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Daily Market Update 24 Mar 2021

EURUSD

HIGH

1.18528

LOW

1.18214

BID

1.18265

ASK

1.18268

CHANGE

0%

TIME

09:42:33

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: While price is quoted below the 20 SMA our technical outlook would be negative. Though, appreciation above the resistance at 1.1857 (R1) might enable upwards penetration towards to next targets at 1.1898 (R2) and 1.1941 (R3). Downwards scenario: Local low at 1.1810 (S1) is the key support level on the way of downtrend expansion. With a loss here we would suggest next intraday target at 1.1770 (S2) and then final aim locates at 1.1730 (S3) price level.

Resistance Levels: 1.1857, 1.1898, 1.1941

Support Levels: 1.1810, 1.1770, 1.1730

 

GBPUSD

HIGH

1.37570

LOW

1.36737

BID

1.36846

ASK

1.36852

CHANGE

0%

TIME

09:42:33

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: GBPUSD is under the bearish pressure. Though, technical readings suggest possible market strengthening with a break above the next resistance at 1.3733 (R1). In such scenario we would concentrate our focus on the next targets at 1.3797 (R2) and 1.3861 (R3). Downwards scenario: Further downside expansion is limited to key support level at 1.3666 (S1). Break here would put bullish oriented traders on hold. Marks at 1.3605 (S2) and 1.3545 (S3) acts as our initial targets today.

Resistance Levels: 1.3733, 1.3797, 1.3861

Support Levels: 1.3666, 1.3605, 1.3545

 

USDJPY

HIGH

108.653

LOW

108.449

BID

108.621

ASK

108.627

CHANGE

0%

TIME

09:42:33

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Possible upwards extension is limited now to resistive measure at 108.73 (R1). If the break occurs here we would suggest next attractive point at 108.93 (R2) and any further rise would then be targeting our final aim at 109.12 (R3). Downwards scenario: On the other hand, bearish potential could be enabled if the price manages to overcome initial support level at 108.40 (S1). Loss here could expose our lower targets at 108.20 (S2) and 108.00 (S3) later on today.

Resistance Levels: 108.73, 108.93, 109.12

Support Levels: 108.40, 108.20, 108.00

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