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Daily Market Update 30 Oct 2020

EURUSD HIGH1.16942 LOW1.16678 BID1.1679 ASK1.16796 CHANGE0% TIME08:57:07

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

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

 

 

GBPUSD HIGH1.29389 LOW1.2902 BID1.29054 ASK1.2906 CHANGE0% TIME08:57:07

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

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

 

USDJPY HIGH104.625 LOW104.122 BID104.299 ASK104.306 CHANGE0% TIME08:57:07

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

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

FXCC

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