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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 AccessGains Are Considered Corrective
- RES 4: 1.0769 High Sep 12
- RES 3: 1.0740 50-day EMA
- RES 2: 1.0674 High Sep 21
- RES 1: 1.0618 20-day EMA
- PRICE: 1.0523 @ 05:42 BST Oct 5
- SUP 1: 1.0448 Low Oct 03
- SUP 2: 1.0406 50.0% retracement of the Sep ‘22 - Jul ‘23 bull leg
- SUP 3: 1.0361 2.0% 10-dma envelope
- SUP 4: 1.0291 Low Nov 30 2022
EURUSD remains in a downtrend and traded to a fresh trend low Tuesday, confirming a resumption of the trend. The move lower maintains the price sequence of lower lows and lower highs and note that moving average studies are in bear mode position. Attention is on 1.0406, a Fibonacci retracement. Initial firm resistance is at 1.0618, the 20-day EMA. A break would signal the start of a correction. Gains are considered corrective.
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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.