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Daily Market Update 16 Mar 2021

EURUSD

HIGH

1.19385

LOW

1.19171

BID

1.19187

ASK

1.19190

CHANGE

0%

TIME

09:29:14

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: EURUSD remains under the bearish pressure on the medium-term perspective. However, break of resistive measure at 1.1937 (R1) is liable to initiate retracement action towards to our next targets at 1.1963 (R2) and 1.1990 (R3) in potential. Downwards scenario: Fractal level offers a key supportive measure at 1.1911 (S1) on the downside. A violation here is liable to commence downtrend structure on the bigger picture and expose our initial targets at 1.1880 (S2) and 1.1850 (S3).

Resistance Levels: 1.1937, 1.1963, 1.1990

Support Levels: 1.1911, 1.1880, 1.1850

 

GBPUSD

HIGH

1.39030

LOW

1.38263

BID

1.38281

ASK

1.38290

CHANGE

-0.01%

TIME

09:29:14

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Recent piece weakening on GBPUSD turned intraday market sentiment to the bearish side. However, chances to recover initial losses are seen above the immediate resistance at 1.3871 (R1). Loss here would suggest next target zone from 1.3931 (R2) onto 1.3994 (R3) price levels. Downwards scenario: On the other hand, penetration below the support level at 1.3919 (S1) could maintain a negative tone in near term perspective. In such case we would suggest next supportive measures at 1.3855 (S2) and 1.3790 (S3) as next targets.

Resistance Levels: 1.3871, 1.3931, 1.3994

Support Levels: 1.3919, 1.3855, 1.3790

 

USDJPY

HIGH

109.245

LOW

109.094

BID

109.220

ASK

109.226

CHANGE

0%

TIME

09:29:14

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Next barrier on the upside lies at 109.36 (R1). Surpassing of this level might enable our initial target at 109.70 (R2) and any further gains would then be limited to last resistive structure at 110.05 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 109.06 (S1) might expose our intraday targets at 108.75 (S2) and then 108.43 (S3) in perspective.

Resistance Levels: 109.36, 109.70, 110.05

Support Levels: 109.06, 108.75, 108.43

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