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Daily Market Update 02 Jun 2021

EURUSD

HIGH

1.22263

LOW

1.22066

BID

1.22089

ASK

1.22092

CHANGE

0.01%

TIME

09:48:07

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.2223 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 1.2254 (R2) and 1.2285 (R3) in potential. Downwards scenario: Our outlook is negative on EURUSD now. Depreciation below the support level at 1.2198 (S1) would enable lower targets at 1.2164 (S2) and 1.2132 (S3) in near term perspective.

Resistance Levels: 1.2223, 1.2254, 1.2285

Support Levels: 1.2198, 1.2164, 1.2132

GBPUSD

HIGH

1.41638

LOW

1.41421

BID

1.41474

ASK

1.41483

CHANGE

-0.01%

TIME

09:48:07

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Apparently medium-term market sentiment is negative for the GBPUSD, however clearance of our resistance at 1.4179 (R1) could open way for an upside progress towards to next visible targets at 1.4213 (R2) and 1.4247 (R3). Downwards scenario: As long as price stays below the next resistance level, our technical outlook would be negative. Extension lower the initial support at 1.4135 (S1) is being able to drive market price towards to initial supports at 1.4100 (S2) and 1.4065 (S3).

Resistance Levels: 1.4179, 1.4213, 1.4247

Support Levels: 1.4135, 1.4100, 1.4065

USDJPY

HIGH

109.773

LOW

109.417

BID

109.740

ASK

109.746

CHANGE

0%

TIME

09:48:07

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: To prolong upwards extension, USDJPY is required to clear resistive measure at 109.81 (R1). Loss here would open route towards to resistances at 110.01 (R2) and 110.19 (R3). Downwards scenario: Our technical outlook would turn into negative side below the support level at 109.54 (S1). Possible price depreciation would then be targeting support at 109.32 (S2) on route to final target at 109.10 (S3).

Resistance Levels: 109.81, 110.01, 110.19

Support Levels: 109.54, 109.32, 109.10

 

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