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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 POLITICAL RISK ANALYSIS - Week Ahead 2-8 December
MNI POLITICAL RISK - Trump Targets BRICS w/New Tariff Threat
TECHS: Decline Slows
- RES 4: 1.3399 High Aug 7 and key resistance
- RES 3: 1.3330 20-day EMA
- RES 2: 1.3347 High Aug 12
- RES 1: 1.3272 High Aug 14 and key resistance
- PRICE: 1.3184 @ 17:22 BST Aug 19
- SUP 1: 1.3119 Low Jan 24
- SUP 2: 1.3103 3.0% Lower Bollinger Band
- SUP 3: 1.3057 61.8% retracement of the 2017 - 2020 rally
- SUP 4: 1.3007 2.0% 10-dma envelope
USDCAD remains bearish. The pair continues to extend its downward trajectory printing fresh cycle lows below 1.3200. Bearish conditions remain clearly intact with a bearish sequence of lower lows and lower highs dominating. The break lower this week paves the way for a move towards 1.3119, Jan 24 low and 1.3057, a Fibonacci retracement. Further out, scope is for the Dec 31 2019 low of 1.2952. Resistance is at 1.3272, Aug 14 high.
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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.