MARKET ANALYSIS – Intraday Analysis
Upwards scenario: EURUSD take a pause after the initial downwards structure. Possible price appreciation is limited now to the next resistive measure at 1.1704 (R1). Clearance here is required to enable our interim target at 1.1769 (R2) on route to final aim at 1.1833 (R3). Downwards scenario: Despite of the recent price acceleration on the upside, reversal scenario remains in focus. An important support level at 1.1658 (S1) shall be cleared to enable bearish potential and suggest lower targets at 1.1593 (S2) and 1.1529 (S3).
Resistance Levels: 1.1704, 1.1769, 1.1833
Support Levels: 1.1658, 1.1593, 1.1529
Upwards scenario: GBPUSD resumed consolidation phase, however, clearance of our resistance at 1.2933 (R1) is liable to resume new step of ascending structure. In such scenario we would suggest next intraday targets at 1.2985 (R2) and 1.3048 (R3) in potential. Downwards scenario: Negative market sentiment could be settled below the important support level at 1.2888 (S1). A dip lower here would enable next target at 1.2826 (S2) on route towards to final aim for today at 1.2764 (S3).
Resistance Levels: 1.2933, 1.2985, 1.3048
Support Levels: 1.2888, 1.2826, 1.2764
Upwards scenario: Upside risk aversion is seen above the next resistance level at 104.36 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 104.62 (R2) and 104.88 (R3) in potential. Downwards scenario: On the other hand, penetration below the support at 104.09 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 103.83 (S2) and 103.57 (S3) might be triggered.
Resistance Levels: 104.36, 104.62, 104.88
Support Levels: 104.09, 103.83, 103.57