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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: Japan Oct Real Wages Unchanged Y/Y
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MNI ASIA MARKETS ANALYSIS: Consolidation Ahead Nov Jobs Report
Corrective Bounce Extends
- RES 4: 1.0268 High Aug 15
- RES 3: 1.0203 High Aug 17
- RES 2: 1.0158 Channel top from the Feb 10 high
- RES 1: 1.0113 High Sep 9
- PRICE: 1.0035 @ 16:04 BST Sep 9
- SUP 1: 0.9931/9864 Low Sep 8 / 6 and the bear trigger
- SUP 2: 0.9800 Round number support
- SUP 3: 0.9785 2.00 projection of the Jun 9 - 15 - 27 price swing
- SUP 4: 0.9628 Channel base drawn from the Feb 10 high
EURUSD recovered well off the week’s low into the Friday close. Short-term gains are considered corrective, however. A downtrend remains intact with the pair trading below its bear channel resistance and moving average studies still in a bear mode condition. A resumption of weakness would open 0.9800 next. Initial firm resistance is seen at 1.0090, Aug 26 high. Note that the channel top, drawn from the Feb 10 high, intersects at 1.0158 - a key resistance.
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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.