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Daily Market Update 18 Mar 2021

EURUSD

HIGH

1.19887

LOW

1.19459

BID

1.19473

ASK

1.19478

CHANGE

-0.01%

TIME

09:44:40

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: EURUSD is approaching our next resistance level at 1.1999 (R1), keeping the short-term ascending structure intact. The break here is required for the price appreciation towards to next target at 1.2040 (R2) and any further rise would then be targeting to 1.2080 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 1.1961 (S1). Loss here would suggest to monitor marks at 1.1922 (S2) and 1.1882 (S3) as possible intraday targets.

Resistance Levels: 1.1999, 1.2040, 1.2080

Support Levels: 1.1961, 1.1922, 1.1882

 

GBPUSD

HIGH

1.40012

LOW

1.39349

BID

1.39553

ASK

1.39562

CHANGE

-0.02%

TIME

09:44:40

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside, fractals level at 1.4004 (R1) offers an important resistive structure. Any penetration above that level would suggest next intraday targets at 1.4065 (R2) and 1.4125 (R3). Downwards scenario: Supportive barrier at 1.3942 (S1) prevents further downtrend expansion in near-term perspective. Clearance here would enable lower target at 1.3874 (S2) and any further price downgrade would then face final support at 1.3808 (S3).

Resistance Levels: 1.4004, 1.4065, 1.4125

Support Levels: 1.3942, 1.3874, 1.3808

 

USDJPY

HIGH

109.241

LOW

108.622

BID

109.234

ASK

109.239

CHANGE

0%

TIME

09:44:40

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

Upwards scenario: On the upside, next on tap is seen resistance level at 109.03 (R1). Loss here would suggest next targets at 109.18 (R2) and 109.36 (R3) if the pair resume an ascending structure, initiated today. Downwards scenario: Our next support level is placed at 108.78 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial target zone from 108.62 (S2) onto 108.46 (S3) price levels.

Resistance Levels: 109.03, 109.18, 109.36

Support Levels: 108.78, 108.62, 108.46

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