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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 AccessTECHS: Price Signal Summary - Silver Rally Tests $30.00
- In the FX space, USDJPY remains firm following last week's two important resistance levels:
- The bear channel resistance drawn off the Mar 24 high and
- 104.40, Nov 11 high.
- The break highlights a key reversal and an important shift in sentiment. The focus is on 105.16 High Nov 13.
- EURUSD is softer but remains within the range defined by its key directional triggers. They are: support at 1.2054, Jan 18 low and 1.2190 resistance, Jan 22 high.
- EURGBP is softer with the focus on a break of 0.8800, to open 0.8759, the May 12, 2020 low.
- On the commodity front, Gold directional triggers are resistance at $1875.2, Jan 21 high and support at $1831.5, Jan 27 low. Silver has surged higher today, gapping at the open. $30.00 has been tested, a clear break would open $30.723, 50.0% retracement of the 2011 - 2020 downtrend. Volatility is likely to remain elevated. Support lies at $27.931, Friday's high. Oil contracts remain above support. Brent support is $54.40, Jan 22 low and WTI (H1) support lies at $51.44, Jan 22 low.
- In the FI space:
- Bunds (H1) key support is at 176.85, a trendline drawn off the Jan 12 low.
- Gilts (H1) support lies at 133.79 Jan 21 low.
- In equities, E-mini S&P futures traded lower last week and remain vulnerable despite the bounce so far today off the Asia-Pac low.
- Support to watch is at 3656.50, the overnight low with resistance seen at 3773.61, the 20-day EMA.
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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.