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Daily Market Update 06 Nov 2020

EURUSD

HIGH

1.18466

LOW

1.1795

BID

1.18304

ASK

1.18311

CHANGE

-0.01%

TIME

09:14:21

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

High

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Risk of further price appreciation is seen above the resistive measure at 1.1859 (R1). Break here is required to open path towards to next target at 1.1945 (R2) and then final target could be exposed at 1.2030 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 1.1792 (S1). Clearance here would suggest next interim target at 1.1706 (S2) and if the price holds its momentum we would suggest final aim at 1.1618 (S3).

Resistance Levels: 1.1859, 1.1945, 1.2030

Support Levels: 1.1792, 1.1706, 1.1618

 

GBPUSD

HIGH

1.31567

LOW

1.31117

BID

1.312

ASK

1.31211

CHANGE

-0.01%

TIME

09:14:21

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

High

Upwards scenario: Further upwards formation is limited to resistive measure at 1.3157 (R1). A break above it would suggest next intraday target 1.3245 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.3333 (R3). Downwards scenario: On the other hand if the price failed to gain momentum on the upside we expect to see clearance of our next support level at 1.3081 (S1). Our intraday targets locates at 1.2997 (S2) and 1.2914 (S3).

Resistance Levels: 1.3157, 1.3245, 1.3333

Support Levels: 1.3081, 1.2997, 1.2914

 

USDJPY

HIGH

103.756

LOW

103.357

BID

103.483

ASK

103.491

CHANGE

0.01%

TIME

09:14:21

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

High

Upwards scenario: Recent piece weakening on USDJPY turned intraday market sentiment to the bearish side. However, chances to recover initial losses are seen above the immediate resistance at 103.80 (R1). Loss here would suggest next target zone from 104.57 (R2) onto 105.34 (R3) price levels. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is seen support at 103.34 (S1). Penetration below this mark would suggest next intraday targets at 102.60 (S2) and 101.85 (S3).

Resistance Levels: 103.80, 104.57, 105.34

Support Levels: 103.34, 102.60, 101.85

FXCC

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