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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.
FOREX
The USD Index (DXY) remains in a clear uptrend and indications are that the path of least resistance remains up and that the USD will continue to appreciate over the medium-term. The monthly chart highlights an important break that occurred recently and some price objectives that are possible over the medium-term.
- An important technical break occurred in June.
- A strong monthly close in June highlighted a clear break of an area of resistance around the 103.00 handle.
- This marked the top of a multi-year range that price had established since early 2017.
- The range breakout represents an important bullish break and reinforces the primary uptrend.
- Range breakouts allow us to calculate a price objective, once a break is confirmed.
- The height of the range is projected from the breakout to identify, in this case, a long-term objective.
- The projection is 117.00. Note that the range breakout also raises the possibility of an appreciation to the 120.00 handle that was last tested in 2001 and 2002.
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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