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Daily Market Update 16 Nov 2020

EURUSD

HIGH

1.18544

LOW

1.18279

BID

1.18476

ASK

1.18481

CHANGE

0.01%

TIME

09:27:05

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: While price is quoted below the 20 SMA our technical outlook would be negative. Though, appreciation above the resistance at 1.1854 (R1) might enable upwards penetration towards to next targets at 1.1890 (R2) and 1.1925 (R3). Downwards scenario: Local low at 1.1832 (S1) is the key support level on the way of downtrend expansion. With a loss here we would suggest next intraday target at 1.1798 (S2) and then final aim locates at 1.1764 (S3) price level.

Resistance Levels: 1.1854, 1.1890, 1.1925

Support Levels: 1.1832, 1.1798, 1.1764

 

GBPUSD

HIGH

1.32333

LOW

1.31687

BID

1.3215

ASK

1.32158

CHANGE

0.01%

TIME

09:27:05

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Next barrier on the upside lie at 1.3227 (R1). Surpassing of this level might enable our initial target at 1.3270 (R2) and any further gains would then be limited to last resistive structure at 1.3313 (R3). Downwards scenario: Risk of market depreciation is seen below the next support level at 1.3194 (S1). Clearance here would suggest lower targets at 1.3150 (S2) and 1.3105 (S3) in potential.

Resistance Levels: 1.3227, 1.3270, 1.3313

Support Levels: 1.3194, 1.3150, 1.3105

 

USDJPY

HIGH

104.731

LOW

104.483

BID

104.506

ASK

104.512

CHANGE

-0.02%

TIME

09:27:05

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Downtrend formation remains strong on the medium-term perspective, however upside progress is possible today. Loss of resistance at 104.71 (R1) is required to open path towards to higher target at 105.04 (R2) and then final aim is seen at 105.37 (R3) today. Downwards scenario: Penetration below the support at 104.48 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 104.13 (S2) and 103.78 (S3) might be triggered

Resistance Levels: 104.71, 105.04, 105.37

Support Levels: 104.48, 104.13, 103.78

FXCC

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