 16:44 GMT Nov 10
- SUP 1: 0.8884 Low Nov 10
- SUP 2: 0.8866 Low Sep 3 and a key support
- SUP 3: 0.8830 Low May 15
- SUP 4: 0.8748 61.8% Feb - March Rally
EURGBP traded sharply lower Tuesday clearing 0.8946, Nov 4 low, the bear trigger, as well as the 200-dma. The break lower negates a recent bullish candle pattern and instead confirms a resumption of the underlying downtrend that has been in place since Sep 11. Note too that trendline resistance drawn off the Sep 11 high remains intact, reinforcing the current bearish theme. Attention turns to 0.8866, Sep 3 low. Initial resistance is at 0.8982, the Nov 10 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.