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Daily Market Update 27 Jan 2021

EURUSD

HIGH

1.21695

LOW

1.21527

BID

1.21587

ASK

1.21593

CHANGE

0%

TIME

08:53:58

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: On the upside potential is seen for a break above the resistance at 1.2169 (R1). In such case we would suggest next target at 1.2188 (R2) and any further rise would then be limited to final resistance at 1.2207 (R3). Downwards scenario: To initiate correction development price is required to clear an important support level at 1.2145 (S1). Only loss here is liable to open way towards to next intraday targets at 1.2126 (S2) and 1.2107 (S3).

Resistance Levels: 1.2169, 1.2188, 1.2207

Support Levels: 1.2145, 1.2126, 1.2107

 

GBPUSD

HIGH

1.37513

LOW

1.37229

BID

1.37347

ASK

1.37357

CHANGE

0%

TIME

08:53:58

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: GBPUSD resumed an upwards extension and we see potential to expose our intraday targets at 1.3799 (R2) and 1.3848 (R3) if the price manages to overcome key resistance measure at 1.3750 (R1). Downwards scenario: Possible retracement formation would face next hurdle at 1.3708 (S1). Break here is required to open road towards to our next interim target at 1.3659 (S2), on route to final aim for today at 1.3611 (S3).

Resistance Levels: 1.3750, 1.3799, 1.3848

Support Levels: 1.3708, 1.3659, 1.3611

 

USDJPY

HIGH

103.749

LOW

103.584

BID

103.684

ASK

103.691

CHANGE

0%

TIME

08:53:58

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Initial resistance level on the upside is seen at 103.73 (R1). If the market manages to surge higher, our focus will shift to the next target at 103.81 (R2) and any further price strengthening would be limited to final resistance at 103.90 (R3). Downwards scenario: Local low offers a key supportive measure at 103.59 (S1) on the downside. A violation here is liable to prolong downtrend structure and expose our initial targets at 103.50 (S2) and 103.42 (S3).

Resistance Levels: 103.73, 103.81, 103.90

Support Levels: 103.59, 103.50, 103.42

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