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Daily Market Update 05 Jan 2021

EURUSD

HIGH

1.22766

LOW

1.22448

BID

1.22684

ASK

1.22689

CHANGE

0.01%

TIME

09:26:37

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Initial resistance level on the upside is seen at 1.2285 (R1). If the market manages to surge higher, our focus will shift to the next target at 1.2309 (R2) and any further price strengthening would be limited to final resistance at 1.2335 (R3). Downwards scenario: Market sentiment on the bullish side now, however potential to establish correction phase is seen below the fractal level at 1.2256 (S1). Positive retest here suggest next intraday targets at 1.2232 (S2) and 1.2209 (S3).

Resistance Levels: 1.2285, 1.2309, 1.2335

Support Levels: 1.2256, 1.2232, 1.2209

 

GBPUSD

HIGH

1.36122

LOW

1.35613

BID

1.35991

ASK

1.35999

CHANGE

0.02%

TIME

09:26:37

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Next barrier on the upside lies at 1.3612 (R1). Surpassing of this level might enable our initial target at 1.3657 (R2) and any further gains would then be limited to last resistive structure at 1.3703 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.3570 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.3523 (S2) and 1.3479 (S3).

Resistance Levels: 1.3612, 1.3657, 1.3703

Support Levels: 1.3570, 1.3523, 1.3479

 

USDJPY

HIGH

103.189

LOW

102.885

BID

102.924

ASK

102.932

CHANGE

0%

TIME

09:26:37

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside, clearance of our next resistance at 103.04 (R1) is required to open way towards to next target at 103.29 (R2). Last resistance level for today is seen 103.54 (R3). Downwards scenario: Risk of further price depreciation is seen below the support level at 102.70 (S1). A fall below it would enable next aim at 102.45 (S2) and any further market decline would then be targeting final support at 102.20 (S3).

Resistance Levels: 103.04, 103.29, 103.54

Support Levels: 102.70, 102.45, 102.20

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