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Daily Market Update 29 Oct 2020

EURUSD

HIGH

1.17585

LOW

1.17433

BID

1.17496

ASK

1.17502

CHANGE

0.01%

TIME

09:02:09

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Volatility increase is possible today due to the important macroeconomic news announcements. On the upside next on tap is seen resistive measure at 1.1769 (R1), clearance here would open way towards to next targets at 1.1813 (R2) and 1.1856 (R3). Downwards scenario: On the other hand, risk of correction development is seen below the support barrier at 1.1732 (S1). Break here is required to enable our intraday targets at 1.1689 (S2) and 1.1645 (S3) on the downside.

Resistance Levels: 1.1769, 1.1813, 1.1856

Support Levels: 1.1732, 1.1689, 1.1645

 

GBPUSD

HIGH

1.30249

LOW

1.29748

BID

1.30036

ASK

1.30047

CHANGE

0%

TIME

09:02:09

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.3050 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.3076 (R2) and 1.3102 (R3). Downwards scenario: Our technical outlook would turn into negative side below the support level at 1.2991 (S1). Possible price depreciation would then be targeting support at 1.2956 (S2) on route to final target at 1.2930 (S3).

Resistance Levels: 1.3050, 1.3076, 1.3102

Support Levels: 1.2991, 1.2956, 1.2930

 

USDJPY

HIGH

104.501

LOW

104.26

BID

104.341

ASK

104.348

CHANGE

0%

TIME

09:02:09

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: USDJPY remains sideways oriented on the hourly chart. Resistance at 104.54 (R1) is our reference point on the upside and loss here would next target at 104.79 (R2). Any further market rise would be limited to final aim at 105.05 (R3). Downwards scenario: Next support level is seen 104.20 (S1). Possible penetration below this mark would open way towards to next target at 103.95 (S2) and then any further market decline would be limited to last mark at 103.70 (S3).

Resistance Levels: 104.54, 104.79, 105.05

Support Levels: 104.20, 103.95, 103.70

FXCC

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