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Daily Market Update 10 Nov 2020

EURUSD

HIGH

1.18383

LOW

1.18066

BID

1.18292

ASK

1.18299

CHANGE

0%

TIME

08:58:39

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Instrument remains downwards oriented on the bigger picture, though possibility of price appreciation is seen above the next resistance level at 1.1861 (R1). Break here would open a route towards to our intraday targets at 1.1908 (R2) and 1.1954 (R3). Downwards scenario: Further downside extension is limited now to the key support level at 1.1808 (S1). Break here is required to open a route towards to lower aim at 1.1762 (S2) and then any further market weakening would be targeting final support at 1.1715 (S3).

Resistance Levels: 1.1861, 1.1908, 1.1954

Support Levels: 1.1808, 1.1762, 1.1715

 

GBPUSD

HIGH

1.31983

LOW

1.31563

BID

1.31892

ASK

1.31901

CHANGE

0%

TIME

08:58:39

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: If the price holds its momentum on the upside we would expect loss of resistance at 1.3205 (R1) later on today. Any further rise will then bring focus to the next resistance level at 1.3299 (R2) and even higher target at 1.3393 (R3). Downwards scenario: Our technical outlook would turn into negative side below the support level at 1.3141 (S1). Possible price depreciation would then be targeting support at 1.3047 (S2) on route to final target at 1.2954 (S3).

Resistance Levels: 1.3205, 1.3299, 1.3393

Support Levels: 1.3141, 1.3047, 1.2954

 

USDJPY

HIGH

105.363

LOW

104.817

BID

105.057

ASK

105.065

CHANGE

-0.01%

TIME

08:58:39

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Currently price deviates from the initial upwards structure. Penetration above the resistance level at 105.25 (R1) is required to resume upwards progress and suggest in that case next intraday targets at 105.78 (R2) and 106.32 (R3). Downwards scenario: On the other hand, progress below the initial support level at 104.73 (S1) might initiate new step of descending structure. Lower support is seen at 104.19 (S2) and any further market weakening would then be limited to final aim at 103.65 (S3).

Resistance Levels: 105.25, 105.78, 106.32

Support Levels: 104.73, 104.19, 103.65

FXCC

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