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Daily Market Update 02 Mar 2021

EURUSD

HIGH

1.20502

LOW

1.20149

BID

1.20191

ASK

1.20197

CHANGE

0%

TIME

09:13:22

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Downside structure remains in focus, however break of our initial resistance at 1.2055 (R1) could enable recovery process and suggest next interim aim 1.2113 (R2). Final resistance is seen today at important fractal level 1.2172 (R3). Downwards scenario: Our next support level is placed at 1.2008 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial target zone from 1.1950 (S2) onto 1.1892 (S3) price levels.

Resistance Levels: 1.2055, 1.2113, 1.2172

Support Levels: 1.2008, 1.1950, 1.1892

 

GBPUSD

HIGH

1.39319

LOW

1.38657

BID

1.38794

ASK

1.38803

CHANGE

0%

TIME

09:13:22

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Instrument remains under the bearish pressure, however we see potential to overcome our resistive barrier at 1.3938 (R1) later on today. Clearance here would suggest next intraday targets at 1.4020 (R2) and 1.4102 (R3) in potential. Downwards scenario: Risk of further market easing is seen below the key support level at 1.3865 (S1), provided by the local low. Loss here would suggest next intraday target at 1.3785 (S2) and then final aim could be exposed at 1.3705 (S3) later on today.

Resistance Levels: 1.3938, 1.4020, 1.4102

Support Levels: 1.3865, 1.3785, 1.3705

 

USDJPY

HIGH

106.922

LOW

106.655

BID

106.848

ASK

106.856

CHANGE

0%

TIME

09:13:22

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside, clearance of our next resistance at 106.92 (R1) is required to open way towards to next target at 107.27 (R2). Last resistance level for today is seen 107.62 (R3) Downwards scenario: Risk of price depreciation is seen below the support level at 106.64 (S1). A fall below it would enable next aim at 106.30 (S2) and any further market decline would then be targeting final support at 105.96 (S3).

Resistance Levels: 106.92, 107.27, 107.62

Support Levels: 106.64, 106.30, 105.96

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