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Daily Market Update 17 Nov 2020

EURUSD

HIGH

1.18666

LOW

1.18502

BID

1.18569

ASK

1.18575

CHANGE

0%

TIME

09:03:45

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

High

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.1868 (R1) would enable bullish pressure and open route towards to our next targets at 1.1905 (R2) and 1.1942 (R3). Downwards scenario: On the other hand, our next support level aligns at 1.1839 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 1.1802 (S2) and 1.1764 (S3).

Resistance Levels: 1.1868, 1.1905, 1.1942

Support Levels: 1.1839, 1.1802, 1.1764

 

GBPUSD

HIGH

1.32332

LOW

1.31825

BID

1.32191

ASK

1.32199

CHANGE

0%

TIME

09:03:45

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: To enable further upwards formation, price needs to clear resistive barrier at 1.3242 (R1). In such case we would suggest next target at 1.3285 (R2) and then any further price progress would face final resistance at 1.3330 (R3). Downwards scenario: On the downside we see potential to positively retest our initial support measure at 1.3196 (S1). Clearance here is required to open route towards to our intraday targets at 1.3150 (S2) and 1.3105 (S3) in potential.

Resistance Levels: 1.3242, 1.3285, 1.3330

Support Levels: 1.3196, 1.3150, 1.3105

 

USDJPY

HIGH

104.594

LOW

104.42

BID

104.525

ASK

104.532

CHANGE

0%

TIME

09:03:45

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: USDJPY remains under the bearish pressure on the medium-term perspective. However, break of resistive measure at 104.68 (R1) is liable to initiate retracement action towards to our next targets at 105.03 (R2) and 105.38 (R3) in potential. Downwards scenario: An evidence of further descending structure evolvement could be provided with a break of our next support level at 104.34 (S1). In such case we would suggest next intraday targets at 104.00 (S2) and 103.65 (S3).

Resistance Levels: 104.68, 105.03, 105.38

Support Levels: 104.34, 104.00, 103.65

FXCC

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