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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 AccessMNI ASIA OPEN: Early Geopol Risk Roils, Focus Turns To Fed
MNI ASIA MARKETS ANALYSIS: South Korea Rescinds Martial Law
One Impressive Drop Follows.....>
EURO-STERLING TECHS: One Impressive Drop Follows Another:
*RES 3: 0.9056 50% retracement of Aug 12 - Sep 20 decline
*RES 2: 0.9020 High Oct 10
*RES 1: 0.8925 50% retracement of yesterday's range
*PRICE: 0.8704 @ 15:13 GMT Oct 11
*SUP 1: 0.8700 61.8% April 2017 - August 2019 Rally
*SUP 2: 0.8694 Low Oct 11
*SUP 3: 0.8687 76.4% May - Aug Rally
The cross cratered Friday, bringing the two-day decline to close to 3.5%. This
blows out any bullish technical signals, returning focus to medium-term downside
targets at 0.8687 and downtrendline support at 0.8605. Key support going
forward, and the only level that slowed the cross, seems to be the 61.8% Fib of
the Apr 2017 - August 2019 rally, which cuts in mere pips below the Friday low.
The continued headline sensitivity risk suggests that any bearish outlook will
be cautious going forward.
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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.