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Daily Market Update 17 Feb 2021

EURUSD

HIGH

1.21072

LOW

1.20730

BID

1.20744

ASK

1.20750

CHANGE

0.01%

TIME

09:16:50

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Medium-term bias remain negative, however upside risk aversion is seen above the resistance level at 1.2093 (R1). Break here would suggest next target at 1.2130 (R2) and any further market strengthening would then be limited to final target at 1.2169 (R3). Downwards scenario: Next fractal level on the downside at 1.2067 (S1) acts as initial support measure. Penetration below this mark would suggest our lower target at 1.2030 (S2) and then any further weakening would be limited to final support for today at 1.1993 (S3).

Resistance Levels: 1.2093, 1.2130, 1.2169

Support Levels: 1.2067, 1.2030, 1.1993

 

GBPUSD

HIGH

1.39065

LOW

1.38615

BID

1.38797

ASK

1.38806

CHANGE

0.01%

TIME

09:16:50

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Downside structure remains in focus, however break of our initial resistance at 1.3911 (R1) could enable recovery process and suggest next interim aim 1.3951 (R2). Final resistance is seen today at important fractal level 1.3991 (R3). Downwards scenario: Our next support level is placed at 1.3860 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial target zone from 1.3819 (S2) onto 1.3777 (S3) price levels.

Resistance Levels: 1.3911, 1.3951, 1.3991

Support Levels: 1.3860, 1.3819, 1.3777

 

USDJPY

HIGH

106.223

LOW

105.834

BID

106.029

ASK

106.036

CHANGE

0%

TIME

09:16:50

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Possible appreciation above the resistive barrier at 106.22 (R1) is compulsory to initiate upwards progress. In such scenario we would suggest next intraday targets at 106.62 (R2) and 107.02 (R3). Downwards scenario: On the other side, a dip below the initial support level at 105.72 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 105.31 (S2) and 104.89 (S3) in potential.

Resistance Levels: 106.22, 106.62, 107.02

Support Levels: 105.72, 105.31, 104.89

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