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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
- The significant strength in the single currency following the ECB’s press conference has seen EURUSD blow through many noted resistance levels including the 50-day exponential moving average and the bear channel top drawn from the June 1, 2021 high.
- With the rally showing few signs of abating, we note the pair narrowing the gap with cluster resistance just ahead of the 1.1500 mark that may prove a short-term obstacle for renewed Euro optimism.
- The January 14 high at 1.1483 is a key resistance but just above the year’s high we highlight an important 50% Fibonacci retracement, taken from the 2020 - 2021 range. The level resides at 1.1493 which is significantly just two pips away from the March 2020, pandemic highs at 1.1495.
- German factory orders, French IP and Eurozone retail sales data should all play second fiddle to the January US employment report due at 1330GMT/0830ET
Source: MNI/Bloomberg
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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