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Daily Market Update 14 Jan 2021

EURUSD

HIGH

1.21716

LOW

1.21355

BID

1.21508

ASK

1.21514

CHANGE

0.01%

TIME

08:59:20

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Pullback formation from the initial price drop is possible today. Price tag at 1.2168 (R1) provides next resistive measure and loss here would suggest further appreciation towards to our initial targets at 1.2210 (R2) and 1.2252 (R3). Downwards scenario: On the other hand, penetration below the support at 1.2135 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.2093 (S2) and 1.2052 (S3) might be triggered.

Resistance Levels: 1.2168, 1.2210, 1.2252

Support Levels: 1.2135, 1.2093, 1.2052

 

GBPUSD

HIGH

1.36547

LOW

1.36161

BID

1.36372

ASK

1.36383

CHANGE

0.01%

TIME

08:59:20

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 1.3681 (R1) is a key point on the upside. Loss here is required to enable our intraday targets at 1.3738 (R2) and 1.3795 (R3). Downwards scenario: Break of support 1.3599 (S1) is required to activate new step of downside extension. Our interim target is seen at 1.3542 (S2), however price could reach last support at 1.3485 (S3) later on today.

Resistance Levels: 1.3681, 1.3738, 1.3795

Support Levels: 1.3599, 1.3542, 1.3485

 

USDJPY

HIGH

104.194

LOW

103.787

BID

104.043

ASK

104.05

CHANGE

0%

TIME

08:59:20

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Currently price stabilized below the local high at 104.19 (R1) and might retest this level later on today. Successful clearance here would suggest next intraday targets at 104.36 (R2) and 104.53 (R3). Downwards scenario: Possible retracement formation would face next hurdle at 103.95 (S1). Break here is required to open road towards to our next interim target at 103.78 (S2), on route to final aim for today at 103.61 (S3).

Resistance Levels: 104.19, 104.36, 104.53

Support Levels: 103.95, 103.78, 103.61

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