Home / Trading / Signal / Daily Market Update / Daily Market Update 18 Nov 2020

Daily Market Update 18 Nov 2020

EURUSD

HIGH

1.18789

LOW

1.18501

BID

1.18788

ASK

1.18794

CHANGE

0.01%

TIME

09:05:39

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: EURUSD remains in uptrend formation, however further upwards progress is limited now to the local high at 1.1893 (R1). Clearance here is required to open way towards to next targets at 1.1930 (R2) and 1.1966 (R3) in potential. Downwards scenario: On the other side, depreciation below the support barrier at 1.1854 (S1) might provide sufficient space for the medium term recovery phase. In such case we would suggest next intraday targets at 1.1820 (S2) and then 1.1786 (S3).

Resistance Levels: 1.1893, 1.1930, 1.1966

Support Levels: 1.1854, 1.1820, 1.1786

 

GBPUSD

HIGH

1.32702

LOW

1.32432

BID

1.32651

ASK

1.32663

CHANGE

0.01%

TIME

09:05:39

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Upward structure remains strong on the bigger picture and we see potential to test our initial resistance level at 1.3271 (R1). Break here is required to enable bullish pressure and drive market price towards to next target zone from 1.3320 (R2) onto 1.3370 (R3). Downwards scenario: After the initial acceleration on the upside, price bounced lower and open support at 1.3225 (S1) for the attack. Break here is required to enable marks at 1.3169 (S2) and 1.3114 (S3) as the next destination points.

Resistance Levels: 1.3271, 1.3320, 1.3370

Support Levels: 1.3225, 1.3169, 1.3114

 

USDJPY

HIGH

104.201

LOW

103.932

BID

103.941

ASK

103.949

CHANGE

0%

TIME

09:05:39

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: USDJPY settled clear downtrend structure, however recovery action is possible today. Mark at 104.16 (R1) is a key y point on the upside. Loss here is required to enable our intraday targets at 104.60 (R2) and 105.03 (R3). Downwards scenario: On the downside, bearish pressure might push to test initial support level at 103.86 (S1). Loss here would suggest interim target at 103.40 (S2) and then potential losses would be limited to final support at 102.95 (S3).

Resistance Levels: 104.16, 104.60, 105.03

Support Levels: 103.86, 103.40, 102.95

FXCC

Check Also

44 Forex Trading Tips

01. Time is your friend in the market, yet most traders make it into an …

Leave a Reply

Your email address will not be published. Required fields are marked *

Language »