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Daily Market Update 20 Jan 2021

EURUSD

HIGH

1.21574

LOW

1.2122

BID

1.21501

ASK

1.21507

CHANGE

0%

TIME

08:55:09

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Volatility increase is possible today due to the important macroeconomic news announcements. On the upside next on tap is seen resistive measure at 1.2164 (R1), clearance here would open way towards to next targets at 1.2200 (R2) and 1.2236 (R3). Downwards scenario: Risk of price devaluation is seen below the key support level at 1.2127 (S1). Break here would suggest next interim target at 1.2091 (S2) on the way towards to final aim for today at 1.2055 (S3).

Resistance Levels: 1.2164, 1.2200, 1.2236

Support Levels: 1.2127, 1.2091, 1.2055

 

GBPUSD

HIGH

1.36681

LOW

1.36274

BID

1.36637

ASK

1.36649

CHANGE

0%

TIME

08:55:09

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Fractals at 1.3689 (R1) offers an important resistive measure on the upside. Possible price appreciation above that level would enable target at 1.3742 (R2) and any further market rise would then be limited to final resistance at 1.3795 (R3). Downwards scenario: On the other hand, risk of correction development is seen below the support barrier at 1.3633 (S1). Break here is required to enable our intraday targets at 1.3580 (S2) and 1.3527 (S3) on the downside.

Resistance Levels: 1.3689, 1.3742, 1.3795

Support Levels: 1.3633, 1.3580, 1.3527

 

USDJPY

HIGH

103.926

LOW

103.72

BID

103.737

ASK

103.744

CHANGE

0%

TIME

08:55:09

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: USDJPY determined negative tone today with the price decrease below the yesterday low. However, penetration above the resistive measure at 103.80 (R1) might commence correction phase towards to the next resistive means at 103.93 (R2) and 104.05 (R3). Downwards scenario: Gradually price is approaching an important support level at 103.65 (S1). Clearance here would enable lower target at 103.52 (S2) and any further market weakening would then be limited to final support at 103.40 (S3).

Resistance Levels: 103.80, 103.93, 104.05

Support Levels: 103.65, 103.52, 103.40

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