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Daily Market Update 22 Mar 2021

EURUSD

HIGH

1.18995

LOW

1.18710

BID

1.18795

ASK

1.18800

CHANGE

0%

TIME

09:48:46

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Downside structure remains in focus, however break of our initial resistance at 1.1909 (R1) could enable recovery process and suggest next interim aim 1.1950 (R2). Final resistance is seen today at important fractal level 1.1989 (R3). Downwards scenario: Our next support level is placed at 1.1870 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial target zone from 1.1830 (S2) onto 1.1790 (S3) price levels.

Resistance Levels: 1.1909, 1.1950, 1.1989

Support Levels: 1.1870, 1.1830, 1.1790

 

GBPUSD

HIGH

1.38617

LOW

1.38174

BID

1.38365

ASK

1.38373

CHANGE

0%

TIME

09:48:46

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Possible surge higher the resistive measure at 1.3881 (R1) is liable to activate recovery phase from the initial bearish setup. In such scenario we would suggest next target zone from 1.3932 (R2) onto 1.3985 (R3) price levels. Downwards scenario: Risk of further price depreciation is seen below the support level at 1.3817 (S1). Loss here is required to enable our supportive barrier at 1.3765 (S2) on route towards to final target for today at 1.3715 (S3).

Resistance Levels: 1.3881, 1.3932, 1.3985

Support Levels: 1.3817, 1.3765, 1.3715

 

USDJPY

HIGH

108.954

LOW

108.566

BID

108.718

ASK

108.724

CHANGE

0%

TIME

09:48:46

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: USDJPY is pointing to a negative market sentiment today. Though clearance of our resistance at 108.80 (R1) might trigger recovery action towards to our initial targets at 109.06 (R2) and 109.32 (R3). Downwards scenario: Our next support level is seen below the local low at 108.56 (S1). Any penetration below this level would increase likelihood of the downtrend development and suggest bearish priority in direction. Intraday support levels are placed at the 108.30 (S2) and 108.04 (S3) marks.

Resistance Levels: 108.80, 109.06, 109.32

Support Levels: 108.56, 108.30, 108.04

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