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Daily Market Update 17 Mar 2021

EURUSD

HIGH

1.19078

LOW

1.18925

BID

1.18989

ASK

1.18993

CHANGE

0%

TIME

09:32:32

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

High

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Downside structure remains in focus, however break of our initial resistance at 1.1916 (R1) could enable recovery process and suggest next interim aim 1.1942 (R2). Final resistance is seen today at important fractal level – 1.1967 (R3). Downwards scenario: In terms of technical levels, risk of possible price depreciation is seen below the support level at 1.1882 (S1). Loss here would suggest next targets at 1.1857 (S2) and 1.1832 (S3) in potential.

Resistance Levels: 1.1916, 1.1942, 1.1967

Support Levels: 1.1882, 1.1857, 1.1832

 

GBPUSD

HIGH

1.39179

LOW

1.38777

BID

1.39093

ASK

1.39101

CHANGE

0%

TIME

09:32:32

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

High

Upwards scenario: GBPUSD remains downwards oriented, however we expect some correction ahead. Loss of resistance at 1.3924 (R1) could be considered as signal of such. Higher targets locates at 1.3965 (R2) and 1.4004 (R3). Downwards scenario: On the other side, extension lower the next support level at 1.3887 (S1) is being able to initiate new step of downside expansion and drive market price towards to our initial targets at 1.3846 (S2) and 1.3808 (S3).

Resistance Levels: 1.3924, 1.3965, 1.4004

Support Levels: 1.3887, 1.3846, 1.3808

 

USDJPY

HIGH

109.206

LOW

108.966

BID

109.140

ASK

109.144

CHANGE

0%

TIME

09:32:32

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

High

Upwards scenario: Price tag at 109.36 (R1) acts as next resistive measure on the way of ascending structure. Break here would enable higher targets at 109.60 (R2) and 109.85 (R3) later on today. Downwards scenario: On the other hand, risk of correction development is seen below the support barrier at 108.99 (S1). Break here is required to enable our intraday targets at 108.76 (S2) and 108.51 (S3) on the downside.

Resistance Levels: 109.36, 109.60, 109.85

Support Levels: 108.99, 108.76, 108.51

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