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Daily Market Update 11 Mar 2021

EURUSD

HIGH

1.19344

LOW

1.19154

BID

1.19317

ASK

1.19322

CHANGE

0%

TIME

08:55:56

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Current ascending structure is aiming to test our initial resistive measure at 1.1932 (R1). Loss here would suggest next intraday targets at 1.1967 (R2) and 1.2002 (R3). Downwards scenario: Sideways formation remains strong, though quite soon we might see directional movements. Clearance of our resistance level at 1.1908 (S1) would open path towards to our aims at 1.1873 (S2) and 1.1838 (S3) in potential.

Resistance Levels: 1.1932, 1.1967, 1.2002

Support Levels: 1.1908, 1.1873, 1.1838

 

GBPUSD

HIGH

1.39439

LOW

1.39187

BID

1.39414

ASK

1.39425

CHANGE

0%

TIME

08:55:56

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: GBPUSD resumed upwards extension and currently stabilized below the local high of 1.3939 (R1). Clearance here would be a signal of possible market strengthening towards to next targets at 1.3987 (R2) and 1.4036 (R3). Downwards scenario: To initiate correction development price is required to clear an important support level at 1.3904 (S1). Only loss here is liable to open way towards to next intraday targets at 1.3855 (S2) and 1.3807 (S3).

Resistance Levels: 1.3939, 1.3987, 1.4036

Support Levels: 1.3904, 1.3855, 1.3807

 

USDJPY

HIGH

108.805

LOW

108.356

BID

108.771

ASK

108.778

CHANGE

0%

TIME

08:55:56

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Measures of resistance might be activating when the pair approaches 108.87 (R1). Break here would suggest next interim target at 109.13 (R2) and If the pair keeps its momentum we would expect an exposure of 109.38 (R3). Downwards scenario: Despite of the recent price acceleration on the upside, reversal scenario remains in focus. An important support level at 108.60 (S1) shall be cleared to enable bearish potential and suggest lower targets at 108.35 (S2) and 108.10 (S3).

Resistance Levels: 108.87, 109.13, 109.38

Support Levels: 108.60, 108.35, 108.10

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