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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 AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Trend Outlook Remains Bearish
- RES 4: 1.0769 High Sep 12
- RES 3: 1.0732 50-day EMA
- RES 2: 1.0674 High Sep 21
- RES 1: 1.0604/11 20-day EMA/High Oct 10
- PRICE: 1.0602 @ 16:29 BST Oct 10
- SUP 1: 1.0448 Low Oct 03 and the bear trigger
- SUP 2: 1.0406 50.0% retracement of the Sep ‘22 - Jul ‘23 bull leg
- SUP 3: 1.0335 2.0% 10-dma envelope
- SUP 4: 1.0291 Low Nov 30 2022
EUR/USD finished higher for a fifth consecutive session on Tuesday, showing above the 20-day EMA in the process. As a result, the outlook is beginning to improve for the pair, however momentum measures and the medium-term trend direction remain lower for now. Recent cycle lows printed last week confirmed a resumption of the downtrend, opening 1.0406, a Fibonacci retracement. A close above the 20-day EMA is required to then open 1.0674 and levels last seen in late September.
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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.