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Daily Market Update 12 Jan 2021

EURUSD

HIGH

1.21617

LOW

1.21384

BID

1.21584

ASK

1.21589

CHANGE

0%

TIME

08:54:11

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Price gradually approach our next resistive measure at 1.2168 (R1). Break here would suggest next target at 1.2231 (R2) and then final aim could be found at 1.2294 (R3) later on today. Downwards scenario: To initiate correction development price is required to clear an important support level at 1.2137 (S1). Only loss here is liable to open way towards to next intraday targets at 1.2074 (S2) and 1.2010 (S3).

Resistance Levels: 1.2168, 1.2231, 1.2294

Support Levels: 1.2137, 1.2074, 1.2010

 

GBPUSD

HIGH

1.3558

LOW

1.3502

BID

1.35532

ASK

1.35542

CHANGE

0%

TIME

08:54:11

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: GBPUSD resumed recovery phase on the hourly chart. Clearance of next resistance level at 1.3562 (R1) is required to enable bullish pressure and open route towards to our next targets at 1.3599 (R2) and 1.3635 (R3). Downwards scenario: On the other side, a dip below the initial support level at 1.3522 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 1.3486 (S2) and 1.3450 (S3) in potential.

Resistance Levels: 1.3562, 1.3599, 1.3635

Support Levels: 1.3522, 1.3486, 1.3450

 

USDJPY

HIGH

104.322

LOW

104.096

BID

104.169

ASK

104.175

CHANGE

0%

TIME

08:54:11

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Further upwards formation is limited to resistive measure at 104.36 (R1). A break above it would suggest next intraday target 104.79 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 105.22 (R3). Downwards scenario: Loss of initial support level at 104.06 (S1) would open road for a market decline towards to interim target at 103.63 (S2) and any further price weakening would then be limited to final aim at 103.20 (S3).

Resistance Levels: 104.36, 104.79, 105.22

Support Levels: 104.06, 103.63, 103.20

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