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Daily Market Update 24 Feb 2021

EURUSD

HIGH

1.21660

LOW

1.21426

BID

1.21546

ASK

1.21553

CHANGE

0%

TIME

08:55:41

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Despite the gradual market decline we see potential to test our resistive barrier at 1.2161 (R1) later on today. Successful penetration above this mark would keep bullish oriented market participants in play and suggest next intraday targets at 1.2188 (R2) and 1.2214 (R3). Downwards scenario: On the other side, extension lower the next support level at 1.2135 (S1) is being able to initiate new step of downside expansion and drive market price towards to our initial targets at 1.2108 (S2) and 1.2082 (S3).

Resistance Levels: 1.2161, 1.2188, 1.2214

Support Levels: 1.2135, 1.2108, 1.2082

 

GBPUSD

HIGH

1.42411

LOW

1.40962

BID

1.41882

ASK

1.41893

CHANGE

0%

TIME

08:55:41

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Short term upwards progress is limited now by resistive barrier at 1.4181 (R1). Break here is required to push the price towards to our next visible targets at 1.4270 (R2) and 1.4360 (R3). Downwards scenario: With the current price pattern we are not suggesting any directional trades prior proper market conditions. However loss of support at 1.4131 (S1) is liable to downgrade the price towards to lower aims at 1.4042 (S2) and 1.3952 (S3) in perspective.

Resistance Levels: 1.4181, 1.4270, 1.4360

Support Levels: 1.4131, 1.4042, 1.3952

 

USDJPY

HIGH

105.560

LOW

105.139

BID

105.481

ASK

105.487

CHANGE

0%

TIME

08:55:41

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: Current ascending structure is aiming to test our initial resistive measure at 105.64 (R1). Loss here would suggest next intraday targets at 105.81 (R2) and 105.99 (R3). Downwards scenario: On the downside risk of price weakening is seen below the key support level at 105.41 (S1). Break here is required to open the way towards to immediate supports at 105.24 (S2) and 105.06 (S3).

Resistance Levels: 105.64, 105.81, 105.99

Support Levels: 105.41, 105.24, 105.06

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