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Daily Market Update 05 Nov 2020

EURUSD

HIGH

1.1744

LOW

1.17105

BID

1.17395

ASK

1.17402

CHANGE

0%

TIME

09:23:41

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

High

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Appreciation above the resistance level at 1.1771 (R1) might initiate upside progress. In such scenario we would suggest next intraday target at 1.1820 (R2) and any further rise would then be limited to final resistance at 1.1870 (R3). Downwards scenario: Our initial support level lies at 1.1711 (S1). Loss here is liable to downgrade the price towards to next support at 1.1657 (S2) and then further weakening would be limited to final support at 1.1602 (S3).

Resistance Levels: 1.1771, 1.1820, 1.1870

Support Levels: 1.1711, 1.1657, 1.1602

 

GBPUSD

HIGH

1.30199

LOW

1.29294

BID

1.30112

ASK

1.30119

CHANGE

0.01%

TIME

09:23:41

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

High

Upwards scenario: Our next resistance level is placed today at 1.2995 (R1). Clearance here is required to activate bullish pressure towards to next target at 1.3068 (R2) and any further price appreciation would then be limited to 1.3139 (R3) mark today. Downwards scenario: Market could test an important support level at 1.2924 (S1) on the downside. Loss here would suggest next target at 1.2853 (S2) and 1.2775 (S3) in potential.

Resistance Levels: 1.2995, 1.3068, 1.3139

Support Levels: 1.2924, 1.2853, 1.2775

 

USDJPY

HIGH

104.537

LOW

104.216

BID

104.315

ASK

104.323

CHANGE

0%

TIME

09:23:41

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

High

Upwards scenario: Downside structure remains in focus, however break of our initial resistance at 104.64 (R1) could enable recovery process and suggest next interim aim 104.98 (R2). Final resistance is seen today at important fractal level – 105.34 (R3). Downwards scenario: Our next support level is placed at 104.14 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial target zone from 103.50 (S2) onto 102.85 (S3) price levels.

Resistance Levels: 104.64, 104.98, 105.34

Support Levels: 104.14, 103.50, 102.85

FXCC

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