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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.
OUTLOOK
- In FX, EURUSD recovered from Monday’s session low. The pair is trading higher today and price has pierced 1.0930, Mar 23 high. 1.0930 represents a key short-term hurdle for bulls and a clear break would reinstate the recent bull theme and signal scope for a 1.1033, the Feb 2 high. On the downside, support to watch lies at 1.0774 (20-day EMA) and 1.0714 (50-day EMA).
- Short-term weakness in GBPUSD is trading higher today. The pair has breached key resistance at 1.2448, the Jan 23 high and the top of broad range price has been trading inside since mid-December last year. The break represents an important medium and short-term one and signals the next stage of the uptrend that started Sep 26 last year. The focus is on a climb towards 1.2555 next, the top of a MA envelope study. Support to watch lies at 1.2235, the 20-day EMA.
- The trend direction in USDJPY remains down and last week’s gains are considered corrective. However, the 50-day EMA has been tested, it intersects at 133.30 and represents a key short-term hurdle for bulls. A clear break would alter the picture and suggest scope for a stronger recovery. This would open 133.77, a Fibonacci retracement. On the downside, initial support lies at 132.17, today’s intraday low.
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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