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Daily Market Update 31 Mar 2021

EURUSD

HIGH

1.17257

LOW

1.17038

BID

1.17193

ASK

1.17197

CHANGE

0%

TIME

09:44:05

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Our next resistance level is placed today at 1.1722 (R1). Clearance here is required to activate bullish pressure towards to next target at 1.1747 (R2) and any further price appreciation would then be limited to 1.1772 (R3) mark today. Downwards scenario: Market could test an important support level at 1.1703 (S1) on the downside. Loss here would suggest next target at 1.1678 (S2) and 1.1653 (S3) in potential.

Resistance Levels: 1.1722, 1.1747, 1.1772

Support Levels: 1.1703, 1.1678, 1.1653

 

GBPUSD

HIGH

1.37506

LOW

1.37160

BID

1.37426

ASK

1.37433

CHANGE

0%

TIME

09:44:05

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Instrument still has potential to enable correction development from the initial bearish penetration if the price manages to overcome key resistance at 1.3751 (R1). In such case we would suggest next targets to be exposed at 1.3796 (R2) and 1.3842 (R3). Downwards scenario: On the downside we see potential to positively retest our initial support measure at 1.3705 (S1). Clearance here is required to open route towards to our intraday targets at 1.3660 (S2) and 1.3615 (S3) in potential.

Resistance Levels: 1.3751, 1.3796, 1.3842

Support Levels: 1.3705, 1.3660, 1.3615

 

USDJPY

HIGH

110.963

LOW

110.272

BID

110.709

ASK

110.714

CHANGE

0%

TIME

09:44:05

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Initial resistance level on the upside is seen at 110.96 (R1). If the market manages to surge higher, our focus will shift to the next target at 111.45 (R2) and any further price strengthening would be limited to final resistance at 111.95 (R3). Downwards scenario: Market sentiment on the bullish side now, however potential to establish correction phase is seen below the fractal level at 110.60 (S1). Positive retest here suggest next intraday targets at 110.11 (S2) and 109.62 (S3).

Resistance Levels: 110.96, 111.45, 111.95

Support Levels: 110.60, 110.11, 109.62

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