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Daily Market Update 11 Feb 2021

EURUSD

HIGH

1.21297

LOW

1.21132

BID

1.21274

ASK

1.21281

CHANGE

-0.01%

TIME

09:01:51

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Session high provides an important resistive barrier at 1.2138 (R1). Violation here is required to provide a signal of further ascending structure evolvement and suggest next intraday targets at 1.2171 (R2) and 1.2204 (R3). Downwards scenario: On the other hand current price setup suggests possible recovery phase below the initial support level at 1.2113 (S1). Clearance here is liable to expose our initial targets at 1.2080 (S2) and 1.2047 (S3) in potential.

Resistance Levels: 1.2138, 1.2171, 1.2204

Support Levels: 1.2113, 1.2080, 1.2047

 

GBPUSD

HIGH

1.38543

LOW

1.38201

BID

1.38517

ASK

1.38525

CHANGE

0%

TIME

09:01:51

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Upside progress above the resistive measure at 1.3864 (R1) is required to stimulate bullish market participants to open long positions. Initial targets locates at 1.3927 (R2) and 1.3990 (R3), however we are not expecting significant moves today. Downwards scenario: In terms of technical levels, risk of possible price depreciation is seen below the support level at 1.3821 (S1). Loss here would suggest next targets at 1.3758 (S2) and 1.3695 (S3) in potential.

Resistance Levels: 1.3864, 1.3927, 1.3990

Support Levels: 1.3821, 1.3758, 1.3695

 

USDJPY

HIGH

104.642

LOW

104.547

BID

104.560

ASK

104.568

CHANGE

0.01%

TIME

09:01:52

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Upside risk aversion is seen above the next resistance level at 104.77 (R1). Loss here could enable correction phase towards to next target at 105.12 (R2) and then final aim could be exposed at 105.47 (R3). Downwards scenario: Local low offers a key supportive measure at 104.42 (S1) on the downside. A violation here is liable to prolong downtrend structure and expose our initial targets at 104.06 (S2) and 103.71 (S3).

Resistance Levels: 104.77, 105.12, 105.47

Support Levels: 104.42, 104.06, 103.71

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