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Daily Market Update 29 Dec 2020

EURUSD

HIGH

1.22482

LOW

1.22066

BID

1.22474

ASK

1.22481

CHANGE

0%

TIME

09:25:32

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Further upwards formation is limited to resistive measure at 1.2256 (R1). A break above it would suggest next intraday target 1.3385 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.2315 (R3). Downwards scenario: Any downside extension is limited now to the freshly created local low at 1.2223 (S1). Below here we see potential for the price regress towards to next targets at 1.2194 (S2) and 1.2162 (S3) later on today.

Resistance Levels: 1.2256, 1.3385, 1.2315

Support Levels: 1.2223, 1.2194, 1.2162

 

GBPUSD

HIGH

1.34983

LOW

1.344

BID

1.34926

ASK

1.34938

CHANGE

0%

TIME

09:25:32

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Next barrier on the upside lies at 1.3516 (R1). Surpassing of this level might enable our initial target at 1.3566 (R2) and any further gains would then be limited to last resistive structure at 1.3619 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 1.3444 (S1) might expose our intraday targets at 1.3381 (S2) and then 1.3321 (S3) in perspective.

Resistance Levels: 1.3516, 1.3566, 1.3619

Support Levels: 1.3444, 1.3381, 1.3321

 

USDJPY

HIGH

103.815

LOW

103.62

BID

103.665

ASK

103.674

CHANGE

0%

TIME

09:25:32

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Market formed gradual descending move however price appreciation is possible above the next resistance level at 103.77 (R1). Break here is required to enable next attractive points at 103.89 (R2) and 104.03 (R3). Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 103.60 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 103.48 (S2) and 103.35 (S3).

Resistance Levels: 103.77, 103.89, 104.03

Support Levels: 103.60, 103.48, 103.35

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