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Daily Market Update 03 Dec 2020

EURUSD

HIGH

1.21253

LOW

1.21037

BID

1.21236

ASK

1.21242

CHANGE

0%

TIME

09:29:18

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Ascending structure remains in focus on the bigger picture. Next resistance is seen at 1.2133 (R1). Break here is required to clear the way towards to higher targets at 1.2190 (R2) and 1.2248 (R3). Downwards scenario: On the other hand, failure to clear our next resistive measure would shift our focus to the next support level at 1.2092 (S1). Break here is required to open way towards to lower targets at 1.2038 (S2) and 1.1980 (S3) in potential.

Resistance Levels: 1.2133, 1.2190, 1.2248

Support Levels: 1.2092, 1.2038, 1.1980

 

GBPUSD

HIGH

1.34088

LOW

1.33512

BID

1.34007

ASK

1.34017

CHANGE

0%

TIME

09:29:18

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: GBPUSD gained momentum on the upside, turning medium-term bias to the positive side. Next resistive measure is seen at 1.3441 (R1). Loss here would suggest our intraday targets at 1.3485 (R2) and 1.3530 (R3). Downwards scenario: Risk of further price depreciation is seen below the support level at 1.3376 (S1). A fall below it would enable next aim at 1.3330 (S2) and any further market decline would then be targeting final support at 1.3286 (S3).

Resistance Levels: 1.3441, 1.3485, 1.3530

Support Levels: 1.3376, 1.3330, 1.3286

 

USDJPY

HIGH

104.533

LOW

104.349

BID

104.379

ASK

104.385

CHANGE

0%

TIME

09:29:18

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Instrument gained momentum on the downside, turning medium-term bias to the negative side. However, possible upwards extension is required to clear resistive measure at 104.55 (R1) on the first place. In such event we would suggest next intraday targets at 104.74 (R2) and 104.95 (R3). Downwards scenario: Penetration below the support at 104.29 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 104.07 (S2) and 103.85 (S3) might be triggered.

Resistance Levels: 104.55, 104.74, 104.95

Support Levels: 104.29, 104.07, 103.85

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