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Daily Market Update 21 Dec 2020

EURUSD

HIGH

1.22348

LOW

1.21785

BID

1.2198

ASK

1.21987

CHANGE

0.01%

TIME

09:13:10

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: On the upside EURUSD is limited to the next resistive barrier at 1.2208 (R1). Clearance here could enable ascending structure and suggest next target at 1.2240 (R2). Final resistance lies at 1.2273 (R3) today. Downwards scenario: Local low offers a key supportive measure at 1.2161 (S1) on the downside. A violation here is liable to prolong downtrend structure and expose our initial targets at 1.2124 (S2) and 1.2087 (S3).

Resistance Levels: 1.2208, 1.2240, 1.2273

Support Levels: 1.2161, 1.2124, 1.2087

 

GBPUSD

HIGH

1.34401

LOW

1.33356

BID

1.33546

ASK

1.33557

CHANGE

0.04%

TIME

09:13:10

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: GBPUSD settled clear downtrend structure, however recovery action is possible today. Mark at 1.3441 (R1) is a key point on the upside. Loss here is required to enable our intraday targets at 1.3533 (R2) and 1.3625 (R3). Downwards scenario: On the other hand current price setup suggests possible recovery phase below the initial support level at 1.3289 (S1). Clearance here is liable to expose our initial targets at 1.3200 (S2) and 1.3110 (S3) in potential.

Resistance Levels: 1.3441, 1.3533, 1.3625

Support Levels: 1.3289, 1.3200, 1.3110

 

USDJPY

HIGH

103.552

LOW

103.248

BID

103.42

ASK

103.426

CHANGE

0%

TIME

09:13:10

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside, clearance of our next resistance at 103.55 (R1) is required to open way towards to next target at 103.81 (R2). Last resistance level for today is seen 104.05 (R3) Downwards scenario: We are not expecting corrective action today, however price regress below the initial support at 103.13 (S1) would suggest next interim target at 102.86 (S2) on the way towards to final aim for today at 102.60 (S3).

Resistance Levels: 103.55, 103.81, 104.05

Support Levels: 103.13, 102.86, 102.60

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