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Daily Market Update 09 Feb 2021

EURUSD

HIGH

1.20822

LOW

1.20425

BID

1.20751

ASK

1.20758

CHANGE

0.01%

TIME

08:57:21

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: With limited tier one macroeconomic news announcements, neutral tone could be favored for the remaining of the day. Though, possible clearance of our next resistive barrier at 1.2095 (R1) would suggest next intraday targets at 1.2135 (R2) and 1.2175 (R3) in potential. Downwards scenario: We are not expecting significant moves today, however, violation of next support at 1.2059 (S1) might call for a run towards to next target at 1.2019 (S2) and any further weakening would then be limited to final target at 1.1979 (S3).

Resistance Levels: 1.2095, 1.2135, 1.2175

Support Levels: 1.2059, 1.2019, 1.1979

 

GBPUSD

HIGH

1.37871

LOW

1.37323

BID

1.37706

ASK

1.37713

CHANGE

0.01%

TIME

08:57:21

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

High

Upwards scenario: Current price setup is limited to resistive structure at 1.3796 (R1) on the upside. Clearance here is required to create upside pressure and expose next target at 1.3891 (R2). Our final aim locates today at 1.3985 (R3). Downwards scenario: Signal of possible instrument depreciation would be created if the price penetrates below the support level at 1.3756 (S1). In such case we would suggest next interim target at 1.3662 (S2) on route to final aim at 1.3567 (S3).

Resistance Levels: 1.3796, 1.3891, 1.3985

Support Levels: 1.3756, 1.3662, 1.3567

 

USDJPY

HIGH

105.259

LOW

104.836

BID

104.851

ASK

104.860

CHANGE

0%

TIME

08:57:21

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside USDJPY is limited to the next resistive barrier at 105.12 (R1). Clearance here could enable ascending structure and suggest next target at 105.39 (R2). Final resistance lies at 105.67 (R3) today. Downwards scenario: On the other hand, instrument keeps potential to surge lower if the price manage to clear key support level at 104.77 (S1). Our lower intraday targets could be exposed at 104.49 (S2) and 104.22 (S3) in potential.

Resistance Levels: 105.12, 105.39, 105.67

Support Levels: 104.77, 104.49, 104.22

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