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Daily Market Update 12 Nov 2020

EURUSD

HIGH

1.1788

LOW

1.17583

BID

1.17657

ASK

1.17663

CHANGE

0%

TIME

08:58:38

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Pullback formation from the initial price drop is possible today. Price tag at 1.1792 (R1) provides next resistive measure and loss here would suggest further appreciation towards to our initial targets at 1.1824 (R2) and 1.1892 (R3). Downwards scenario: After the initial acceleration on the upside, price bounced lower and open support at 1.1752 (S1) for the attack. Break here is required to enable marks at 1.1702 (S2) and 1.1652 (S3) as the next destination points.

Resistance Levels: 1.1792, 1.1824, 1.1892

Support Levels: 1.1752, 1.1702, 1.1652

 

GBPUSD

HIGH

1.32281

LOW

1.31809

BID

1.31875

ASK

1.31885

CHANGE

-0.01%

TIME

08:58:38

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside GBPUSD is limited to the next resistive barrier at 1.3206 (R1). Clearance here could enable ascending structure and suggest next target at 1.3244 (R2). Final resistance lies at 1.3281 (R3) today. Downwards scenario: On the other side, a dip below the initial support level at 1.3171 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 1.3133 (S2) and 1.3096 (S3) in potential.

Resistance Levels: 1.3206, 1.3244, 1.3281

Support Levels: 1.3171, 1.3133, 1.3096

 

USDJPY

HIGH

105.475

LOW

105.146

BID

105.227

ASK

105.235

CHANGE

0.01%

TIME

08:58:38

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: After the neutral tone domination, price is required to clear resistive barrier at 105.40 (R1) to resume ascending structure. In such event we would suggest higher intraday targets at 106.06 (R2) and 106.73 (R3) in potential. Downwards scenario: Next support level is seen at 104.86 (S1) and loss here is required to clear the way towards to our target zone from 104.19 (S2) onto 103.52 (S3).

Resistance Levels: 105.40, 106.06, 106.73

Support Levels: 104.86, 104.19, 103.52

FXCC

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