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Daily Market Update 23 Nov 2020

EURUSD

HIGH

1.18784

LOW

1.18501

BID

1.18746

ASK

1.18753

CHANGE

0%

TIME

08:59:43

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: On the upside potential is seen for a break above the resistance at 1.1890 (R1). In such case we would suggest next target at 1.1915 (R2) and any further rise would then be limited to final resistance at 1.1940 (R3). Downwards scenario: On the other hand, a break of the support at 1.1864 (S1) is required to determine negative intraday bias and enable lower target at 1.1839 (S2). Clearance of this target would open a path towards to final support for today at 1.1816 (S3).

Resistance Levels: 1.1890, 1.1915, 1.1940

Support Levels: 1.1864, 1.1839, 1.1816

 

GBPUSD

HIGH

1.33315

LOW

1.32755

BID

1.33172

ASK

1.33179

CHANGE

0%

TIME

08:59:43

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: GBPUSD resumed an uptrend extension, however further upside progress looks limited to the resistive barrier at 1.3331 (R1). Clearance here is required to open way towards to next targets at 1.3375 (R2) and 1.3420 (R3) in potential. Downwards scenario: Our next support level is seen at 1.3288 (S1). Penetration below this mark would suggest our lower target at 1.3240 (S2) and then any further weakening would be limited to final support for today at 1.3195 (S3).

Resistance Levels: 1.3331, 1.3375, 1.3420

Support Levels: 1.3288, 1.3240, 1.3195

 

USDJPY

HIGH

103.861

LOW

103.714

BID

103.764

ASK

103.771

CHANGE

0%

TIME

08:59:43

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Next resistive barrier on the upside is seen at 103.86 (R1). Penetration above that mark might trigger upside pressure and expose our next resistive mean at 104.03 (R2) on route towards to final target for today at 104.20 (R3). Downwards scenario: On the other hand, loss of important support level at 103.64 (S1) would suggest further bearish tendency evolvement. Our next target is placed at 103.44 (S2) and any further price weakening would then be limited to final support for today at 103.24 (S3).

Resistance Levels: 103.86, 104.03, 104.20

Support Levels: 103.64, 103.44, 103.24

FXCC

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