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Daily Market Update 26 Jan 2021

EURUSD

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Correction phase from the current price downgrade is possible above the initial resistive measure at 1.2141 (R1). Break here would suggest next interim target at 1.2161 (R2) on route towards to last aim for today at 1.2180 (R3). Downwards scenario: In order to prolong medium-term downside extension, market should successfully clear support level at 1.2120 (S1). A dip below this level would suggest target zone from 1.2100 (S2) onto 1.2081 (S3) price levels.

Resistance Levels: 1.2141, 1.2161, 1.2180

Support Levels: 1.2120, 1.2100, 1.2081

 

GBPUSD

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Short term tendency is clearly on the negative side now. However, possible price appreciation above the resistance at 1.3663 (R1) would open a route towards to next targets at 1.3700 (R2) and 1.3737 (R3). Downwards scenario: Our next support measure at 1.3628 (S1) prevents possible retracement evolvement. Break here is required to enable lower target at 1.3591 (S2) and any further market weakening would then be targeting final support for today at 1.3554 (S3).

Resistance Levels: 1.3663, 1.3700, 1.3737

Support Levels: 1.3628, 1.3591, 1.3554

 

USDJPY

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Neutral hourly studies point towards to further consolidation pattern, with a break of next resistive structure at 103.74 (R1) is required to spark stronger upside action. In such case we would suggest next initial targets 103.91 (R2) and 104.07 (R3). Downwards scenario: On the other hand, price devaluation below the support at 103.65 (S1) could maintain negative tone in near-term perspective. In such case we would suggest next target at 103.49 (S2) on route towards to final aim for today at 103.32 (S3).

Resistance Levels: 103.74, 103.91, 104.07

Support Levels: 103.65, 103.49, 103.32

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