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Daily Market Update 07 Jan 2021

EURUSD

HIGH

1.2344

LOW

1.2307

BID

1.23139

ASK

1.23145

CHANGE

0%

TIME

09:33:33

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Possible appreciation above the resistive barrier at 1.2349 (R1) is compulsory to resume upwards progress on the medium-term perspective. In such scenario we would suggest next intraday targets at 1.2375 (R2) and 1.2401 (R3). Downwards scenario: On the downside, fractal at 1.2306 (S1) prevents possible downwards penetration. Break here is required to enable lower target at 1.2273 (S2) on route towards to final aim for today at 1.2240 (S3).

Resistance Levels: 1.2349, 1.2375, 1.2401

Support Levels: 1.2306, 1.2273, 1.2240

 

GBPUSD

HIGH

1.36327

LOW

1.3572

BID

1.35793

ASK

1.35803

CHANGE

0.01%

TIME

09:33:33

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Downside structure remains in focus, however break of our initial resistance at 1.3607 (R1) could enable recovery process and suggest next interim aim 1.3648 (R2). Final resistance is seen today at important fractal level 1.3692 (R3). Downwards scenario: Our next support level is placed at 1.3577 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial target zone from 1.3538 (S2) onto 1.3498 (S3) price levels.

Resistance Levels: 1.3607, 1.3648, 1.3692

Support Levels: 1.3577, 1.3538, 1.3498

 

USDJPY

HIGH

103.34

LOW

102.948

BID

103.326

ASK

103.334

CHANGE

-0.01%

TIME

09:33:33

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: USDJPY is approaching our next resistive structure at 103.44 (R1). Clearance here is required to open route towards to next target at 103.70 (R2) and then final aim could be triggered at 103.95 (R3) is the price keeps momentum. Downwards scenario: The bearish oriented traders expected to be in play below the next support level at 103.04 (S1) to confirm downside evolvement. Clearance of this level I required to open way towards to our targets at 102.81 (S2) and 102.58 (S3).

Resistance Levels: 103.44, 103.70, 103.95

Support Levels: 103.04, 102.81, 102.58

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